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Registered number: 04585095
Wellcare Construction Ltd.
Unaudited Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Company Information 1
Accountant's Report 2
Balance Sheet 3—4
Notes to the Financial Statements 5—7
Page 1
Company Information
Director Mr T Meredith
Company Number 04585095
Registered Office Hanover Buildings
11-13 Hanover Street
Liverpool
Merseyside
L1 3DN
Accountants ERC Accountants & Business Advisers Limited
Chartered Accountants
Hanover Buildings
11-13 Hanover Street
Liverpool
Merseyside
L1 3DN
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Accountant's Report
Chartered Accountant's report to the director on the preparation of the unaudited statutory accounts of Wellcare Construction Ltd. for the year ended 31 December 2024
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of Wellcare Construction Ltd. for the year ended 31 December 2024 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given to us.
As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/membership/regulations-standards-and-guidance.
This report is made solely to the director of Wellcare Construction Ltd. , as a body, in accordance with the terms of our engagement letter dated 29 November 2024. Our work has been undertaken solely to prepare for your approval the accounts of Wellcare Construction Ltd. and state those matters that we have agreed to state to the director of Wellcare Construction Ltd. , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Wellcare Construction Ltd. and its director, as a body, for our work or for this report.
It is your duty to ensure that Wellcare Construction Ltd. has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Wellcare Construction Ltd. . You consider that Wellcare Construction Ltd. is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of Wellcare Construction Ltd. . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
ERC Accountants and Business Advisers Ltd
2 May 2025
ERC Accountants & Business Advisers Limited
Chartered Accountants
Hanover Buildings
11-13 Hanover Street
Liverpool
Merseyside
L1 3DN
Page 2
Page 3
Balance Sheet
Registered number: 04585095
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 126,259 53,518
126,259 53,518
CURRENT ASSETS
Debtors 5 392,142 489,757
Cash at bank and in hand 1,677,401 1,013,127
2,069,543 1,502,884
Creditors: Amounts Falling Due Within One Year 6 (1,579,094 ) (960,970 )
NET CURRENT ASSETS (LIABILITIES) 490,449 541,914
TOTAL ASSETS LESS CURRENT LIABILITIES 616,708 595,432
Creditors: Amounts Falling Due After More Than One Year 7 (6,437 ) (16,799 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (31,565 ) (13,380 )
NET ASSETS 578,706 565,253
CAPITAL AND RESERVES
Called up share capital 8 10 10
Profit and Loss Account 578,696 565,243
SHAREHOLDERS' FUNDS 578,706 565,253
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For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr T Meredith
Director
2 May 2025
The notes on pages 5 to 7 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Wellcare Construction Ltd. is a private company, limited by shares, incorporated in England & Wales, registered number 04585095 . The registered office is Hanover Buildings, 11-13 Hanover Street, Liverpool, Merseyside, L1 3DN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant and machinery 33% Straight line
Motor vehicles 20% Reducing balance
Fixtures and fittings 33% Reducing balance
2.4. Financial Instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
2.5. Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
2.6. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
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2.7. Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the
amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

3. Average Number of Employees
Average number of employees, including directors, during the year was: 12 (2023: 11)
12 11
4. Tangible Assets
Plant and machinery Motor vehicles Fixtures and fittings Total
£ £ £ £
Cost
As at 1 January 2024 5,796 131,801 8,755 146,352
Additions - 110,511 - 110,511
Disposals - (77,131 ) - (77,131 )
As at 31 December 2024 5,796 165,181 8,755 179,732
Depreciation
As at 1 January 2024 5,796 78,384 8,654 92,834
Provided during the period - 12,959 34 12,993
Disposals - (52,354 ) - (52,354 )
As at 31 December 2024 5,796 38,989 8,688 53,473
Net Book Value
As at 31 December 2024 - 126,192 67 126,259
As at 1 January 2024 - 53,417 101 53,518
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 168,710 285,479
Prepayments and accrued income 23,106 23,752
Other debtors 200,326 180,526
392,142 489,757
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6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 725,399 338,420
Bank loans and overdrafts 10,090 9,817
Corporation tax 43,023 30,921
Other taxes and social security 23,104 22,466
VAT 123,621 52,844
Accruals and deferred income 353,830 69,183
Director's loan account 300,027 437,319
1,579,094 960,970
The loan above was obtained under the government bounceback loan scheme and is therefore 100% secured by the government with no charge over the assets of the company.
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 6,437 16,799
The loan above was obtained under the government bounceback loan scheme and is therefore 100% secured by the government with no charge over the assets of the company.
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10 10
9. Directors Advances, Credits and Guarantees
No director received advances, credits or guarantees during the current or previous accounting periods.
10. Related Party Transactions
The following related party transactions were undertaken during the year:
During the period a director withdrew amounts totalling £141,791 (2023: £213,750) and introduced capital of £nil (2023: £nil). At the balance sheet date the amount payable to the director totalled £300,027 (2023: £437,319).
Dividends were paid to the directors and shareholders in respect of their shareholdings totalling £102,800 (2023: £68,000).
The aggregate remuneration paid to key management personnel for the year was £8,667 (2023: £6,000).
During the period a company under common control received invoices totalling £19,800 (2023: £10,555) and repaid amounts of £nil (2023: £14,400). At the balance sheet date the amounts owed from this company totalled £200,326 (2023: £180,526).
No further transactions with related parties were undertaken such as are required to be disclosed in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
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