WELZH WERKZEUG LIMITED

Company Registration Number:
SC403220 (Scotland)

Unaudited abridged accounts for the year ended 31 December 2023

Period of accounts

Start date: 01 January 2023

End date: 31 December 2023

WELZH WERKZEUG LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2023

Balance sheet
Notes

WELZH WERKZEUG LIMITED

Balance sheet

As at 31 December 2023


Notes

2023

2022


£

£
Fixed assets
Tangible assets: 3 963,762 781,086
Total fixed assets: 963,762 781,086
Current assets
Stocks: 1,528,406 1,984,946
Debtors: 4 924,351 842,730
Cash at bank and in hand: 1,742,059 505,706
Total current assets: 4,194,816 3,333,382
Creditors: amounts falling due within one year: 5 (1,172,932) (981,380)
Net current assets (liabilities): 3,021,884 2,352,002
Total assets less current liabilities: 3,985,646 3,133,088
Creditors: amounts falling due after more than one year: 6 (18,399) (32,138)
Provision for liabilities: (31,696) (26,615)
Total net assets (liabilities): 3,935,551 3,074,335
Capital and reserves
Called up share capital: 200 200
Profit and loss account: 3,935,351 3,074,135
Shareholders funds: 3,935,551 3,074,335

The notes form part of these financial statements

WELZH WERKZEUG LIMITED

Balance sheet statements

For the year ending 31 December 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 22 July 2024
and signed on behalf of the board by:

Name: T WELCH
Status: Director

The notes form part of these financial statements

WELZH WERKZEUG LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

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 and depreciation policy

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life Plant & machinery etc -25% on reducing balance Land & buildings -no provision

Valuation and information policy

Stocks are valued at the lower of cost and net realisable value

Other accounting policies

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

WELZH WERKZEUG LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

2. Employees

2023 2022
Average number of employees during the period 11 12

WELZH WERKZEUG LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Tangible Assets

Total
Cost £
At 01 January 2023 905,878
Additions 336,454
Disposals (98,935)
At 31 December 2023 1,143,397
Depreciation
At 01 January 2023 124,792
Charge for year 64,738
On disposals (9,895)
At 31 December 2023 179,635
Net book value
At 31 December 2023 963,762
At 31 December 2022 781,086

WELZH WERKZEUG LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Debtors

2023 2022
££
Debtors due after more than one year: 0 0

WELZH WERKZEUG LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

5. Creditors: amounts falling due within one year note

The amount due of £1172932 is made up as follows : Trade creditors £574548 Taxation & social security £598258 Other creditors £126

WELZH WERKZEUG LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

6. Creditors: amounts falling due after more than one year note

The amount due of £18399 is made up as follows : Bank Loans £14349 Other creditors £4050

WELZH WERKZEUG LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

7. Loans to directors

Name of director receiving advance or credit: T WELCH
Description of the loan: Advances
£
Balance at 01 January 2023 103,517
Advances or credits repaid: 551
Balance at 31 December 2023 102,966

The advances to the director are interest bearing and are repayable on demand