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REGISTERED NUMBER: 01336489 (England and Wales)















REPORT OF THE DIRECTOR AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

FOR

KINGSLEY PLASTICS LIMITED

KINGSLEY PLASTICS LIMITED (REGISTERED NUMBER: 01336489)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023










Page

Company Information 1

Report of the Director 2

Balance Sheet 3

Notes to the Financial Statements 5


KINGSLEY PLASTICS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2023







DIRECTOR: Mr M A Manley





SECRETARY: Mr I Pitts





REGISTERED OFFICE: The Airfield
Winkleigh
Devon
EX19 8DW





REGISTERED NUMBER: 01336489 (England and Wales)





ACCOUNTANTS: Casson Beckman
Chartered Accountants
Murrills House
48 East Street
Portchester
Fareham
Hampshire
PO16 9XS

KINGSLEY PLASTICS LIMITED (REGISTERED NUMBER: 01336489)

REPORT OF THE DIRECTOR
FOR THE YEAR ENDED 30 SEPTEMBER 2023


The director presents his report with the financial statements of the company for the year ended 30 September 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of the manufacture of glass fibre simulated buildings.

DIRECTORS
Mr M A Manley has held office during the whole of the period from 1 October 2022 to the date of this report.

Other changes in directors holding office are as follows:

Mr K G Down ceased to be a director after 30 September 2023 but prior to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Mr M A Manley - Director


14 March 2024

KINGSLEY PLASTICS LIMITED (REGISTERED NUMBER: 01336489)

BALANCE SHEET
30 SEPTEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 2,766,656 2,729,644
2,766,656 2,729,644

CURRENT ASSETS
Stocks 599,919 994,988
Debtors 6 2,084,426 1,380,961
Cash at bank and in hand 234,259 151,026
2,918,604 2,526,975
CREDITORS
Amounts falling due within one year 7 1,687,644 1,857,105
NET CURRENT ASSETS 1,230,960 669,870
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,997,616

3,399,514

CREDITORS
Amounts falling due after more than one
year

8

(1,236,967

)

(1,379,241

)

PROVISIONS FOR LIABILITIES (128,840 ) (130,071 )
NET ASSETS 2,631,809 1,890,202

CAPITAL AND RESERVES
Called up share capital 100,000 100,000
Retained earnings 2,531,809 1,790,202
SHAREHOLDERS' FUNDS 2,631,809 1,890,202

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.

KINGSLEY PLASTICS LIMITED (REGISTERED NUMBER: 01336489)

BALANCE SHEET - continued
30 SEPTEMBER 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 14 March 2024 and were signed by:





Mr M A Manley - Director


KINGSLEY PLASTICS LIMITED (REGISTERED NUMBER: 01336489)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023


1. STATUTORY INFORMATION

Kingsley Plastics 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Preparation of consolidated financial statements
The financial statements present information about the company as an individual undertaking and not about its group. The company has not prepared group accounts as it is exempt from the requirement to do so by section 400 of the Companies Act 2006 as it is a subsidiary undertaking of Kingsley Plastics Management Company Limited, a company incorporated in England.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents net invoiced sales relating to the manufacture of glass fibre simulated buildings excluding value added tax.

Patents
Patents are valued at cost less accumulated amortisation. Amortisation is calculated to write off the cost in equal annual instalments over the estimated useful lives of the patents.

Research and development
Since 1 October 2015 the company no longer capitalises research and development costs. They are now shown in the profit and loss account in the year in which they are incurred.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - 10% on cost and 2% on cost
Plant and machinery - 25% on reducing balance and 10% on cost
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance and 10% on cost

Stocks and work in progress
Stock is valued at the lower of cost and net realisable value. Work in progress is included at cost plus an element of profit.


KINGSLEY PLASTICS LIMITED (REGISTERED NUMBER: 01336489)

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 Statement of Income and Retained Earnings, 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 under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit and 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 and loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 44 (2022 - 40 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 October 2022
and 30 September 2023 434,021
AMORTISATION
At 1 October 2022
and 30 September 2023 434,021
NET BOOK VALUE
At 30 September 2023 -
At 30 September 2022 -

KINGSLEY PLASTICS LIMITED (REGISTERED NUMBER: 01336489)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


5. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 October 2022 2,435,968 1,062,478 71,243 428,024 3,997,713
Additions - 78,753 165,662 - 244,415
At 30 September 2023 2,435,968 1,141,231 236,905 428,024 4,242,128
DEPRECIATION
At 1 October 2022 323,021 598,755 47,505 298,788 1,268,069
Charge for year 54,178 104,170 8,865 40,190 207,403
At 30 September 2023 377,199 702,925 56,370 338,978 1,475,472
NET BOOK VALUE
At 30 September 2023 2,058,769 438,306 180,535 89,046 2,766,656
At 30 September 2022 2,112,947 463,723 23,738 129,236 2,729,644

6. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 1,317,231 851,741
Amounts owed by associates 137,728 -
Other debtors 204,467 127,564
1,659,426 979,305

Amounts falling due after more than one year:
Amounts owed by group undertakings 425,000 401,656

Aggregate amounts 2,084,426 1,380,961

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 133,469 136,034
Hire purchase contracts 11,353 41,002
Trade creditors 449,318 553,791
Taxation and social security 550,802 192,486
Other creditors 542,702 933,792
1,687,644 1,857,105

KINGSLEY PLASTICS LIMITED (REGISTERED NUMBER: 01336489)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 1,225,591 1,356,495
Hire purchase contracts 11,376 22,746
1,236,967 1,379,241

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 691,716 812,359

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 1,359,060 1,492,529
Hire purchase contracts 22,729 63,748
1,381,789 1,556,277

Hire purchase contracts are secured by fixed charges on the assets to which they relate.

Bank loans are secured over the leasehold properties of the company.

10. OTHER FINANCIAL COMMITMENTS

The company is committed to vehicle lease payments of £39,696.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Kingsley Plastics Management Company Limited.

The Airfield, Winkleigh, Devon, EX19 8DW