| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 October 2024 |
| for |
| WP Recovery Ltd |
| REGISTERED NUMBER: |
| 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: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 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 |
| CURRENT ASSETS |
| Debtors |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 7 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 8 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| 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 |
| 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 |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| 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 |
| Plant and machinery | - |
| Motor vehicles | - |
| Computer equipment | - |
| 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 |
| 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 |
| Additions |
| At 31 October 2024 |
| DEPRECIATION |
| At 1 November 2023 |
| Charge for year |
| At 31 October 2024 |
| NET BOOK VALUE |
| At 31 October 2024 |
| At 31 October 2023 |
| 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 |
| Amounts falling due between one and two years: |
| Bank loans - 1-2 years |
| 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 |
| 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 |
| Deferred |
| tax |
| £ |
| Balance at 1 November 2023 |
| Provided during year |
| Balance at 31 October 2024 |
| 8. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.10.24 | 31.10.23 |
| value: | £ | £ |
| Ordinary | £1 | 100 | 100 |
| A | £1 | 1 | 1 |
| 101 | 101 |