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Company registration number: 02438407
Wellbeing Products Limited
Unaudited filleted financial statements
30 April 2024
Wellbeing Products Limited
Contents
Statement of financial position
Notes to the financial statements
Wellbeing Products Limited
Statement of financial position
30 April 2024
2024 2023
Note £ £ £ £
Current assets
Stocks - 18,050
Debtors 5 427,251 395,302
Cash at bank and in hand 5,474 24,678
_______ _______
432,725 438,030
Creditors: amounts falling due
within one year 6 ( 137,420) ( 116,642)
_______ _______
Net current assets 295,305 321,388
_______ _______
Total assets less current liabilities 295,305 321,388
_______ _______
Net assets 295,305 321,388
_______ _______
Capital and reserves
Called up share capital 7 2 2
Profit and loss account 295,303 321,386
_______ _______
Shareholders funds 295,305 321,388
_______ _______
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 03 September 2024 , and are signed on behalf of the board by:
Mr R Jones
Director
Company registration number: 02438407
Wellbeing Products Limited
Notes to the financial statements
Year ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 13 Portland Road, Edgbaston, Birmingham, B16 9HN.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity and rounded to the nearest £1.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year arerecorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Debtors
2024 2023
£ £
Trade debtors 422,863 395,302
Other debtors 4,388 -
_______ _______
427,251 395,302
_______ _______
6. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 7 17,326
Corporation tax 1,857 3,156
Social security and other taxes 64,906 59,660
Other creditors 70,650 36,500
_______ _______
137,420 116,642
_______ _______
7. Called up share capital
Issued, called up and fully paid
2024 2023
No £ No £
Ordinary shares of £ 1.00 each 2 2 2 2
_______ _______ _______ _______