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Registration number: 09553534

Wellington IT Associates Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2024

 

Wellington IT Associates Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

Wellington IT Associates Limited

(Registration number: 09553534)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

47,371

2,375

Current assets

 

Debtors

6

24,376

14,450

Cash at bank and in hand

 

53,023

128,253

 

77,399

142,703

Creditors: Amounts falling due within one year

7

(27,292)

(85,543)

Net current assets

 

50,107

57,160

Total assets less current liabilities

 

97,478

59,535

Provisions for liabilities

(9,001)

(451)

Net assets

 

88,477

59,084

Capital and reserves

 

Called up share capital

8

40

40

Retained earnings

88,437

59,044

Shareholders' funds

 

88,477

59,084

For the financial 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.

Director's 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 director acknowledges his 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.

Approved and authorised by the director on 14 November 2024
 

Mr J S Wood
Director

   
     
 

Wellington IT Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
26 Whinmoor Gardens
Leeds
West Yorkshire
LS14 1AF
United Kingdom

These financial statements were authorised for issue by the director on 14 November 2024.

2

Accounting policies

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 and after eliminating sales within the company.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred 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.

 

Wellington IT Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer Equipment

Straight line - 33%

Motor vehicles

Straight line - 25%

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

4,130

2,443

 

Wellington IT Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

8,093

20,700

28,793

Additions

4,595

44,531

49,126

Disposals

-

(20,700)

(20,700)

At 30 April 2024

12,688

44,531

57,219

Depreciation

At 1 May 2023

5,718

20,700

26,418

Charge for the year

2,275

1,855

4,130

Eliminated on disposal

-

(20,700)

(20,700)

At 30 April 2024

7,993

1,855

9,848

Carrying amount

At 30 April 2024

4,695

42,676

47,371

At 30 April 2023

2,375

-

2,375

6

Debtors

Current

2024
£

2023
£

Trade debtors

14,912

13,545

Prepayments

726

572

Other debtors

8,738

333

 

24,376

14,450

 

Wellington IT Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

1,643

57,761

Trade creditors

 

170

130

Taxation and social security

 

24,803

27,003

Accruals and deferred income

 

676

649

 

27,292

85,543

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

20

20

20

20

A Ordinary shares of £1 each

19

19

19

19

B Ordinary shares of £1 each

1

1

1

1

40

40

40

40

9

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Other borrowings

1,643

57,761