J.L.Wellington Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—7

1. General Information

J.L.Wellington Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12544079 . The registered office is Wolfe Mead, Farnham Road, Bordon, GU35 0NH .

2. Accounting Policies

2.1. Early Adoption of Amendments to FRS 102 (Periodic Review 2024)

The company has early adopted the amendments to FRS 102, arising from the Financial Reporting Council's Periodic Review 2024, issued in March 2024, including the revised requirements in Section 20, Leases. These amendments are effective for accounting periods beginning on or after 1 January 2026, but the company has elected to apply them in these financial statements for the year ended 31 March 2026.

The amendments primarily introduce revised accounting for leases, under which leases are recognised on the balance sheet through the recognition of a right-of-use asset and corresponding lease liability.

2.2. 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.

2.3. Going Concern Disclosure

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.

In assessing whether the going concern assumption is appropriate, the directors have considered all available information about the future, which is at least, but is not limited to, 12 months from the date when the financial statements are authorised for issue.

2.4. 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.

Page 3

Page 4

J.L.Wellington Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

2.5. 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	20% - Straight line method
Motor Vehicles	20% - Straight line method
Computer Equipment	33% - Straight line method

2.6. Leases

The Company has elected to early adopt the amendments to FRS 102 arising from the Periodic Review 2024, including the revised requirements of Section 20 Leases, for the year ended 31 March 2026.

At the commencement of a lease, the Company recognises a right-of-use asset and a corresponding lease liability. The lease liability is initially measured at the present value of lease payments not paid at the commencement date, discounted using the applicable rate of interest.

The right-of-use asset is initially measured at cost, comprising the initial measurement of the lease liability and lease payments made at or before the commencement date. The right-of-use asset is subsequently depreciated on a straight-line basis over the lease term.

At 31 March 2026, the carrying amount of the right-of-use asset was £8,751 and the lease liability was £6,757, of which £4,707 was due within one year and £2,050 was due after more than one year.

Depreciation of £5,250 in respect of the right-of-use asset and interest of £255 in respect of the lease liability have been recognised in profit or loss for the year.

2.7. 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 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.

2.8. 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.

...CONTINUED

Page 4

Page 5

J.L.Wellington Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

2.8. Taxation - continued

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: 2 (2025: 2)

4. Tangible Assets

	Plant & Machinery	Motor Vehicles	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 April 2025	614	82,960	808	84,382
Additions	279	25,498	1,637	27,414
Disposals	-	(21,161 )	-	(21,161 )

As at 31 March 2026	893	87,297	2,445	90,635

Depreciation
As at 1 April 2025	41	37,345	446	37,832
Provided during the period	161	11,935	227	12,323
Disposals	-	(21,161 )	-	(21,161 )

As at 31 March 2026	202	28,119	673	28,994

Net Book Value
As at 31 March 2026	691	59,178	1,772	61,641

As at 1 April 2025	573	45,615	362	46,550

Page 5

Page 6

J.L.Wellington Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

5. Right-of-use Assets

	Motor Vehicles
	£
Cost
As at 1 April 2025	-
Additions	14,001

As at 31 March 2026	14,001

Depreciation
As at 1 April 2025	-
Provided during the period	5,250

As at 31 March 2026	5,250

Net Book Value
As at 31 March 2026	8,751

As at 1 April 2025	-

6. Stocks

	2026	2025
	£	£
Work in progress	27,107	-

7. Debtors

	2026	2025
	£	£
Due within one year
Trade debtors	2,690	-
Other debtors	8,723	14,436

	11,413	14,436

8. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Lease liabilities	4,707	-
Trade creditors	4,967	3,754
Other creditors	18,026	889
Taxation and social security	30,698	12,050

	58,398	16,693

Page 6

Page 7

J.L.Wellington Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

9. Creditors: Amounts Falling Due After More Than One Year

	2026	2025
	£	£
Lease liabilities	2,050	-

10. Lease Liabilities

	2026	2025
	£	£
Not later than one year	4,707	-
Later than one year and not later than five years	2,050	-

	6,757	-

11. Deferred Taxation

The provision for deferred tax is made up as follows:

	2026	2025
	£	£
Other timing differences	15,410	-

12. Share Capital

	2026	2025
	£	£
Allotted, Called up and fully paid	1	1

13. Dividends

	2026	2025
	£	£
On equity shares:
Interim dividend paid	40,650	9,200

Page 7

		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		61,641		46,550
Right-of-use Assets	5		8,751		-

			70,392		46,550
CURRENT ASSETS
Stocks	6	27,107		-
Debtors	7	11,413		14,436
Cash at bank and in hand		124,174		57,559

		162,694		71,995
Creditors: Amounts Falling Due Within One Year	8	(58,398 )		(16,693 )

NET CURRENT ASSETS (LIABILITIES)			104,296		55,302

TOTAL ASSETS LESS CURRENT LIABILITIES			174,688		101,852

Creditors: Amounts Falling Due After More Than One Year	9		(2,050 )		-

PROVISIONS FOR LIABILITIES
Deferred Taxation	11		(15,410 )		-

NET ASSETS			157,228		101,852

CAPITAL AND RESERVES
Called up share capital	12		1		1
Profit and Loss Account			157,227		101,851

SHAREHOLDERS' FUNDS			157,228		101,852