REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST JULY 2024 |
FOR |
WELCARE GUARDIAN LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST JULY 2024 |
FOR |
WELCARE GUARDIAN LIMITED |
WELCARE GUARDIAN LIMITED (REGISTERED NUMBER: 02818936) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST JULY 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
WELCARE GUARDIAN LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31ST JULY 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Abacus House |
450 Warrington Road |
Culcheth |
Warrington |
Cheshire |
WA3 5QX |
WELCARE GUARDIAN LIMITED (REGISTERED NUMBER: 02818936) |
BALANCE SHEET |
31ST JULY 2024 |
2024 | 2023 |
Notes | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
NET ASSETS |
WELCARE GUARDIAN LIMITED (REGISTERED NUMBER: 02818936) |
BALANCE SHEET - continued |
31ST JULY 2024 |
2024 | 2023 |
Notes | £ | £ | £ |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Revaluation reserve | 9 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
The financial statements were approved by the Board of Directors and authorised for issue on |
WELCARE GUARDIAN LIMITED (REGISTERED NUMBER: 02818936) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST JULY 2024 |
1. | STATUTORY INFORMATION |
Welcare Guardian Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents the fair value of the company's right to consideration in respect of services rendered during the year excluding VAT. |
Will security bank |
The company charges its clients an annual membership fee payable by standing order for the provision of a number of legal services supplied by the company's panel solicitors. These include legal advice,will storage, will updates and discounted legal assistance. |
Membership fees are payable annually throughout the lifetime of the client. |
Clients wills are stored at the office of the solicitor initially instructed to write the will in order that the document should be held safely and is capable of location upon the event of the death of the client. |
The average age of the company's clients is early forties and the average life expectancy a further 36 years. The director estimates that 1/5 of the costs associated with taking the initial instructions from the client may be attributed to securing the client's instruction to join the legal support membership scheme and the company has therefore adopted a policy of capitalising 1/5 of sales commissions paid in the year as an addition to the will security bank. |
The value of the will security bank is amortised at a rate of 3% per annum straight line to reflect the anticipated lapse rate of the scheme membership. The value of the will bank at 31st July 2024 is £1,130,308. |
Tangible fixed assets |
Fixtures and fittings | - |
Computer equipment | - |
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. |
WELCARE GUARDIAN LIMITED (REGISTERED NUMBER: 02818936) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST JULY 2024 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Will |
security |
bank |
£ |
COST OR VALUATION |
At 1st August 2023 |
Additions |
At 31st July 2024 |
AMORTISATION |
At 1st August 2023 |
Amortisation for year |
At 31st July 2024 |
NET BOOK VALUE |
At 31st July 2024 |
At 31st July 2023 |
WELCARE GUARDIAN LIMITED (REGISTERED NUMBER: 02818936) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST JULY 2024 |
4. | INTANGIBLE FIXED ASSETS - continued |
Cost or valuation at 31st July 2024 is represented by: |
Will |
security |
bank |
£ |
Valuation in 2015 | 1,080,034 |
Valuation in 2016 | 31,429 |
Valuation in 2017 | 37,739 |
Valuation in 2018 | 53,328 |
Valuation in 2019 | 55,201 |
Valuation in 2020 | 87,837 |
Valuation in 2021 | 62,711 |
Valuation in 2022 | 86,253 |
Valuation in 2023 | 124,334 |
Valuation in 2024 | 60,939 |
1,679,805 |
WELCARE GUARDIAN LIMITED (REGISTERED NUMBER: 02818936) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST JULY 2024 |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1st August 2023 |
Additions |
At 31st July 2024 |
DEPRECIATION |
At 1st August 2023 |
Charge for year |
At 31st July 2024 |
NET BOOK VALUE |
At 31st July 2024 |
At 31st July 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
WELCARE GUARDIAN LIMITED (REGISTERED NUMBER: 02818936) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST JULY 2024 |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans |
9. | RESERVES |
Revaluation |
reserve |
£ |
At 1st August 2023 |
Revaluation release | (44,531 | ) |
At 31st July 2024 |