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REGISTERED NUMBER: 11886688 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

CORNWALL PLASTIC RECYCLING LTD

CORNWALL PLASTIC RECYCLING LTD (REGISTERED NUMBER: 11886688)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CORNWALL PLASTIC RECYCLING LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: A J Pengelly





REGISTERED OFFICE: Pope House, Polpry
Blisland
BODMIN
Cornwall
PL30 4LA





REGISTERED NUMBER: 11886688 (England and Wales)





ACCOUNTANT: Catherine Bennett Ltd
Chartered Accountant
Wheal Harmony House
Solomon Road
Redruth
Cornwall
TR15 1FD

CORNWALL PLASTIC RECYCLING LTD (REGISTERED NUMBER: 11886688)

BALANCE SHEET
31 MARCH 2023

31/3/23 31/3/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,100 3,995

CURRENT ASSETS
Debtors 5 2,405 2,977
Cash at bank and in hand 6,567 13,675
8,972 16,652
CREDITORS
Amounts falling due within one year 6 6,673 7,504
NET CURRENT ASSETS 2,299 9,148
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,399

13,143

CREDITORS
Amounts falling due after more than one
year

7

(8,667

)

(12,667

)

PROVISIONS FOR LIABILITIES (359 ) (759 )
NET LIABILITIES (4,627 ) (283 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (4,727 ) (383 )
SHAREHOLDERS' FUNDS (4,627 ) (283 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

CORNWALL PLASTIC RECYCLING LTD (REGISTERED NUMBER: 11886688)

BALANCE SHEET - continued
31 MARCH 2023


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 director and authorised for issue on 21 October 2023 and were signed by:





A J Pengelly - Director


CORNWALL PLASTIC RECYCLING LTD (REGISTERED NUMBER: 11886688)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Cornwall Plastic Recycling Ltd 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.

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.
Plant and machinery - 20% on cost
Motor vehicles - 25% on cost

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Going concern
The company has net liabilities and is reliant upon the continued support of its director.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

CORNWALL PLASTIC RECYCLING LTD (REGISTERED NUMBER: 11886688)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2022 9,200 500 9,700
Additions 250 - 250
Disposals (200 ) - (200 )
At 31 March 2023 9,250 500 9,750
DEPRECIATION
At 1 April 2022 5,455 250 5,705
Charge for year 1,900 125 2,025
Eliminated on disposal (80 ) - (80 )
At 31 March 2023 7,275 375 7,650
NET BOOK VALUE
At 31 March 2023 1,975 125 2,100
At 31 March 2022 3,745 250 3,995

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 31/3/22
£    £   
Trade debtors 135 1,236
Directors' current accounts 1,650 1,152
Prepayments 620 589
2,405 2,977

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 31/3/22
£    £   
Other loans 4,000 4,000
Tax - 56
Social security and other taxes 541 794
VAT 531 1,111
Other creditors 392 389
Accrued expenses 1,209 1,154
6,673 7,504

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/3/23 31/3/22
£    £   
Other loans - 1-2 years 4,000 4,000
Other loans - 2-5 years 4,667 8,667
8,667 12,667

CORNWALL PLASTIC RECYCLING LTD (REGISTERED NUMBER: 11886688)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

31/3/23 31/3/22
£    £   
A J Pengelly
Balance outstanding at start of year 1,152 7,698
Amounts advanced 2,926 12,026
Amounts repaid (2,428 ) (18,572 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,650 1,152