IRIS Accounts Production v23.3.0.418 04860097 director 1.10.22 30.9.23 30.9.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh048600972022-09-30048600972023-09-30048600972022-10-012023-09-30048600972021-09-30048600972021-10-012022-09-30048600972022-09-3004860097ns10:Originalns15:EnglandWales2022-10-012023-09-3004860097ns14:PoundSterlingns10:Original2022-10-012023-09-3004860097ns10:Originalns10:Director12022-10-012023-09-3004860097ns10:Original2022-10-012023-09-3004860097ns10:Original2023-09-3004860097ns10:Originalns10:PrivateLimitedCompanyLtd2022-10-012023-09-3004860097ns10:Originalns10:SmallEntities2022-10-012023-09-3004860097ns10:Originalns10:AuditExempt-NoAccountantsReport2022-10-012023-09-3004860097ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-10-012023-09-3004860097ns10:SmallCompaniesRegimeForAccountsns10:Original2022-10-012023-09-3004860097ns10:Originalns10:FullAccounts2022-10-012023-09-3004860097ns10:Originalns10:RegisteredOffice2022-10-012023-09-3004860097ns10:Original2022-09-3004860097ns10:Originalns5:CurrentFinancialInstruments2023-09-3004860097ns10:Originalns5:CurrentFinancialInstruments2022-09-3004860097ns10:Originalns5:Non-currentFinancialInstruments2023-09-3004860097ns10:Originalns5:Non-currentFinancialInstruments2022-09-3004860097ns5:ShareCapitalns10:Original2023-09-3004860097ns5:ShareCapitalns10:Original2022-09-3004860097ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-09-3004860097ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-09-3004860097ns10:Originalns5:OwnedOrFreeholdAssetsns5:LandBuildings2022-10-012023-09-3004860097ns10:Originalns5:PlantMachinery2022-10-012023-09-3004860097ns10:Originalns5:FurnitureFittings2022-10-012023-09-3004860097ns10:Originalns5:MotorVehicles2022-10-012023-09-3004860097ns10:Originalns5:ComputerEquipment2022-10-012023-09-3004860097ns10:Original2021-10-012022-09-3004860097ns10:Originalns5:LandBuildings2022-09-3004860097ns10:Originalns5:PlantMachinery2022-09-3004860097ns10:Originalns5:FurnitureFittings2022-09-3004860097ns10:Originalns5:LandBuildings2022-10-012023-09-3004860097ns10:Originalns5:LandBuildings2023-09-3004860097ns10:Originalns5:PlantMachinery2023-09-3004860097ns10:Originalns5:FurnitureFittings2023-09-3004860097ns10:Originalns5:LandBuildings2022-09-3004860097ns10:Originalns5:PlantMachinery2022-09-3004860097ns10:Originalns5:FurnitureFittings2022-09-3004860097ns10:Originalns5:MotorVehicles2022-09-3004860097ns10:Originalns5:ComputerEquipment2022-09-3004860097ns10:Original2022-09-3004860097ns10:Originalns5:MotorVehicles2023-09-3004860097ns10:Originalns5:ComputerEquipment2023-09-3004860097ns10:Originalns5:MotorVehicles2022-09-3004860097ns10:Originalns5:ComputerEquipment2022-09-3004860097ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-09-3004860097ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-09-3004860097ns5:Securedns10:Original2023-09-3004860097ns5:Securedns10:Original2022-09-30
REGISTERED NUMBER: 04860097 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2023

for

Plastic Parts Direct Limited

Plastic Parts Direct Limited (Registered number: 04860097)






Contents of the Financial Statements
for the Year Ended 30 September 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Plastic Parts Direct Limited

Company Information
for the Year Ended 30 September 2023







DIRECTOR: J Bowes





REGISTERED OFFICE: 10 Manor Park
Banbury
Oxfordshire
OX16 3TB





REGISTERED NUMBER: 04860097 (England and Wales)





ACCOUNTANTS: Handleys Chartered Accountants
10 Manor Park
Banbury
Oxfordshire
OX16 3TB

Plastic Parts Direct Limited (Registered number: 04860097)

Balance Sheet
30 September 2023

30.9.23 30.9.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 796,865 731,363

CURRENT ASSETS
Stocks 77,358 94,943
Debtors 5 424,683 357,912
Cash at bank 83,737 71,106
585,778 523,961
CREDITORS
Amounts falling due within one year 6 271,730 267,193
NET CURRENT ASSETS 314,048 256,768
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,110,913

988,131

CREDITORS
Amounts falling due after more than
one year

7

(264,945

)

(280,881

)

PROVISIONS FOR LIABILITIES (66,341 ) (71,061 )
NET ASSETS 779,627 636,189

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 779,527 636,089
SHAREHOLDERS' FUNDS 779,627 636,189

Plastic Parts Direct Limited (Registered number: 04860097)

Balance Sheet - continued
30 September 2023


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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 14 December 2023 and were signed by:





J Bowes - Director


Plastic Parts Direct Limited (Registered number: 04860097)

Notes to the Financial Statements
for the Year Ended 30 September 2023

1. STATUTORY INFORMATION

Plastic Parts Direct 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.

Revenue recognition
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of value added tax and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. For sales of goods, the turnover is shown net of distribution and carriage charges.

Revenue from sale of goods is recognised when significant risks and rewards of ownership have been transferred to the buyer, when the amount of revenue can be measured reliably, when it is probable that the economic benefits associated with the transaction will flow to the entity and when the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from sale of services is recognised when the stage of completion of the transaction can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - In accordance with the property
Plant and machinery - 25% on reducing balance and 10% on cost
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Tooling - 15% on reducing balance

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

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit and loss. Reversals of impairment losses are also recognised in profit and loss.


Plastic Parts Direct Limited (Registered number: 04860097)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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
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 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 15 ) .

Plastic Parts Direct Limited (Registered number: 04860097)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 October 2022 415,605 906,033 18,793
Additions - 146,039 -
At 30 September 2023 415,605 1,052,072 18,793
DEPRECIATION
At 1 October 2022 63,300 575,993 12,442
Charge for year 8,312 95,093 953
At 30 September 2023 71,612 671,086 13,395
NET BOOK VALUE
At 30 September 2023 343,993 380,986 5,398
At 30 September 2022 352,305 330,040 6,351

Motor
vehicles Tooling Totals
£    £    £   
COST
At 1 October 2022 59,086 146,536 1,546,053
Additions 56,572 - 202,611
At 30 September 2023 115,658 146,536 1,748,664
DEPRECIATION
At 1 October 2022 38,963 123,992 814,690
Charge for year 19,173 13,578 137,109
At 30 September 2023 58,136 137,570 951,799
NET BOOK VALUE
At 30 September 2023 57,522 8,966 796,865
At 30 September 2022 20,123 22,544 731,363

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Trade debtors 271,381 205,449
Other debtors 153,302 152,463
424,683 357,912

Plastic Parts Direct Limited (Registered number: 04860097)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Bank loans and overdrafts 42,914 42,914
Hire purchase contracts 7,483 6,915
Trade creditors 164,413 112,483
Taxation and social security 29,698 38,663
Other creditors 27,222 66,218
271,730 267,193

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30.9.23 30.9.22
£    £   
Bank loans 240,001 280,881
Hire purchase contracts 24,944 -
264,945 280,881

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 129,991 143,471

8. SECURED DEBTS

The following secured debts are included within creditors:

30.9.23 30.9.22
£    £   
Bank loans 282,915 323,795
Hire purchase contracts 32,427 6,915
315,342 330,710