IRIS Accounts Production v24.2.0.383 01348892 Board of Directors 1.1.23 31.12.23 31.12.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh013488922022-12-31013488922023-12-31013488922023-01-012023-12-31013488922021-12-31013488922022-01-012022-12-31013488922022-12-3101348892ns15:EnglandWales2023-01-012023-12-3101348892ns14:PoundSterling2023-01-012023-12-3101348892ns10:Director12023-01-012023-12-3101348892ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3101348892ns10:SmallEntities2023-01-012023-12-3101348892ns10:AuditExemptWithAccountantsReport2023-01-012023-12-3101348892ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3101348892ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3101348892ns10:FullAccounts2023-01-012023-12-3101348892ns10:Director22023-01-012023-12-3101348892ns10:RegisteredOffice2023-01-012023-12-3101348892ns5:CurrentFinancialInstruments2023-12-3101348892ns5:CurrentFinancialInstruments2022-12-3101348892ns5:Non-currentFinancialInstruments2023-12-3101348892ns5:Non-currentFinancialInstruments2022-12-3101348892ns5:ShareCapital2023-12-3101348892ns5:ShareCapital2022-12-3101348892ns5:RetainedEarningsAccumulatedLosses2023-12-3101348892ns5:RetainedEarningsAccumulatedLosses2022-12-3101348892ns5:OwnedOrFreeholdAssetsns5:LandBuildings2023-01-012023-12-3101348892ns5:PlantMachinery2023-01-012023-12-3101348892ns5:MotorVehicles2023-01-012023-12-3101348892ns5:ComputerEquipment2023-01-012023-12-3101348892ns5:LandBuildings2022-12-3101348892ns5:PlantMachinery2022-12-3101348892ns5:MotorVehicles2022-12-3101348892ns5:ComputerEquipment2022-12-3101348892ns5:LandBuildings2023-01-012023-12-3101348892ns5:LandBuildings2023-12-3101348892ns5:PlantMachinery2023-12-3101348892ns5:MotorVehicles2023-12-3101348892ns5:ComputerEquipment2023-12-3101348892ns5:LandBuildings2022-12-3101348892ns5:PlantMachinery2022-12-3101348892ns5:MotorVehicles2022-12-3101348892ns5:ComputerEquipment2022-12-3101348892ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3101348892ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3101348892ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-12-3101348892ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2022-12-3101348892ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-12-3101348892ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2022-12-3101348892ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-12-3101348892ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2022-12-31
REGISTERED NUMBER: 01348892 (England and Wales)














Wyeplants Limited

Unaudited Financial Statements

for the Year Ended 31 December 2023






Wyeplants Limited (Registered number: 01348892)

Contents of the Financial Statements
for the Year Ended 31 December 2023










Page

Company information 1

Chartered accountants' report 2

Statement of financial position 3

Notes to the financial statements 5


Wyeplants Limited

Company Information
for the Year Ended 31 December 2023







Directors: D P James
C D James





Registered office: Mallard Road
Low Fulney
Spalding
Lincolnshire
PE12 6ND





Registered number: 01348892 (England and Wales)





Accountants: Moore Thompson
Monica House
St Augustines Road
Wisbech
Cambridgeshire
PE13 3AD

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Wyeplants Limited


The following reproduces the text of the report prepared for the directors 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 Statement of financial position. Readers are cautioned that the Income statement and certain other primary statements and the Directors' report 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 Wyeplants Limited for the year ended 31 December 2023 which comprise the Statement of income and retained earnings, Statement of financial position 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Wyeplants Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Wyeplants Limited and state those matters that we have agreed to state to the Board of Directors of Wyeplants Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Wyeplants Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Wyeplants 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 of Wyeplants Limited. You consider that Wyeplants Limited 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 Wyeplants 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.






Moore Thompson
Monica House
St Augustines Road
Wisbech
Cambridgeshire
PE13 3AD


26 September 2024

Wyeplants Limited (Registered number: 01348892)

Statement of Financial Position
31 December 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 5 1,765,101 1,921,870

Current assets
Stocks 775,861 836,000
Debtors 6 242,543 838,092
Cash at bank 1,791,158 928,280
2,809,562 2,602,372
Creditors
Amounts falling due within one year 7 486,262 844,915
Net current assets 2,323,300 1,757,457
Total assets less current liabilities 4,088,401 3,679,327

Creditors
Amounts falling due after more than one
year

8

(790,564

)

(880,260

)

Provisions for liabilities (214,020 ) (189,518 )
Net assets 3,083,817 2,609,549

Capital and reserves
Called up share capital 200 200
Retained earnings 3,083,617 2,609,349
3,083,817 2,609,549

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

Wyeplants Limited (Registered number: 01348892)

Statement of Financial Position - continued
31 December 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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2024 and were signed on its behalf by:





D P James - Director


Wyeplants Limited (Registered number: 01348892)

Notes to the Financial Statements
for the Year Ended 31 December 2023


1. Statutory information

Wyeplants 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. Statement of compliance

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.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

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.
Land and buildings - 5% Reducing balance & 10% straight line
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Office equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Wyeplants Limited (Registered number: 01348892)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


3. Accounting policies - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

4. Employees and directors

The average number of employees during the year was 47 (2022 - 52 ) .

5. Tangible fixed assets
Land and Plant and Motor Office
buildings machinery vehicles equipment Totals
£    £    £    £    £   
Cost
At 1 January 2023 3,223,300 611,286 234,665 40,699 4,109,950
Additions 1,416 66,938 - 425 68,779
At 31 December 2023 3,224,716 678,224 234,665 41,124 4,178,729
Depreciation
At 1 January 2023 1,634,276 409,901 113,130 30,773 2,188,080
Charge for year 148,552 53,665 20,743 2,588 225,548
At 31 December 2023 1,782,828 463,566 133,873 33,361 2,413,628
Net book value
At 31 December 2023 1,441,888 214,658 100,792 7,763 1,765,101
At 31 December 2022 1,589,024 201,385 121,535 9,926 1,921,870

6. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 232,369 828,816
Other debtors 6,560 6,560
VAT 383 -
Prepayments 3,231 2,716
242,543 838,092

Wyeplants Limited (Registered number: 01348892)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


7. Creditors: amounts falling due within one year
2023 2022
£    £   
Bank loans and overdrafts 89,840 86,800
Hire purchase contracts 3,371 12,668
Trade creditors 103,568 621,145
Tax 233,059 90,760
Social security and other taxes 14,311 8,828
VAT - 7,527
Other creditors 937 2,243
Directors' loan accounts 32,376 149
Accruals and deferred income 8,800 14,795
486,262 844,915

8. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Bank loans - 1-2 years 93,109 89,956
Bank loans - 2-5 years 275,543 276,482
Bank loans more 5 yr by instal 395,230 484,021
Hire purchase contracts 26,682 29,801
790,564 880,260

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 395,230 484,021

9. Related party disclosures

During the year a director provided the company with a loan. The balance owing to the director at the year end was £32,376 (2022 - £149). No interest is being charged and there are no formal repayment terms.