Wells Services (Norfolk) Limited - Accounts to registrar (filleted) - small 23.2.5
Wells Services (Norfolk) Limited - Accounts to registrar (filleted) - small 23.2.5
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022 |
| FOR |
| WELLS SERVICES (NORFOLK) LIMITED |
| WELLS SERVICES (NORFOLK) LIMITED (REGISTERED NUMBER: 05522515) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JULY 2022 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| WELLS SERVICES (NORFOLK) LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 JULY 2022 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants |
| Ingram House |
| Meridian Way |
| Norwich |
| Norfolk |
| NR7 0TA |
| WELLS SERVICES (NORFOLK) LIMITED (REGISTERED NUMBER: 05522515) |
| BALANCE SHEET |
| 31 JULY 2022 |
| 2022 | 2021 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 10 |
| 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. |
| WELLS SERVICES (NORFOLK) LIMITED (REGISTERED NUMBER: 05522515) |
| BALANCE SHEET - continued |
| 31 JULY 2022 |
| 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 Board of Directors and authorised for issue on |
| WELLS SERVICES (NORFOLK) LIMITED (REGISTERED NUMBER: 05522515) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JULY 2022 |
| 1. | STATUTORY INFORMATION |
| Wells Services (Norfolk) Limited is a |
| 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 has net current liabilities of £5,849 as at 31 July 2022. The company is reliant upon the support of the directors to provide adequate funding to continue trading for the next twelve months. This support has been provided and in the circumstances the directors consider it appropriate to prepare the financial statements on a going concern basis. |
| Turnover |
| Turnover represents the fair value of services provided during the year. Turnover is recognised as contract activity progresses and the right to consideration is earned. Fair value reflects the amount expected to be recoverable from clients. Turnover excludes value added tax. |
| Unbilled turnover on individual contracts is included as accrued income within other debtors. |
| 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. |
| Intangible assets - 10% on cost |
| Tangible fixed assets |
| Plant and machinery etc | - |
| 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 Statement of Income and Retained Earnings, 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. |
| WELLS SERVICES (NORFOLK) LIMITED (REGISTERED NUMBER: 05522515) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JULY 2022 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Other |
| intangible |
| assets |
| £ |
| COST |
| At 1 August 2021 |
| and 31 July 2022 |
| AMORTISATION |
| At 1 August 2021 |
| Charge for year |
| At 31 July 2022 |
| NET BOOK VALUE |
| At 31 July 2022 |
| At 31 July 2021 |
| 5. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 August 2021 |
| Additions |
| Disposals | ( |
) |
| At 31 July 2022 |
| DEPRECIATION |
| At 1 August 2021 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 July 2022 |
| NET BOOK VALUE |
| At 31 July 2022 |
| At 31 July 2021 |
| WELLS SERVICES (NORFOLK) LIMITED (REGISTERED NUMBER: 05522515) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JULY 2022 |
| 5. | TANGIBLE FIXED ASSETS - continued |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 August 2021 |
| Additions |
| Disposals | ( |
) |
| At 31 July 2022 |
| DEPRECIATION |
| At 1 August 2021 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 July 2022 |
| NET BOOK VALUE |
| At 31 July 2022 |
| At 31 July 2021 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| 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 |
| 2022 | 2021 |
| £ | £ |
| Bank loans |
| Hire purchase contracts |
| WELLS SERVICES (NORFOLK) LIMITED (REGISTERED NUMBER: 05522515) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JULY 2022 |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2022 | 2021 |
| £ | £ |
| Bank overdrafts |
| Hire purchase contracts | 55,227 | 61,420 |
| Amounts due under hire purchase contracts are secured on the assets concerned. |
| 10. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Class: | Nominal value: | 2022 | 2021 |
| £ | £ |
| Ordinary A | £1 | 20 | 20 |
| Ordinary B | £1 | 35 | 35 |
| Ordinary C | £1 | 10 | 10 |
| Ordinary D | £1 | 35 | 35 |
| 100 | 100 |
| 11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 31 July 2022 and 31 July 2021: |
| 2022 | 2021 |
| £ | £ |
| Balance outstanding at start of year | ( |
) |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |