Company registration number 12303005 (England and Wales)
WELL WAY HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
PAGES FOR FILING WITH REGISTRAR
WELL WAY HOLDINGS LIMITED
BALANCE SHEET
AS AT 31 OCTOBER 2024
31 October 2024
- 1 -
2024
2023
£
£
£
£
Fixed assets
484,072
52,239
Current assets
259,876
376,691
Creditors: amounts falling due within one year
(13,206)
(21,369)
Net current assets
246,670
355,322
Total assets less current liabilities
730,742
407,561
Creditors: amounts falling due after more than one year
(214,120)
Net assets
516,622
407,561
Capital and reserves
516,622
407,561
Notes to the financial statements
1
Financial commitments, guarantees and contingencies
A cross guarantee exists in favour of the bank whereby, on receipt of a demand in writing, the company will discharge any liabilities arising from bank loans and overdrafts in respect of itself or Well Way Rehab Solutions Limited. The director does not anticipate this giving rise to any settlement demands from the bank for amounts not included in the company's Balance Sheet.
Secured liabilities
The aggregate amount of secured liabilities is £225,561 and the loan is secured by way of a first fixed charge over the Investment Property of the company.
2
Employees
The average number of persons, including directors, employed by the company during the year was as follows:
2024
2023
Number
Number
Employees
3
Group accounts exemption
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
WELL WAY HOLDINGS LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2024
31 October 2024
- 2 -
4
True and fair override
The financial statements have been prepared to give a 'true and fair view' and have departed from the requirements of FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime' only to the extent required to provide this 'true and fair view'. This departure is the non-depreciation of the company's investment property, on the basis that the very long expected useful life and high residual value of that property negates the relevance of depreciation and to include such a charge would be to distort the 'true and fair view' presented.
Well Way Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is 3 Birch House, Bromsgrove, B60 4DJ.
For the year ended 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the micro-entity provisions and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime' and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved and signed by the director and authorised for issue on 22 April 2025
Mr K S Welborn
Director
Company registration number 12303005 (England and Wales)