Get Well Friends Ltd - Period Ending 2022-05-31

Get Well Friends Ltd

Contents

Company Information	1
Accountants' Report	2
Abridged Balance Sheet	3 to 4
Notes to the Unaudited Abridged Financial Statements	5 to 7

Get Well Friends Ltd

Company Information

Directors

C Gray K Gray

Registered office

Unit 3 Upp Hall Farm Salmons Lane Colchester Essex CO6 1RY

Accountants

Integer Chartered Accountants Unit 3 Upp Hall Farm Salmons Lane Colchester Essex CO6 1RY

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Get Well Friends Ltd
for the Year Ended 31 May 2022

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Get Well Friends Ltd for the year ended 31 May 2022 as set out on pages 3 to 7 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Get Well Friends Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Get Well Friends Ltd and state those matters that we have agreed to state to the Board of Directors of Get Well Friends Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Get Well Friends Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Get Well Friends Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Get Well Friends Ltd. You consider that Get Well Friends Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Get Well Friends Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Integer
Chartered Accountants
Unit 3 Upp Hall Farm
Salmons Lane
Colchester
Essex
CO6 1RY

28 October 2022

Get Well Friends Ltd

(Registration number: 06344221)
Abridged Balance Sheet as at 31 May 2022

	Note	2022 £	2021 £
Fixed assets
Tangible assets	4	3	3
Current assets
Stocks	5	3,057	6,214
Debtors		140	620
Cash at bank and in hand		2,518	794
		5,715	7,628
Creditors: Amounts falling due within one year		(156,702)	(148,211)
Net current liabilities		(150,987)	(140,583)
Net liabilities		(150,984)	(140,580)
Capital and reserves
Called up share capital	6	100	100
Retained earnings		(151,084)	(140,680)
Shareholders' deficit		(150,984)	(140,580)

For the financial year ending 31 May 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 28 October 2022 and signed on its behalf by:
 

Get Well Friends Ltd

(Registration number: 06344221)
Abridged Balance Sheet as at 31 May 2022

......................................... C Gray Director

......................................... K Gray Director

Get Well Friends Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2022

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Unit 3 Upp Hall Farm
Salmons Lane
Colchester
Essex
CO6 1RY

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Motor Vehicles	25% straight line
Fixtures & fittings	15% straight line
Other tangibles	33% straight line

Get Well Friends Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2022

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2021 - 1).

4	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Properties under construction  £	Total £
Cost or valuation
At 1 June 2021	3,366	1,528	7,050	11,944
At 31 May 2022	3,366	1,528	7,050	11,944
Depreciation
At 1 June 2021	3,365	1,527	7,049	11,941
At 31 May 2022	3,365	1,527	7,049	11,941
Carrying amount
At 31 May 2022	1	1	1	3
At 31 May 2021	1	1	1	3

5

Stocks

	2022 £	2021 £
Other inventories	3,057	6,214

6	Share capital

Allotted, called up and fully paid shares

	2022		2021
	No.	£	No.	£
Ordinary of £1 each	100	100	100	100

7	Related party transactions

Get Well Friends Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2022

Directors' remuneration

The directors' remuneration for the year was as follows:

	2022 £	2021 £
Remuneration	8,762	8,919

In respect of the highest paid director:

	2022 £	2021 £
Remuneration	8,762	8,919

Summary of transactions with parent

Fizzbomb Ltd owns 100% of the company.
At 31st May the company owed £156,446 (2021: £147,867) to Fizzbomb Ltd

 The loan is interest free and has no fixed repayment terms
 

8	Parent and ultimate parent undertaking

The company's immediate parent is Fizzbomb Ltd, incorporated in England.