WELMC Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05352211 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2019

FOR

WELMC LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTOR:

K J Bousfield

SECRETARY:

K J Bousfield

REGISTERED OFFICE:

Ashcourt Group

Foster Street

Hull

East Yorkshire

HU8 8BT

REGISTERED NUMBER:

05352211 (England and Wales)

FIXED ASSETS

Property, plant and equipment

3

250,000

250,000

CREDITORS

Amounts falling due within one year

4

5,911

5,911

NET CURRENT LIABILITIES

(5,911

)

(5,911

)

TOTAL ASSETS LESS CURRENT LIABILITIES

244,089

244,089

CAPITAL AND RESERVES

Called up share capital

5

440,789

440,789

Retained earnings

(196,700

)

(196,700

)

SHAREHOLDERS' FUNDS

244,089

244,089

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 31 January 2020 and were signed by:

K J Bousfield - Director

1.	STATUTORY INFORMATION

WELMC 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.

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.

The company was dormant throughout the current year and the previous year.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with wholly owned subsidiaries within the group.

Tangible fixed assets

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

Land and buildings

-

Nil

The freehold property will be subject to depreciation on completion of the development.

3.	PROPERTY, PLANT AND EQUIPMENT

Land and

buildings

£

COST

At 1 August 2018

and 31 July 2019

250,000

NET BOOK VALUE

At 31 July 2019

250,000

At 31 July 2018

250,000

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.19

31.7.18

£

£

Other creditors

5,911

5,911

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.19

31.7.18

value:

£

£

440,789

Ordinary

£1

440,789

440,789

6.	GROUP BANKING FACILITIES

On 3 July 2019 the company's parent group repaid all existing bank loans and overdrafts by refinancing with

Toscafund Group Limited. Under the terms of these arrangements, each group company is jointly and severally

liable for all group debts owed to Toscafund Group Limited, who have registered charges over the company's

assets to secure their position.

Details of the facilities are disclosed in the group consolidated accounts of the ultimate parent company,

Ashcourt Group Limited. The group has remained within the agreed facilities as of the date of approval of these

financial statements.

7.	RELATED PARTY DISCLOSURES

The company's ultimate parent company is Ashcourt Group Limited, a company incorporated in the United

Kingdom. Group consolidated financial statements are available from the group and company's registered office,

Foster Street, Hull, HU8 8BT.

8.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is K J Bousfield.