Wellers Retail Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10136313 (England and Wales)

Financial Statements for the Year Ended 30 April 2020

for

Wellers Retail Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

Report of the Accountants

7

DIRECTORS:

Mr Romit Patel

Mrs Purvi Patel

REGISTERED OFFICE:

Bridge House

9-13, Halbrook Lane

Coventry

United Kingdom

CV6 4AD

REGISTERED NUMBER:

10136313 (England and Wales)

ACCOUNTANTS:

Sterling Accounting Services Limited

Bridge House

9-13 Holbrook Lane

Coventry

CV6 4AD

FIXED ASSETS

Intangible assets

4

68,800

68,800

Property, plant and equipment

5

662

882

69,462

69,682

CURRENT ASSETS

Inventories

6

12,840

15,778

Debtors

7

2,087

644

Cash at bank and in hand

4,625

6,153

19,552

22,575

CREDITORS

Amounts falling due within one year

8

35,240

57,038

NET CURRENT LIABILITIES

(15,688

)

(34,463

)

TOTAL ASSETS LESS CURRENT LIABILITIES

53,774

35,219

CAPITAL AND RESERVES

Called up share capital

9

200

200

Retained earnings

10

53,574

35,019

SHAREHOLDERS' FUNDS

53,774

35,219

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2020 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 January 2021 and were signed on its behalf by:

Mr Romit Patel - Director

1.	STATUTORY INFORMATION

Wellers Retail 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.

Turnover

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

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.

Tangible fixed assets

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

Fixtures and fittings

-

25% on reducing balance

Stocks

Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 May 2019

and 30 April 2020

68,800

NET BOOK VALUE

At 30 April 2020

68,800

At 30 April 2019

68,800

5.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

and

fittings

£

COST

At 1 May 2019

and 30 April 2020

1,424

DEPRECIATION

At 1 May 2019

542

Charge for year

220

At 30 April 2020

762

NET BOOK VALUE

At 30 April 2020

662

At 30 April 2019

882

6.	INVENTORIES

30.4.20

30.4.19

£

£

Stocks

12,840

15,778

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.20

30.4.19

£

£

Other Debtors

1,911

-

Prepayments

176

644

2,087

644

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.20

30.4.19

£

£

Trade creditors

60

371

Corporation Tax

6,752

12,868

Social security and other taxes

281

68

Value Added Tax

751

693

Other Creditors

-

1,591

Directors' current accounts

27,245

41,197

Accrued expenses

151

250

35,240

57,038

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.20

30.4.19

value:

£

£

200

Ordinary

£1

200

200

10.

RESERVES

Retained

earnings

£

At 1 May 2019

35,019

Profit for the year

28,555

Dividends

(10,000

)

At 30 April 2020

53,574

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Statement of Financial Position you are responsible for the preparation of the financial statements for the year ended 30 April 2020 set out on pages nil to nil and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Sterling Accounting Services Limited

Bridge House

9-13 Holbrook Lane

Coventry

CV6 4AD

Date: .............................................