Wellingtons Limited 05011841 false 2023-02-01 2024-01-31 2024-01-31 The principal activity of the company is the retailing of artwork and associated software activities. The company has not traded since October 2005 Digita Accounts Production Advanced 6.30.9574.0 true true 05011841 2023-02-01 2024-01-31 05011841 2024-01-31 05011841 bus:OrdinaryShareClass1 2024-01-31 05011841 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 05011841 bus:SmallEntities 2023-02-01 2024-01-31 05011841 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 05011841 bus:FullAccounts 2023-02-01 2024-01-31 05011841 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 05011841 bus:RegisteredOffice 2023-02-01 2024-01-31 05011841 bus:CompanySecretary1 2023-02-01 2024-01-31 05011841 bus:Director1 2023-02-01 2024-01-31 05011841 bus:Director3 2023-02-01 2024-01-31 05011841 bus:OrdinaryShareClass1 2023-02-01 2024-01-31 05011841 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 05011841 countries:EnglandWales 2023-02-01 2024-01-31 05011841 2022-02-01 2023-01-31 05011841 2023-01-31 05011841 bus:OrdinaryShareClass1 2023-01-31 05011841 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 05011841

Wellingtons Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

Wellingtons Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Wellingtons Limited

Company Information

Directors

Oliver Neil Lauder

Hamish Nicholas Lauder

Company secretary

Mrs Helen Colbert Lauder

Registered office

54 High Street
Burford
Oxfordshire
OX18 4QF

Accountants

ReesRussell LLP
Chartered Accountants
37 Market Square
Witney
Oxfordshire
OX28 6RE

 

Wellingtons Limited

(Registration number: 05011841)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

624,121

-

Current assets

 

Stocks

5

3,674

3,674

Cash at bank and in hand

 

18,845

4,375

 

22,519

8,049

Creditors: Amounts falling due within one year

6

(627,310)

(11,509)

Net current liabilities

 

(604,791)

(3,460)

Net assets/(liabilities)

 

19,330

(3,460)

Capital and reserves

 

Called up share capital

7

200

1

Retained earnings

19,130

(3,461)

Shareholders' funds/(deficit)

 

19,330

(3,460)

For the financial year ending 31 January 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 accounts for the year in question in accordance with section 476; and

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

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 31 October 2024 and signed on its behalf by:
 

.........................................
Oliver Neil Lauder
Director

 

Wellingtons Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
54 High Street
Burford
Oxfordshire
OX18 4QF

These financial statements were authorised for issue by the Board on 31 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Wellingtons Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Investment properties

2024
£

Additions

636,621

Disposals

(12,500)

At 31 January

624,121

 

Wellingtons Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

There has been no valuation of investment property by an independent valuer.

5

Stocks

2024
£

2023
£

Other inventories

3,674

3,674

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Directors' current account

619,801

-

Other creditors

 

7,509

11,509

 

627,310

11,509

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

200

200

1

1