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REGISTERED NUMBER: 00790770 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023

FOR

G. S. W. PLASTICS LIMITED

G. S. W. PLASTICS LIMITED (REGISTERED NUMBER: 00790770)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 30 June 2023




Page

Company Information 1

Chartered Certified Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


G. S. W. PLASTICS LIMITED

COMPANY INFORMATION
For The Year Ended 30 June 2023







DIRECTORS: Mrs A S Reynolds
Mr K R Gandy



SECRETARY: Mrs A S Reynolds



REGISTERED OFFICE: Unit 1, Park Mill
Manchester Road
Mossley
Greater Manchester
OL5 9BQ



REGISTERED NUMBER: 00790770 (England and Wales)



ACCOUNTANTS: Oldham and Company
Chartered Certified Accountants
3 The Oaks
Hyde
Cheshire
SK14 3SD



SOLICITORS: Pearson Hinchcliffe LLP
Hollinwood Business Centre
Albert Street
Hollinwood
Greater Manchester
OL8 3QL

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
G. S. W. PLASTICS LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of G. S. W. Plastics Limited for the year ended 30 June 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of G. S. W. Plastics Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of G. S. W. Plastics Limited and state those matters that we have agreed to state to the Board of Directors of G. S. W. Plastics Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that G. S. W. Plastics Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of G. S. W. Plastics Limited. You consider that G. S. W. Plastics Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of G. S. W. Plastics Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Oldham and Company
Chartered Certified Accountants
3 The Oaks
Hyde
Cheshire
SK14 3SD


8 September 2023

G. S. W. PLASTICS LIMITED (REGISTERED NUMBER: 00790770)

BALANCE SHEET
30 June 2023

30/6/23 30/6/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 425,133 388,025

CURRENT ASSETS
Stocks 22,250 21,725
Debtors 5 61,501 93,717
Cash at bank and in hand 99,547 116,858
183,298 232,300
CREDITORS
Amounts falling due within one year 6 146,046 162,154
NET CURRENT ASSETS 37,252 70,146
TOTAL ASSETS LESS CURRENT
LIABILITIES

462,385

458,171

CREDITORS
Amounts falling due after more than
one year

7

(34,533

)

(39,817

)

PROVISIONS FOR LIABILITIES (72,892 ) (65,657 )
NET ASSETS 354,960 352,697

G. S. W. PLASTICS LIMITED (REGISTERED NUMBER: 00790770)

BALANCE SHEET - continued
30 June 2023

30/6/23 30/6/22
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 666 666
Revaluation reserve 8 246,538 253,209
Capital redemption reserve (118,666 ) (118,666 )
Retained earnings 226,422 217,488
SHAREHOLDERS' FUNDS 354,960 352,697

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 September 2023 and were signed on its behalf by:




Mrs A S Reynolds - Director



Mr K R Gandy - Director


G. S. W. PLASTICS LIMITED (REGISTERED NUMBER: 00790770)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 30 June 2023

1. STATUTORY INFORMATION

G. S. W. Plastics Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 25% on cost and 10% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

G. S. W. PLASTICS LIMITED (REGISTERED NUMBER: 00790770)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 June 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 7 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 July 2022 350,000 201,356 551,356
Additions - 75,407 75,407
Disposals - (28,391 ) (28,391 )
At 30 June 2023 350,000 248,372 598,372
DEPRECIATION
At 1 July 2022 21,000 142,331 163,331
Charge for year 7,000 31,262 38,262
Eliminated on disposal - (28,354 ) (28,354 )
At 30 June 2023 28,000 145,239 173,239
NET BOOK VALUE
At 30 June 2023 322,000 103,133 425,133
At 30 June 2022 329,000 59,025 388,025

G. S. W. PLASTICS LIMITED (REGISTERED NUMBER: 00790770)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 June 2023

4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 30 June 2023 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 1991 101,548 - 101,548
Valuation in 2020 215,521 - 215,521
Cost 32,931 248,372 281,303
350,000 248,372 598,372

If land and buildings had not been revalued they would have been included at the following historical cost:

30/6/23 30/6/22
£    £   
Cost 32,931 32,931
Aggregate depreciation 15,191 14,532

Value of land in freehold land and buildings 17,740 18,399

Land and buildings were valued on an open market basis on 23 March 2020 by Ryder & Dutton, Chartered Surveyors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/6/23 30/6/22
£    £   
Trade debtors 52,754 88,872
Other debtors 8,747 4,845
61,501 93,717

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/6/23 30/6/22
£    £   
Bank loans and overdrafts 5,285 5,155
Trade creditors 68,875 105,826
Taxation and social security 18,220 20,875
Other creditors 53,666 30,298
146,046 162,154

G. S. W. PLASTICS LIMITED (REGISTERED NUMBER: 00790770)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 June 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30/6/23 30/6/22
£    £   
Bank loans 34,533 39,817

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 12,021 17,861

8. RESERVES
Revaluation
reserve
£   
At 1 July 2022 253,209
Movement (6,671 )

At 30 June 2023 246,538

9. CAPITAL COMMITMENTS
30/6/23 30/6/22
£    £   
Contracted but not provided for in the
financial statements - 70,750

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 June 2023 and 30 June 2022:

30/6/23 30/6/22
£    £   
Mrs A S Reynolds and Mr K R Gandy
Balance outstanding at start of year - -
Amounts advanced - 5,682
Amounts repaid - (5,682 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

G. S. W. PLASTICS LIMITED (REGISTERED NUMBER: 00790770)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 June 2023

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

The company rented various industrial units at the Park Mill trading estate situated on Manchester Road Mossley which are owned by it's directors' and a former director. The properties have a rental cost of £38,000 per annum (2022, £32,000 per annum) and are operated under normal commercial terms on a full tenant repairing basis. At the balance sheet date there was no amount outstanding (2022, £nil).