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Registered number: 13859215
Waypoint Commodities Limited
Unaudited Financial Statements
For The Year Ended 31 May 2024
Max Accountants Ltd
Ketton Suite
The King Centre
Oakham
Rutland
LE15 7WD
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 13859215
31 May 2024 31 May 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 6,011 3,762
6,011 3,762
CURRENT ASSETS
Stocks 5 27,459 -
Debtors 6 537,795 54,801
Cash at bank and in hand 13,130 1,275,086
578,384 1,329,887
Creditors: Amounts Falling Due Within One Year 7 (216,940 ) (173,269 )
NET CURRENT ASSETS (LIABILITIES) 361,444 1,156,618
TOTAL ASSETS LESS CURRENT LIABILITIES 367,455 1,160,380
NET ASSETS 367,455 1,160,380
CAPITAL AND RESERVES
Called up share capital 8 1 1
Share premium account 1,399,248 1,299,997
Other reserves 7,650 -
Profit and Loss Account (1,039,444 ) (139,618 )
SHAREHOLDERS' FUNDS 367,455 1,160,380
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For the year ending 31 May 2024 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Maxim Rozhdov
Director
28 March 2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Waypoint Commodities Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13859215 . The registered office is 167-169 Great Portland Street, 5th Floor, London, W1W 5PF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
Disclosure of long or short period
The prior financial period was over a year due to it being the first set of accounts prepared since incorporation. Therefore the comparatives are not accurate.
2.2. Turnover
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 5 Years Straight line
Computer Equipment 3 Years Straight line
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
2.6. Financial Instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Basic financial assets
Basic financial assets, which include debtors and bank balances, are measured at transaction price including transaction costs.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, are recognised at transaction price including transaction costs.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities.
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2.7. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the profit / loss before taxation.
2.8. Taxation
Tax is recognised in profit or loss except that a charge is attributable to an item of income and expense recognised as other comphrehensive income or to an item recognised directly in equity is also recognised in other comphrehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.
2.9. Employee Benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock of fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
2.10. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.11. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
2.12. Research and Development
In the research phase of an internal project, it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.
2.13. Share Based Payments
The company operates an equity-settled, share-based compensation plan, under which the entity received services from employees as consideration for equity instruments (options) of the entity. The fair value of the employee services received is measured by reference to the estimated fair value at the grant date of equity instruments granted and is recognised as an expense over the vesting period. The estimated fair value of the option granted is calculated using the Black Scholes option pricing model. The total amount expensed is recognised over the vesting period, which is the period over which all of the specified vesting conditions are to be satisfied. 
The proceeds received net of any directly attributable transaction costs are credited to share capital (nominal value) and share premium when the options are exercised. 
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 2)
5 2
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4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 June 2023 - 4,661 4,661
Additions 528 4,329 4,857
As at 31 May 2024 528 8,990 9,518
Depreciation
As at 1 June 2023 - 899 899
Provided during the period 77 2,531 2,608
As at 31 May 2024 77 3,430 3,507
Net Book Value
As at 31 May 2024 451 5,560 6,011
As at 1 June 2023 - 3,762 3,762
5. Stocks
31 May 2024 31 May 2023
£ £
Stock 27,459 -
6. Debtors
31 May 2024 31 May 2023
£ £
Due within one year
Trade debtors 431,901 -
Prepayments and accrued income 38,075 28,940
Other debtors 12,462 6,819
Corporation tax recoverable assets - 10,196
VAT 55,357 8,846
537,795 54,801
7. Creditors: Amounts Falling Due Within One Year
31 May 2024 31 May 2023
£ £
Trade creditors 138,411 35,858
Other taxes and social security 11,934 3,225
Other creditors 2,273 514
Accruals and deferred income 16,503 60,673
Directors' loan accounts 47,819 72,999
216,940 173,269
8. Share Capital
31 May 2024 31 May 2023
£ £
Allotted, Called up and fully paid 1 1
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9. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
31 May 2024 31 May 2023
£ £
Not later than one year 144,492 17,181
Later than one year and not later than five years 12,041 -
156,533 17,181
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