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Registered number: 09607564
Wellspring Development Capital Limited
Financial Statements
For The Year Ended 31 March 2025
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09607564
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 3,588 2,127
3,588 2,127
CURRENT ASSETS
Debtors 5 174,972 244,281
Cash at bank and in hand 254,031 127,432
429,003 371,713
Creditors: Amounts Falling Due Within One Year 6 (257,802 ) (136,418 )
NET CURRENT ASSETS (LIABILITIES) 171,201 235,295
TOTAL ASSETS LESS CURRENT LIABILITIES 174,789 237,422
NET ASSETS 174,789 237,422
CAPITAL AND RESERVES
Called up share capital 7 221 221
Profit and Loss Account 174,568 237,201
SHAREHOLDERS' FUNDS 174,789 237,422
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For the year ending 31 March 2025 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 J Moktar
Director
17 September 2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Wellspring Development Capital Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09607564 . The registered office is 32 High Street, Wendover, Bucks, HP22 6EA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
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.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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 fixed assets are measured at cost less accumulated depreciation and any 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 & Machinery over 4 years
Fixtures & Fittings 25% Reducing Balance
2.4. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2024: 5)
7 5
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 April 2024 11,227 92 11,319
Additions 2,905 200 3,105
Disposals (9,046 ) - (9,046 )
As at 31 March 2025 5,086 292 5,378
Depreciation
As at 1 April 2024 9,169 23 9,192
Provided during the period 946 52 998
Disposals (8,400 ) - (8,400 )
As at 31 March 2025 1,715 75 1,790
Net Book Value
As at 31 March 2025 3,371 217 3,588
As at 1 April 2024 2,058 69 2,127
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5. Debtors
2025 2024
£ £
Due within one year
Trade debtors 166,676 243,981
Other debtors 8,296 300
174,972 244,281
6. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 25,424 16,994
Other creditors 142,284 73,236
Taxation and social security 90,094 46,188
257,802 136,418
7. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 221 221
8. Ultimate Controlling Party
The company is owned 100% by Wellspring EOT Limited.  
9. Share-Based Payments
The company operates an equity-settled share option scheme for certain employees. The scheme provides employees with the option to acquire ordinary shares in the company at a fixed price, subject to continued employment.
During the year, 3,321 share options were granted on 12 April 2024 with an exercise price of £9.28 and will be vested over three years, subject to continued employment (2024 - 3,907 share options were granted on 16 February 2024 with an exercise price of £9.28 and will be vested over three years, subject to continued employment).
The fair value of the options at the grant date was estimated using an appropriate option pricing model. Charges were recognised in the profit and loss account for the year.
No options were exercised, forfeited, or lapsed during the current or previous year.
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