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REGISTERED NUMBER: 04620571 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

WESTCOUNTRY FAMILY WELLNESS LTD

WESTCOUNTRY FAMILY WELLNESS LTD (REGISTERED NUMBER: 04620571)






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


WESTCOUNTRY FAMILY WELLNESS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: Dr M Stephens





SECRETARY: Dr K C Elston





REGISTERED OFFICE: 2 Alma Place
Redruth
Cornwall
TR15 2AT





REGISTERED NUMBER: 04620571 (England and Wales)





ACCOUNTANT: Catherine Bennett Ltd
Chartered Accountant
Wheal Harmony House
Solomon Road
Redruth
Cornwall
TR15 1FD

WESTCOUNTRY FAMILY WELLNESS LTD (REGISTERED NUMBER: 04620571)

BALANCE SHEET
31 DECEMBER 2023

31/12/23 31/12/22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 4,372 5,687
4,372 5,687

CURRENT ASSETS
Stocks 6 2,852 3,050
Debtors 7 40,890 28,071
Cash at bank and in hand 12,295 5,733
56,037 36,854
CREDITORS
Amounts falling due within one year 8 74,653 24,431
NET CURRENT (LIABILITIES)/ASSETS (18,616 ) 12,423
TOTAL ASSETS LESS CURRENT
LIABILITIES

(14,244

)

18,110

CREDITORS
Amounts falling due after more than one
year

9

(7,551

)

(12,209

)

PROVISIONS FOR LIABILITIES (831 ) (1,081 )
NET (LIABILITIES)/ASSETS (22,626 ) 4,820

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (22,726 ) 4,720
SHAREHOLDERS' FUNDS (22,626 ) 4,820

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 director acknowledges her 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.

WESTCOUNTRY FAMILY WELLNESS LTD (REGISTERED NUMBER: 04620571)

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 director and authorised for issue on 18 September 2024 and were signed by:





Dr M Stephens - Director


WESTCOUNTRY FAMILY WELLNESS LTD (REGISTERED NUMBER: 04620571)

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

1. STATUTORY INFORMATION

Westcountry Family Wellness Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised evenly over its estimated useful life of seven years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 10% on cost
Library - 10% on cost
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


WESTCOUNTRY FAMILY WELLNESS LTD (REGISTERED NUMBER: 04620571)

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

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Going concern
The company has net liabilities and is reliant upon the continued support of its director.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 30,000
AMORTISATION
At 1 January 2023
and 31 December 2023 30,000
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

WESTCOUNTRY FAMILY WELLNESS LTD (REGISTERED NUMBER: 04620571)

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

5. TANGIBLE FIXED ASSETS
Fixtures
Short and Computer
leasehold Library fittings equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 4,306 1,774 76,307 18,586 100,973
Additions - - - 1,123 1,123
Disposals - - (1,707 ) (2,556 ) (4,263 )
At 31 December 2023 4,306 1,774 74,600 17,153 97,833
DEPRECIATION
At 1 January 2023 4,306 1,772 71,796 17,412 95,286
Charge for year - - 1,047 820 1,867
Eliminated on disposal - - (1,398 ) (2,294 ) (3,692 )
At 31 December 2023 4,306 1,772 71,445 15,938 93,461
NET BOOK VALUE
At 31 December 2023 - 2 3,155 1,215 4,372
At 31 December 2022 - 2 4,511 1,174 5,687

6. STOCKS
31/12/23 31/12/22
£    £   
Finished goods 2,852 3,050

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Trade debtors 394 322
Other debtors 40,496 27,749
40,890 28,071

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Bank loans and overdrafts (see note 10) 5,076 10,313
Trade creditors 1,976 75
Tax 12,131 7,424
Social security and other taxes 201 36
VAT 47,485 -
Other creditors 2,465 2,260
Credit card 4,038 2,021
Amex 165 139
Accrued expenses 1,116 2,163
74,653 24,431

WESTCOUNTRY FAMILY WELLNESS LTD (REGISTERED NUMBER: 04620571)

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

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/12/23 31/12/22
£    £   
Bank loans (see note 10) 7,551 12,209

10. LOANS

An analysis of the maturity of loans is given below:

31/12/23 31/12/22
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts - 3,945
Bank loans 5,076 6,368
5,076 10,313

Amounts falling due between one and two years:
Bank loans - 1-2 years 5,400 6,720

Amounts falling due between two and five years:
Bank loans - 2-5 years 2,151 5,489

11. OTHER FINANCIAL COMMITMENTS

The company had total guarantees and commitments at the balance sheet date of £9,852 (2022 - £11,352)

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

31/12/23 31/12/22
£    £   
Dr M Stephens
Balance outstanding at start of year 26,575 17,695
Amounts advanced 55,787 61,864
Amounts repaid (53,190 ) (52,984 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 29,172 26,575

During the year ended 31 December 2023 dividends were taken in excess of available reserves. The director has confirmed that no further dividends will be declared until profits have replenished the reserves.