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REGISTERED NUMBER: 02818936 (England and Wales)












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: Mrs J Taylor
D Meakin





REGISTERED OFFICE: Abacus House
450 Warrington Road
Culcheth
Warrington
Cheshire
WA3 5QX





REGISTERED NUMBER: 02818936 (England and Wales)





ACCOUNTANTS: Hunter Healey Limited
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 1,130,308 1,119,764
Tangible assets 5 11,766 10,447
1,142,074 1,130,211

CURRENT ASSETS
Debtors 6 259,079 30,101
Cash at bank and in hand 50 110,849
259,129 140,950
CREDITORS
Amounts falling due within one year 7 491,988 381,965
NET CURRENT LIABILITIES (232,859 ) (241,015 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

909,215

889,196

CREDITORS
Amounts falling due after more than one
year

8

18,488

47,221
NET ASSETS 890,727 841,975

WELCARE GUARDIAN LIMITED (REGISTERED NUMBER: 02818936)

BALANCE SHEET - continued
31ST JULY 2024

2024 2023
Notes £    £    £   
CAPITAL AND RESERVES
Called up share capital 14,000 14,000
Share premium 13,600 13,600
Revaluation reserve 9 475,282 519,813
Retained earnings 387,845 294,562
SHAREHOLDERS' FUNDS 890,727 841,975

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 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.

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 24th April 2025 and were signed on its behalf by:





D Meakin - Director


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 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 as modified by the revaluation of certain assets.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Computer equipment - 25% on reducing balance

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 16 (2023 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Will
security
bank
£   
COST OR VALUATION
At 1st August 2023 1,618,866
Additions 60,939
At 31st July 2024 1,679,805
AMORTISATION
At 1st August 2023 499,102
Amortisation for year 50,395
At 31st July 2024 549,497
NET BOOK VALUE
At 31st July 2024 1,130,308
At 31st July 2023 1,119,764

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 5,058 15,669 20,727
Additions - 5,160 5,160
At 31st July 2024 5,058 20,829 25,887
DEPRECIATION
At 1st August 2023 4,450 5,830 10,280
Charge for year 91 3,750 3,841
At 31st July 2024 4,541 9,580 14,121
NET BOOK VALUE
At 31st July 2024 517 11,249 11,766
At 31st July 2023 608 9,839 10,447

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 179,146 14,100
Other debtors 79,933 16,001
259,079 30,101

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 48,510 48,552
Trade creditors 44,495 32,082
Taxation and social security 365,678 281,852
Other creditors 33,305 19,479
491,988 381,965

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 18,488 47,221

9. RESERVES
Revaluation
reserve
£   
At 1st August 2023 519,813
Revaluation release (44,531 )

At 31st July 2024 475,282