Company Registration No. 11480616 (England and Wales)
Wellden Turnbull Limited
Unaudited accounts
for the year ended 30 June 2024
Wellden Turnbull Limited
Unaudited accounts
Contents
Wellden Turnbull Limited
Company Information
for the year ended 30 June 2024
Directors
Mrs E L Green
Mr R W John
Mr M Nelligan
Mr S Odam
Mr C Plumridge
Mr T A Clark
Company Number
11480616 (England and Wales)
Registered Office
Albany House
Claremont Lane
Esher
Surrey
KT10 9FQ
Wellden Turnbull Limited
Statement of financial position
as at 30 June 2024
Intangible assets
1,920,847
2,312,542
Tangible assets
328,193
372,172
Debtors
2,358,936
2,093,748
Cash at bank and in hand
232,303
196,072
Creditors: amounts falling due within one year
(1,461,821)
(1,308,053)
Net current assets
1,129,418
981,767
Total assets less current liabilities
3,378,462
3,666,485
Creditors: amounts falling due after more than one year
(1,026,462)
(1,303,229)
Provisions for liabilities
Deferred tax
(77,123)
(87,324)
Net assets
2,274,877
2,275,932
Called up share capital
250
250
Profit and loss account
2,274,627
2,275,682
Shareholders' funds
2,274,877
2,275,932
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 30 January 2025 and were signed on its behalf by
Mrs E L Green
Director
Company Registration No. 11480616
Wellden Turnbull Limited
Notes to the Accounts
for the year ended 30 June 2024
Wellden Turnbull Limited is a private company, limited by shares, registered in England and Wales, registration number 11480616. The registered office is Albany House, Claremont Lane, Esher, Surrey, KT10 9FQ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and Companies Act 2006.
The company is a parent company and is exempt from the requirement to prepare group accounts by virtue of section 399 of the Companies Act 2006. These financial statements therefore present information about the company as an individual undertaking and not about its group.
The following principal accounting policies have been applied:
The accounts are presented in £ sterling and rounded to the nearest £.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the sage of completion of the contract when all the following conditions are satisfied:
- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% straight line
Computer equipment
33% straight line
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Goodwill is recognised over its estimated useful life of 3-15 years.
Wellden Turnbull Limited
Notes to the Accounts
for the year ended 30 June 2024
Investments in subsidiaries are held at cost less impairment.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
4
Intangible fixed assets
Goodwill
Charge for the year
349,488
Wellden Turnbull Limited
Notes to the Accounts
for the year ended 30 June 2024
5
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 July 2023
491,247
63,680
554,927
Additions
3,830
15,906
19,736
At 30 June 2024
495,077
79,586
574,663
At 1 July 2023
138,257
44,498
182,755
Charge for the year
49,992
13,723
63,715
At 30 June 2024
188,249
58,221
246,470
At 30 June 2024
306,828
21,365
328,193
At 30 June 2023
352,990
19,182
372,172
6
Investments
Subsidiary undertakings
Valuation at 1 July 2023
4
Valuation at 30 June 2024
4
The Company owns the share capital of two dormant companies, Wellco Secretaries Ltd and Wellco Trustees Limited.
Amounts falling due within one year
Trade debtors
1,575,173
1,163,236
Accrued income and prepayments
765,668
894,974
Other debtors
18,095
35,538
8
Creditors: amounts falling due within one year
2024
2023
Trade creditors
213,585
86,520
Taxes and social security
802,310
670,789
Other creditors
268,719
356,862
Loans from directors
6,083
4,853
9
Creditors: amounts falling due after more than one year
2024
2023
Other creditors
1,026,462
1,303,229
Wellden Turnbull Limited
Notes to the Accounts
for the year ended 30 June 2024
10
Deferred taxation
2024
2023
Accelerated capital allowances
77,123
87,324
Provision at start of year
87,324
97,309
Credited to the profit and loss account
(10,201)
(9,985)
Provision at end of year
77,123
87,324
Allotted, called up and fully paid:
50 A Ordinary Shares of £1 each
50
50
50 B Ordinary Shares of £1 each
50
50
50 C Ordinary Shares of £1 each
50
50
50 D Ordinary Shares of £1 each
50
50
50 E Ordinary Shares of £1 each
50
50
12
Operating lease commitments
2024
2023
At 30 June 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
157,590
145,002
Later than one year and not later than five years
541,464
504,899
Later than five years
142,917
288,742
13
Average number of employees
During the year the average number of employees was 58 (2023: 56).