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REGISTERED NUMBER: 08726098 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2024

for

WP Recovery Ltd

WP Recovery Ltd (Registered number: 08726098)






Contents of the Financial Statements
for the Year Ended 31 October 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


WP Recovery Ltd

Company Information
for the Year Ended 31 October 2024







DIRECTOR: W S C Patton





REGISTERED OFFICE: Belfry House
Bell Lane
Hertford
Hertfordshire
SG14 1BP





REGISTERED NUMBER: 08726098 (England and Wales)





ACCOUNTANTS: Chaves LLP
Belfry House
Bell Lane
Hertford
Hertfordshire
SG14 1BP

WP Recovery Ltd (Registered number: 08726098)

Abridged Balance Sheet
31 October 2024

31.10.24 31.10.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 75,021 74,505

CURRENT ASSETS
Debtors 27,611 36,566
Cash at bank 28,433 16,223
56,044 52,789
CREDITORS
Amounts falling due within one year 66,399 54,051
NET CURRENT LIABILITIES (10,355 ) (1,262 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

64,666

73,243

CREDITORS
Amounts falling due after more than one
year

(48,983

)

(57,980

)

PROVISIONS FOR LIABILITIES 7 (14,254 ) (14,156 )
NET ASSETS 1,429 1,107

CAPITAL AND RESERVES
Called up share capital 8 101 101
Retained earnings 1,328 1,006
SHAREHOLDERS' FUNDS 1,429 1,107

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 October 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

WP Recovery Ltd (Registered number: 08726098)

Abridged Balance Sheet - continued
31 October 2024



The financial statements were approved by the director and authorised for issue on 24 April 2025 and were signed by:





W S C Patton - Director


WP Recovery Ltd (Registered number: 08726098)

Notes to the Financial Statements
for the Year Ended 31 October 2024

1. STATUTORY INFORMATION

WP Recovery Ltd 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. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

WP Recovery Ltd (Registered number: 08726098)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 November 2023 144,233
Additions 25,500
At 31 October 2024 169,733
DEPRECIATION
At 1 November 2023 69,728
Charge for year 24,984
At 31 October 2024 94,712
NET BOOK VALUE
At 31 October 2024 75,021
At 31 October 2023 74,505

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 November 2023 109,206
Additions 15,000
At 31 October 2024 124,206
DEPRECIATION
At 1 November 2023 50,192
Charge for year 18,504
At 31 October 2024 68,696
NET BOOK VALUE
At 31 October 2024 55,510
At 31 October 2023 59,014

5. LOANS

An analysis of the maturity of loans is given below:

31.10.24 31.10.23
£    £   
Amounts falling due within one year or on demand:
Bank loans 6,068 6,463

Amounts falling due between one and two years:
Bank loans - 1-2 years 4,501 10,569

WP Recovery Ltd (Registered number: 08726098)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

6. SECURED DEBTS

The following secured debts are included within creditors:

31.10.24 31.10.23
£    £   
Bank loans 10,569 17,032

The bounce back loan is secured by Enterprise Finance Guarantee.

7. PROVISIONS FOR LIABILITIES
31.10.24 31.10.23
£    £   
Deferred tax
Accelerated capital allowances 14,254 14,156

Deferred
tax
£   
Balance at 1 November 2023 14,156
Provided during year 98
Balance at 31 October 2024 14,254

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.10.24 31.10.23
value: £    £   
100 Ordinary £1 100 100
1 A £1 1 1
101 101