REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 November 2022 |
for |
WELL ADVANCED SOLUTIONS LTD |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 November 2022 |
for |
WELL ADVANCED SOLUTIONS LTD |
WELL ADVANCED SOLUTIONS LTD (REGISTERED NUMBER: SC436262) |
Contents of the Financial Statements |
for the Year Ended 30 November 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Chartered Certified Accountants' Report | 6 |
WELL ADVANCED SOLUTIONS LTD |
Company Information |
for the Year Ended 30 November 2022 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
4 Kingshill Park |
Venture Drive |
Arnhall Business Park |
Westhill |
Aberdeenshire |
AB32 6FL |
WELL ADVANCED SOLUTIONS LTD (REGISTERED NUMBER: SC436262) |
Balance Sheet |
30 November 2022 |
30.11.22 | 30.11.21 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Revaluation reserve | 9 |
Retained earnings | 9 |
SHAREHOLDERS' FUNDS |
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. |
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 |
WELL ADVANCED SOLUTIONS LTD (REGISTERED NUMBER: SC436262) |
Notes to the Financial Statements |
for the Year Ended 30 November 2022 |
1. | STATUTORY INFORMATION |
Well Advanced Solutions Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
The assets' residual values and useful lives are reviewed and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively. |
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. |
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. |
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. |
Investments |
Investments in shares are included at fair value. |
Foreign exchange |
Transactions denominated in foreign currencies are translated into sterling and recorded at the rate of exchange ruling at the date of the transaction. |
Balances at the year end denominated in a foreign currency are translated into sterling at the rate of exchange ruling at the balance sheet date. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
WELL ADVANCED SOLUTIONS LTD (REGISTERED NUMBER: SC436262) |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2022 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Motor | Computer |
fittings | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 December 2021 |
and 30 November 2022 |
DEPRECIATION |
At 1 December 2021 |
Charge for year |
At 30 November 2022 |
NET BOOK VALUE |
At 30 November 2022 |
At 30 November 2021 |
5. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST OR VALUATION |
At 1 December 2021 |
Additions |
Revaluations | ( |
) |
At 30 November 2022 |
NET BOOK VALUE |
At 30 November 2022 |
At 30 November 2021 |
Cost or valuation at 30 November 2022 is represented by: |
Other |
investments |
£ |
Valuation in 2016 | 5,816 |
Valuation in 2017 | 8,829 |
Valuation in 2018 | (2,809 | ) |
Valuation in 2019 | 12,424 |
Valuation in 2020 | 28,824 |
Valuation in 2021 | 60,101 |
Valuation in 2022 | (33,995 | ) |
Cost | 290,000 |
369,190 |
If fixed asset investments had not been revalued they would have been included at the following historical cost: |
30.11.22 | 30.11.21 |
£ | £ |
Cost | 290,000 | 266,000 |
Fixed asset investments were valued on an open market basis on 30 November 2022 by Enrich Tax Consultancy Ltd . |
WELL ADVANCED SOLUTIONS LTD (REGISTERED NUMBER: SC436262) |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2022 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.11.22 | 30.11.21 |
£ | £ |
Trade debtors |
VAT |
Prepayments |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.11.22 | 30.11.21 |
£ | £ |
Trade creditors |
Tax |
Social security and other taxes |
Other creditors |
Directors' current accounts | 229 | 208 |
Accrued expenses |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.11.22 | 30.11.21 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
9. | RESERVES |
Retained | Revaluation |
earnings | reserve | Totals |
£ | £ | £ |
At 1 December 2021 | 624,942 |
Profit for the year |
Dividends | ( |
) | ( |
) |
At 30 November 2022 | 705,996 |
10. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 30 November 2022 and 30 November 2021: |
30.11.22 | 30.11.21 |
£ | £ |
Balance outstanding at start of year | ( |
) | ( |
) |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
) | ( |
) |
This loan is interest free and repayable on demand. |
11. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is |
Chartered Certified Accountants' Report to the Director |
on the Unaudited Financial Statements of |
Well Advanced Solutions Ltd |
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 Well Advanced Solutions Ltd for the year ended 30 November 2022 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 Well Advanced Solutions Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Well Advanced Solutions Ltd and state those matters that we have agreed to state to the director of Well Advanced Solutions Ltd 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 Well Advanced Solutions Ltd 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 Well Advanced Solutions Ltd. You consider that Well Advanced Solutions 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 financial statements of Well Advanced Solutions 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 financial statements. |
4 Kingshill Park |
Venture Drive |
Arnhall Business Park |
Westhill |
Aberdeenshire |
AB32 6FL |