| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 28TH FEBRUARY 2025 |
| FOR |
| WELLSYKE LTD. |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 28TH FEBRUARY 2025 |
| FOR |
| WELLSYKE LTD. |
| WELLSYKE LTD. (REGISTERED NUMBER: 04283913) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 28TH FEBRUARY 2025 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| WELLSYKE LTD. |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 28TH FEBRUARY 2025 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Portland House |
| 11-13 Station Road |
| Kettering |
| Northamptonshire |
| NN15 7HH |
| WELLSYKE LTD. (REGISTERED NUMBER: 04283913) |
| BALANCE SHEET |
| 28TH FEBRUARY 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| Investment property | 6 |
| CURRENT ASSETS |
| Debtors | 7 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Capital redemption reserve |
| Fair value reserve |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| WELLSYKE LTD. (REGISTERED NUMBER: 04283913) |
| BALANCE SHEET - continued |
| 28TH FEBRUARY 2025 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| WELLSYKE LTD. (REGISTERED NUMBER: 04283913) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 28TH FEBRUARY 2025 |
| 1. | STATUTORY INFORMATION |
| Wellsyke Ltd. is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The directors have prepared the accounts on the going concern basis, notwithstanding the company has net current liabilities. Cashflow forecasts, incorporating reasonable levels of market sensitivity, demonstrate the company will continue to operate profitability for the foreseeable future and certainly no less than twelve months from signing these accounts. |
| Significant judgements and estimates |
| The directors have estimated the fair value of investment property with regard to local market trends and previous valuations. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Revenue Recognition |
| Rental income from operating leases is recognised on a straight-line basis over the lease term. |
| Tangible fixed assets |
| Land and buildings | - |
| Plant and machinery etc | - |
| Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. |
| Investment property |
| Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Income Statement |
| Financial instruments |
| The company is party to only basic financial instruments. Financial instruments that represent financing arrangements, such as bank loans, are measured at their amortised cost using the instrument's effective interest rate. |
| WELLSYKE LTD. (REGISTERED NUMBER: 04283913) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 28TH FEBRUARY 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| COST |
| At 29th February 2024 |
| Additions |
| At 28th February 2025 |
| DEPRECIATION |
| At 29th February 2024 |
| Charge for year |
| At 28th February 2025 |
| NET BOOK VALUE |
| At 28th February 2025 |
| At 28th February 2024 |
| 5. | FIXED ASSET INVESTMENTS |
| WELLSYKE LTD. (REGISTERED NUMBER: 04283913) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 28TH FEBRUARY 2025 |
| Loans to |
| other |
| participatin |
| interests |
| £ |
| At 29th February 2024 |
| and 28th February 2025 |
| 6. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 29th February 2024 |
| Additions |
| At 28th February 2025 |
| NET BOOK VALUE |
| At 28th February 2025 |
| At 28th February 2024 |
| Fair value at 28th February 2025 is represented by: |
| £ |
| Valuation in 2023 | 9,649,946 |
| Cost | 16,362,851 |
| 26,012,797 |
| Investment property has been revalued by the directors giving due consideration to market value and rental income. |
| Investment properties are pledged as security for the company's bank loans. |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade debtors |
| Other debtors |
| WELLSYKE LTD. (REGISTERED NUMBER: 04283913) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 28TH FEBRUARY 2025 |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Amounts owed to group undertakings |
| Taxation and social security |
| Other creditors |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Bank loans |
| Other creditors |
| 10. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2025 | 2024 |
| £ | £ |
| Bank loans |
| The loans are secured on the company's assets. |