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Registered number: 08685543
Wyepak Limited
Unaudited Financial Statements
For The Year Ended 30 September 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08685543
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 308,181 327,502
308,181 327,502
CURRENT ASSETS
Stocks 5 15,492 14,754
Debtors 6 601,478 794,039
Cash at bank and in hand 722,114 137,193
1,339,084 945,986
Creditors: Amounts Falling Due Within One Year 7 (659,965 ) (459,809 )
NET CURRENT ASSETS (LIABILITIES) 679,119 486,177
TOTAL ASSETS LESS CURRENT LIABILITIES 987,300 813,679
Creditors: Amounts Falling Due After More Than One Year 8 (29,081 ) (70,637 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (77,045 ) (71,775 )
NET ASSETS 881,174 671,267
CAPITAL AND RESERVES
Called up share capital 10 100 100
Other reserves (80,000 ) (80,000 )
Profit and Loss Account 961,074 751,167
SHAREHOLDERS' FUNDS 881,174 671,267
Page 1
Page 2
For the year ending 30 September 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 director acknowledges his 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 Mark Tooth
Director
16/04/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Wyepak Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08685543 . The registered office is Unit 5 Wallbrook Court, Rotherwas Industrial Estate, Hereford, Herefordshire, HR2 6JG.
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.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
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:
Plant & Machinery 25% Reducing Balance
Fixtures & Fittings 25% Reducing Balance
Computer Equipment 3 Year Straight Line
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. 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.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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2.6. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 20 (2023: 26)
20 26
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 October 2023 748,809 165,961 44,772 959,542
Additions 80,057 - 10,183 90,240
Disposals (117,898 ) (6,875 ) (14,395 ) (139,168 )
As at 30 September 2024 710,968 159,086 40,560 910,614
Depreciation
As at 1 October 2023 521,953 68,847 41,240 632,040
Provided during the period 59,413 24,280 2,622 86,315
Disposals (96,235 ) (5,306 ) (14,381 ) (115,922 )
As at 30 September 2024 485,131 87,821 29,481 602,433
Net Book Value
As at 30 September 2024 225,837 71,265 11,079 308,181
As at 1 October 2023 226,856 97,114 3,532 327,502
5. Stocks
2024 2023
£ £
Materials 15,492 14,754
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 425,513 612,429
Prepayments and accrued income 49,581 52,016
Other debtors - 3,210
Intercompany account - debtor 126,384 126,384
601,478 794,039
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 41,556 64,546
Trade creditors 405,822 111,679
Corporation tax 78,316 19,365
Other taxes and social security 13,412 12,704
VAT 5,422 63,885
Other creditors 3,929 2,480
Accruals and deferred income 12,063 12,494
Director's loan account 99,445 172,656
659,965 459,809
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 29,081 70,637
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 41,556 64,546
Later than one year and not later than five years 29,081 70,637
70,637 135,183
70,637 135,183
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
11. Related Party Transactions
Roxbury LtdShared Director - Mr Mark ToothDuring the period, Roxbury Ltd billed the Company £279,000 (2023: £54,000) for management services and incidental expenses. At the balance sheet date, there was a total of £270,000 (2023: £5,400) outstanding to be paid to the related party.

Roxbury Ltd

Shared Director - Mr Mark Tooth

During the period, Roxbury Ltd billed the Company £279,000 (2023: £54,000) for management services and incidental expenses. At the balance sheet date, there was a total of £270,000 (2023: £5,400) outstanding to be paid to the related party.

Wyepak (Holdings) LimitedCompany's sole shareholderDuring the year-ended 30th September 2021, Wyepak (Holdings) Limited agreed to take on the company's pension obligation in respect of James Cooper and Mark Tooth. The company agreed to pay Wyepak (Holdings) Limited £375,000 which is the actuarial valuation of the pension obligations at transfer. The balance included within Other Debtors at the balance sheet date was £126,384 (2023: £126,384)

Wyepak (Holdings) Limited

Company's sole shareholder

During the year-ended 30th September 2021, Wyepak (Holdings) Limited agreed to take on the company's pension obligation in respect of James Cooper and Mark Tooth. The company agreed to pay Wyepak (Holdings) Limited £375,000 which is the actuarial valuation of the pension obligations at transfer. The balance included within Other Debtors at the balance sheet date was £126,384 (2023: £126,384)

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