W.J.P. Engineering Plastics Limited 01102698 false 2023-05-01 2024-04-30 2024-04-30 The principal activity of the company is the manufacture of P.T.F.E., Filled P.T.F.E. and other plastic components Digita Accounts Production Advanced 6.30.9574.0 true 01102698 2023-05-01 2024-04-30 01102698 2024-04-30 01102698 core:RetainedEarningsAccumulatedLosses 2024-04-30 01102698 core:ShareCapital 2024-04-30 01102698 core:SharePremium 2024-04-30 01102698 core:CurrentFinancialInstruments 2024-04-30 01102698 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 01102698 core:Non-currentFinancialInstruments core:AfterOneYear 2024-04-30 01102698 core:ConstructionInProgressAssetsUnderConstruction 2024-04-30 01102698 core:FurnitureFittingsToolsEquipment 2024-04-30 01102698 core:LandBuildings 2024-04-30 01102698 core:OtherPropertyPlantEquipment 2024-04-30 01102698 bus:SmallEntities 2023-05-01 2024-04-30 01102698 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 01102698 bus:FilletedAccounts 2023-05-01 2024-04-30 01102698 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 01102698 bus:RegisteredOffice 2023-05-01 2024-04-30 01102698 bus:Director2 2023-05-01 2024-04-30 01102698 bus:Director4 2023-05-01 2024-04-30 01102698 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 01102698 bus:Agent1 2023-05-01 2024-04-30 01102698 core:ConstructionInProgressAssetsUnderConstruction 2023-05-01 2024-04-30 01102698 core:FurnitureFittings 2023-05-01 2024-04-30 01102698 core:FurnitureFittingsToolsEquipment 2023-05-01 2024-04-30 01102698 core:LandBuildings 2023-05-01 2024-04-30 01102698 core:OfficeEquipment 2023-05-01 2024-04-30 01102698 core:OtherPropertyPlantEquipment 2023-05-01 2024-04-30 01102698 core:PlantMachinery 2023-05-01 2024-04-30 01102698 countries:EnglandWales 2023-05-01 2024-04-30 01102698 2023-04-30 01102698 core:ConstructionInProgressAssetsUnderConstruction 2023-04-30 01102698 core:FurnitureFittingsToolsEquipment 2023-04-30 01102698 core:LandBuildings 2023-04-30 01102698 core:OtherPropertyPlantEquipment 2023-04-30 01102698 2022-05-01 2023-04-30 01102698 2023-04-30 01102698 core:RetainedEarningsAccumulatedLosses 2023-04-30 01102698 core:ShareCapital 2023-04-30 01102698 core:SharePremium 2023-04-30 01102698 core:CurrentFinancialInstruments 2023-04-30 01102698 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 01102698 core:Non-currentFinancialInstruments core:AfterOneYear 2023-04-30 01102698 core:ConstructionInProgressAssetsUnderConstruction 2023-04-30 01102698 core:FurnitureFittingsToolsEquipment 2023-04-30 01102698 core:LandBuildings 2023-04-30 01102698 core:OtherPropertyPlantEquipment 2023-04-30 iso4217:GBP xbrli:pure

Registration number: 01102698

W.J.P. Engineering Plastics Limited

Unaudited Abridged Financial Statements

(Companies House version)

for the Year Ended 30 April 2024

 

W.J.P. Engineering Plastics Limited

Contents

Accountants' Report

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 7

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
W.J.P. Engineering Plastics Limited
for the Year Ended 30 April 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of W.J.P. Engineering Plastics Limited for the year ended 30 April 2024 as set out on pages 2 to 7 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 at http://www.icaew.com/en/members/regulations-standards-and-guidance/.

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

It is your duty to ensure that W.J.P. Engineering Plastics Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of W.J.P. Engineering Plastics Limited. You consider that W.J.P. Engineering Plastics 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 accounts of W.J.P. Engineering Plastics 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 accounts.

......................................

Page Kirk LLP
Chartered Accountants
Sherwood House
7 Gregory Boulevard
Nottingham
NG7 6LB

31 January 2025

 

W.J.P. Engineering Plastics Limited

(Registration number: 01102698)
Abridged Balance Sheet as at 30 April 2024

Note

2024

2023

   

£

£

£

£

Fixed assets

   

 

Tangible assets

4

 

173,066

 

176,647

Current assets

   

 

Stocks

299,283

 

204,709

 

Debtors

422,083

 

434,194

 

Cash at bank and in hand

 

1,407,491

 

1,069,996

 

 

2,128,857

 

1,708,899

 

Creditors: Amounts falling due within one year

5

(785,047)

 

(704,652)

 

Net current assets

   

1,343,810

 

1,004,247

Total assets less current liabilities

   

1,516,876

 

1,180,894

Creditors: Amounts falling due after more than one year

5

 

-

 

(10,487)

Provisions for liabilities

 

(1,123)

 

(772)

Net assets

   

1,515,753

 

1,169,635

Capital and reserves

   

 

Called up share capital

19,700

 

19,700

 

Share premium reserve

1,160

 

1,160

 

Profit and loss account

1,494,893

 

1,148,775

 

Total equity

   

1,515,753

 

1,169,635

 

W.J.P. Engineering Plastics Limited

(Registration number: 01102698)
Abridged Balance Sheet as at 30 April 2024

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 31 January 2025 and signed on its behalf by:
 

.........................................
Mr G A Burton
Director

.........................................
Mr G Eley
Director

 

W.J.P. Engineering Plastics Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Albert Works
Albert Avenue
Bobbers Mill
Nottingham
NG8 5BE

These financial statements were authorised for issue by the Board on 31 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Basis of preparation of financial statements

These financial statements were prepared under the historical cost convention in accordance with applicable United Kingdom accounting standards, including the Financial Reporting Standard 102 ('FRS 102') Section 1A small entities, and with the Companies Act 2006.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

W.J.P. Engineering Plastics Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2024

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and buildings

2% on a straight line basis

Plant and machinery

20% on a straight line basis

Fixtures and fittings

50% on a reducing balance basis

Office equipment

33% on a straight line basis

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

W.J.P. Engineering Plastics Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

During the year, the average number of employees at the company was 11 (2023 - 11).

 

W.J.P. Engineering Plastics Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2024

4

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Office equipment
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 May 2023

205,582

183

3,069

165,201

374,035

Additions

-

-

1,749

-

1,749

At 30 April 2024

205,582

183

4,818

165,201

375,784

Depreciation

At 1 May 2023

32,896

183

3,068

161,241

197,388

Charge for the year

4,112

-

228

990

5,330

At 30 April 2024

37,008

183

3,296

162,231

202,718

Carrying amount

At 30 April 2024

168,574

-

1,522

2,970

173,066

At 30 April 2023

172,686

-

1

3,960

176,647

5

Creditors

Creditors: amounts falling due within one year

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £10,365 (2023 - £16,684).

Creditors: amounts falling due after more than one year

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £Nil (2023 - £10,487).

6

Charges and securities

Freehold property is secured by way of a negative pledge to Barclays Bank plc, dated 17 December 2014.