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Registered Number: 07195936
England and Wales

 

 

 

PLASTIC EXPERT LTD.


Unaudited Financial Statements
 


Period of accounts

Start date: 01 April 2022

End date: 31 March 2023
Directors Kevin Philip Basham
Russell Clive Greig-Bartram
Ryan Knight
Registered Number 07195936
Registered Office Victory House Business Park
400 Pavilion Drive
Northampton
England
NN4 7PA
1
Director's report and financial statements
The directors present his/her/their annual report and the financial statements for the year ended 31 March 2023.
Principal activities
Principal activity of the company during the financial year was of recycling materials.
Directors
The directors who served the company throughout the year were as follows:
Kevin Philip Basham
Russell Clive Greig-Bartram
Ryan Knight

This report was approved by the board and signed on its behalf by:


----------------------------------
Kevin Philip Basham
Director

Date approved: 13 October 2023
2
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 139    2,957 
139    2,957 
Current assets      
Debtors 4 281,699    218,322 
Cash at bank and in hand 4,175    10,050 
285,874    228,372 
Creditors: amount falling due within one year 5 (237,491)   (161,137)
Net current assets 48,383    67,235 
 
Total assets less current liabilities 48,522    70,192 
Creditors: amount falling due after more than one year 6 (48,394)   (68,118)
Accruals and deferred income   (1,459)
Provisions for liabilities 7 (27)   (514)
Net assets 101    101 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 1    1 
Shareholder's funds 101    101 
 


For the year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 13 October 2023 and were signed on its behalf by:


-------------------------------
Kevin Philip Basham
Director
3
General Information
Plastic Expert Ltd. is a private company, limited by shares, registered in England and Wales, registration number 07195936, registration address Victory House Business Park, 400 Pavilion Drive, Northampton, England, NN4 7PA.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102.1A The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
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.
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.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.

Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.

Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and machinery - 25% reducing balance
Fixtures and fittings - 25% reducing balance
Plant and Machinery 25% Reducing Balance
2.

Average number of employees


Average number of employees during the year was 1 (2022 : 3).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £
At 01 April 2022 13,434    2,420    8,936    24,790 
Additions      
Disposals      
At 31 March 2023 13,434    2,420    8,936    24,790 
Depreciation
At 01 April 2022 11,036    1,861    8,936    21,833 
Charge for year 2,398    420      2,818 
On disposals      
At 31 March 2023 13,434    2,281    8,936    24,651 
Net book values
Closing balance as at 31 March 2023   139      139 
Opening balance as at 01 April 2022 2,398    559      2,957 


4.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 49,895    30,859 
Other Debtors 5,700    5,700 
Taxation recoverable 54,979    48,837 
Directors' Current Accounts 171,125    132,926 
281,699    218,322 

5.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 99,568    36,615 
Bank Loans & Overdrafts 19,725    18,077 
Social Security and Other Taxes 74,438    64,549 
Accrued Expenses 1,811   
Other Creditors 41,949    41,896 
237,491    161,137 

6.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts - 1-2 years 21,374    19,725 
Bank Loans & Overdrafts - 2-5 years 27,020    48,393 
48,394    68,118 

7.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax 27    514 
27    514 

4