Company registration number 09783709 (England and Wales)
WEALDEN REHAB LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
WEALDEN REHAB LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
WEALDEN REHAB LTD
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
4
24,317
53,617
Tangible assets
5
473,122
534,776
497,439
588,393
Current assets
Stocks
749,743
981,793
Debtors
6
931,384
837,725
Cash at bank and in hand
330,944
413,126
2,012,071
2,232,644
Creditors: amounts falling due within one year
7
(1,738,458)
(1,813,954)
Net current assets
273,613
418,690
Total assets less current liabilities
771,052
1,007,083
Creditors: amounts falling due after more than one year
8
(315,142)
(332,860)
Provisions for liabilities
(30,643)
(23,565)
Net assets
425,267
650,658
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
425,167
650,558
Total equity
425,267
650,658
WEALDEN REHAB LTD
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2024
31 December 2024
- 2 -
For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 9 June 2025 and are signed on its behalf by:
Mr S G Campbell
Director
Company registration number 09783709 (England and Wales)
WEALDEN REHAB LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information
Wealden Rehab Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 113 Hopewell Drive, Chatham, Kent, ME5 7NP.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
1.3
Intangible fixed assets - goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of ten years.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
25% on cost
Fixtures and fittings
25% on cost
Motor vehicles
25% on reducing balance or 33% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
WEALDEN REHAB LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
1.7
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
1.8
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
WEALDEN REHAB LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
32
31
4
Intangible fixed assets
Goodwill
£
Cost
At 1 January 2024 and 31 December 2024
293,000
Amortisation and impairment
At 1 January 2024
239,383
Amortisation charged for the year
29,300
At 31 December 2024
268,683
Carrying amount
At 31 December 2024
24,317
At 31 December 2023
53,617
5
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 January 2024
36,037
110,862
664,343
811,242
Additions
3,320
10,759
203,444
217,523
Disposals
(47,620)
(47,620)
At 31 December 2024
39,357
121,621
820,167
981,145
Depreciation and impairment
At 1 January 2024
20,486
60,685
195,295
276,466
Depreciation charged in the year
7,526
18,070
224,639
250,235
Eliminated in respect of disposals
(18,678)
(18,678)
At 31 December 2024
28,012
78,755
401,256
508,023
Carrying amount
At 31 December 2024
11,345
42,866
418,911
473,122
At 31 December 2023
15,551
50,177
469,048
534,776
WEALDEN REHAB LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
836,955
762,751
Other debtors
89,039
74,974
925,994
837,725
2024
2023
Amounts falling due after more than one year:
£
£
Other debtors
5,390
Total debtors
931,384
837,725
7
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
659,252
902,983
Taxation and social security
380,446
294,118
Other creditors
698,760
616,853
1,738,458
1,813,954
8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
315,142
332,860
9
Ultimate Controlling Party
The controlling party is Wealden Rehab (Holdings) Ltd.
10
Related party transactions
Included within creditors due within one year is a loan from Wealden Rehab (Holdings) Ltd, of £10,166 (2023 - £13,967).