Caseware UK (AP4) 2022.0.179 2022.0.179 2023-04-302023-04-302022-05-01The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.falseNo description of principal activity98truetrue 04377411 2022-05-01 2023-04-30 04377411 2021-05-01 2022-04-30 04377411 2023-04-30 04377411 2022-04-30 04377411 c:Director1 2022-05-01 2023-04-30 04377411 c:Director2 2022-05-01 2023-04-30 04377411 d:Buildings 2022-05-01 2023-04-30 04377411 d:Buildings 2023-04-30 04377411 d:Buildings 2022-04-30 04377411 d:Buildings d:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 04377411 d:PlantMachinery 2022-05-01 2023-04-30 04377411 d:PlantMachinery 2023-04-30 04377411 d:PlantMachinery 2022-04-30 04377411 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 04377411 d:MotorVehicles 2022-05-01 2023-04-30 04377411 d:MotorVehicles 2023-04-30 04377411 d:MotorVehicles 2022-04-30 04377411 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 04377411 d:FurnitureFittings 2022-05-01 2023-04-30 04377411 d:FurnitureFittings 2023-04-30 04377411 d:FurnitureFittings 2022-04-30 04377411 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 04377411 d:OfficeEquipment 2022-05-01 2023-04-30 04377411 d:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 04377411 d:Goodwill 2023-04-30 04377411 d:Goodwill 2022-04-30 04377411 d:CurrentFinancialInstruments 2023-04-30 04377411 d:CurrentFinancialInstruments 2022-04-30 04377411 d:Non-currentFinancialInstruments 2023-04-30 04377411 d:Non-currentFinancialInstruments 2022-04-30 04377411 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 04377411 d:CurrentFinancialInstruments d:WithinOneYear 2022-04-30 04377411 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 04377411 d:Non-currentFinancialInstruments d:AfterOneYear 2022-04-30 04377411 d:ShareCapital 2023-04-30 04377411 d:ShareCapital 2022-04-30 04377411 d:RetainedEarningsAccumulatedLosses 2023-04-30 04377411 d:RetainedEarningsAccumulatedLosses 2022-04-30 04377411 c:FRS102 2022-05-01 2023-04-30 04377411 c:AuditExempt-NoAccountantsReport 2022-05-01 2023-04-30 04377411 c:FullAccounts 2022-05-01 2023-04-30 04377411 c:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 04377411 2 2022-05-01 2023-04-30 04377411 6 2022-05-01 2023-04-30 iso4217:GBP xbrli:pure

Registered number: 04377411










KOPAK RUBBER AND PLASTICS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2023

 
KOPAK RUBBER AND PLASTICS LIMITED
REGISTERED NUMBER: 04377411

STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
394,552
423,800

Investments
 6 
60,000
64

  
454,552
423,864

Current assets
  

Stocks
  
323,266
303,432

Debtors: amounts falling due within one year
 7 
315,753
315,748

Cash at bank and in hand
 8 
81,555
77,896

  
720,574
697,076

Creditors: amounts falling due within one year
 9 
(554,081)
(524,980)

Net current assets
  
 
 
166,493
 
 
172,096

Total assets less current liabilities
  
621,045
595,960

Creditors: amounts falling due after more than one year
 10 
(159,532)
(200,800)

Provisions for liabilities
  

Other provisions
  
(8,747)
(11,011)

  
 
 
(8,747)
 
 
(11,011)

Net assets
  
452,766
384,149


Capital and reserves
  

Called up share capital 
  
10,000
10,000

Profit and loss account
  
442,766
374,149

  
452,766
384,149


Page 1

 
KOPAK RUBBER AND PLASTICS LIMITED
REGISTERED NUMBER: 04377411
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 APRIL 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 statement of income and retained earnings 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 by: 




................................................
Mr P Estwick
................................................
Mrs J Estwick
Director
Director


Date: 2 November 2023

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
KOPAK RUBBER AND PLASTICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

1.


General information

Kopak Rubber and Plastics Limited is a private company limited by shares incorporated in
England and Wales. The registered office is Moorgate House, 201 Silbury Boulevard, Milton Keynes, Bucks, MK9 1LZ. The trading address is Unit 19, The Cam Centre, Wilbury Way, Hitchin, SG4 0TW.  The Company's functional and presentational currency is GBP. 

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

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue 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 revenue is recognised:

Sale of goods

Revenue 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 revenue 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

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

Page 3

 
KOPAK RUBBER AND PLASTICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

2.Accounting policies (continued)

 
2.5

Interest income

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

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

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 Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

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 reporting date in the countries where the Company operates and generates income.

 
2.10

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.

 
2.11

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

 
KOPAK RUBBER AND PLASTICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

2.Accounting policies (continued)


2.11
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
2%
straight line
Plant and machinery
-
33%
straight line
Motor vehicles
-
20%
straight line
Fixtures and fittings
-
20%
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.

 
2.12

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.13

Associates and joint ventures

Associates and Joint Ventures are held at cost less impairment.

 
2.14

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is 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.

 
2.15

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.

 
2.16

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.

Page 5

 
KOPAK RUBBER AND PLASTICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

2.Accounting policies (continued)

 
2.17

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.

 
2.18

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 and liabilities are offset and the net amount reported in the Statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.19

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 9 (2022 - 8).

Page 6

 
KOPAK RUBBER AND PLASTICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

4.


Intangible assets




Goodwill

£



Cost


At 1 May 2022
10,000



At 30 April 2023

10,000



Amortisation


At 1 May 2022
10,000



At 30 April 2023

10,000



Net book value



At 30 April 2023
-



At 30 April 2022
-



Page 7

 
KOPAK RUBBER AND PLASTICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

5.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£
£



Cost


At 1 May 2022
364,345
7,192
112,693
41,778
526,008


Additions
-
-
-
935
935



At 30 April 2023

364,345
7,192
112,693
42,713
526,943



Depreciation


At 1 May 2022
15,740
7,092
41,384
37,992
102,208


Charge for the year on owned assets
5,246
38
22,539
2,360
30,183



At 30 April 2023

20,986
7,130
63,923
40,352
132,391



Net book value



At 30 April 2023
343,359
62
48,770
2,361
394,552



At 30 April 2022
348,605
100
71,309
3,786
423,800


6.


Fixed asset investments





Investments in subsidiary companies
Investments in associates
Total

£
£
£



Cost or valuation


At 1 May 2022
-
64
64


Additions
60,000
-
60,000


Disposals
-
(64)
(64)



At 30 April 2023
60,000
-
60,000




Page 8

 
KOPAK RUBBER AND PLASTICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

7.


Debtors

2023
2022
£
£


Trade debtors
300,681
302,739

Prepayments and accrued income
15,072
13,009

315,753
315,748



8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
81,555
77,896

81,555
77,896



9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
34,350
34,714

Trade creditors
142,493
129,102

Corporation tax
60,246
57,003

Other taxation and social security
76,304
72,228

Obligations under finance lease and hire purchase contracts
7,258
29,460

Other creditors
227,950
197,097

Accruals and deferred income
5,480
5,376

554,081
524,980


The company has a factoring agreement with The Royal Bank of Scotland.  The amount is secured.  The hire purchase is secured over the asset concerned.
National Westminster Bank Plc has a fixed charge over the property at Unit 19, The Cam Centre, Wilbury Way, Hitchin, SG4 0TW.

Page 9

 
KOPAK RUBBER AND PLASTICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

10.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
159,532
193,542

Net obligations under finance leases and hire purchase contracts
-
7,258

159,532
200,800



11.


Pension commitments

The company had a pension liability of £865 (2022: £825) at the year end.


12.Other financial commitments

Total financial commitments, guarantees and contingencies which are not included in the statement of financial position amount to £15,453 (2022: £2,067).

 
Page 10