Wellwood Communications Limited - Accounts to registrar (filleted) - small 18.2
Wellwood Communications Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31st March 2021 |
| for |
| Wellwood Communications Limited |
| Wellwood Communications Limited (Registered number: SC370621) |
| Contents of the Financial Statements |
| for the Year Ended 31st March 2021 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Chartered Certified Accountants' Report | 8 |
| Wellwood Communications Limited |
| Company Information |
| for the Year Ended 31st March 2021 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Second Floor |
| Park Lane House |
| 47 Broad Street |
| Glasgow |
| Lanarkshire |
| G40 2QW |
| Wellwood Communications Limited (Registered number: SC370621) |
| Balance Sheet |
| 31st March 2021 |
| 2020 | 2021 |
| as restated |
| £ | Notes | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Prepayments and accrued income |
| Cash at bank |
| CREDITORS |
| ( |
) | Amounts falling due within one year | 7 | ( |
) |
| ( |
) | NET CURRENT ASSETS/(LIABILITIES) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| ( |
) | Amounts falling due after more than one year |
8 |
( |
) |
| ( |
) | NET ASSETS/(LIABILITIES) |
| CAPITAL AND RESERVES |
| Called up share capital |
| (42,648 | ) | Retained earnings |
| ( |
) |
| 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. |
| Wellwood Communications Limited (Registered number: SC370621) |
| Balance Sheet - continued |
| 31st March 2021 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the director and authorised for issue on |
| Wellwood Communications Limited (Registered number: SC370621) |
| Notes to the Financial Statements |
| for the Year Ended 31st March 2021 |
| 1. | STATUTORY INFORMATION |
| Wellwood Communications Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| I confirm that in accordance with the Financial Reporting Council’s recommendations that I have carried out a rigorous assessment of the company and have reached a view after that assessment that the company is entitled to be considered a going concern and that these accounts properly reflect that status as a basis for preparation of the accounts. |
| In completing my assessment, I have considered a period of time which is greater than 1 year from today's date. |
| Based upon my assessment, I consider that the disclosure in the accounts is balanced, proportionate and clear and reflects the facts as established during my assessment of the next twelve months. |
| Turnover |
| Turnover is the amount derived from the ordinary activities of the company, after trade discounts and excluding value added tax. |
| 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 |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| 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. |
| Wellwood Communications Limited (Registered number: SC370621) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31st March 2021 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Other |
| intangible |
| assets |
| £ |
| COST |
| Additions |
| At 31st March 2021 |
| AMORTISATION |
| Charge for year |
| At 31st March 2021 |
| NET BOOK VALUE |
| At 31st March 2021 |
| Wellwood Communications Limited (Registered number: SC370621) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31st March 2021 |
| 5. | TANGIBLE FIXED ASSETS |
| Plant and |
| Land and | machinery |
| Totals | buildings | etc |
| £ | £ | £ |
| COST |
| At 1st April 2020 |
| Additions |
| At 31st March 2021 |
| DEPRECIATION |
| At 1st April 2020 |
| Charge for year |
| At 31st March 2021 |
| NET BOOK VALUE |
| At 31st March 2021 |
| At 31st March 2020 |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1st April 2020 |
| DEPRECIATION |
| Charge for year |
| At 31st March 2021 |
| NET BOOK VALUE |
| At 31st March 2021 | ( |
) |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| as restated |
| £ | £ |
| Trade debtors |
| Other debtors |
| Wellwood Communications Limited (Registered number: SC370621) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31st March 2021 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| as restated |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2021 | 2020 |
| as restated |
| £ | £ |
| Bank loans |
| Hire purchase contracts |
| Other creditors |
| Amounts falling due in more than five years: |
| Repayable otherwise than by instalments |
| GAFIL Loan | 52,300 | 52,300 |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 1,769 | - |
| 9. | RELATED PARTY DISCLOSURES |
| On the 1st June 2020, the director of Great Arthur Family Investments Limited(GAFIL), Andrew Westwood, who is the sole shareholder of GAFIL and who is a 50% shareholder in Wellwood Communications Limited, confirmed to Wellwood Communications Limited, that no additional interest charges would be made on the loan, and that there is no repayment date fixed for the loan. The original loan documentation confirmed a repayment date of 24th February 2021, and interest charge of £5000. No provision has been made in these accounts for the interest amount. |
| Chartered Certified Accountants' Report to the Director |
| on the Unaudited Financial Statements of |
| Wellwood Communications Limited |
| The following reproduces the text of the report prepared for the director 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 Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Wellwood Communications Limited for the year ended 31st March 2021 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
| As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook. |
| This report is made solely to the director of Wellwood Communications Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Wellwood Communications Limited and state those matters that we have agreed to state to the director of Wellwood Communications Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report. |
| It is your duty to ensure that Wellwood Communications Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Wellwood Communications Limited. You consider that Wellwood Communications Limited 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 financial statements of Wellwood Communications Limited. 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 financial statements. |
| Second Floor |
| Park Lane House |
| 47 Broad Street |
| Glasgow |
| Lanarkshire |
| G40 2QW |
| Date: ............................................. |