Registered Number:04224184 |
For the year ended 30 June 2024
England and Wales
Unaudited Financial Statements
For the year ended 30 June 2024
Welcome Products Ltd
Contents Page
1
Statement of Financial Position
2 to 6
Notes to the Financial Statements
Welcome Products Ltd
Statement of Financial Position
2023
2024
43,109
73,539
2
Property, plant and equipment |
2,922
3,652
3
46,031
77,191
387,818
439,556
4
Trade and other receivables |
107,039
124,400
5
305,790
Cash and cash equivalents |
297,559
861,515
800,647
Trade and other payables: amounts falling due within one |
year |
(232,380)
(269,181)
6
568,267
592,334
Net current assets
Total assets less current liabilities |
638,365
645,458
Trade and other payables: amounts falling due after more |
than one year |
(33,796)
(28,241)
7
610,124
Net assets
611,662
100
100
610,024
611,562
610,124
611,662
Shareholders' funds
For the year ended 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 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 proper 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 Section |
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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. |
These financial statements were approved and authorised for issue by the Board on 19 March 2025 and were signed by: |
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For the year ended 30 June 2024
Welcome Products Ltd
Statement of Financial Position Continued
The notes form part of these financial statements |
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For the year ended 30 June 2024
Welcome Products Ltd
Notes to the Financial Statements
Statutory Information
Welcome Products Ltd is a private limited company, limited by shares, domiciled in England and Wales, registration |
number 04224184. |
Avad House
Belvue Road
Northolt
Middlesex
UB5 5HY
The presentation currency is £ sterling. |
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of the Financial |
Reporting Standard 102 "The Financial Reporting Standard applicable in the Uk and Republic of Ireland" and the |
Companies Act 2006. The financial statements have been prepared under the historical costs convention as |
modified by the revaluation of certain assets. |
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax or other similar sales taxes. |
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of 5 years. |
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
Computer Equipment
Furniture and Fittings
Inventories
Inventories are value at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate at the date of transaction. Exchange rate differences are taken into account in arriving at the operating result. |
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For the year ended 30 June 2024
Welcome Products Ltd
Notes to the Financial Statements Continued
2. Intangible fixed assets |
Goodwill
152,150
152,150
78,611
30,430
Charge for year
109,041
43,109
73,539
3. Property, plant and equipment |
6,943
5,119
1,824
1,824
5,119
6,943
Provision for depreciation and impairment |
3,291
2,334
957
Charge for year
730
557
173
4,021
2,891
1,130
694
2,228
2,922
867
2,785
3,652
2023
2024
439,556
387,818
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For the year ended 30 June 2024
Welcome Products Ltd
Notes to the Financial Statements Continued
5. Trade and other receivables |
2023
2024
92,544
83,991
31,856
23,048
107,039
124,400
6. Trade and other payables: amounts falling due within one year |
2023
2024
5,556
5,556
16,073
41,498
Amounts owed to group undertaking and undertaking in which the |
company has a participating interest |
224,407
165,036
Taxation and social security |
19,427
14,478
3,718
5,812
269,181
232,380
7. Trade and other payables: amounts falling due after more than one year |
2023
2024
28,241
33,796
Bounce Bank Loan Scheme is government backed loan which is repayable in 6 years.
8. Related party transactions |
During the year the company paid rent of £25,000 (2023 £25,000) to Avad Property Investments, a partnership in |
which the directors have a beneficial interest. |
The company has taken advantage of the exemption, under the terms of Financial Reporting Standard 102 'The |
financial Reporting Standard applicable to UK and Republic of Ireland' not to disclose related party transactions with |
the wholly owned subsidairies within the group. |
9. Average number of persons employed |
During the year the average number of employees was 0
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For the year ended 30 June 2024
Welcome Products Ltd
Notes to the Financial Statements Continued
10. Parent-subsidiary relationship |
Avad Group Limited, a company incorporated in England & Wales is the immediate and ultimate parent company. Registered office of the parent company is Avad HouseBelvue RoadNortholt Industrial EstateNortholt Middlesex UB5 5HY |
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