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REGISTERED NUMBER: 14228897 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

FOR

WELLS STUDIOS LIMITED

WELLS STUDIOS LIMITED (REGISTERED NUMBER: 14228897)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WELLS STUDIOS LIMITED

COMPANY INFORMATION
for the Year Ended 31 July 2024







DIRECTOR: A P Wells





REGISTERED OFFICE: The Old Workshop
1 Ecclesall Road South
Sheffield
S11 9PA





REGISTERED NUMBER: 14228897 (England and Wales)





ACCOUNTANTS: Brown McLeod Limited
Chartered Accountants
The Old Workshop
1 Ecclesall Road South
Sheffield
South Yorkshire
S11 9PA

WELLS STUDIOS LIMITED (REGISTERED NUMBER: 14228897)

BALANCE SHEET
31 July 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 7,274 20,076
Investment property 5 662,464 573,141
669,738 593,217

CURRENT ASSETS
Debtors 6 - 34,092
Cash at bank 10,252 2,750
10,252 36,842
CREDITORS
Amounts falling due within one year 7 414,787 357,637
NET CURRENT LIABILITIES (404,535 ) (320,795 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

265,203

272,422

CREDITORS
Amounts falling due after more than one year 8 281,309 276,442
NET LIABILITIES (16,106 ) (4,020 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (16,206 ) (4,120 )
(16,106 ) (4,020 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

WELLS STUDIOS LIMITED (REGISTERED NUMBER: 14228897)

BALANCE SHEET - continued
31 July 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 director and authorised for issue on 25 February 2025 and were signed by:





A P Wells - Director


WELLS STUDIOS LIMITED (REGISTERED NUMBER: 14228897)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

Wells Studios 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.

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.
Plant and machinery etc - 10% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

WELLS STUDIOS LIMITED (REGISTERED NUMBER: 14228897)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 July 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2023 20,076
Additions 18,689
Disposals (30,035 )
At 31 July 2024 8,730
DEPRECIATION
Charge for year 1,456
At 31 July 2024 1,456
NET BOOK VALUE
At 31 July 2024 7,274
At 31 July 2023 20,076

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2023 573,141
Additions 89,323
At 31 July 2024 662,464
NET BOOK VALUE
At 31 July 2024 662,464
At 31 July 2023 573,141

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Other debtors - 34,092

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Taxation and social security 4,809 -
Other creditors 409,978 357,637
414,787 357,637

WELLS STUDIOS LIMITED (REGISTERED NUMBER: 14228897)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 July 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.24 31.7.23
£    £   
Other creditors 281,309 276,442

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal 249,309 141,617