Company Registration No. 11480616 (England and Wales)
Wellden Turnbull Limited
Unaudited accounts
for the period from 24 July 2018 to 30 June 2019
Wellden Turnbull Limited
Unaudited accounts
Contents
Wellden Turnbull Limited
Company Information
for the period from 24 July 2018 to 30 June 2019
Directors
Mrs E L Green
Mr R W John
Mr M Nelligan
Mr S Odam
Mr C Plumridge
Company Number
11480616 (England and Wales)
Registered Office
Munro House
Portsmouth Road
Cobham
Surrey
KT11 1PP
Wellden Turnbull Limited
Statement of financial position
as at
30 June 2019
Intangible assets
2,743,903
Cash at bank and in hand
1,006,603
Creditors: amounts falling due within one year
(1,764,213)
Net current assets
890,083
Total assets less current liabilities
3,639,429
Creditors: amounts falling due after more than one year
(2,827,304)
Called up share capital
250
Profit and loss account
811,875
Shareholders' funds
812,125
For the period ending 30 June 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 11 May 2020.
Mr M Nelligan
Director
Company Registration No. 11480616
Wellden Turnbull Limited
Notes to the Accounts
for the period from 24 July 2018 to 30 June 2019
Wellden Turnbull Limited is a private company, limited by shares, registered in England and Wales, registration number 11480616. The registered office is Munro House, Portsmouth Road, Cobham, Surrey, KT11 1PP. The principal place of business is The Long Barn, Down Farm, Cobham Park Road, Cobham, Surrey, KT11 3NE.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have been consistently applied within the same accounts.
The accounts 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 Companies Act 2006.
The company is a parent company and is exempt from the requirement to prepare group accounts by virtue of section 399 of the Companies Act 2006. These financial statements therefore present information about the company as an individual undertaking and not about its group.
The following principal accounting policies have been applied:
The accounts are presented in £ sterling, and rounded to the nearest £.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% straight line
Computer equipment
33% straight line
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Goodwill is recognised over its estimated useful life of 15 years.
Wellden Turnbull Limited
Notes to the Accounts
for the period from 24 July 2018 to 30 June 2019
Investments in subsidiaries are held at cost less impairment.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Intangible fixed assets
Goodwill
At 30 June 2019
2,922,500
Charge for the period
178,597
At 30 June 2019
2,743,903
5
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
Additions
1,920
4,807
6,727
At 30 June 2019
1,920
4,807
6,727
Charge for the period
400
888
1,288
At 30 June 2019
400
888
1,288
At 30 June 2019
1,520
3,919
5,439
6
Investments
Subsidiary undertakings
Valuation at 24 July 2018
-
Valuation at 30 June 2019
4
The company owns the share capital of two dormant companies, Wellco Secretaries Ltd and Wellco Trustees Limited.
Wellden Turnbull Limited
Notes to the Accounts
for the period from 24 July 2018 to 30 June 2019
Accrued income and prepayments
466,797
Amounts due after more than one year
2,222
8
Creditors: amounts falling due within one year
2019
Taxes and social security
542,611
The company's assets are secured by way of a fixed and floating charge in favour of NatWest relating to an overdraft facility, not utilised at the balance sheet date or at the date of signing.
9
Creditors: amounts falling due after more than one year
2019
Other creditors
2,827,304
Allotted, called up and fully paid:
50 A Ordinary shares of £1 each
50
50 B Ordinary shares of £1 each
50
50 C Ordinary shares of £1 each
50
50 D Ordinary shares of £1 each
50
50 E Ordinary shares of £1 each
50
Shares issued during the period:
50 A Ordinary shares of £1 each
50
50 B Ordinary shares of £1 each
50
50 C Ordinary shares of £1 each
50
50 D Ordinary shares of £1 each
50
50 E Ordinary shares of £1 each
50
Wellden Turnbull Limited
Notes to the Accounts
for the period from 24 July 2018 to 30 June 2019
11
Operating lease commitments
2019
At 30 June 2019 the company has commitments under non-cancellable operating leases as follows:
Operating leases expiring:
Within two to five years
19,861
12
Transactions with related parties
During the year, a director lent the company £1,426,500 and was repaid £68,197. Interest at 10% has been charged on the loan. The balance, shown within other creditors totals £1,358,304
13
Average number of employees
During the period the average number of employees was 49.