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COMPANY REGISTRATION NUMBER: NI016301

Weslyn Limited

Filleted Unaudited Financial Statements

31 December 2024

Weslyn Limited

Statement of Financial Position

31 December 2024

| 2024 | 2023
Note | £ | £ | £

Fixed assets

Tangible assets | 4 |  | 48,406 | 46,937

Current assets

Stocks | 101,860 |  | 57,368
Debtors | 5 | 103,525 |  | 120,972
Cash at bank and in hand | 1,171 |  | 11,364
| --------- |  | ---------
| 206,556 |  | 189,704

Creditors: amounts falling due within one year | 6 | 198,489 |  | 97,746
| --------- |  | ---------
Net current assets |  | 8,067 | 91,958
|  | -------- | ---------
Total assets less current liabilities |  | 56,473 | 138,895

Creditors: amounts falling due after more than one year | 7 |  | 49,143 | 114,639
|  | -------- | ---------
Net assets |  | 7,330 | 24,256
|  | -------- | ---------

Capital and reserves

Called up share capital |  | 8,000 | 8,000
Profit and loss account |  | ( 670) | 16,256
|  | ------- | --------
Shareholders funds |  | 7,330 | 24,256
|  | ------- | --------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Weslyn Limited

Statement of Financial Position (continued)

31 December 2024
These financial statements were approved by the board of directors and authorised for issue on 30 December 2025 , and are signed on behalf of the board by:

Mr TJB Fletcher | Mrs M Fletcher
Director | Director

Company registration number: NI016301

Weslyn Limited

Notes to the Financial Statements

Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in N Ireland. The address of the registered office is 9 Carrowreagh Business Park,, Carrowreagh Road,, Dundonald, BT16 1QQ.
2. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

| Plant & machinery | - | 10% reducing balance
| Fixtures & fittings | - | 10% reducing balance
| Motor vehicles | - | 20% reducing balance

Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
3. Staff costs
The average number of persons employed by the company during the year, including the directors, amounted to:

| 2024 | 2023
| No. | No.
Production staff | 4 | 4
Distribution staff | 1 | 1
Administrative staff | 1 | 1
Management staff | 2 | 2
| ---- | ----
| 8 | 8
| ---- | ----

The aggregate payroll costs incurred during the year, relating to the above, were:

| 2024 | 2023
| £ | £
Wages and salaries | 159,767 | 149,738
Social security costs | 28,892 | 22,967
Other pension costs | 4,872 | 4,685
| --------- | ---------
| 193,531 | 177,390
| --------- | ---------

4. Tangible assets

| Plant and machinery | Fixtures and fittings | Motor vehicles | Total
| £ | £ | £ | £
Cost |  |  |  |
At 1 January 2024 | 28,739 | 12,427 | 52,545 | 93,711
Additions | 11,428 | – | – | 11,428
| -------- | -------- | -------- | ---------
At 31 December 2024 | 40,167 | 12,427 | 52,545 | 105,139
| -------- | -------- | -------- | ---------
Depreciation |  |  |  |
At 1 January 2024 | 24,301 | 11,973 | 10,500 | 46,774
Charge for the year | 1,500 | 50 | 8,409 | 9,959
| -------- | -------- | -------- | ---------
At 31 December 2024 | 25,801 | 12,023 | 18,909 | 56,733
| -------- | -------- | -------- | ---------
Carrying amount |  |  |  |
At 31 December 2024 | 14,366 | 404 | 33,636 | 48,406
| -------- | -------- | -------- | ---------
At 31 December 2023 | 4,438 | 454 | 42,045 | 46,937
| -------- | -------- | -------- | ---------

5. Debtors

| 2024 | 2023
| £ | £
Trade debtors | 27,534 | 14,506
Debtors - recoverable under contracts | 9,500 | 9,500
Other debtors | 66,491 | 96,966
| --------- | ---------
| 103,525 | 120,972
| --------- | ---------

6. Creditors: amounts falling due within one year

| 2024 | 2023
| £ | £
Bank loans and overdrafts | 87,910 | 10,648
Trade creditors | 49,546 | 24,629
Other creditors | 61,033 | 62,469
| --------- | --------
| 198,489 | 97,746
| --------- | --------

7. Creditors: amounts falling due after more than one year

| 2024 | 2023
| £ | £
Bank loans and overdrafts | 4,306 | 14,244
Amounts owed to group undertakings and undertakings in which the company has a participating interest | 24,778 | 64,778
Other creditors | 20,059 | 35,617
| -------- | ---------
| 49,143 | 114,639
| -------- | ---------

8. Related party transactions
All transactions with related parties which were undertaken are required to be disclosed under Financial Reporting Standard 102, were as follows, Cardinal Analytics Ltd., is a related party, as it is owned by Mr & Mrs Fletcher's son. The following are further details of same, 2024 2023 £ £ Mr & Mrs Fletcher credit balance o/s 23 23 Cardinal Analytics Ltd debit bal o/s 61,000 89,000