FOR THE YEAR ENDED 30 SEPTEMBER 2025
W. WING YIP (LONDON) LIMITED
COMPANY INFORMATION
W. WING YIP (LONDON) LIMITED
CONTENTS
W. WING YIP (LONDON) LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2025
The Company's principal activities continued to be those of importers, wholesalers and distributors of oriental foods and general merchandise.
We aim to present a balanced and comprehensive review of the development and performance of our business during the year and its position at the year end. Our review is consistent with the size and non-complex nature of our business and is written in the context of the risks and uncertainties that we face.
We aim to present a balanced and comprehensive review of the development and performance of our business during the year and its position at the year end. Our review is consistent with the size and non-complex nature of our business and is written in the context of the risks and uncertainties that we face.
As an importer, wholesaler and distributor of oriental foods and general merchandise the company has no requirement to split its business into separate divisions as its entire turnover relates to this activity.
The Directors consider principal risks and uncertainties at a group level and therefore the below disclosure is on a Group basis.
The Group takes risk management very seriously. It has a formal risk committee which meets regularly throughout the year and maintains both a strategic and a detailed risk register. The principal risks are then reported to and reviewed by the Board on a twice-yearly basis.
The Group remains cautious and encourages following safe procedures in all our sites by both staff and customers alike. To that end, a dedicated health and safety manager was appointed last year and they have been proactive in visiting sites, auditing and developing procedures to mitigate risks wherever necessary.
The global events which have occurred both during the year and since the year end have continued to create challenging market conditions and, as ever, the Group will continue to meet and respond to these challenges as they arise.
Labour markets in the UK generally appear to have eased slightly, possibly due to the problems facing the hospitality industry. However, attracting and sourcing employees of the quality required by the Group continues to be difficult. The Group has always endeavoured to only employ colleagues who it believes will engage in its core values and be with the business for the long term and once engaged it makes every effort to retain them. The Group also engages with Universities and has an active programme to support undergraduate courses which are complementary to its core business including providing placement years to suitable candidates.
In addition to the above other risks and uncertainties such as exchange rate fluctuations, climate change and how it affects the state of worldwide agriculture continue to provide challenges. However, given the overall performance of the Group during the last few years, the Directors remain confident the business is as robust as it can be to continue to meet future challenges. This confidence is reflected in the continuous major investments being made by the Group and the Directors remain prepared to deal with changes in the operating environment as and when they occur.
The Group takes risk management very seriously. It has a formal risk committee which meets regularly throughout the year and maintains both a strategic and a detailed risk register. The principal risks are then reported to and reviewed by the Board on a twice-yearly basis.
The Group remains cautious and encourages following safe procedures in all our sites by both staff and customers alike. To that end, a dedicated health and safety manager was appointed last year and they have been proactive in visiting sites, auditing and developing procedures to mitigate risks wherever necessary.
The global events which have occurred both during the year and since the year end have continued to create challenging market conditions and, as ever, the Group will continue to meet and respond to these challenges as they arise.
Labour markets in the UK generally appear to have eased slightly, possibly due to the problems facing the hospitality industry. However, attracting and sourcing employees of the quality required by the Group continues to be difficult. The Group has always endeavoured to only employ colleagues who it believes will engage in its core values and be with the business for the long term and once engaged it makes every effort to retain them. The Group also engages with Universities and has an active programme to support undergraduate courses which are complementary to its core business including providing placement years to suitable candidates.
In addition to the above other risks and uncertainties such as exchange rate fluctuations, climate change and how it affects the state of worldwide agriculture continue to provide challenges. However, given the overall performance of the Group during the last few years, the Directors remain confident the business is as robust as it can be to continue to meet future challenges. This confidence is reflected in the continuous major investments being made by the Group and the Directors remain prepared to deal with changes in the operating environment as and when they occur.
Notwithstanding the above, the Group continues with plans for the future growth and development of the business and continuously explores and considers projects that will be relevant to the sector going forwards as changes in the operating environment occur. To that end, the construction of a new cold store facility at the Birmingham site is due to be completed and commissioned in March 2026. This will provide much needed on site cold storage which until now has had to be sourced externally. Furthermore, in December 2025 the Group opened its first “convenience” store in Watford and is currently advanced in plans to open two more early in 2026 followed by other opportunities which should be rolled out during the current year. These include the acquisition of two freeholds which have been achieved since the year end. The joint venture project with an oriental vegan food producer to sell and distribute its products online has continued during the year with sales increasing modestly but, at the year end, plans are in place to undertake a major online marketing campaign with a view of increasing sales significantly.
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W. WING YIP (LONDON) LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
We consider that our key financial performance indicators are those that communicate our financial performance and strength of the Company as a whole and these are:
A director of a company must act in the way they consider, in good faith, would be most likely to promote the success of the company for the benefit of its members as a whole, and in doing so have regard (amongst other matters) to:
(a) the likely consequences of any decision in the long term,
(b) the interests of the company's employees,
(c) the need to foster the company's business relationships with suppliers, customers and others,
(d) the impact of the company's operations on the community and the environment,
(e) the desirability of the company maintaining a reputation for high standards of business conduct, and
(f) the need to act fairly between members of the company.
(a) the likely consequences of any decision in the long term,
(b) the interests of the company's employees,
(c) the need to foster the company's business relationships with suppliers, customers and others,
(d) the impact of the company's operations on the community and the environment,
(e) the desirability of the company maintaining a reputation for high standards of business conduct, and
(f) the need to act fairly between members of the company.
Our mission is to be the leading supplier of oriental food and related products in the UK. To achieve this, we passionately commit to engaging with all our stakeholders, the key ones being: customers, employees and suppliers.
Our objective is to maintain and grow our loyal and satisfied customer base which is served by engaged and motivated employees supplying market leading products from our suppliers.
Decisions are taken on a day to day basis by the management team and the Board meets bimonthly to review the operating performance and to consider and make key decisions.
Our objective is to maintain and grow our loyal and satisfied customer base which is served by engaged and motivated employees supplying market leading products from our suppliers.
Decisions are taken on a day to day basis by the management team and the Board meets bimonthly to review the operating performance and to consider and make key decisions.
In order to discharge the directors’ duties under Section 172 of The Companies Act key stakeholders are considered throughout the directors’ decision making process. It is the firmly held belief that the ongoing success of the Company is dependent on engaging with key stakeholders in this way.
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W. WING YIP (LONDON) LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
The Board is committed to recruiting and retaining engaged and motivated employees who are willing and able to contribute to the success of the Company. The Company continuously works towards improving its recruitment, onboarding, engagement, and development process. A comprehensive suite of policies has been produced, and is constantly reviewed and updated, to ensure consistency of operations across the Group.
The Company is committed to equal opportunities for all, regardless of sex, race, disability, sexual orientation, religion / belief, age, colour, trade union membership, nationality or ethnic origin. Disabled persons' applications are always fully considered, bearing in mind the abilities of the applicant concerned. Where a member of staff becomes disabled, every effort is made to ensure their employment with the Company continues and that appropriate training is arranged. It is the policy of the Group that the training, career development and promotion of disabled persons should, as far as possible, be identical to that of other employees.
The Company is committed to equal opportunities for all, regardless of sex, race, disability, sexual orientation, religion / belief, age, colour, trade union membership, nationality or ethnic origin. Disabled persons' applications are always fully considered, bearing in mind the abilities of the applicant concerned. Where a member of staff becomes disabled, every effort is made to ensure their employment with the Company continues and that appropriate training is arranged. It is the policy of the Group that the training, career development and promotion of disabled persons should, as far as possible, be identical to that of other employees.
Most customers visit our stores on a regular basis to make their purchases, so engaging with them is a continuous process. In many cases they have been customers for a number of years so strong bonds have been developed between them and members of staff resulting in feedback being obtained on an ongoing basis.
The Company recognises the importance of engaging with its local communities in a variety of ways. There is a separately constituted charity, The W. Wing Yip & Brothers Foundation, which sits alongside the Group and makes grants to a variety of organisations and individuals representing worthy causes.
This report was approved by the board and signed on its behalf.
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W. WING YIP (LONDON) LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2025
The directors present their report and the financial statements for the year ended 30 September 2025.
The profit for the year, after taxation, amounted to £3,637,000 (2024:£5,893,000).
Dividends of £42,803,000 have been paid during the year (2024: £100,000).
The directors who served during the year were:
See Strategic report.
The Directors consider the greenhouse gas (GHG) emissions, energy consumption, and energy efficiency action at a group level and therefore the below disclosure is on a Group basis. The Group is firmly committed to operating in a green and sustainable manner and takes its responsibilities in these areas extremely seriously.
Wing Yip has implemented several energy-saving projects during the reporting period under review with the aim to improve their overall energy efficiency and reduce their carbon emissions. During the reporting year under review, door heaters have been installed in the Croydon site. These improve energy efficiency by preventing warm indoor air from escaping and cold outdoor air from entering, while also keeping out dust, insects, and fumes. As well as this, the group’s Birmingham site had their gas boilers replaced with water heaters and electric radiators in remaining areas of the building, this completes their project from the previous financial year to replace all gas boilers across the site with alternative means. Also, within the Birmingham site three EV charging stations were installed during August 25.
No “green” electricity tariffs or other market-based instruments were used in the SECR period under review in the form of certified or uncertified carbon offsets. These may be considered in the future. However, the focus in on delivering true emission reduction.
During the year the Group continued its engagement of a third party to audit, review, and recommend energy conservation initiatives. This includes reviewing the Groups property estate with an objective to maximise the use of solar photovoltaic arrays wherever practical.
An internal committee also meets to enact Group wide suggestions on how to reduce energy usage throughout day to day operations.
We have continued to purchase a renewable energy tariff for all half hourly metered electricity supplies, backed by REGO certificates. No other certified or uncertified carbon offsets have been used. These may be considered in the future. However, the focus is on delivering true emission reduction.
The baseline GHG report previously prepared has been continuously updated and reviewed to further understand what will be required to achieve “net zero” in a timescale which reflects the climate crisis.
Wing Yip has implemented several energy-saving projects during the reporting period under review with the aim to improve their overall energy efficiency and reduce their carbon emissions. During the reporting year under review, door heaters have been installed in the Croydon site. These improve energy efficiency by preventing warm indoor air from escaping and cold outdoor air from entering, while also keeping out dust, insects, and fumes. As well as this, the group’s Birmingham site had their gas boilers replaced with water heaters and electric radiators in remaining areas of the building, this completes their project from the previous financial year to replace all gas boilers across the site with alternative means. Also, within the Birmingham site three EV charging stations were installed during August 25.
No “green” electricity tariffs or other market-based instruments were used in the SECR period under review in the form of certified or uncertified carbon offsets. These may be considered in the future. However, the focus in on delivering true emission reduction.
During the year the Group continued its engagement of a third party to audit, review, and recommend energy conservation initiatives. This includes reviewing the Groups property estate with an objective to maximise the use of solar photovoltaic arrays wherever practical.
An internal committee also meets to enact Group wide suggestions on how to reduce energy usage throughout day to day operations.
We have continued to purchase a renewable energy tariff for all half hourly metered electricity supplies, backed by REGO certificates. No other certified or uncertified carbon offsets have been used. These may be considered in the future. However, the focus is on delivering true emission reduction.
The baseline GHG report previously prepared has been continuously updated and reviewed to further understand what will be required to achieve “net zero” in a timescale which reflects the climate crisis.
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W. WING YIP (LONDON) LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
GREENHOUSE GAS EMISSIONS, ENERGY CONSUMPTION AND ENGERY EFFICIENCY ACTION (CONTINUED)
Wing Yip’s Total Energy Consumption (TEC) was 7,179,522 kWh over the SECR reference period 01/10/2024 to 30/09/2025. During the period under review, the group generated Scope 1 265.75 tCO2e, Scope 2 1,059.05 tCO2e and Scope 3 122.59 tCO2e emissions totalling 1,447.39 tonnes of CO2e.
Wing Yips’ emissions intensity ratio for the current SECR reference period was 7.69 tonnes CO2e per £m Sales Revenue, whilst for the previous SECR review period (01/10/2023 to 30/09/2024) their emissions were 9.30 tonnes CO2e per £m Sales Revenue. The group’s total CO2 emissions reduced by circa 15.5% compared to the previous SECR period (01/10/2023 to 30/09/2024), this showcases the organisations commitment to carrying out all business activities in a sustainable manner.
The auditors, Bishop Fleming Audit Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
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W. WING YIP (LONDON) LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 30 SEPTEMBER 2025
The directors are responsible for preparing the Strategic report, the Directors' report 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 for the Company's financial statements and then apply them consistently;
∙make judgments 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 to 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.
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W. WING YIP (LONDON) LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF W. WING YIP (LONDON) LIMITED
We have audited the financial statements of W. Wing Yip (London) Limited (the 'Company') for the year ended 30 September 2025, which comprise the Statement of comprehensive income, the Balance sheet, the Statement of changes in equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
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W. WING YIP (LONDON) LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF W. WING YIP (LONDON) LIMITED (CONTINUED)
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic report or the Directors' report.
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W. WING YIP (LONDON) LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF W. WING YIP (LONDON) LIMITED (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.
We have considered the following:
∙The nature of the industry and sector, control environment and business performance;
∙Results of our enquiries of management and directors in relation to their own identification and assessment of the risks of irregularities within the Company; and,
∙Any matters we identified having obtained and reviewed the Company’s documentation of their policies and procedures relating to: identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance; detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud; the internal controls established to mitigate risks of fraud or noncompliance with laws and regulations.
As a result of these procedures, we have considered the opportunities and incentives that may exist within the organisation for fraud and identified the areas of high risk to be in relation to revenue recognition. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.
We have also obtained an understanding of the legal and regulatory frameworks that the Company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures within the financial statements. The key laws and regulations we considered in this context included the UK Companies Act, Financial Reporting Standard 102 and UK tax legislation. In addition, we considered the provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental for the Company’s ability to operate or avoid a material penalty. These included safeguarding regulations, health and safety regulations; employment legislation; and data protection laws.
Our audit procedures performed to respond to the risks identified included, but were not limited to:
∙Reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;
∙Reviewing the financial statement disclosures and testing to supporting documentation to assess the recognition of revenue;
∙Discussions with management, including consideration of known or suspected instances of non-compliance with laws and regulation and fraud;
∙Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;
∙Reviewing board minutes;
∙Identifying and testing journal entries, evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud; and,
∙Challenging assumptions and judgements made by management in their significant accounting estimates.
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W. WING YIP (LONDON) LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF W. WING YIP (LONDON) LIMITED (CONTINUED)
We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.
Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from an error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it.
Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from an error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Chartered Accountants
Statutory Auditors
55 Colmore Row
B3 2AA
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W. WING YIP (LONDON) LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 SEPTEMBER 2025
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W. WING YIP (LONDON) LIMITED
REGISTERED NUMBER:01338172
BALANCE SHEET
AS AT 30 SEPTEMBER 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 14 to 29 form part of these financial statements.
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W. WING YIP (LONDON) LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2025
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W. WING YIP (LONDON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
W. Wing Yip (London) Limited (the Company) is a private limited company, limited by shares and incorporated in England, United Kingdom. The address of the registered office and registered number are given in the company information of these financial statements.
The places of business are 544 Purley Way, Croydon, London, CR0 4NZ and 395 Edgware Road, Cricklewood, London, NW2 6LN.
The places of business are 544 Purley Way, Croydon, London, CR0 4NZ and 395 Edgware Road, Cricklewood, London, NW2 6LN.
2.ACCOUNTING POLICIES
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
∙the requirements of Section 7 Statement of Cash Flows;
∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d).
This information is included in the consolidated financial statements of W. Wing Yip & Brothers Trading Group Limited as at 30 September 2025 and these financial statements may be obtained from Companies House, Cardiff, CF14 3UZ.
The financial statements have been prepared on a going concern basis.
In assessing the appropriateness of the going concern basis of accounting, the directors have
considered the Company’s financial position, cash flow forecasts and available banking facilities for
a period of at least 12 months from the date of approval of these financial statements.
The directors have prepared forecasts and projections which demonstrate that the Company is
expected to be able to meet its liabilities as they fall due. The Company has sufficient financial
resources, together with secured banking facilities, to enable it to continue in operational existence
for the foreseeable future.
Accordingly, the directors continue to adopt the going concern basis in preparing the financial
statements.
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W. WING YIP (LONDON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
2.ACCOUNTING POLICIES (CONTINUED)
Functional and presentation currency
Transactions and balances
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W. WING YIP (LONDON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
2.ACCOUNTING POLICIES (CONTINUED)
At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.
The Company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the Company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred.
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W. WING YIP (LONDON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
2.ACCOUNTING POLICIES (CONTINUED)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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W. WING YIP (LONDON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
2.ACCOUNTING POLICIES (CONTINUED)
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If the objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If the objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.
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W. WING YIP (LONDON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
Estimates, assumptions and judgements are continually evaluated and are based on historical experience and other factors considered relevant, including expectations of future events that are believed to be reasonable under the circumstances.
In preparing these financial statements, the Directors have made the following judgements:
The whole of the turnover is attributable to the sale of oriental foods and general merchandise.
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W. WING YIP (LONDON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
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W. WING YIP (LONDON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
Page 21
W. WING YIP (LONDON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
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W. WING YIP (LONDON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
12.TAXATION (CONTINUED)
There were no factors that may affect future tax charges.
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W. WING YIP (LONDON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
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W. WING YIP (LONDON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
Page 25
W. WING YIP (LONDON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
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Page 26
W. WING YIP (LONDON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
22.SHARE CAPITAL (CONTINUED)
Profit and loss account
a) The Company is party, together with other group undertakings, to multilateral guarantees given to HSBC Bank Plc. The total balances guaranteed at the balance sheet date amount to £16,304,712 (2024 - £19,004,000).
b) The multilateral guarantees given to HSBC Bank Plc (see above) and the bank loans/overdrafts provided by HSBC Bank Plc are secured on the assets of the company by debentures with fixed and floating charges.
c) As a result of the group registration arrangements for the value added tax (VAT), the Company is jointly and severally liable together with other members of the group, for any VAT due by the representative member of the group. At the balance sheet date the contingent liabilities were £Nil (2024 - £Nil).
b) The multilateral guarantees given to HSBC Bank Plc (see above) and the bank loans/overdrafts provided by HSBC Bank Plc are secured on the assets of the company by debentures with fixed and floating charges.
c) As a result of the group registration arrangements for the value added tax (VAT), the Company is jointly and severally liable together with other members of the group, for any VAT due by the representative member of the group. At the balance sheet date the contingent liabilities were £Nil (2024 - £Nil).
The company operates multiple defined contributions pension schemes. The assets of the schemes are held separately from those of the Company in independently administered funds. The pension cost charge represents contributions payable by the Company to the fund and amounted to £157,000 (2024 - £122,000). Contributions totalling £54,000 (2024 - £53,000) were payable to the fund at the balance sheet date.
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W. WING YIP (LONDON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
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W. WING YIP (LONDON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
The ultimate controlling party is WWY (Holdings) Limited , a company incorporated in England, United Kingdom whose registered office is 375 Nechells Park Road, Nechells, Birmingham, B7 5NT. The smallest group for which Group financial statements are prepared is W. Wing Yip & Brothers Trading Group Limited and the largest group for which Group financial statements are prepared is WWY (Holdings) Limited. Copies of the group financial statements are available to the public from Companies House, Cardiff, CF14 3UZ.
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