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REGISTERED NUMBER: SC154577 (Scotland)















Unaudited Financial Statements for the Year Ended 30 September 2024

for

Wardpark Industries Limited

Wardpark Industries Limited (Registered number: SC154577)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Wardpark Industries Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: C McKinnon
K O'Neill





REGISTERED OFFICE: 76 Dumbarton Road
Clydebank
Glasgow
G81 1UG





REGISTERED NUMBER: SC154577 (Scotland)





ACCOUNTANTS: Graham & Co. (Accountants) Limited
Chartered Accountants
76 Dumbarton Road
Clydebank
Glasgow
G81 1UG

Wardpark Industries Limited (Registered number: SC154577)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 223,407 149,598

CURRENT ASSETS
Stocks 100,000 85,000
Debtors 5 1,548,933 704,942
Cash at bank and in hand 346,689 543,472
1,995,622 1,333,414
CREDITORS
Amounts falling due within one year 6 1,053,409 588,147
NET CURRENT ASSETS 942,213 745,267
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,165,620

894,865

CREDITORS
Amounts falling due after more than one
year

7

(296,670

)

(95,207

)

PROVISIONS FOR LIABILITIES (53,102 ) (34,046 )
NET ASSETS 815,848 765,612

CAPITAL AND RESERVES
Called up share capital 40,000 40,000
Retained earnings 775,848 725,612
SHAREHOLDERS' FUNDS 815,848 765,612

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

Wardpark Industries Limited (Registered number: SC154577)

Balance Sheet - continued
30 September 2024


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

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

The financial statements were approved by the Board of Directors and authorised for issue on 26 June 2025 and were signed on its behalf by:





C McKinnon - Director


Wardpark Industries Limited (Registered number: SC154577)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Wardpark Industries Limited is a private company, limited by shares , registered in Scotland. 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.

Significant judgements and estimates
Preparation of the financial statements requires management to make significant judgements and estimates. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

Changes to estimates and underlying assumptions are recognised in the period in which the estimate is revised, where the revision affects only that period, or in the period of the revision and future periods, where the revision affects both current and future periods.

The directors are of the opinion that there are no matters of significant judgements, estimates and assumptions that have significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

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.
Improvements to property - over lease term
Plant and machinery - 20% on cost
Computer equipment - 33% on cost

Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

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

Wardpark Industries Limited (Registered number: SC154577)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial assets and liabilities are recognised when the Company becomes a party to the contractual provisions of the financial instrument. The Company holds basic financial instruments which comprise cash and cash equivalents, trade and other debtors, trade and other creditors and
loans from banks and other related parties.

Cash and cash equivalents comprise cash in hand and deposits held with banks.

Trade and other debtors are initially recognised at the transaction cost, less any provision for impairment. At the end of each reporting year, the company assesses whether there is objective evidence that any asset may be impaired. A provision for impairment is established when there is objective evidence that the Company will not be able to collect all the amounts due according to the original terms of the financial assets. the amount of the provision is recognised immediately in the statement of income and retained earnings.

Trade and other creditors are measured initially at the transaction price including any transaction costs. Amounts that are payable within one year are measured at the undiscounted amount expected to be payable.

Bank loans are recognised at the fixed amount to be repaid.

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.

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.

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.

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.

Wardpark Industries Limited (Registered number: SC154577)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2023 - 27 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 October 2023 61,465 1,060,835 7,878 51,930 1,182,108
Additions - 131,100 54 4,307 135,461
At 30 September 2024 61,465 1,191,935 7,932 56,237 1,317,569
DEPRECIATION
At 1 October 2023 60,105 916,372 7,590 48,443 1,032,510
Charge for year 340 58,371 75 2,866 61,652
At 30 September 2024 60,445 974,743 7,665 51,309 1,094,162
NET BOOK VALUE
At 30 September 2024 1,020 217,192 267 4,928 223,407
At 30 September 2023 1,360 144,463 288 3,487 149,598

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 October 2023 90,450 1,486 91,936
Additions 118,100 - 118,100
Transfer to ownership - (1,486 ) (1,486 )
At 30 September 2024 208,550 - 208,550
DEPRECIATION
At 1 October 2023 90,658 1,486 92,144
Charge for year 44,686 - 44,686
Transfer to ownership - (1,486 ) (1,486 )
At 30 September 2024 135,344 - 135,344
NET BOOK VALUE
At 30 September 2024 73,206 - 73,206
At 30 September 2023 (208 ) - (208 )

Wardpark Industries Limited (Registered number: SC154577)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 847,953 666,926
Amounts owed by group undertakings 678,841 -
Other debtors 22,139 38,016
1,548,933 704,942

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Bank loans and overdrafts 50,147 10,000
Hire purchase contracts 42,209 35,044
Trade creditors 366,240 283,155
Amounts owed to group undertakings 341,213 -
Taxation and social security 210,301 194,268
Other creditors 43,299 65,680
1,053,409 588,147

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.24 30.9.23
£    £   
Bank loans 167,241 20,724
Hire purchase contracts 129,429 74,483
296,670 95,207

8. SECURED DEBTS

The Royal Bank of Scotland Plc hold a Fixed Charge and a Bond and Floating Charge which covers all the property or undertakings of the company.

9. RELATED PARTY DISCLOSURES

During the year Wardpark Industries Ltd operated and administered company business from the industrial premises owned by its parent company, BEC Plastics Ltd. The commercial rent within the year to 30 September 2024 was - £54,000 (2023- £54,000).

At 30 September 2024, debtors included balances of £124,648 due by BEC Plastics Holdings Ltd and £554,193 due by BEC Industries Ltd respect. Creditors included a balance of £341,213 due to BEC Plastics Ltd

Dividends totalling £300,000 were declared in relation to BEC Plastics Ltd.

Mr C. McKinnon was a director of Wardpark Industries Ltd, BEC Plastics Ltd, BEC Plastics Holdings Ltd and BEC Industries Ltd as at 30 September 2024.

10. ULTIMATE CONTROLLING PARTY

The ultimate holding Company is BEC Industries Ltd. which is controlled by Colin McKinnon.