Registered number
07550329
Well Foods & Drinks Limited
Filleted Accounts
30 April 2024
Well Foods & Drinks Limited
Registered number: 07550329
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 8,602 10,752
Tangible assets 4 20,175 25,219
28,777 35,971
Current assets
Stocks 155,017 125,167
Debtors 5 9,054 28,779
Cash at bank and in hand 9,163 -
173,234 153,946
Creditors: amounts falling due within one year 6 (184,352) (172,950)
Net current liabilities (11,118) (19,004)
Net assets 17,659 16,967
Capital and reserves
Called up share capital 100 100
Profit and loss account 17,559 16,867
Shareholder's funds 17,659 16,967
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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 Fedai Akguc
Director
Approved by the board on 20 January 2025
Well Foods & Drinks Limited
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 13 13
3 Intangible fixed assets £
Goodwill:
Cost
At 1 May 2023 35,000
At 30 April 2024 35,000
Amortisation
At 1 May 2023 24,248
Provided during the year 2,150
At 30 April 2024 26,398
Net book value
At 30 April 2024 8,602
At 30 April 2023 10,752
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 May 2023 40,000 37,391 15,995 93,386
At 30 April 2024 40,000 37,391 15,995 93,386
Depreciation
At 1 May 2023 31,224 29,931 7,012 68,167
Charge for the year 1,756 1,492 1,796 5,044
At 30 April 2024 32,980 31,423 8,808 73,211
Net book value
At 30 April 2024 7,020 5,968 7,187 20,175
At 30 April 2023 8,776 7,460 8,983 25,219
5 Debtors 2024 2023
£ £
Rates - 1,598
Insurance-Shop - 481
Akkes Ltd (Loan) 7,554 26,700
Other debtors 1,500 -
9,054 28,779
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts - 3,536
Suppliers 35,682 15,862
Taxation and social security costs 5,843 8,879
Unal Akguc - 990
Inan Kesen - 990
Fedai Akguc - 3,036
Other creditors 142,827 139,657
184,352 172,950
7 Other information
Well Foods & Drinks Limited is a private company limited by shares and incorporated in England. Its registered office is:
245-251
Well Street
London
E9 6RG
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