Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-3122022-04-01falsethe manufacture of plastic ventiliation products2truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10893561 2022-04-01 2023-03-31 10893561 2021-04-01 2022-03-31 10893561 2023-03-31 10893561 2022-03-31 10893561 c:Director2 2022-04-01 2023-03-31 10893561 d:OfficeEquipment 2022-04-01 2023-03-31 10893561 d:OfficeEquipment 2023-03-31 10893561 d:OfficeEquipment 2022-03-31 10893561 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 10893561 d:CurrentFinancialInstruments 2023-03-31 10893561 d:CurrentFinancialInstruments 2022-03-31 10893561 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 10893561 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 10893561 d:ShareCapital 2023-03-31 10893561 d:ShareCapital 2022-03-31 10893561 d:RetainedEarningsAccumulatedLosses 2023-03-31 10893561 d:RetainedEarningsAccumulatedLosses 2022-03-31 10893561 c:OrdinaryShareClass1 2022-04-01 2023-03-31 10893561 c:OrdinaryShareClass1 2023-03-31 10893561 c:OrdinaryShareClass2 2022-04-01 2023-03-31 10893561 c:OrdinaryShareClass2 2023-03-31 10893561 c:FRS102 2022-04-01 2023-03-31 10893561 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 10893561 c:FullAccounts 2022-04-01 2023-03-31 10893561 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 10893561









MEDALLION PLASTICS FABRICATIONS LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
MEDALLION PLASTICS FABRICATIONS LTD
REGISTERED NUMBER: 10893561

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
921
-

Current assets
  

Stocks
 5 
5,793
5,242

Debtors: amounts falling due within one year
 6 
23,833
55,395

Cash at bank and in hand
 7 
317,141
214,155

  
346,767
274,792

Creditors: amounts falling due within one year
 8 
(213,831)
(169,973)

Net current assets
  
 
 
132,936
 
 
104,819

Total assets less current liabilities
  
133,857
104,819

  

Net assets
  
133,857
104,819


Capital and reserves
  

Called up share capital 
 9 
100
100

Profit and loss account
  
133,757
104,719

  
133,857
104,819


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 comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
 
Page 1

 
MEDALLION PLASTICS FABRICATIONS LTD
REGISTERED NUMBER: 10893561
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023


The financial statements were approved and authorised for issue by the board and were signed on its behalf on 4 March 2024.




S J Watson
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
MEDALLION PLASTICS FABRICATIONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Medallion Plastics Fabrications Limited is a private company limited by shares and incorporated in England and Wales. The address of the registered office is Unit No. 10 Europa Trading Estate, Fraser Road, Erith, United Kingdom, DA8 1QL.
The principal activity of the company during the year has been that of the manufacture of plastic ventilation products.

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

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.

 
2.4

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 3

 
MEDALLION PLASTICS FABRICATIONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.4
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:

Office equipment
-
33%
straight-line method

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.

 
2.5

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 first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet 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.

 
2.6

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.

 
2.7

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.

 
2.8

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.

 
2.9

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 4

 
MEDALLION PLASTICS FABRICATIONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 April 2022
8,333


Additions
1,140



At 31 March 2023

9,473



Depreciation


At 1 April 2022
8,333


Charge for the year on owned assets
219



At 31 March 2023

8,552



Net book value



At 31 March 2023
921



At 31 March 2022
-


5.


Stocks

2023
2022
£
£

Stock
5,793
5,242

5,793
5,242



6.


Debtors

2023
2022
£
£


Trade debtors
23,833
53,064

Other debtors
-
2,331
Page 5

 
MEDALLION PLASTICS FABRICATIONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

6.Debtors (continued)


23,833
55,395



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
317,141
214,155

317,141
214,155



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
8,782
21,230

Corporation tax
5,291
-

Other taxation and social security
2,984
-

Other creditors
194,224
146,193

Accruals and deferred income
2,550
2,550

213,831
169,973



9.


Share capital

2023
2022
£
£
Authorised, allotted, called up and fully paid



60 Ordinary A shares of £1 each
60
60
40 Ordinary B shares of £1 each
40
40

100

100


 
Page 6