8 9 Wellbrook Ventures Limited 07012449 false 2023-08-01 2024-07-31 2024-07-31 The principal activity of the company is that of pharmacutical supplies. Digita Accounts Production Advanced 6.30.9574.0 true true 07012449 2023-08-01 2024-07-31 07012449 2024-07-31 07012449 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-07-31 07012449 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-07-31 07012449 core:CurrentFinancialInstruments 2024-07-31 07012449 core:CurrentFinancialInstruments core:WithinOneYear 2024-07-31 07012449 core:Non-currentFinancialInstruments core:AfterOneYear 2024-07-31 07012449 core:FurnitureFittingsToolsEquipment 2024-07-31 07012449 core:MotorVehicles 2024-07-31 07012449 bus:SmallEntities 2023-08-01 2024-07-31 07012449 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 07012449 bus:FilletedAccounts 2023-08-01 2024-07-31 07012449 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 07012449 bus:RegisteredOffice 2023-08-01 2024-07-31 07012449 bus:Director1 2023-08-01 2024-07-31 07012449 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 07012449 core:FurnitureFittings 2023-08-01 2024-07-31 07012449 core:FurnitureFittingsToolsEquipment 2023-08-01 2024-07-31 07012449 core:MotorCars 2023-08-01 2024-07-31 07012449 core:MotorVehicles 2023-08-01 2024-07-31 07012449 1 2023-08-01 2024-07-31 07012449 countries:EnglandWales 2023-08-01 2024-07-31 07012449 2023-07-31 07012449 core:FurnitureFittingsToolsEquipment 2023-07-31 07012449 core:MotorVehicles 2023-07-31 07012449 2022-08-01 2023-07-31 07012449 2023-07-31 07012449 core:HirePurchaseContracts core:CurrentFinancialInstruments core:PreviouslyStatedAmount 2023-07-31 07012449 core:HirePurchaseContracts core:Non-currentFinancialInstruments core:PreviouslyStatedAmount 2023-07-31 07012449 core:CurrentFinancialInstruments 2023-07-31 07012449 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 07012449 core:CurrentFinancialInstruments core:WithinOneYear core:PreviouslyStatedAmount 2023-07-31 07012449 core:Non-currentFinancialInstruments core:AfterOneYear 2023-07-31 07012449 core:FurnitureFittingsToolsEquipment 2023-07-31 07012449 core:MotorVehicles 2023-07-31 07012449 core:PreviouslyStatedAmount 2023-07-31 xbrli:pure iso4217:GBP

Registration number: 07012449

Wellbrook Ventures Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2024

 

Wellbrook Ventures Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Wellbrook Ventures Limited

(Registration number: 07012449)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

31,409

25,890

Current assets

 

Stocks

5

21,283

23,955

Debtors

6

110,604

118,519

Cash at bank and in hand

 

114,403

133,705

 

246,290

276,179

Creditors: Amounts falling due within one year

7

(259,230)

(293,782)

Net current liabilities

 

(12,940)

(17,603)

Total assets less current liabilities

 

18,469

8,287

Creditors: Amounts falling due after more than one year

7

(9,333)

-

Provisions for liabilities

(7,852)

(6,473)

Net assets

 

1,284

1,814

Capital and reserves

 

Called up share capital

1,002

1,002

Retained earnings

282

812

Shareholders' funds

 

1,284

1,814

 

Wellbrook Ventures Limited

(Registration number: 07012449)
Balance Sheet as at 31 July 2024

For the financial year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 4 April 2025
 

.........................................
Mr I Khan
Director

 

Wellbrook Ventures Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
150 Deane Road
Bolton
BL3 5DL
England

These financial statements were authorised for issue by the director on 4 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Wellbrook Ventures Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

15% reducing balance basis

Motor vehicles

25% reducing balance basis

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Wellbrook Ventures Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 8 (2023 - 9).

 

Wellbrook Ventures Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 August 2023

6,004

40,843

46,847

Additions

2,142

11,900

14,042

At 31 July 2024

8,146

52,743

60,889

Depreciation

At 1 August 2023

5,024

15,933

20,957

Charge for the year

312

8,211

8,523

At 31 July 2024

5,336

24,144

29,480

Carrying amount

At 31 July 2024

2,810

28,599

31,409

At 31 July 2023

980

24,910

25,890

5

Stocks

2024
£

2023
£

Finished goods and goods for resale

21,283

23,955

6

Debtors

Current

Note

2024
£

2023
£

Amounts owed by related parties

12,160

6,160

Prepayments

 

89,120

96,137

Other debtors

 

9,324

16,222

   

110,604

118,519

 

Wellbrook Ventures Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

997

-

Trade creditors

 

226,430

271,509

Taxation and social security

 

10,509

3,632

Accruals and deferred income

 

7,725

7,650

Other creditors

 

13,569

10,991

 

259,230

293,782

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

9,333

-

8

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Hire purchase contracts

9,333

-

2024
£

2023
£

Current loans and borrowings

Hire purchase contracts

997

-

9

Parent and ultimate parent undertaking

The company's immediate parent is Superpharm Bolton Limited, incorporated in England & Wales.