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Registered number: 12314947
Wela Collection Ltd
Unaudited Financial Statements
For The Year Ended 30 November 2023
Ecommerce Accountants LLP
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 12314947
2023 2022
Notes £ £ £ £
CURRENT ASSETS
Stocks 4 53,789 21,126
Debtors 5 38,803 29,393
Cash at bank and in hand 913 5,512
93,505 56,031
Creditors: Amounts Falling Due Within One Year 6 (199,752 ) (88,457 )
NET CURRENT ASSETS (LIABILITIES) (106,247 ) (32,426 )
TOTAL ASSETS LESS CURRENT LIABILITIES (106,247 ) (32,426 )
NET LIABILITIES (106,247 ) (32,426 )
CAPITAL AND RESERVES
Called up share capital 7 1 1
Profit and Loss Account (106,248 ) (32,427 )
SHAREHOLDERS' FUNDS (106,247) (32,426)
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Wendi Dixon
Director
16/08/2024
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Wela Collection Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12314947 . The registered office is 71-75 Shelton Street, Covent Garden, London, WC2H 9JQ.

The presentation currency of the financial statements is the Pound Sterling (£).
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

2.3. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.4. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to
the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or
substantively enacted by the balance sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance
sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that
have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the
timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they
will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
2.6. Short term debtors and creditors
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising
from impairment are recognised in the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 1)
2 1
4. Stocks
2023 2022
£ £
Finished goods 53,789 21,126
Page 2
Page 3
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors - 24,048
Other debtors 38,803 5,345
38,803 29,393
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 1,341 -
Other creditors 185,630 85,988
Taxation and social security 12,781 2,469
199,752 88,457
7. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
Page 3