Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31false2023-04-01No description of principal activity79truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 05947422 2023-04-01 2024-03-31 05947422 2022-04-01 2023-03-31 05947422 2024-03-31 05947422 2023-03-31 05947422 c:Director5 2023-04-01 2024-03-31 05947422 d:MotorVehicles 2023-04-01 2024-03-31 05947422 d:FurnitureFittings 2023-04-01 2024-03-31 05947422 d:FurnitureFittings 2024-03-31 05947422 d:FurnitureFittings 2023-03-31 05947422 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 05947422 d:OtherPropertyPlantEquipment 2024-03-31 05947422 d:OtherPropertyPlantEquipment 2023-03-31 05947422 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 05947422 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 05947422 d:CurrentFinancialInstruments 2024-03-31 05947422 d:CurrentFinancialInstruments 2023-03-31 05947422 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 05947422 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 05947422 d:ShareCapital 2024-03-31 05947422 d:ShareCapital 2023-03-31 05947422 d:RetainedEarningsAccumulatedLosses 2024-03-31 05947422 d:RetainedEarningsAccumulatedLosses 2023-03-31 05947422 c:FRS102 2023-04-01 2024-03-31 05947422 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 05947422 c:FullAccounts 2023-04-01 2024-03-31 05947422 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 05947422 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 05947422 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 05947422 d:OtherDeferredTax 2024-03-31 05947422 d:OtherDeferredTax 2023-03-31 05947422 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 05947422










WELLE LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
WELLE LIMITED
REGISTERED NUMBER: 05947422

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
66,902
80,815

  
66,902
80,815

Current assets
  

Stocks
  
21,550
20,969

Debtors: amounts falling due within one year
 5 
109,878
143,757

Cash at bank and in hand
  
153,870
74,648

  
285,298
239,374

Creditors: amounts falling due within one year
 6 
(237,051)
(197,247)

Net current assets
  
 
 
48,247
 
 
42,127

Total assets less current liabilities
  
115,149
122,942

Provisions for liabilities
  

Deferred tax
 7 
(16,726)
(15,355)

  
 
 
(16,726)
 
 
(15,355)

Net assets
  
98,423
107,587


Capital and reserves
  

Called up share capital 
  
600
600

Profit and loss account
  
97,823
106,987

  
98,423
107,587


Page 1

 
WELLE LIMITED
REGISTERED NUMBER: 05947422
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Dr Bhardwaj
Director

Date: 29 October 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
WELLE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

The Company is a private company limited by shares, registered in England and Wales (registration number 05947422). The address of the registered office is Upwell Health Centre, Townley Close, Upwell, Wisbech, PE14 9BT.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The financial statements are presented in sterling which is the functional currency of the Company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

 
2.2

Going concern

The Directors have considered the Company's position at the time of signing the financial statements.  They have considered future trading expectations, the current financial position of the Company and other factors such as mitigating ongoing costs.  
Based on this, the Directors have concluded that the company will have adequate resources to continue in operational existence for at least twelve months from the date of signing these financial statements and will therefore adopt the going concern basis of accounting in preparing these financial statements.  

Page 3

 
WELLE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax.  Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
WELLE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.5
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
10%
Straight line
Fixtures and fittings
-
20%
Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

  
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis.
At each reporting date, stocks are assessed for impairment. If stock is 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.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
WELLE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.10

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including the Directors, during the year was as follows:


        2024
        2023
            No.
            No.







Employees
7
9

Page 6

 
WELLE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Fixtures and fittings
Plant and machinery
Total

£
£
£



Cost or valuation


At 1 April 2023
5,330
135,000
140,330



At 31 March 2024

5,330
135,000
140,330



Depreciation


At 1 April 2023
3,265
56,250
59,515


Charge for the year on owned assets
413
13,500
13,913



At 31 March 2024

3,678
69,750
73,428



Net book value



At 31 March 2024
1,652
65,250
66,902



At 31 March 2023
2,065
78,750
80,815


5.


Debtors

2024
2023
£
£


Trade debtors
81,033
117,844

Other debtors
25,686
22,149

Prepayments and accrued income
3,159
3,764

109,878
143,757


Page 7

 
WELLE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
40,836
42,792

Monies due to Upwell Health Centre
171,943
118,179

Corporation tax
15,129
10,906

Obligations under finance lease and hire purchase contracts
-
16,200

Other creditors
3,188
3,600

Accruals and deferred income
5,955
5,570

237,051
197,247



7.


Deferred taxation




2024


£






At beginning of year
(15,355)


Charged to profit or loss
(1,371)



At end of year
(16,726)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(15,355)
(23,708)

Charged to the profit and loss
(1,371)
8,353

(16,726)
(15,355)

 
Page 8