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REGISTERED NUMBER: 03113238 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

Netwell Limited

Netwell Limited (Registered number: 03113238)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Netwell Limited

Company Information
for the Year Ended 30 June 2024







DIRECTOR: Mr G A Maxwell





SECRETARY: Mrs J Maxwell





REGISTERED OFFICE: Bryn Afallon Hiraddug Road
Dyserth
Denbigshire
LL18 6HS





REGISTERED NUMBER: 03113238 (England and Wales)





ACCOUNTANTS: J V Banks
Chartered Accountants
Banks House
Paradise Street
Rhyl
Denbighshire
LL18 3LW

Netwell Limited (Registered number: 03113238)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1 1
Tangible assets 5 273,662 280,734
273,663 280,735

CURRENT ASSETS
Stocks 52,366 78,988
Debtors 6 - 9,623
Cash at bank 55,794 38,463
108,160 127,074
CREDITORS
Amounts falling due within one year 7 145,103 167,958
NET CURRENT LIABILITIES (36,943 ) (40,884 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

236,720

239,851

CAPITAL AND RESERVES
Called up share capital 120 120
Retained earnings 236,600 239,731
236,720 239,851

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 January 2025 and were signed by:




Mr G A Maxwell - Director


Netwell Limited (Registered number: 03113238)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Netwell Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 1995, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - at varying rates on cost
Fixtures and fittings - Straight line over 5 years
Motor vehicles - Straight line over 10 years

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Netwell Limited (Registered number: 03113238)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 2,200
AMORTISATION
At 1 July 2023
and 30 June 2024 2,199
NET BOOK VALUE
At 30 June 2024 1
At 30 June 2023 1

Netwell Limited (Registered number: 03113238)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 July 2023 1,101,524 20,884 334,387 1,456,795
Additions 4,734 - 32,103 36,837
Disposals - - (6,000 ) (6,000 )
At 30 June 2024 1,106,258 20,884 360,490 1,487,632
DEPRECIATION
At 1 July 2023 937,315 19,515 219,231 1,176,061
Charge for year 16,019 978 22,112 39,109
Eliminated on disposal - - (1,200 ) (1,200 )
At 30 June 2024 953,334 20,493 240,143 1,213,970
NET BOOK VALUE
At 30 June 2024 152,924 391 120,347 273,662
At 30 June 2023 164,209 1,369 115,156 280,734

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors - 173
VAT - 7,856
Prepayments - 1,594
- 9,623

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 18,333 38,333
Other loans 62,249 68,141
Trade creditors 4,393 9,543
Tax 19,501 23,457
Social security and other taxes 5,940 6,047
VAT 6,187 -
Other creditors 3,127 434
Directors' current accounts 73 483
Accrued expenses 25,300 21,520
145,103 167,958