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REGISTERED NUMBER: 02290150 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

FOR

W.E.P. EXPRESS LIMITED

W.E.P. EXPRESS LIMITED (REGISTERED NUMBER: 02290150)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 September 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


W.E.P. EXPRESS LIMITED

COMPANY INFORMATION
for the Year Ended 30 September 2023







DIRECTORS: M F Riggs
Mrs A Riggs





SECRETARY: M F Riggs





REGISTERED OFFICE: The Bays
Manor Close
Great Billington
Leighton Buzzard
Bedfordshire
LU7 9HF





REGISTERED NUMBER: 02290150 (England and Wales)





ACCOUNTANTS: H & E Johnson
Chartered Accountants
Sandall House
230 High Street
Herne Bay
Kent
CT6 5AX

W.E.P. EXPRESS LIMITED (REGISTERED NUMBER: 02290150)

STATEMENT OF FINANCIAL POSITION
30 September 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 487,595 445,147
Investments 5 3,104,040 2,796,338
3,591,635 3,241,485

CURRENT ASSETS
Debtors 6 88,368 302,428
Cash at bank and in hand 212,595 272,177
300,963 574,605
CREDITORS
Amounts falling due within one year 7 7,703 15,482
NET CURRENT ASSETS 293,260 559,123
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,884,895

3,800,608

PROVISIONS FOR LIABILITIES - 13,352
NET ASSETS 3,884,895 3,787,256

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 8 3,883,895 3,786,256
SHAREHOLDERS' FUNDS 3,884,895 3,787,256

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

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.

W.E.P. EXPRESS LIMITED (REGISTERED NUMBER: 02290150)

STATEMENT OF FINANCIAL POSITION - continued
30 September 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 February 2024 and were signed on its behalf by:





M F Riggs - Director


W.E.P. EXPRESS LIMITED (REGISTERED NUMBER: 02290150)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 September 2023

1. STATUTORY INFORMATION

W.E.P. Express Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 as modified by the revaluation of certain assets.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Financial instruments
Fixed Asset Investments are initially measured at fair value plus any directly attributable transaction costs. Subsequent to initial recognition, they are measured at fair value and changes therein, other than impairment losses and foreign currency differences on debt instruments are recognised in OCI and accumulated in the fair value reserve. When these assets are derecognised, the gain or loss accumulated in equity is reclassified to profit or loss.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

W.E.P. EXPRESS LIMITED (REGISTERED NUMBER: 02290150)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 October 2022 374,872 2,624 164,963 1,426 543,885
Additions - 7,105 84,659 - 91,764
Disposals - - (65,975 ) - (65,975 )
At 30 September 2023 374,872 9,729 183,647 1,426 569,674
DEPRECIATION
At 1 October 2022 - 2,624 95,127 987 98,738
Charge for year - 1,777 35,688 109 37,574
Eliminated on disposal - - (54,233 ) - (54,233 )
At 30 September 2023 - 4,401 76,582 1,096 82,079
NET BOOK VALUE
At 30 September 2023 374,872 5,328 107,065 330 487,595
At 30 September 2022 374,872 - 69,836 439 445,147

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 October 2022 2,796,338
Additions 519,157
Disposals (285,338 )
Revaluations 73,883
At 30 September 2023 3,104,040
NET BOOK VALUE
At 30 September 2023 3,104,040
At 30 September 2022 2,796,338

W.E.P. EXPRESS LIMITED (REGISTERED NUMBER: 02290150)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 2023

5. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 30 September 2023 is represented by:

Other
investments
£   
Valuation in 2017 5,422
Valuation in 2018 18,157
Valuation in 2019 (31,345 )
Valuation in 2020 (59,283 )
Valuation in 2021 256,714
Valuation in 2022 (633,586 )
Valuation in 2023 73,883
Cost 3,474,078
3,104,040

If fixed asset investments had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 3,474,078 3,240,259

Fixed asset investments were valued on an open market basis on 30 September 2023 by the investment managers .

6. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 88,368 171,560

Amounts falling due after more than one year:
Other debtors - 130,868

Aggregate amounts 88,368 302,428

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Corporation tax 755 12,501
Social security and other taxes 3,909 406
Pension contributions 210 30
Director's current account 529 245
Accrued expenses 2,300 2,300
7,703 15,482

W.E.P. EXPRESS LIMITED (REGISTERED NUMBER: 02290150)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 2023

8. RESERVES
Retained
earnings
£   

At 1 October 2022 3,786,256
Profit for the year 180,639
Dividends (83,000 )
At 30 September 2023 3,883,895