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Registration number: NI034143

Wellington Gifts Ltd

Unaudited Financial Statements

for the Year Ended 29 February 2024

 

Wellington Gifts Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 4

 

Wellington Gifts Ltd

(Registration number: NI034143)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

123,100

155,158

Current assets

 

Debtors

-

234

Creditors: Amounts falling due within one year

6

(285,790)

(298,805)

Net current liabilities

 

(285,790)

(298,571)

Total assets less current liabilities

 

(162,690)

(143,413)

Creditors: Amounts falling due after more than one year

6

(150,000)

(150,000)

Net liabilities

 

(312,690)

(293,413)

Capital and reserves

 

Called up share capital

7

36,000

36,000

Retained earnings

(348,690)

(329,413)

Shareholders' deficit

 

(312,690)

(293,413)

For the financial year ending 29 February 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.

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 director on 20 November 2024
 

.........................................
Mr William J Alexander
Director

 

Wellington Gifts Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is:
14-16 Church Street
Ballymena
Co Antrim
BT43 6DE

These financial statements were authorised for issue by the director on 20 November 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 business ceased trading on 31/08/2018 and is to be wound up.

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

Fixtures & fittings

25% reducing balance basis

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 2).

 

Wellington Gifts Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

4

Loss before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

30

52

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 March 2023

155,000

20,095

175,095

Disposals

(32,000)

(7,980)

(39,980)

At 29 February 2024

123,000

12,115

135,115

Depreciation

At 1 March 2023

-

19,937

19,937

Charge for the year

-

30

30

Eliminated on disposal

-

(7,952)

(7,952)

At 29 February 2024

-

12,015

12,015

Carrying amount

At 29 February 2024

123,000

100

123,100

At 28 February 2023

155,000

158

155,158

Included within the net book value of land and buildings above is £123,000 (2023 - £155,000) in respect of freehold land and buildings.
 

During the year ended 28 February 2019, the mortgage holder had the premises revalued at £155,000, the market value.

 

Wellington Gifts Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

128,644

145,288

Trade creditors

 

1,179

1,189

Taxation and social security

 

19,297

19,212

Accruals and deferred income

 

22,136

18,679

Other creditors

 

114,534

114,437

 

285,790

298,805

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

Other non-current financial liabilities

150,000

150,000

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

36,000

36,000

36,000

36,000