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REGISTERED NUMBER: 04869930 (England and Wales)




















Report of the Directors and

Unaudited Financial Statements

for the Year Ended 31 August 2024

for

W P COMMERCIALS LIMITED

W P COMMERCIALS LIMITED (REGISTERED NUMBER: 04869930)

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










Page

Company Information 1

Report of the Directors 2

Chartered Accountants' Report 3

Income Statement 4

Balance Sheet 5

Statement of Changes in Equity 7

Notes to the Financial Statements 8


W P COMMERCIALS LIMITED

Company Information
for the Year Ended 31 August 2024







DIRECTORS: W M Paternoster
H J Paternoster
L D Paternoster





REGISTERED OFFICE: Fre-Mel Farm Comp Lane,
Offham, West Malling
Kent
ME19 5PP





REGISTERED NUMBER: 04869930 (England and Wales)





ACCOUNTANTS: Calcutt Matthews WBZ Ltd
19 North Street
Ashford
Kent
TN24 8LF

W P COMMERCIALS LIMITED (REGISTERED NUMBER: 04869930)

Report of the Directors
for the Year Ended 31 August 2024


The directors present their report with the financial statements of the company for the year ended 31 August 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of offering hire of commercial vehicles.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 September 2023 to the date of this report.

W M Paternoster
H J Paternoster
L D Paternoster

CHARITABLE DONATIONS
The company made charitable donations of £100 (2023: £3,000) during the year.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





W M Paternoster - Director


6 May 2025

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
W P Commercials Limited



In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of W P Commercials Limited for the year ended 31 August 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

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

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






Calcutt Matthews WBZ Ltd
19 North Street
Ashford
Kent
TN24 8LF


Date: .............................................

W P COMMERCIALS LIMITED (REGISTERED NUMBER: 04869930)

Income Statement
for the Year Ended 31 August 2024

31.8.24 31.8.23
Notes £    £   

TURNOVER 7,770,016 6,674,820

Cost of sales 3,862,762 2,941,549
GROSS PROFIT 3,907,254 3,733,271

Administrative expenses 866,436 711,467
3,040,818 3,021,804

Other operating income 223,682 146,117
OPERATING PROFIT 4 3,264,500 3,167,921

Interest receivable and similar income 62,100 25,247
PROFIT BEFORE TAXATION 3,326,600 3,193,168

Tax on profit 856,175 314,425
PROFIT FOR THE FINANCIAL YEAR 2,470,425 2,878,743

W P COMMERCIALS LIMITED (REGISTERED NUMBER: 04869930)

Balance Sheet
31 August 2024

31.8.24 31.8.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 5 26,494 35,326
Tangible assets 6 14,526,986 11,846,198
Investment property 7 1,601,372 1,601,372
16,154,852 13,482,896

CURRENT ASSETS
Stocks 14,700 26,917
Debtors 8 1,549,092 1,212,894
Cash at bank 3,669,061 3,978,148
5,232,853 5,217,959
CREDITORS
Amounts falling due within one year 9 2,042,973 1,811,899
NET CURRENT ASSETS 3,189,880 3,406,060
TOTAL ASSETS LESS CURRENT LIABILITIES 19,344,732 16,888,956

PROVISIONS FOR LIABILITIES 10 1,615,177 1,379,644
NET ASSETS 17,729,555 15,509,312

CAPITAL AND RESERVES
Called up share capital 11 2,400 2,400
Retained earnings 17,727,155 15,506,912
SHAREHOLDERS' FUNDS 17,729,555 15,509,312

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

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

The directors acknowledge their 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.

W P COMMERCIALS LIMITED (REGISTERED NUMBER: 04869930)

Balance Sheet - continued
31 August 2024


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

The financial statements were approved by the Board of Directors and authorised for issue on 6 May 2025 and were signed on its behalf by:





W M Paternoster - Director


W P COMMERCIALS LIMITED (REGISTERED NUMBER: 04869930)

Statement of Changes in Equity
for the Year Ended 31 August 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 September 2022 2,400 12,953,176 12,955,576

Changes in equity
Total comprehensive income - 2,878,743 2,878,743
Dividends - (325,007 ) (325,007 )
Balance at 31 August 2023 2,400 15,506,912 15,509,312

Changes in equity
Total comprehensive income - 2,470,425 2,470,425
Dividends - (250,182 ) (250,182 )
Balance at 31 August 2024 2,400 17,727,155 17,729,555

W P COMMERCIALS LIMITED (REGISTERED NUMBER: 04869930)

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


1. STATUTORY INFORMATION

W P Commercials Limited 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.

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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Intangibles are being amortised at 25% - 33% on reducing balance.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its useful life.

Plant & Machinery - 25% on reducing balance
Motor Vehicles - 25% on reducing balance
Computer Equipment - 33.3% on cost
Improvements to Investment Property - 10% on reducing balance
Hire Vehicles & Equipment - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company only enters into basic financial instruments transactions the result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

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.

W P COMMERCIALS LIMITED (REGISTERED NUMBER: 04869930)

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


2. ACCOUNTING POLICIES - continued

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

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2023 - 13 ) .

4. OPERATING PROFIT

The operating profit is stated after charging:

31.8.24 31.8.23
£    £   
Depreciation - owned assets 2,310,536 1,858,026
Motor vehicles amortisation 8,832 3,414

5. INTANGIBLE FIXED ASSETS
Motor
Goodwill vehicles Totals
£    £    £   
COST
At 1 September 2023
and 31 August 2024 120,000 39,974 159,974
AMORTISATION
At 1 September 2023 120,000 4,648 124,648
Amortisation for year - 8,832 8,832
At 31 August 2024 120,000 13,480 133,480
NET BOOK VALUE
At 31 August 2024 - 26,494 26,494
At 31 August 2023 - 35,326 35,326

W P COMMERCIALS LIMITED (REGISTERED NUMBER: 04869930)

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


6. TANGIBLE FIXED ASSETS
Improvements Hire
to Plant and vehicles
property machinery & equipment
£    £    £   
COST
At 1 September 2023 217,574 452,253 17,073,033
Additions 88,747 140,535 6,333,706
Disposals - (7,740 ) (3,077,506 )
At 31 August 2024 306,321 585,048 20,329,233
DEPRECIATION
At 1 September 2023 116,243 146,459 5,822,579
Charge for year 11,762 89,269 2,149,119
Eliminated on disposal - (1,821 ) (1,501,119 )
At 31 August 2024 128,005 233,907 6,470,579
NET BOOK VALUE
At 31 August 2024 178,316 351,141 13,858,654
At 31 August 2023 101,331 305,794 11,250,454

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 September 2023 296,166 119,064 18,158,090
Additions - 10,642 6,573,630
Disposals - - (3,085,246 )
At 31 August 2024 296,166 129,706 21,646,474
DEPRECIATION
At 1 September 2023 150,021 76,590 6,311,892
Charge for year 44,184 16,202 2,310,536
Eliminated on disposal - - (1,502,940 )
At 31 August 2024 194,205 92,792 7,119,488
NET BOOK VALUE
At 31 August 2024 101,961 36,914 14,526,986
At 31 August 2023 146,145 42,474 11,846,198

W P COMMERCIALS LIMITED (REGISTERED NUMBER: 04869930)

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


7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2023
and 31 August 2024 1,601,372
NET BOOK VALUE
At 31 August 2024 1,601,372
At 31 August 2023 1,601,372

The properties were included in the financial statements at their cost. The directors have assessed the value of the investment property at 31 August 2024 and believe there to be no material change.

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 1,459,391 1,138,538
Other debtors 89,701 74,356
1,549,092 1,212,894

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade creditors 722,250 388,309
Taxation and social security 437,641 480,358
Other creditors 883,082 943,232
2,042,973 1,811,899

10. PROVISIONS FOR LIABILITIES
31.8.24 31.8.23
£    £   
Deferred tax
Accelerated capital allowances 1,615,177 1,379,644

Deferred
tax
£   
Balance at 1 September 2023 1,379,644
Provided during year 235,533
Balance at 31 August 2024 1,615,177

W P COMMERCIALS LIMITED (REGISTERED NUMBER: 04869930)

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


11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid: Nominal Value 2024 2023
Number £    £   
100 Ordinary A £1 100 100
1,174 Ordinary B £1 1,174 1,000
826 Ordinary C £1 826 1,000
100 Ordinary D £1 100 100
100 Ordinary E £1 100 100
100 Ordinary F £1 100 100
2,400 2,400

12. RELATED PARTY DISCLOSURES

As at the balance sheet date, the company owed the directors £95,655 (2023: £166,133).

The company operates from premises owned by the directors. During the year, the company paid rents of £176,200 (2023: £99,996) for the use of the premises.

13. ULTIMATE CONTROLLING PARTY

The controlling party is W M Paternoster.