Registered number
04878172
Wells Senior Limited
Filleted Accounts
31 March 2024
Wells Senior Limited
Registered number: 04878172
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 28,965 35,757
Current assets
Stocks 5,500 3,700
Debtors 4 60,585 59,857
Cash at bank and in hand 70,751 68,409
136,836 131,966
Creditors: amounts falling due within one year 5 (66,987) (58,963)
Net current assets 69,849 73,003
Total assets less current liabilities 98,814 108,760
Creditors: amounts falling due after more than one year 6 (12,500) (22,500)
Provisions for liabilities (5,503) (6,794)
Net assets 80,811 79,466
Capital and reserves
Called up share capital 2 2
Profit and loss account 80,809 79,464
Shareholders' funds 80,811 79,466
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr G J Wells
Director
Approved by the board on 19 November 2024
Wells Senior Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures & equipment 25% reducing balance
Bicycle 25% reducing balance
Motor vehicles 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2023 34,700 57,063 91,763
Additions 2,476 396 2,872
At 31 March 2024 37,176 57,459 94,635
Depreciation
At 1 April 2023 30,003 26,003 56,006
Charge for the year 1,799 7,865 9,664
At 31 March 2024 31,802 33,868 65,670
Net book value
At 31 March 2024 5,374 23,591 28,965
At 31 March 2023 4,697 31,060 35,757
4 Debtors 2024 2023
£ £
Trade debtors 53,900 51,600
Other debtors 6,685 8,257
60,585 59,857
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,000 10,000
Trade creditors 60 939
Taxation and social security costs 53,223 44,609
Other creditors 3,704 3,415
66,987 58,963
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 12,500 22,500
7 Pension commitments
The company operates an Auto Enrolment Pension Scheme. The costs are expensed to the Profit and Loss account in the period to which they relate.
8 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 22,122 10,532
9 Related party transactions
The directors received salaries of £25,440 (2023: £20,360) during the year.

The balance of the directors loan was £Nil (2023: £Nil) at the year end. Advances of £108,301 and repayments of £108,301 were made during the year, and no amounts were written off. This loan is interest free and repayable on demand.
10 Other information
Wells Senior Limited is a private company limited by shares and incorporated in England. Its registered office is:
Gunnery House
Gunnery Terrace
Leamington Spa
Warwickshire
CV32 5PE
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