Registered number
03332150
Wellness International Limited
Unaudited Filleted Accounts
30 April 2024
Wellness International Limited
Registered number: 03332150
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 233,659 243,849
Current assets
Stocks 9,500 10,500
Debtors 4 296,791 155,056
Cash at bank and in hand 1,029,223 812,447
1,335,514 978,003
Creditors: amounts falling due within one year 5 (766,999) (448,416)
Net current assets 568,515 529,587
Total assets less current liabilities 802,174 773,436
Creditors: amounts falling due after more than one year 6 (42,500) (72,500)
Provisions for liabilities (52,683) (46,331)
Net assets 706,991 654,605
Capital and reserves
Called up share capital 100 100
Profit and loss account 706,891 654,505
Shareholder's funds 706,991 654,605
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 member has 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.
Ms T Kalloo
Director
Approved by the board on 28 January 2025
Wellness International Limited
Notes to the Accounts
for the year ended 30 April 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 rendering of services, which 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:
Leasehold land and buildings over the lease term
Plant and machinery over 3-10 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.
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.
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 27 24
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 May 2023 68,984 227,528 207,316 503,828
Additions - 113,202 - 113,202
Disposals (68,984) (6,463) (16,999) (92,446)
At 30 April 2024 - 334,267 190,317 524,584
Depreciation
At 1 May 2023 30,662 144,268 85,049 259,979
Charge for the year 11,984 52,439 19,032 83,455
Surplus on revaluation (42,646) - - (42,646)
On disposals - (6,463) (3,400) (9,863)
At 30 April 2024 - 190,244 100,681 290,925
Net book value
At 30 April 2024 - 144,023 89,636 233,659
At 30 April 2023 38,322 83,260 122,267 243,849
4 Debtors 2024 2023
£ £
Trade debtors 241,929 126,576
Other debtors 54,862 28,480
296,791 155,056
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 30,000 30,000
Trade creditors 199,455 64,251
Taxation and social security costs 171,618 171,693
Other creditors 365,926 182,472
766,999 448,416
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 42,500 72,500
7 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 404,068 -
8 Other information
Wellness International Limited is a private company limited by shares and incorporated in England. Its registered office is:
Dakota House
Concord Business Park
Threapwood Road
Manchester
M22 0RR
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