REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
FOR |
W.E.P. EXPRESS LIMITED |
REGISTERED NUMBER: |
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: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
Investments | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank and in hand |
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 |
Retained earnings | 8 |
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. |
W.E.P. EXPRESS LIMITED (REGISTERED NUMBER: 02290150) |
STATEMENT OF FINANCIAL POSITION - continued |
30 September 2023 |
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 |
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 |
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 |
Freehold property | - |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
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 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | and | Motor | Computer |
property | fittings | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 October 2022 |
Additions |
Disposals | ( |
) | ( |
) |
At 30 September 2023 |
DEPRECIATION |
At 1 October 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 30 September 2023 |
NET BOOK VALUE |
At 30 September 2023 |
At 30 September 2022 |
5. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST OR VALUATION |
At 1 October 2022 |
Additions |
Disposals | ( |
) |
Revaluations |
At 30 September 2023 |
NET BOOK VALUE |
At 30 September 2023 |
At 30 September 2022 |
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 |
Amounts falling due after more than one year: |
Other debtors |
Aggregate amounts |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Corporation tax |
Social security and other taxes |
Pension contributions |
Director's current account |
Accrued expenses |
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 |
Profit for the year |
Dividends | ( |
) |
At 30 September 2023 |