REGISTERED NUMBER: 10910819 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Wepack Ltd.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

S M Clark

SECRETARY:

Mrs S Clark

REGISTERED OFFICE:

Cedar Court

Griffon Road

Quarry Hill Industrial Park

Ilkeston

Derbyshire

DE7 4RF

REGISTERED NUMBER:

10910819 (England and Wales)

ACCOUNTANTS:

TC Group

Cliffe Hill House

22-26 Nottingham Road

Stapleford

Nottingham

NG9 8AA

FIXED ASSETS

Intangible assets

4

13,500

19,500

Tangible assets

5

704,027

750,898

717,527

770,398

CURRENT ASSETS

Stocks

238,433

233,171

Debtors

6

604,952

603,702

Cash at bank and in hand

679,147

283,377

1,522,532

1,120,250

CREDITORS

Amounts falling due within one year

7

1,214,013

1,074,913

NET CURRENT ASSETS

308,519

45,337

TOTAL ASSETS LESS CURRENT LIABILITIES

1,026,046

815,735

CREDITORS

Amounts falling due after more than one year

8

(30,500

)

(68,170

)

PROVISIONS FOR LIABILITIES

(87,681

)

(119,765

)

NET ASSETS

907,865

627,800

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

907,765

627,700

SHAREHOLDERS' FUNDS

907,865

627,800

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

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

The financial statements were approved by the director and authorised for issue on 26 September 2025 and were signed by:

S M Clark - Director

1.	STATUTORY INFORMATION

Wepack 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.

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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of ten years.

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 etc

-

20% on reducing balance, 15% on reducing balance and 4% on cost

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Stocks

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 items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 38 (2023 - 34 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

60,000

AMORTISATION

At 1 January 2024

40,500

Charge for year

6,000

At 31 December 2024

46,500

NET BOOK VALUE

At 31 December 2024

13,500

At 31 December 2023

19,500

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

1,100,662

Additions

101,346

Disposals

(52,920

)

At 31 December 2024

1,149,088

DEPRECIATION

At 1 January 2024

349,764

Charge for year

106,230

Eliminated on disposal

(22,207

)

Impairments

11,274

At 31 December 2024

445,061

NET BOOK VALUE

At 31 December 2024

704,027

At 31 December 2023

750,898

During the year, the company reviewed the carrying value of certain plant and machinery. An impairment loss of £11,274 was recognised in the profit and loss account to reflect a reduction in the recoverable amount of the asset. The carrying value of the impaired asset as at the balance sheet date is now £15,000.

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

Plant and

machinery

etc

£

COST

At 1 January 2024

245,146

Transfer to ownership

(28,700

)

At 31 December 2024

216,446

DEPRECIATION

At 1 January 2024

66,495

Charge for year

26,446

Transfer to ownership

(10,332

)

At 31 December 2024

82,609

NET BOOK VALUE

At 31 December 2024

133,837

At 31 December 2023

178,651

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

548,437

560,745

Other debtors

56,515

42,957

604,952

603,702

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Hire purchase contracts (see note 9)

46,839

21,012

Trade creditors

207,475

149,094

Amounts owed to group undertakings

470,559

420,609

Taxation and social security

388,169

297,891

Other creditors

100,971

186,307

1,214,013

1,074,913

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Hire purchase contracts (see note 9)

30,500

68,170

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

31.12.24

31.12.23

£

£

Net obligations repayable:

Within one year

46,839

21,012

Between one and five years

30,500

68,170

77,339

89,182

Non-cancellable

operating leases

31.12.24

31.12.23

£

£

Within one year

22,058

18,140

Between one and five years

34,544

6,898

56,602

25,038

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

£

Hire purchase contracts

77,339

89,182

The hire purchase debts are secured against the asset to which they relate.

11.	OTHER FINANCIAL COMMITMENTS

The company has introduced new software to control production and is committed to pay £31,000 in the following year and £33,000 in the subsequent year to that.