Caseware UK (AP4) 2021.0.152 2021.0.152 2021-12-312021-12-31false3No description of principal activityThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2021-01-014truetrue 07279837 2021-01-01 2021-12-31 07279837 2020-01-01 2020-12-31 07279837 2021-12-31 07279837 2020-12-31 07279837 c:Director2 2021-01-01 2021-12-31 07279837 d:CurrentFinancialInstruments 2021-12-31 07279837 d:CurrentFinancialInstruments 2020-12-31 07279837 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 07279837 d:CurrentFinancialInstruments d:WithinOneYear 2020-12-31 07279837 d:ShareCapital 2021-12-31 07279837 d:ShareCapital 2020-12-31 07279837 d:CapitalRedemptionReserve 2021-12-31 07279837 d:CapitalRedemptionReserve 2020-12-31 07279837 c:FRS102 2021-01-01 2021-12-31 07279837 c:Audited 2021-01-01 2021-12-31 07279837 c:FullAccounts 2021-01-01 2021-12-31 07279837 c:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 07279837 c:SmallCompaniesRegimeForAccounts 2021-01-01 2021-12-31 iso4217:GBP xbrli:pure
Registered Number:07279837













ASPIRE PLASTICS LIMITED





DIRECTORS' REPORT AND FINANCIAL STATEMENTS
 
PAGES FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2021











 
ASPIRE PLASTICS LIMITED
REGISTERED NUMBER:07279837


BALANCE SHEET
AS AT 31 DECEMBER 2021

2021
2020
Note
£
£

Fixed assets
  

Investments
 4 
1,006,553
1,006,553

Current assets
  

Debtors: amounts falling due within one year
 5 
37,286
37,286

Cash at bank and in hand
 6 
334
334

  
37,620
37,620

Creditors: amounts falling due within one year
 7 
(1,041,768)
(1,041,768)

Net current liabilities
  
 
 
(1,004,148)
 
 
(1,004,148)

Total assets less current liabilities
  
2,405
2,405

  

Net assets
  
2,405
2,405


Capital and reserves
  

Called up share capital 
  
1,443
1,924

Capital redemption reserve
  
962
481

  
2,405
2,405


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 1 July 2022.




K D Gant
Director


The notes on pages 2 to 4 form part of these financial statements.


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ASPIRE PLASTICS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

1.


General information

Aspire Plastics Limited (the "Company") is a private Company limited by shares and incorporated and domiciled in England and Wales. The address of the registered office is Lady Lane Industrial Estate, Hadleigh, Ipswich, Suffolk IP7 6AZ.
The principal activity of the Company is that of a non-trading holding company.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention and in accordance with Section 1A Small Entities of Financial Reporting Standard 102 ("FRS 102"), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland, the Companies Act 2006 and Financial Reporting Council Abstracts.
The Company is exempt from the preparation of consolidated financial statements on the basis the group it heads qualifies as small.
The Company, being a small entity, is exempt from the requirement to draw up a Statement of Cash Flows in accordance with FRS 102 Section 7.
The following principal accounting policies have been applied:

  
2.2
Investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.3

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.4

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.


- 2 -



 
ASPIRE PLASTICS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.5

Financial instruments

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 objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.

 
2.6

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

  
2.7

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2020 - 4).


4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2021
1,006,553



At 31 December 2021
1,006,553





5.


Debtors

2021
2020
£
£


Amounts owed by group undertakings
37,183
37,183

- 3 -



 
ASPIRE PLASTICS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

5.Debtors (continued)


Other debtors
103
103

37,286
37,286



6.


Cash and cash equivalents

2021
2020
£
£

Cash at bank and in hand
334
334



7.


Creditors: Amounts falling due within one year

2021
2020
£
£

Amounts owed to group undertakings
1,041,768
1,041,768


The amount due from the company to its indirect subsidiary is repayable on demand on the basis that Aspire Plastics Limited would have sufficient available funds to make this payment following the payment of a dividend by its indirect subsidiary which would flow through the group to Aspire Plastics Limited.


8.


Auditor's information

The auditor's report on the financial statements for the year ended 31 December 2021 was unqualified.

The audit report was signed on 4 July 2022 by Mark Smith (Senior Statutory Auditor) on behalf of Scrutton Bland LLP.

 

- 4 -