Registered number
10149001
Wellington Estates NW Limited
Filleted Accounts
30 April 2024
Wellington Estates NW Limited
Registered number: 10149001
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 2,117,496 2,117,974
2,117,496 2,117,974
Current assets
Debtors 5 73,154 58,379
Cash at bank and in hand 212,547 190,904
285,701 249,283
Creditors: amounts falling due within one year 6 (29,217) (32,924)
Net current assets 256,484 216,359
Total assets less current liabilities 2,373,980 2,334,333
Creditors: amounts falling due after more than one year 7 (2,127,795) (2,127,795)
Provisions for liabilities (1,034) (958)
Net assets 245,151 205,580
Capital and reserves
Called up share capital 1 1
Profit and loss account 245,150 205,579
Shareholders' funds 245,151 205,580
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 members have 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.
M Azhar
Director
Approved by the board on 4 March 2025
Wellington Estates NW 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 rental of properties and related services.
Tangible fixed assets
No depreciation is provided on investment properties which is a departure from the requirements of the Companies Act 2006. In the opinion of the directors, these properties are held primarly for their investment potential so their market value is more significant than any measure of consumption and to depreciate them would not give a true and fair view. The amount of depreciation that would have charged cannot be reasonable quantified. Other fixed assets are depreciated as follows:
Freehold buildings Nil
Plant and machinery 10% on cost on reducing basis
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.
3 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 May 2023 2,112,931 9,828 - 2,122,759
Additions - - - -
Surplus on revaluation - - - -
Disposals - - - -
At 30 April 2024 2,112,931 9,828 - 2,122,759
Depreciation
At 1 May 2023 - 4,785 - 4,785
Charge for the year - 478 - 478
Surplus on revaluation - - - -
On disposals - - - -
At 30 April 2024 - 5,263 - 5,263
Net book value
At 30 April 2024 2,112,931 4,565 - 2,117,496
At 30 April 2023 2,112,931 5,043 - 2,117,974
5 Debtors 2024 2023
£ £
Trade debtors - -
Amounts owed by related undertakings 58,379 58,379
Other debtors 14,775 -
73,154 58,379
6 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 29,217 32,174
Other creditors - 750
29,217 32,924
7 Creditors: amounts falling due after one year 2024 2023
£ £
Amounts owed to related undertakings 2,127,795 2,127,795
Other creditors - -
2,127,795 2,127,795
8 Related party transactions
Luton Engneering Services (Southwest) Limited
The company is under common control and controlled by Mr Henry Jones Abwuku Aboagye. At the year end the company owed Luton Engineering £2,127,795 (2023: £2,127,795).
St Johns Wood Real Estate Ltd
The company is under common control and controlled by Mr Henry Jones Abwuku Aboagye. At the year end the company was owed £58,379 (2023: £58,379).
9 Controlling party
The company is under control of Mr Henry Abwuku Aboagye, the sole beneficial owner of 100% issued share capital of the company.
10 Other information
Wellington Estates NW Limited is a private company limited by shares and incorporated in England. Its registered office is:
51 Pimblett Street
Manchester
M3 1FU
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