Registered number
07841835
WELLS BED SHOP LIMITED
Filleted Accounts
31 December 2024
WELLS BED SHOP LIMITED
Registered number: 07841835
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 13,091 17,011
Investments 4 83,861 80,000
96,952 97,011
Current assets
Stocks 9,413 9,187
Debtors 5 4,888 5,569
Cash at bank and in hand 125,356 114,575
139,657 129,331
Creditors: amounts falling due within one year 6 (22,941) (15,298)
Net current assets 116,716 114,033
Net assets 213,668 211,044
Capital and reserves
Called up share capital 1 1
Profit and loss account 213,667 211,043
Shareholder's funds 213,668 211,044
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Rachel Court
Director
Approved by the board on 28 April 2025
WELLS BED SHOP LIMITED
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor Vehicles 25% straight line
Plant and machinery 33% straight line
Fixtures, fittings, tools and equipment 15% straight line
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 6
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 January 2024 8,712 18,000 26,712
At 31 December 2024 8,712 18,000 26,712
Depreciation
At 1 January 2024 5,201 4,500 9,701
Charge for the year 545 3,375 3,920
At 31 December 2024 5,746 7,875 13,621
Net book value
At 31 December 2024 2,966 10,125 13,091
At 31 December 2023 3,511 13,500 17,011
4 Investments
Other
investments
£
Cost
At 1 January 2024 80,000
Additions 3,861
At 31 December 2024 83,861
5 Debtors 2024 2023
£ £
Trade debtors 4,221 4,733
Other debtors 667 836
4,888 5,569
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 2,791 1,705
Taxation and social security costs 12,462 10,675
Other creditors 7,688 2,918
22,941 15,298
7 Controlling party
Rachel Court is the sole director and has 100% control of the company.
8 Other information
WELLS BED SHOP LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
44 Westfield Road
Wells
Somerset
BA5 2HS
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