Wells Estates Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 01732338 (England and Wales)

Wells Estates Limited

Unaudited Financial Statements for the Year Ended 28 February 2026

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

K W Masters

D G Masters

SECRETARY:

K W Masters

REGISTERED OFFICE:

One New Street

Wells

Somerset

BA5 2LA

REGISTERED NUMBER:

01732338 (England and Wales)

ACCOUNTANTS:

Webb & Co Ltd

Accountants and Business Advisers

One New Street

Wells

Somerset

BA5 2LA

FIXED ASSETS

Intangible assets

4

-

Tangible assets

5

7,041

7,946

Investment property

6

3,510,553

3,517,594

3,518,499

CURRENT ASSETS

Debtors

7

206,408

192,902

Cash at bank

717,619

810,177

924,027

1,003,079

CREDITORS

Amounts falling due within one year

8

122,182

149,340

NET CURRENT ASSETS

801,845

853,739

TOTAL ASSETS LESS CURRENT
LIABILITIES

4,319,439

4,372,238

PROVISIONS FOR LIABILITIES

174,098

174,325

NET ASSETS

4,145,341

4,197,913

CAPITAL AND RESERVES

Called up share capital

9

6,000

Fair value reserve

1,366,321

Retained earnings

2,773,020

2,825,592

SHAREHOLDERS' FUNDS

4,145,341

4,197,913

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2026 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 April 2026 and were signed on its behalf by:

D G Masters - Director

1.	STATUTORY INFORMATION

Wells Estates Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents rental income from properties and is recognised on a straight-line basis over the term of he lease. Rental income is measured at the fair value of the consideration received or receivable, excluding VAT. Incentives granted to tenants, such as rent-free periods, are recognised evenly over the term of the lease. Any service charges and other income related to leased assets are recognised when the related services are performed.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website costs are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

33.3% on cost and 10% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

25% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2025 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Website

costs

£

COST

At 1 March 2025

and 28 February 2026

3,745

AMORTISATION

At 1 March 2025

and 28 February 2026

3,745

NET BOOK VALUE

At 28 February 2026

-

At 28 February 2025

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

COST

At 1 March 2025

54,346

10,000

4,919

69,265

Additions

2,250

-

2,250

Disposals

(741

)

-

(741

)

At 28 February 2026

55,855

10,000

4,919

70,774

DEPRECIATION

At 1 March 2025

50,400

6,000

4,919

61,319

Charge for year

855

2,000

-

2,855

Eliminated on disposal

(441

)

-

(441

)

At 28 February 2026

50,814

8,000

4,919

63,733

NET BOOK VALUE

At 28 February 2026

5,041

2,000

-

7,041

At 28 February 2025

3,946

4,000

-

7,946

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 March 2025

and 28 February 2026

3,510,553

NET BOOK VALUE

At 28 February 2026

3,510,553

At 28 February 2025

3,510,553

If investment properties had not been revalued they would have been included at the following historical cost £1,971,894 (2025 £1,971,894).

Investment properties were valued on an open market basis on 28 February 2026 by the directors.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

Trade debtors

3,101

3,449

Other debtors

203,307

189,453

206,408

192,902

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

Trade creditors

699

2,141

Taxation and social security

47,089

24,371

Other creditors

74,394

122,828

122,182

149,340

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2026

2025

value:

£

2,977

Ordinary

£1

2,977

5,960

2,997

Ordinary A

£1

2,997

20

Ordinary B

£1

20

1

Ordinary C

£1

1

-

1

Ordinary D

£1

1

-

1

Ordinary E

£1

1

-

1

Ordinary F

£1

1

-

1

Ordinary G

£1

1

-

1

Ordinary H

£1

1

-

6,000

On 25 June 2025, the company reclassified 2,983 Ordinary shares into, 2,977 Ordinary A Shares, 1 Ordinary C share, 1 Ordinary D share, 1 Ordinary E share, 1 Ordinary F share, 1 Ordinary G share and 1 Ordinary H share.

The reclassification did not result in any change to the total issued share capital of the company.