Registration number: 10973381

Well Supply Chain Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 8

Well Supply Chain Limited

Company Information

Directors

Mrs Sevinc Burt Mr Martin Burt

Registered office

Grosvenor House 4-7 Station Road Sunbury on Thames Surrey TW16 6SB

Accountants

Richlands Business Advisers Limited Chartered Accountants42-46 Station Road Edgware Middlesex HA8 7AB

Well Supply Chain Limited

(Registration number: 10973381)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	5	89,467	148,526
Current assets
Debtors	6	196,907	258,331
Cash at bank and in hand		120,807	371,256
		317,714	629,587
Creditors: Amounts falling due within one year	7	(133,510)	(377,748)
Net current assets		184,204	251,839
Total assets less current liabilities		273,671	400,365
Provisions for liabilities		(9,018)	(9,018)
Net assets		264,653	391,347
Capital and reserves
Called up share capital	8	1	1
Retained earnings		264,652	391,346
Shareholders' funds		264,653	391,347

For the financial 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.

Directors' responsibilities:

•	The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 10 September 2025 and signed on its behalf by:
 

......................................... Mrs Sevinc Burt Director

......................................... Mr Martin Burt Director

Well Supply Chain Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1	General information

The Company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Grosvenor House
4-7 Station Road
Sunbury on Thames
Surrey
TW16 6SB
United Kingdom

These financial statements were authorised for issue by the Board on 10 September 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The Company's functional and presentation currency is the sterling (£).

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover represents the amount invoiced for the provision of logistics services for the e-commerce business. Revenue is recognised upon dispatch of goods from the warehouse. Turnover is shown net of sales/value added tax, returns and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Well Supply Chain Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Exchange differences are recognised in profit or loss in the period in which they arise.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates taxable income.

Tangible assets

Tangible fixed assets are measured at cost, less any accumulated depreciation and accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Furniture, fittings and equipment	Straight line basis - over 4 years
Short Leasehold	Straight line basis - over 10 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.

Well Supply Chain Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of obligation.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Well Supply Chain Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Financial instruments

Classification
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans from related parties.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other debtors and creditors, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method.

Debt instruments that are payable or receivable within one year, typically trade creditors or debtors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms of financed at a rate of interest that is not a market rate or in case of an out-right short term loan not at a market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss if recognised in the Profit and loss account.

For financial assets measured as amortised cost, the impairment loss is measured as the difference between an asset’s carrying amount and the present value of estimated cash flows discounted at the asset’s original effective interest rate. If a financial asset has a variable interest rate, the discounted rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured as cost less impairment, the impairment loss is measured as the difference between an asset’s carrying amount and best estimate, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
 

3	Staff numbers

The average number of persons employed by the Company (including directors) during the year, was 3 (2023 - 17).

Well Supply Chain Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4

Taxation

Tax charged/(credited) in the income statement

	2024 £	2023 £
Current taxation
UK corporation tax	(20,801)	41,076

Deferred tax

Deferred tax assets and liabilities

5	Tangible assets

	Leasehold improvements £	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 January 2024	70,849	248,651	319,500
At 31 December 2024	70,849	248,651	319,500
Depreciation
At 1 January 2024	22,390	148,584	170,974
Charge for the year	7,602	51,457	59,059
At 31 December 2024	29,992	200,041	230,033
Carrying amount
At 31 December 2024	40,857	48,610	89,467
At 31 December 2023	48,459	100,067	148,526

Well Supply Chain Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

6

Debtors

Current	Note	2024 £	2023 £
Trade debtors		71,328	88,522
Amounts owed by related parties	9	2,707	89,601
Prepayments		74,750	80,208
Other debtors		48,122	-
		196,907	258,331

7

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Trade creditors		51,071	53,093
Taxation and social security		-	33,266
Accrued expenses		82,439	225,732
Corporation tax payable		-	41,076
Deferred income		-	24,581
		133,510	377,748

8	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary shares of £1 each	1	1	1	1

9	Related party transactions

The company has taken advantage of the exemption available in FRS 102 Section 1A from disclosing related party transactions with other companies that are wholly owned within the group.

The company entered into various transactions on an arms length basis with related companies that are related through common control of the directors or part of the Group. At the balance sheet date, amounts owed by these undertakings was £2,706 (2023: £89,601) and the amounts owed to such undertakings was £Nil (2023: £0).

10	Parent and ultimate parent undertaking

The ultimate controlling party is Mr and Mrs Burt by the virtue of their shareholdings.