Wyepak (Holdings) Limited
Wyepak (Holdings) Limited
Registered number: 12585811
Unaudited Financial Statements
For the Period
5 May 2020
to
30 September 2021
Wyepak (Holdings) Limited
Unaudited Financial Statements
For the Period
5 May 2020
to
30 September 2021
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1 |
| Notes to the Financial Statements | 2—3 |
Wyepak (Holdings) Limited
Balance Sheet
As at
30 September 2021
Balance Sheet
Registered number:
12585811
For the period ending 30 September 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
| 30 September 2021 | |||
|---|---|---|---|
| Notes | £ | £ | |
| CURRENT ASSETS | |||
| Debtors | 3 |
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| Investments | 4 |
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| Creditors: Amounts Falling Due Within One Year | 5 |
( |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | 6 |
( |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||
| Called up share capital | 7 |
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| Other reserves |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 897,172 | ||
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
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Director
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The notes on pages 2 to 3 form part of these financial statements.
Wyepak (Holdings) Limited
Notes to the Financial Statements
For the Period
5 May 2020
to
30 September 2021
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Pensions
For a defined benefit scheme, the liability recorded in the balance sheet is the present balue of the defined obligation at that date. The defined benefit obligation is calculated on an annual basis by independent actuaries.
Actuarial gains and losses are recognised in full in the period in which they occur and are shown in Other Comprehensive Income.
Current and past service costs, along with settlements or curtailments, are charged to the Income Statement. Interest on pension plan liabilities are recognised within finance expense.
Employer Pension Obligations
The Company has agreed to fund a defined benefit pension scheme in respect of key group employees. The most recent actuarial valuation on the obligations of £4,179,000 was on 30/09/2021. During the year the expense incurred was £61,000.
The principal assumptions are:
- Discount rate - 1.9%
- Inflation RPI - 3.6%
- Inflation CPI - 2.8%
- Pre and Post Retirement mortality - S3PMA tables with improvements in the CMI 2020 model and a long term rate of improvement of 1%
2021
Present value of defined benefit obligation £4,179,000
Fair value of scheme assets £0
Liability recognised in the balance sheet £4,179,000
Movements in the present value of the defined benefit obligations were as follows:
2021
At the beginning of the year £Nil
Transferred from individuals £3,989,000
Transferred from Wyepak Limited £375,000
Interest cost £61,000
Actuarial gains (£246,000)
At the end of the year £4,179,000
2.
Average Number of Employees
Average number of employees, including directors, during the year was as follows: 2
3.
Debtors
| 30 September 2021 | |
|---|---|
| £ | |
| Due within one year | |
| Other debtors |
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| Intercompany account |
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| Directors' loan accounts |
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Wyepak (Holdings) Limited
Notes to the Financial Statements (continued)
For the Period
5 May 2020
to
30 September 2021
4.
Current Asset Investments
| 30 September 2021 | |
|---|---|
| £ | |
| Shares in subsidiaries |
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5.
Creditors: Amounts Falling Due Within One Year
| 30 September 2021 | |
|---|---|
| £ | |
| Accruals and deferred income |
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6.
Creditors: Amounts Falling Due After More Than One Year
| 30 September 2021 | |
|---|---|
| £ | |
| Long-term pension liabilities |
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8.
Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
| As at
|
Amounts advanced | Amounts repaid | Amounts written off | As at
|
|
|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | |
| Mr James Cooper |
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- |
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| Mr Mark Tooth |
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- |
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The above loan is unsecured, repayable on demand and interest is charged at HMRC's Official Rate of Interest.
9.
General Information
Wyepak (Holdings) Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
12585811
. The registered office is St Ann's Quay, 118 Quayside, Newcastle Upon Tyne, NE1 3BD.