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REGISTERED NUMBER: 03935890 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2023

for

Banbury Plastic Fittings Limited

Banbury Plastic Fittings Limited (Registered number: 03935890)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Banbury Plastic Fittings Limited

Company Information
for the Year Ended 30 June 2023







DIRECTORS: J Kidd
J Stead





REGISTERED OFFICE: Unit 10, Alkerton Oaks Business Park
Upton Estate
Banbury
Oxfordshire
OX15 6EP





REGISTERED NUMBER: 03935890 (England and Wales)





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

Banbury Plastic Fittings Limited (Registered number: 03935890)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 10,566 14,234
Investments 5 100 100
10,666 14,334

CURRENT ASSETS
Stocks 395,528 375,758
Debtors 6 222,260 188,753
Cash at bank and in hand 33,276 89,861
651,064 654,372
CREDITORS
Amounts falling due within one year 7 351,175 280,347
NET CURRENT ASSETS 299,889 374,025
TOTAL ASSETS LESS CURRENT
LIABILITIES

310,555

388,359

CREDITORS
Amounts falling due after more than
one year

8

(36,667

)

(56,667

)

PROVISIONS FOR LIABILITIES (2,642 ) (2,704 )
NET ASSETS 271,246 328,988

CAPITAL AND RESERVES
Called up share capital 24,928 24,928
Capital redemption reserve 23,377 23,377
Retained earnings 222,941 280,683
271,246 328,988

Banbury Plastic Fittings Limited (Registered number: 03935890)

Balance Sheet - continued
30 June 2023


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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 4 December 2023 and were signed on its behalf by:




J Kidd - Director



J Stead - Director


Banbury Plastic Fittings Limited (Registered number: 03935890)

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

1. STATUTORY INFORMATION

Banbury Plastic Fittings 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.

Turnover
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.
Plant and machinery etc - 33% on reducing balance, 25% on reducing balance and 15% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.


Banbury Plastic Fittings Limited (Registered number: 03935890)

Notes to the Financial Statements - continued
for the Year Ended 30 June 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.

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 15 (2022 - 16 ) .

Banbury Plastic Fittings Limited (Registered number: 03935890)

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2022 169,409
Additions 525
At 30 June 2023 169,934
DEPRECIATION
At 1 July 2022 155,175
Charge for year 4,193
At 30 June 2023 159,368
NET BOOK VALUE
At 30 June 2023 10,566
At 30 June 2022 14,234

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 July 2022
and 30 June 2023 100
NET BOOK VALUE
At 30 June 2023 100
At 30 June 2022 100

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 196,245 163,810
Amounts owed by group undertakings 2,324 2,324
Other debtors 23,691 22,619
222,260 188,753

Banbury Plastic Fittings Limited (Registered number: 03935890)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans and overdrafts 20,018 23,971
Trade creditors 119,985 120,449
Taxation and social security 94,080 129,509
Other creditors 117,092 6,418
351,175 280,347

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans 36,667 56,667

9. RELATED PARTY DISCLOSURES

Box15 Limited is a wholly owned subsidiary of Banbury Plastic Fittings Limited.

At the year ended 30/06/2023, Box15 Limited owed Banbury Plastic Fittings Limited £72,899. At the year ended 30/06/2022, Box15 Limited owed Banbury Plastic Fittings Limited £112,442.