ACCOUNTS - Final Accounts preparation

ACCOUNTS - Final Accounts preparation

WELLINGHAM PARTNERS LIMITED - Company Information

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Caseware UK (AP4) 2016.0.181 2016.0.181 The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetrueNo description of principal activityfalse2017-05-01 10149476 2017-05-01 2018-04-30 10149476 2016-04-27 2017-04-30 10149476 2018-04-30 10149476 2017-04-30 10149476 c:Director1 2017-05-01 2018-04-30 10149476 c:Director2 2017-05-01 2018-04-30 10149476 c:RegisteredOffice 2017-05-01 2018-04-30 10149476 d:OfficeEquipment 2017-05-01 2018-04-30 10149476 d:OfficeEquipment 2018-04-30 10149476 d:OfficeEquipment 2017-04-30 10149476 d:OfficeEquipment d:OwnedOrFreeholdAssets 2017-05-01 2018-04-30 10149476 d:CurrentFinancialInstruments 2018-04-30 10149476 d:CurrentFinancialInstruments 2017-04-30 10149476 d:CurrentFinancialInstruments d:WithinOneYear 2018-04-30 10149476 d:CurrentFinancialInstruments d:WithinOneYear 2017-04-30 10149476 d:ShareCapital 2018-04-30 10149476 d:ShareCapital 2017-04-30 10149476 d:RetainedEarningsAccumulatedLosses 2018-04-30 10149476 d:RetainedEarningsAccumulatedLosses 2017-04-30 10149476 c:FRS102 2017-05-01 2018-04-30 10149476 c:AuditExemptWithAccountantsReport 2017-05-01 2018-04-30 10149476 c:FullAccounts 2017-05-01 2018-04-30 10149476 c:PrivateLimitedCompanyLtd 2017-05-01 2018-04-30 iso4217:GBP xbrli:pure

Registered number: 10149476










Wellingham Partners Limited








Unaudited

Financial statements

Information for filing with the registrar

For the year ended 30 April 2018
 
Wellingham Partners Limited
 

Company Information


Directors
Tim Bishop 
Ian Christopher Louden 




Registered number
10149476



Registered office
37 St Margaret's Street

Canterbury

Kent

CT1 2TU




Accountants
Kreston Reeves LLP
Chartered Accountants

37 St Margaret's Street

Canterbury

Kent

CT1 2TU




 
Wellingham Partners Limited
 

Contents



Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 6

 
Wellingham Partners Limited
 
  
Chartered accountants' report to the board of directors on the preparation of the unaudited statutory financial statements of Wellingham Partners Limited for the year ended 30 April 2018

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Wellingham Partners Limited for the year ended 30 April 2018 which comprise  the 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 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/en/ members/regulations-standards-and-guidance/.

This report is made solely to the Board of directors of Wellingham Partners Limited, as a body, in accordance with the terms of our engagement letter dated 6 May 2016. Our work has been undertaken solely to prepare for your approval the financial statements of Wellingham Partners Limited and state those matters that we have agreed to state to the Board of directors of Wellingham Partners Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Wellingham Partners Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Wellingham Partners 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 or loss of Wellingham Partners Limited. You consider that Wellingham Partners Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Wellingham Partners 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.

  



Kreston Reeves LLP
 
Chartered Accountants
  
37 St Margaret's Street
Canterbury
Kent
CT1 2TU
7 December 2018
Page 1
 
Wellingham Partners Limited
Registered number: 10149476

Balance sheet
As at 30 April 2018

2018
2017
Note
£
£

Fixed assets
  

Tangible assets
 4 
908
890

  
908
890

Current assets
  

Debtors: amounts falling due within one year
 5 
4,832
9,600

Cash at bank and in hand
 6 
21,472
991

  
26,304
10,591

Creditors: amounts falling due within one year
 7 
(11,251)
(6,582)

Net current assets
  
 
 
15,053
 
 
4,009

Total assets less current liabilities
  
15,961
4,899

  

Net assets
  
15,961
4,899


Capital and reserves
  

Called up share capital 
 8 
100
100

Profit and loss account
  
15,861
4,799

  
15,961
4,899


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 3 December 2018.




Tim Bishop
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2
 
Wellingham Partners Limited
 

 
Notes to the financial statements
For the year ended 30 April 2018

1.


General information

Wellingham Partners Limited is a private limited company incorporated in England and Wales with the registration number 10149476. 
The principal activity of the company is local government consultancy and social work.
The financial statements are presented in pounds Sterling, and are rounded to the nearest pound.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
∙the amount of revenue can be measured reliably;
∙it is probable that the Company will receive the consideration due under the contract;
∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and
∙the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Taxation

Tax is recognised in the Statement of income and retained earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Page 3
 
Wellingham Partners Limited
 

 
Notes to the financial statements
For the year ended 30 April 2018

2.Accounting policies (continued)

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

The estimated useful lives range as follows:

Office equipment
-
3
years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of income and retained earnings.

 
2.5

Debtors

Short term debtors are measured at transaction price, less any impairment. 

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.7

Creditors

Short term creditors are measured at the transaction price. 

 
2.8

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2017 - 2).

Page 4
 
Wellingham Partners Limited
 

 
Notes to the financial statements
For the year ended 30 April 2018

4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 May 2017
1,327


Additions
678



At 30 April 2018

2,005



Depreciation


At 1 May 2017
437


Charge for the year on owned assets
660



At 30 April 2018

1,097



Net book value



At 30 April 2018
908



At 30 April 2017
890

Page 5
 
Wellingham Partners Limited
 

 
Notes to the financial statements
For the year ended 30 April 2018

5.


Debtors

2018
2017
£
£


Trade debtors
4,832
9,600



6.


Cash and cash equivalents

2018
2017
£
£

Cash at bank and in hand
21,472
991



7.


Creditors: Amounts falling due within one year

2018
2017
£
£

Corporation tax
7,282
2,464

Other taxation and social security
1,529
1,114

Other creditors
940
1,324

Accruals and deferred income
1,500
1,680

11,251
6,582



8.


Share capital

2018
2017
£
£
Allotted, called up and fully paid



100 (2017 - 100) Ordinary shares of £1.00 each
100
100



9.


Controlling party

The company is controlled by Mr T Bishop by virtue of his majority shareholding. 


Page 6