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REGISTERED NUMBER: 03569222 (England and Wales)











Financial Statements

for the Year Ended 30 June 2024

for

WILLIAM WELSTEAD LIMITED

WILLIAM WELSTEAD LIMITED (REGISTERED NUMBER: 03569222)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WILLIAM WELSTEAD LIMITED

Company Information
for the Year Ended 30 June 2024







DIRECTORS: Mr W A Welstead
Mr W Welstead





SECRETARY: Mr W Welstead





REGISTERED OFFICE: 42 Lytton Road
Barnet
Hertfordshire
EN5 5BY





REGISTERED NUMBER: 03569222 (England and Wales)





ACCOUNTANTS: Jeff Lermer & Associates
Chartered Accountants
42 Lytton Road
Barnet
Hertfordshire
EN5 5BY

WILLIAM WELSTEAD LIMITED (REGISTERED NUMBER: 03569222)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 27,859 35,629

CURRENT ASSETS
Stocks 5 490,800 479,669
Debtors 6 327,173 219,717
Cash at bank 60,932 76,338
878,905 775,724
CREDITORS
Amounts falling due within one year 7 484,082 456,477
NET CURRENT ASSETS 394,823 319,247
TOTAL ASSETS LESS CURRENT
LIABILITIES

422,682

354,876

CREDITORS
Amounts falling due after more than one year 8 (10,834 ) (30,833 )

PROVISIONS FOR LIABILITIES 9 (6,964 ) (8,907 )
NET ASSETS 404,884 315,136

CAPITAL AND RESERVES
Called up share capital 10 103 100
Fair value reserve 33,796 33,796
Retained earnings 370,985 281,240
SHAREHOLDERS' FUNDS 404,884 315,136

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 directors acknowledge their 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.

WILLIAM WELSTEAD LIMITED (REGISTERED NUMBER: 03569222)

Balance Sheet - continued
30 June 2024


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 Board of Directors and authorised for issue on 28 March 2025 and were signed on its behalf by:





Mr W A Welstead - Director


WILLIAM WELSTEAD LIMITED (REGISTERED NUMBER: 03569222)

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

1. STATUTORY INFORMATION

William Welstead 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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 3 (2023 - 3 ) .

WILLIAM WELSTEAD LIMITED (REGISTERED NUMBER: 03569222)

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

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 July 2023 19,953 46,751 66,704
Additions 2,082 - 2,082
Disposals (11,918 ) - (11,918 )
At 30 June 2024 10,117 46,751 56,868
DEPRECIATION
At 1 July 2023 15,736 15,339 31,075
Charge for year 1,433 7,853 9,286
Eliminated on disposal (11,352 ) - (11,352 )
At 30 June 2024 5,817 23,192 29,009
NET BOOK VALUE
At 30 June 2024 4,300 23,559 27,859
At 30 June 2023 4,217 31,412 35,629

5. STOCKS
30.6.24 30.6.23
£    £   
Stocks 490,800 479,669

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 186,049 91,446
Other debtors 72,788 127,455
Directors' current accounts 67,520 -
Prepayments and accrued income 816 816
327,173 219,717

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 10,000 10,000
Other loans 243,973 312,725
Hire purchase contracts 10,000 13,333
Trade creditors 60,116 78,944
Tax 128,210 29,183
Social security and other taxes 3,336 2,263
VAT 22,523 270
Other creditors 1,024 3,035
Accruals and deferred income 4,900 6,724
484,082 456,477

WILLIAM WELSTEAD LIMITED (REGISTERED NUMBER: 03569222)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 834 10,833
Hire purchase contracts - 10,000
10,834 30,833

9. PROVISIONS FOR LIABILITIES
30.6.24 30.6.23
£    £   
Deferred tax 6,964 8,907

Deferred
tax
£   
Balance at 1 July 2023 8,907
Provided during year (1,943 )
Balance at 30 June 2024 6,964

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 30.6.23
value: £    £   
59 A Ordinary £1 59 59
1 B Ordinary £1 1 1
40 C Ordinary £1 40 40
1 D Ordinary £1 1 -
1 E Ordinary £1 1 -
1 F Ordinary £1 1 -
103 100

Allotted and issued:
Number: Class: Nominal 30.6.24 30.6.23
value: £    £   
1 Share capital 5 £1 1 -
1 Share capital 6 £1 1 -
1 Share capital 7 £1 1 -
3 -

The following shares were issued during the year for cash at par :

1 D Ordinary share of £1
1 E Ordinary share of £1
1 F Ordinary share of £1

WILLIAM WELSTEAD LIMITED (REGISTERED NUMBER: 03569222)

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

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2024 and 30 June 2023:

30.6.24 30.6.23
£    £   
**UNKNOWN DIRECTOR 1**
Balance outstanding at start of year - -
Amounts advanced 302,940 -
Amounts repaid (235,420 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 67,520 -

As at the balance sheet date, included in debtors due within one year is £67,520 (2023: £Nil), due and payable by the director.

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr W A Welstead.