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REGISTERED NUMBER: SC514125 (Scotland)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

WELLINGTON WEALTH (GLASGOW) LIMITED

WELLINGTON WEALTH (GLASGOW) LIMITED (REGISTERED NUMBER: SC514125)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WELLINGTON WEALTH (GLASGOW) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mrs J C Brown
Mrs N J Wright





SECRETARY: Mrs J C Brown





REGISTERED OFFICE: 5th Floor
Gordon Chambers
90 Mitchell Street
Glasgow
G1 3NQ





REGISTERED NUMBER: SC514125 (Scotland)





ACCOUNTANTS: Cornerstone Glasgow Ltd
6th Floor
Gordon Chambers
90 Mitchell Street
Glasgow
Lanarkshire
G1 3NQ

WELLINGTON WEALTH (GLASGOW) LIMITED (REGISTERED NUMBER: SC514125)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 379,411 420,200

CURRENT ASSETS
Debtors 5 7,831 8,883
Investments 6 25,655 25,655
Cash at bank and in hand 95,254 55,849
128,740 90,387
CREDITORS
Amounts falling due within one year 7 124,865 70,719
NET CURRENT ASSETS 3,875 19,668
TOTAL ASSETS LESS CURRENT
LIABILITIES

383,286

439,868

CREDITORS
Amounts falling due after more than one
year

8

(163,292

)

(198,430

)

PROVISIONS FOR LIABILITIES (18,372 ) -
NET ASSETS 201,622 241,438

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 201,522 241,338
201,622 241,438

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

WELLINGTON WEALTH (GLASGOW) LIMITED (REGISTERED NUMBER: SC514125)

BALANCE SHEET - continued
31 DECEMBER 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 August 2024 and were signed on its behalf by:




Mrs J C Brown - Director



Mrs N J Wright - Director


WELLINGTON WEALTH (GLASGOW) LIMITED (REGISTERED NUMBER: SC514125)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Wellington Wealth (Glasgow) Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on a straight line basis
Computer equipment - 25% on a straight line basis

Taxation
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
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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 8 ) .

WELLINGTON WEALTH (GLASGOW) LIMITED (REGISTERED NUMBER: SC514125)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 January 2023 303,071 179,797 45,724 528,592
Additions - 407 1,749 2,156
At 31 December 2023 303,071 180,204 47,473 530,748
DEPRECIATION
At 1 January 2023 - 74,902 33,490 108,392
Charge for year - 34,383 8,562 42,945
At 31 December 2023 - 109,285 42,052 151,337
NET BOOK VALUE
At 31 December 2023 303,071 70,919 5,421 379,411
At 31 December 2022 303,071 104,895 12,234 420,200

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 7,831 8,883

6. CURRENT ASSET INVESTMENTS
2023 2022
£    £   
Unlisted investments 25,655 25,655

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 40,020 34,904
Taxation and social security 69,147 33,202
Other creditors 15,698 2,613
124,865 70,719

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 163,292 198,430