Caseware UK (AP4) 2022.0.179 2022.0.179 2023-08-312023-08-31truetrueNo description of principal activity2022-09-01false44The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 06342190 2022-09-01 2023-08-31 06342190 2021-09-01 2022-08-31 06342190 2023-08-31 06342190 2022-08-31 06342190 c:Director4 2022-09-01 2023-08-31 06342190 d:FurnitureFittings 2022-09-01 2023-08-31 06342190 d:FurnitureFittings 2023-08-31 06342190 d:FurnitureFittings 2022-08-31 06342190 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 06342190 d:Goodwill 2022-09-01 2023-08-31 06342190 d:Goodwill 2023-08-31 06342190 d:Goodwill 2022-08-31 06342190 d:CurrentFinancialInstruments 2023-08-31 06342190 d:CurrentFinancialInstruments 2022-08-31 06342190 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 06342190 d:CurrentFinancialInstruments d:WithinOneYear 2022-08-31 06342190 d:ShareCapital 2023-08-31 06342190 d:ShareCapital 2022-08-31 06342190 d:RetainedEarningsAccumulatedLosses 2023-08-31 06342190 d:RetainedEarningsAccumulatedLosses 2022-08-31 06342190 c:FRS102 2022-09-01 2023-08-31 06342190 c:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 06342190 c:FullAccounts 2022-09-01 2023-08-31 06342190 c:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 06342190 2 2022-09-01 2023-08-31 06342190 d:Goodwill d:OwnedIntangibleAssets 2022-09-01 2023-08-31 iso4217:GBP xbrli:pure
Registered number: 06342190









VETROPLAS PACKAGING LIMITED

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2023

 
VETROPLAS PACKAGING LIMITED
REGISTERED NUMBER: 06342190

BALANCE SHEET
AS AT 31 AUGUST 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
-
3,000

Tangible assets
 5 
2,319
4,434

  
2,319
7,434

Current assets
  

Debtors: amounts falling due within one year
 6 
780,104
443,579

Cash at bank and in hand
 7 
1,177,345
2,452,783

  
1,957,449
2,896,362

Creditors: amounts falling due within one year
 8 
(1,108,384)
(1,807,862)

Net current assets
  
 
 
849,065
 
 
1,088,500

Total assets less current liabilities
  
851,384
1,095,934

  

Net assets
  
851,384
1,095,934


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
851,284
1,095,834

  
851,384
1,095,934


Page 1

 
VETROPLAS PACKAGING LIMITED
REGISTERED NUMBER: 06342190

BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 profit and loss account 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 24 October 2023.




G Herrmann
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
VETROPLAS PACKAGING LIMITED
 

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

1.


General information

Vetroplas Packaging Limited is a private company limited by shares, incorporated in England and Wales, with a company registration number of 06342190. The address of the registered office is Anglia House, 6 Central Avenue, St Andrews Business Park, Thorpe St Andrew, Norwich, Norfolk, NR7 0HR.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
VETROPLAS PACKAGING LIMITED
 

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

2.Accounting policies (continued)

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.7

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Profit and Loss Account over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
VETROPLAS PACKAGING LIMITED
 

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

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Fixtures, fittings and office equipment
-
25% straight Line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.10

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.

 
2.11

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.

 
2.12

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

 
2.13

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.

Page 5

 
VETROPLAS PACKAGING LIMITED
 

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

3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2022 - 4).


4.


Intangible assets




Goodwill

£



Cost


At 1 September 2022
60,000



At 31 August 2023

60,000



Amortisation


At 1 September 2022
57,000


Charge for the year on owned assets
3,000



At 31 August 2023

60,000



Net book value



At 31 August 2023
-



At 31 August 2022
3,000



Page 6

 
VETROPLAS PACKAGING LIMITED
 

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

5.


Tangible fixed assets





Fixtures, fittings and office equipment

£



Cost or valuation


At 1 September 2022
14,526



At 31 August 2023

14,526



Depreciation


At 1 September 2022
10,092


Charge for the year on owned assets
2,115



At 31 August 2023

12,207



Net book value



At 31 August 2023
2,319



At 31 August 2022
4,434


6.


Debtors

2023
2022
£
£


Trade debtors
748,489
437,841

Prepayments
31,615
5,738

780,104
443,579



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
1,177,345
2,452,783


Page 7

 
VETROPLAS PACKAGING LIMITED
 

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

8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
818,879
1,123,467

Corporation tax
173,031
290,203

Other taxation and social security
111,131
388,642

Accruals
5,343
5,550

1,108,384
1,807,862



9.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £2,298 (2022 - £2,300). No contributions (2022 - £nil) were payable to the fund at the balance sheet date


Page 8