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Registration number: NI019936

Wilkinson Plastermould Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2021

 

Wilkinson Plastermould Limited

(Registration number: NI019936)
Balance Sheet as at 31 December 2021

Note

2021
£

2020
£

Fixed assets

 

Tangible assets

4

3,256

4,741

Current assets

 

Stocks

5

2,000

1,250

Debtors

6

15,673

6,858

Cash at bank and in hand

 

41,528

14,099

 

59,201

22,207

Creditors: Amounts falling due within one year

7

(14,490)

(6,989)

Net current assets

 

44,711

15,218

Total assets less current liabilities

 

47,967

19,959

Creditors: Amounts falling due after more than one year

7

(24,143)

-

Net assets

 

23,824

19,959

Capital and reserves

 

Called up share capital

8

15,000

15,000

Retained earnings

8,824

4,959

Shareholders' funds

 

23,824

19,959

 

Wilkinson Plastermould Limited

(Registration number: NI019936)
Balance Sheet as at 31 December 2021

For the financial year ending 31 December 2021 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 31 August 2022 and signed on its behalf by:
 

.........................................
Mr David Manson
Director

 

Wilkinson Plastermould Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is:
Unit 5
53A Loan Road
Cullybackey
Ballymena
BT42 1PS

These financial statements were authorised for issue by the Board on 31 August 2022.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% reducing balance

Office equipment

20% straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Wilkinson Plastermould Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2020 - 6).

 

Wilkinson Plastermould Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 January 2021

8,237

14,900

113,793

136,930

At 31 December 2021

8,237

14,900

113,793

136,930

Depreciation

At 1 January 2021

7,032

11,364

113,793

132,189

Charge for the year

601

884

-

1,485

At 31 December 2021

7,633

12,248

113,793

133,674

Carrying amount

At 31 December 2021

604

2,652

-

3,256

At 31 December 2020

1,205

3,536

-

4,741

5

Stocks

2021
£

2020
£

Other inventories

2,000

1,250

6

Debtors

Current

2021
£

2020
£

Trade debtors

14,599

6,506

Other debtors

1,074

352

 

15,673

6,858

 

Wilkinson Plastermould Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

7

Creditors

Creditors: amounts falling due within one year

Note

2021
£

2020
£

Due within one year

 

Loans and borrowings

9

5,857

-

Amounts owed to directors

10

3,081

2,270

Taxation and social security

 

2,469

2,364

Other creditors

 

3,083

2,355

 

14,490

6,989

8

Share capital

Allotted, called up and fully paid shares

 

2021

2020

 

No.

£

No.

£

Ordinary share of £1 each

15,000

15,000

15,000

15,000

         

9

Loans and borrowings

2021
£

2020
£

Non-current loans and borrowings

Bank borrowings

24,143

-

2021
£

2020
£

Current loans and borrowings

Bank borrowings

5,857

-

 

Wilkinson Plastermould Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

10

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

2021
£

2020
£

Remuneration

53,900

52,360

Contributions paid to money purchase schemes

1,236

1,199

55,136

53,559