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REGISTERED NUMBER: 05431894 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2024

FOR

WELLS SECURITIES LIMITED

WELLS SECURITIES LIMITED (REGISTERED NUMBER: 05431894)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


WELLS SECURITIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







DIRECTOR: J Glinnan





REGISTERED OFFICE: 19-21 Middle Row
Stevenage
Hertfordshire
SG1 3AW





REGISTERED NUMBER: 05431894 (England and Wales)





ACCOUNTANTS: Barker Wilkinson Limited
19-21 Middle Row
Stevenage
Hertfordshire
SG1 3AW

WELLS SECURITIES LIMITED (REGISTERED NUMBER: 05431894)

BALANCE SHEET
31ST MARCH 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Cash at bank 585,625 633,749

CREDITORS
Amounts falling due within one year 4 551,881 601,913
NET CURRENT ASSETS 33,744 31,836
TOTAL ASSETS LESS CURRENT
LIABILITIES

33,744

31,836

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 33,742 31,834
SHAREHOLDERS' FUNDS 33,744 31,836

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 23rd October 2024 and were signed by:





J Glinnan - Director


WELLS SECURITIES LIMITED (REGISTERED NUMBER: 05431894)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024

1. STATUTORY INFORMATION

Wells Securities Limited 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.

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.

The director has assessed various factors and risks affecting the company and its ability in these difficult economic times to continue to trade as a going concern. The director has not identified any material uncertainties or risks related to events or conditions that could affect the carrying values of the company's assets and liabilities as at the balance sheet date. Further, the director continues to support the company by way of director funding and has not indicated that such support will be withdrawn in the foreseeable future. Therefore the financial statements for the year ended 31st March 2024 have been prepared using the going concern basis of accounting.

Significant judgements and estimates
In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from those estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Turnover
Turnover includes the sale of securities and the net gains and losses on derivative futures trading.

Dividends, commissions and similar receipts and charges in relation to financial assets held for trading purposes are recognised as an element of gross profit.

Financial instruments
Financial assets that are held for trading are classified as financial assets at fair value through profit or loss.

Financial assets at fair value through profit or loss are re-measured to fair value at each subsequent balance sheet date until the assets are de-recognised. The gains and losses arising from changes in fair value are included in the income statement in the period in which they occur. Gains and losses will include both realised gains and losses arising on the disposal of these financial assets and unrealised gains and losses arising from changes in the fair value of the assets still held.

Other than financial assets helld for trading the company considers all other financial assets and liabilities to be basic financial instruments, these include trade and other debtors, cash and cash equivalents, and trade and other creditors, and are initially recognised at transaction price and thereafter stated at amortised cost

Taxation
Taxation for the year comprises current 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 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.

WELLS SECURITIES LIMITED (REGISTERED NUMBER: 05431894)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

2. ACCOUNTING POLICIES - continued

Foreign currencies
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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Corporation tax 448 660
Directors' current accounts 550,000 600,000
Accrued expenses 1,433 1,253
551,881 601,913