1.
General Information
Well Able Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
11625794
. The registered office is Lindum House, Beels Road, Stallingborough, Grimsby, NE Lincolnshire, DN41 8DN.
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 "The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act 2006.
The presentational and functional currency of these financial statements is sterling. Values are rounded to the nearest pound.
2.2.
Basis Of Consolidation
The group consolidated financial statements include the financial statements of the company and all of its subsidiary undertakings together with the group’s share of the results of associates made up to 31 December 2025.
A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities. Where the group owns less than 50% of the voting powers of an entity but controls the entity by virtue of an agreement with other investors which give it control of the financial and operating policies of the entity, it accounts for that entity as a subsidiary.
Where a subsidiary has different accounting policies to the group, adjustments are made to those subsidiary financial statements to apply the group’s accounting policies when preparing the consolidated financial statements.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the group holds a long-term interest and where the group has significant influence. The group considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate. The results of associates are accounted for using the equity method of accounting.
Any subsidiary undertakings or associates sold or acquired during the year are included up to, or from, the dates of change of control or change of significant influence respectively.
Where control of a subsidiary is lost, the gain or loss is recognised in the consolidated income statement. The cumulative amounts of any exchange differences on translation, recognised in equity, are not included in the gain or loss on disposal and are transferred to retained earnings. The gain or loss also includes amounts included in other comprehensive income that are required to be reclassified to profit or loss but excludes those amounts that are not required to be reclassified.
Where control of a subsidiary is achieved in stages, the initial acquisition that gave the group control is accounted for as a business combination. Thereafter where the group increases its controlling interest in the subsidiary the transaction is treated as a transaction between equity holders. Any difference between the fair value of the consideration paid and the carrying amount of the non-controlling interest acquired is recognised directly in equity. No changes are made to the carrying value of assets, liabilities or provisions for contingent liabilities.
2.3.
Business Combinations
Business combinations are accounted for by applying the purchase method.
The cost of a business combination is the fair value of the consideration given, liabilities incurred or assumed and of equity instruments issued plus the costs directly attributable to the business combination. Where control is achieved in stages the cost is the consideration at the date of each transaction.
Contingent consideration is initially recognised at estimated amount where the consideration is probable and can be measured reliably. Where (i) the contingent consideration is not considered probable or cannot be reliably measured but subsequently becomes probable and measurable or (ii) contingent consideration previously measured is adjusted, the amounts are recognised as an adjustment to the cost of the business combination.
On acquisition of a business, fair values are attributed to the identifiable assets, liabilities and contingent liabilities unless the fair value cannot be measured reliably, in which case the value is incorporated in goodwill. Intangible assets are only recognised separately from goodwill where they are separable and arise from contractual or other legal rights. Where the fair value of contingent liabilities cannot be reliably measured they are disclosed on the same basis as other contingent liabilities.
Well Able Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
2.4.
Significant judgements and estimations
In the application of the Company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying amounts 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
Management is of the opinion that any instances of application of judgement are not expected to have a significant effect on the amounts recognised in the financial statements apart from those involving estimation (below).
- Tangible Fixed Assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors, technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the assets and the projected disposal values.
- Bad debt provision is provided on a customer by customer basis depending on the likelihood of the recoverability of the debt.
Key Sources of estimation uncertainty
Management is of the opinion that there are no key sources of estimation uncertainty at the end of the reporting period that have a significant risk of causing a material adjustments to the carrying amounts of assets and liabilities as well as the disclosure of contingent assets and liablities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.
2.5.
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.
2.6.
Intangible Fixed Assets and Amortisation - Goodwill
Goodwill represents the excess of the cost of a business combination over the fair value of the group’s share of the identifiable net assets, liabilities and contingent liabilities acquired.
Goodwill arising on the acquisition of subsidiaries is included in Intangible Assets. Goodwill arising on the acquisition of associates and joint ventures is included in the related equity accounted investment value.
Goodwill is amortised over its expected useful life which is estimated to be 10 years.
Goodwill is assessed for impairment when there are indicators of impairment and any impairment is charged to the profit and loss account. No reversals of impairment are recognised.
2.7.
Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are made of computer software. It is amortised to the profit and loss account over its estimated economic life of 3 years.
Well Able Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
2.8.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost or valuation, 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:
| Improvements to Property |
|
| Leasehold |
|
| Plant & Machinery |
|
| Motor Vehicles |
|
| Fixtures & Fittings |
|
| Computer Equipment |
|
2.9.
Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the group. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
2.10.
Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
Cost is determined using the first-in, first-out method. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Work in progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
At the end of each reporting period stocks are assessed for impairment. If an item of stock is impaired, the identified stock is reduced to its selling price less costs to complete and sell and an impairment charge is recognised in the profit and loss account. Where a reversal of the impairment is required the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the profit and loss account.
2.11.
Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
2.12.
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.
Well Able Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
2.13.
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 group'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.
2.14.
Pensions
The group operates a defined pension contribution scheme. Contributions are charged to the profit and loss account in the period to which they relate.
2.15.
Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3.
Turnover
Analysis of turnover by class of business is as follows:
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
|
|
|
|
|
|
|
|
|
|
| 14,068,336 | 12,413,666 | ||
Analysis of turnover by geographical market is as follows:
Well Able Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| United Kingdom |
|
|
|
| Europe |
|
|
|
| North America |
|
|
|
| Rest of the world |
|
|
|
| 14,068,336 | 12,413,666 | ||
4.
Other Operating Income
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Grant income |
|
|
|
| Other operating income |
|
|
|
| 6,464 | 6,715 | ||
5.
Operating Profit
The operating profit is stated after charging:
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Bad debts | 4,377 | 6,268 | |
| Exchange differences |
( |
( |
|
| Depreciation of tangible fixed assets |
|
|
|
| Amortisation of intangible fixed assets |
( |
( |
|
6.
Auditor's Remuneration
Remuneration received by the group's auditors and their associates during the year was as follows:
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Audit Services | |||
| Audit of the company's financial statements |
|
|
|
7.
Staff Costs
Staff costs, including directors' remuneration, were as follows:
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Wages and salaries |
|
|
|
| Social security costs |
|
|
|
| Other pension costs |
|
|
|
|
|
|
||
Well Able Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
8.
Average Number of Employees
Group
Average number of employees, including directors, during the year was as follows:
| 2025 | 2024 | ||
|---|---|---|---|
| Office and administration |
|
|
|
| Sales, marketing and distribution |
|
|
|
| Manufacturing |
|
|
|
|
|
|
||
Company
Average number of employees, including directors, during the year was: 3 (2024: 3)
9.
Directors' remuneration
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Emoluments |
|
|
|
| Company contributions to money purchase pension schemes |
|
|
|
|
|
|
||
The number of directors to whom retirement benefits were accruing was as follows:
| 2025 | 2024 | ||
|---|---|---|---|
| Money purchase pension schemes |
|
|
|
10.
Interest Receivable and Similar Income
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Bank interest receivable |
|
|
|
| Loan interest receivable | 23,448 | 11,459 | |
| 31,714 | 35,978 | ||
11.
Interest Payable and Similar Charges
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Interest payable on other loans |
|
|
|
| Finance charges payable under finance leases and hire purchase contracts | 25,189 | 24,512 | |
| Foreign exchange charges |
|
|
|
| Late payment tax charges |
|
|
|
| 60,515 | 35,868 | ||
Well Able Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
12.
Tax on Profit
The tax charge on the profit for the year was as follows:
| Tax Rate | 2025 | 2024 | |||
|---|---|---|---|---|---|
| 2025 | 2024 | £ | £ | ||
| Current tax | |||||
| UK Corporation Tax | 25.0% | 25.0% |
|
|
|
| Deferred Tax | |||||
| Deferred taxation |
( |
|
|||
| Total tax charge for the period |
|
|
|||
The actual charge for the year can be reconciled to the expected charge for the year based on the profit and the standard rate of corporation tax as follows:
| 2025 | 2024 | ||||
|---|---|---|---|---|---|
| £ | £ | ||||
| Profit before tax | 1,404,968 | 1,531,608 | |||
| Tax on profit at 25% (UK standard rate) |
|
|
|||
| Goodwill/depreciation not allowed for tax |
|
|
|||
| Expenses not deductible for tax purposes |
( |
|
|||
| Tax losses utilised |
|
( |
|||
| Capital allowances |
( |
( |
|||
| Short term timing differences |
( |
|
|||
| Difference in tax rates |
|
|
|||
| Tax losses unutilised carried forward |
|
( |
|||
| Total tax charge for the period | 335,832 | 324,903 | |||
13.
Intangible Assets
Group
Company
| Goodwill | Other | Total | |
|---|---|---|---|
| £ | £ | £ | |
| Cost | |||
| As at 1 January 2025 |
( |
|
( |
| Additions |
|
|
|
| As at 31 December 2025 |
( |
|
( |
| Amortisation | |||
| As at 1 January 2025 |
( |
|
( |
| Provided during the period |
( |
|
( |
| As at 31 December 2025 |
( |
|
( |
| Net Book Value | |||
| As at 31 December 2025 |
( |
|
( |
| As at 1 January 2025 |
( |
|
( |
Well Able Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
The company had no intangible fixed assets as at 31 December 2025 or 31 December 2024.
14.
Tangible Assets
Group
Company
| Land & Property | ||||
|---|---|---|---|---|
| Improvements to Property | Leasehold | Plant & Machinery | Motor Vehicles | |
| £ | £ | £ | £ | |
| Cost | ||||
| As at 1 January 2025 |
|
|
|
|
| Additions |
|
|
|
|
| Disposals |
|
|
|
( |
| As at 31 December 2025 |
|
|
|
|
| Depreciation | ||||
| As at 1 January 2025 |
|
|
|
|
| Provided during the period |
|
|
|
|
| Disposals |
|
|
|
( |
| As at 31 December 2025 |
|
|
|
|
| Net Book Value | ||||
| As at 31 December 2025 |
|
|
|
|
| As at 1 January 2025 |
|
|
|
|
| Fixtures & Fittings | Computer Equipment | Total | |
|---|---|---|---|
| £ | £ | £ | |
| Cost | |||
| As at 1 January 2025 |
|
|
|
| Additions |
|
|
|
| Disposals |
|
|
( |
| As at 31 December 2025 |
|
|
|
| Depreciation | |||
| As at 1 January 2025 |
|
|
|
| Provided during the period |
|
|
|
| Disposals |
|
|
( |
| As at 31 December 2025 |
|
|
|
| Net Book Value | |||
| As at 31 December 2025 |
|
|
|
| As at 1 January 2025 |
|
|
|
Well Able Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Plant & Machinery |
|
|
|
Cost or valuation as at 31 December 2025 represented by:
| Land & Property | ||||
|---|---|---|---|---|
| Improvements to Property | Leasehold | Plant & Machinery | Motor Vehicles | |
| £ | £ | £ | £ | |
| At cost | 24,433 | 352,303 | 1,568,341 | 649,322 |
| At valuation | - | 273,920 | - | - |
| 24,433 | 626,223 | 1,568,341 | 649,322 | |
| Fixtures & Fittings | Computer Equipment | Total | |
|---|---|---|---|
| £ | £ | £ | |
| At cost | 30,881 | 19,406 | 2,644,686 |
| At valuation | - | - | 273,920 |
| 30,881 | 19,406 | 2,918,606 | |
If the following tangible fixed assets had been accounted for under historical cost accounting rules, the amounts would be:
| Land & Property | ||||
|---|---|---|---|---|
| Improvements to Property | Leasehold | Plant & Machinery | Motor Vehicles | |
| £ | £ | £ | £ | |
| Cost | 24,433 | 352,303 | 1,568,341 | 649,322 |
| Accumulated depreciation and impairment | 15,991 | 14,768 | 931,259 | 371,578 |
| Carrying amount |
|
|
|
|
| Fixtures & Fittings | Computer Equipment | Total | |
|---|---|---|---|
| £ | £ | £ | |
| Cost | 30,881 | 19,406 | 2,644,686 |
| Accumulated depreciation and impairment | 13,753 | 12,041 | 1,359,390 |
| Carrying amount |
|
|
|
Well Able Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
| Land & Property | ||||
|---|---|---|---|---|
| Improvements to Property | Leasehold | Plant & Machinery | Total | |
| £ | £ | £ | £ | |
| Cost or Valuation | ||||
| As at 1 January 2025 |
|
|
|
|
| Additions |
|
|
|
|
| As at 31 December 2025 |
|
|
|
|
| Depreciation | ||||
| As at 1 January 2025 |
|
|
|
|
| Provided during the period |
|
|
|
|
| As at 31 December 2025 |
|
|
|
|
| Net Book Value | ||||
| As at 31 December 2025 |
|
|
|
|
| As at 1 January 2025 |
|
|
|
|
Cost or valuation as at 31 December 2025 represented by:
| Land & Property | ||||
|---|---|---|---|---|
| Improvements to Property | Leasehold | Plant & Machinery | Total | |
| £ | £ | £ | £ | |
| At cost | 22,968 | 352,303 | 2,500 | 377,771 |
| At valuation | - | 273,920 | - | 273,920 |
| 22,968 | 626,223 | 2,500 | 651,691 | |
The leasehold property at Unit 3 was revlaued in the accounts year ended 31 December 2024. The revaluation was undertaken by Carter Jonas Estate Agents and Property Consultants.
If the following tangible fixed assets had been accounted for under historical cost accounting rules, the amounts would be:
| Land & Property | ||||
|---|---|---|---|---|
| Improvements to Property | Leasehold | Plant & Machinery | Total | |
| £ | £ | £ | £ | |
| Cost | 22,968 | 352,303 | 2,500 | 377,771 |
| Accumulated depreciation and impairment | 14,699 | 14,768 | 1,510 | 30,977 |
| Carrying amount |
|
|
|
|
Well Able Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
15.
Investments
Company
| Subsidiaries | |
|---|---|
| £ | |
| Cost | |
| As at 1 January 2025 |
|
| Additions |
|
| As at 31 December 2025 |
|
| Provision | |
| As at 1 January 2025 |
|
| As at 31 December 2025 |
|
| Net Book Value | |
| As at 31 December 2025 |
|
| As at 1 January 2025 |
|
Subsidiaries
Details of the group's subsidiaries as at 31 December 2025 are as follows:
| Name of undertaking | Registered Office | Class of shares held | Direct holding | Indirect holding |
|---|---|---|---|---|
|
|
Lindum House, Beels Road, Stallingborough, N E Lincolnshire, DN41 8DN |
|
|
- |
|
|
Lindum House, Beels Road, Stallingborough, N E Lincolnshire, DN41 8DN |
|
|
- |
The aggregate capital and reserves and the result for the year of the subsidiaries listed above was as follows:
| Capital and Reserves | Profit/(loss) | |
|---|---|---|
| £ | £ | |
| Lindum Packaging Ltd |
|
|
| Quickbox Manufacturing Limited |
|
|
16.
Stocks
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Materials |
|
|
|
| Finished goods |
|
|
|
| Work in progress |
|
|
|
|
|
|
||
Well Able Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
17.
Debtors
| Group | Company | ||||||
|---|---|---|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | ||||
| £ | £ | £ | £ | ||||
| Due within one year | |||||||
| Trade debtors |
|
|
|
|
|||
| Amounts owed by group undertakings | - | - | 213,681 | 316,502 | |||
| Other debtors | 351,240 | 763,743 | 91,189 | 513,467 | |||
|
|
|
|
|
||||
18.
Creditors: Amounts Falling Due Within One Year
| Group | Company | ||||||
|---|---|---|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | ||||
| £ | £ | £ | £ | ||||
| Net obligations under finance lease and hire purchase contracts |
|
|
|
|
|||
| Trade creditors |
|
|
|
|
|||
| Other loans |
|
|
|
|
|||
| Other creditors | 118,579 | 252,950 | 74,501 | 191,453 | |||
| Corporation tax |
|
|
|
|
|||
| Taxation and social security | 488,824 | 425,428 | 1,486 | 8,701 | |||
| Accruals and deferred income | 122,829 | 52,250 | 9,312 | 1,437 | |||
|
|
|
|
|
||||
19.
Creditors: Amounts Falling Due After More Than One Year
| Group | ||||
|---|---|---|---|---|
| 2025 | 2024 | |||
| £ | £ | |||
| Net obligations under finance lease and hire purchase contracts |
|
|
||
Of the creditors the following amounts are secured.
| Group | ||||
|---|---|---|---|---|
| 2025 | 2024 | |||
| £ | £ | |||
| Net obligations under finance lease and hire purchase contracts | 348,331 | 340,417 | ||
Net obligations under finance lease and hire purchase contracts are secured on the asset to which they relate.
20.
Loans
An analysis of the maturity of loans is given below:
| Group | Company | ||||||
|---|---|---|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | ||||
| £ | £ | £ | £ | ||||
| Amounts falling due within one year or on demand: | |||||||
| Other loans |
|
|
|
|
|||
Well Able Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
21.
Obligations Under Finance Leases and Hire Purchase
| Group | ||||
|---|---|---|---|---|
| 2025 | 2024 | |||
| £ | £ | |||
| The future minimum finance lease payments are as follows: | ||||
| Not later than one year |
|
|
||
| Later than one year and not later than five years |
|
|
||
|
|
|
|||
|
|
|
|||
22.
Deferred Taxation
The provision for deferred tax is made up as follows:
| Group | Company | ||||||
|---|---|---|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | ||||
| £ | £ | £ | £ | ||||
| Accelerated capital allowances |
|
|
|
|
|||
| Revaluation of property, plant and equipment |
|
|
|
|
|||
| Tax losses carried forward |
( |
( |
- | - | |||
|
|
|
|
|
||||
23.
Provisions for Liabilities
| Group | ||
|---|---|---|
| Deferred Tax | Total | |
| £ | £ | |
| As at 1 January 2025 |
|
279,340 |
| Additions |
|
40,551 |
| Utilised |
( |
(46,714) |
| Balance at 31 December 2025 |
|
273,177 |
| Company | ||
|---|---|---|
| Deferred Tax | Total | |
| £ | £ | |
| As at 1 January 2025 |
|
68,884 |
| Utilised |
( |
(156) |
| Balance at 31 December 2025 |
|
68,728 |
Well Able Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
25.
Capital Commitments
| Group | Company | ||||||
|---|---|---|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | ||||
| £ | £ | £ | £ | ||||
| At the end of the period |
|
|
|
|
|||
At the end of the period, the group and company had capital commitments contracted for but not provided in these financial statements
Well Able Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
26.
Other Commitments
The total of future minimum lease receipts under non-cancellable operating leases are as following:
| Group | Company | ||||||
|---|---|---|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | ||||
| £ | £ | £ | £ | ||||
| Not later than one year |
|
|
|
|
|||
| Later than one year and not later than five years |
|
|
|
|
|||
|
|
|
|
|
||||
The total of future minimum lease payments under non-cancellable operating leases are as following:
|
Group & Company
|
|||
|
2025
|
2024
|
||
|
£
|
£
|
||
|
Not later than one year
|
25,900
|
25,900
|
|
|
Later than one year and not later than five years
|
21,583
![image](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 2" preserveAspectRatio="none">
<line x1="0" y1="1" x2="80" y2="1" stroke="black" shape-rendering="crispEdges"/>
</svg>){kind=small}
|
47,483
|
|
|
47,483
![image](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 5" preserveAspectRatio="none">
<line x1="0" y1="1" x2="80" y2="1" stroke="black" shape-rendering="crispEdges"/>
<line x1="0" y1="4" x2="80" y2="4" stroke="black" shape-rendering="crispEdges"/>
</svg>){kind=small}
|
73,383
|
||
27.
Pension Commitments
The group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund.
During the year the charge to the profit and loss account in respect of defined contribution schemes was £33,727 (2024: £27,367).
At the balance sheet date contributions of £13,515 (2024: £7,945) were due to the fund and are included in creditors.
28.
Dividends
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| On equity shares: | |||
| Interim dividend paid |
|
|
|
29.
Related Party Disclosures
Key management personnel (including directors) received compensation of £187,850 (2024: £191,773)
|
2025
|
2024
|
||
|
£
|
£
|
||
|
Amounts owed to Directors
|
91,032
|
227,333
|
|
|
Loans to connected companies
|
58,239
|
502,292
|
Loans to connected companies are unsecured, repayable on demand and are charged interest at 5.5%.
Loans to directors are unsecured, repayable on demand and are charged interest at varying rates from 0% - 7%.