IRIS Accounts Production v23.4.0.336 03592369 director 1.1.23 31.12.23 31.12.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh035923692022-12-31035923692023-12-31035923692023-01-012023-12-31035923692021-12-31035923692022-01-012022-12-31035923692022-12-3103592369ns15:EnglandWales2023-01-012023-12-3103592369ns14:PoundSterling2023-01-012023-12-3103592369ns10:Director12023-01-012023-12-3103592369ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3103592369ns10:SmallEntities2023-01-012023-12-3103592369ns10:AuditExemptWithAccountantsReport2023-01-012023-12-3103592369ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3103592369ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3103592369ns10:FullAccounts2023-01-012023-12-3103592369ns10:RegisteredOffice2023-01-012023-12-3103592369ns5:CurrentFinancialInstruments2023-12-3103592369ns5:CurrentFinancialInstruments2022-12-3103592369ns5:Non-currentFinancialInstruments2023-12-3103592369ns5:Non-currentFinancialInstruments2022-12-3103592369ns5:ShareCapital2023-12-3103592369ns5:ShareCapital2022-12-3103592369ns5:RevaluationReserve2023-12-3103592369ns5:RevaluationReserve2022-12-3103592369ns5:RetainedEarningsAccumulatedLosses2023-12-3103592369ns5:RetainedEarningsAccumulatedLosses2022-12-3103592369ns5:OwnedOrFreeholdAssetsns5:LandBuildings2023-01-012023-12-3103592369ns5:LeaseholdImprovements2023-01-012023-12-3103592369ns5:PlantMachinery2023-01-012023-12-3103592369ns5:FurnitureFittings2023-01-012023-12-3103592369ns5:ComputerEquipment2023-01-012023-12-3103592369ns5:LandBuildings2022-12-3103592369ns5:LeaseholdImprovements2022-12-3103592369ns5:PlantMachinery2022-12-3103592369ns5:LandBuildings2023-01-012023-12-3103592369ns5:LandBuildings2023-12-3103592369ns5:LeaseholdImprovements2023-12-3103592369ns5:PlantMachinery2023-12-3103592369ns5:LandBuildings2022-12-3103592369ns5:LeaseholdImprovements2022-12-3103592369ns5:PlantMachinery2022-12-3103592369ns5:FurnitureFittings2022-12-3103592369ns5:ComputerEquipment2022-12-3103592369ns5:FurnitureFittings2023-12-3103592369ns5:ComputerEquipment2023-12-3103592369ns5:FurnitureFittings2022-12-3103592369ns5:ComputerEquipment2022-12-3103592369ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3103592369ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3103592369ns5:Secured2023-12-3103592369ns5:Secured2022-12-3103592369ns5:RevaluationReserve2022-12-31
REGISTERED NUMBER: 03592369 (England and Wales)













Unaudited Financial Statements for the Year Ended 31 December 2023

for

Great Central Plastics Limited

Great Central Plastics Limited (Registered number: 03592369)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


Great Central Plastics Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: B Phillips





REGISTERED OFFICE: 13 Great Central Way
Woodford Halse
Daventry
Northamptonshire
NN11 3PZ





REGISTERED NUMBER: 03592369 (England and Wales)





ACCOUNTANTS: Wilkes Tranter & Co Limited
Brook House
Moss Grove
Kingswinford
West Midlands
DY6 9HS

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Great Central Plastics Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Director's Report are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Great Central Plastics Limited for the year ended 31 December 2023 which comprise the Profit and Loss Account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Great Central Plastics Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Great Central Plastics Limited and state those matters that we have agreed to state to the director of Great Central Plastics Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Great Central Plastics Limited and its director for our work or for this report.

It is your duty to ensure that Great Central Plastics Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Great Central Plastics Limited. You consider that Great Central Plastics Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Great Central Plastics Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Wilkes Tranter & Co Limited
Brook House
Moss Grove
Kingswinford
West Midlands
DY6 9HS


12 March 2024

Great Central Plastics Limited (Registered number: 03592369)

Balance Sheet
31 December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 349,710 363,098

CURRENT ASSETS
Stocks 19,088 39,150
Debtors 5 165,770 157,985
Investments 6 30,000 30,000
Cash at bank and in hand 212,905 291,998
427,763 519,133
CREDITORS
Amounts falling due within one year 7 (205,080 ) (237,837 )
NET CURRENT ASSETS 222,683 281,296
TOTAL ASSETS LESS CURRENT
LIABILITIES

572,393

644,394

CREDITORS
Amounts falling due after more than
one year

8

(20,679

)

(30,855

)

PROVISIONS FOR LIABILITIES (25,482 ) (21,910 )
NET ASSETS 526,232 591,629

CAPITAL AND RESERVES
Called up share capital 2,490 2,490
Revaluation reserve 10 70,729 70,729
Retained earnings 453,013 518,410
526,232 591,629

Great Central Plastics Limited (Registered number: 03592369)

Balance Sheet - continued
31 December 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 12 March 2024 and were signed by:





B Phillips - Director


Great Central Plastics Limited (Registered number: 03592369)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Great Central 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.

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 measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 - Nil
Improvements to property - 10% on reducing balance
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 33% on reducing balance
Computer equipment - 33% 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.

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.

Great Central Plastics Limited (Registered number: 03592369)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

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 16 (2022 - 17 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 January 2023 399,166 98,538 572,723
Additions - - 6,491
At 31 December 2023 399,166 98,538 579,214
DEPRECIATION
At 1 January 2023 151,385 55,705 504,680
Charge for year - 4,283 14,463
At 31 December 2023 151,385 59,988 519,143
NET BOOK VALUE
At 31 December 2023 247,781 38,550 60,071
At 31 December 2022 247,781 42,833 68,043

Great Central Plastics Limited (Registered number: 03592369)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS - continued

Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2023 90,991 57,580 1,218,998
Additions - 496 6,987
At 31 December 2023 90,991 58,076 1,225,985
DEPRECIATION
At 1 January 2023 88,675 55,455 855,900
Charge for year 764 865 20,375
At 31 December 2023 89,439 56,320 876,275
NET BOOK VALUE
At 31 December 2023 1,552 1,756 349,710
At 31 December 2022 2,316 2,125 363,098

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 155,757 135,031
Other debtors 10,013 22,954
165,770 157,985

6. CURRENT ASSET INVESTMENTS
2023 2022
£    £   
Unlisted investments 30,000 30,000

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans 12,488 12,010
Trade creditors 107,232 134,388
Taxation and social security 73,287 73,402
Other creditors 12,073 18,037
205,080 237,837

Great Central Plastics Limited (Registered number: 03592369)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans 20,679 30,855

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 33,167 42,865

10. RESERVES
Revaluation
reserve
£   
At 1 January 2023
and 31 December 2023 70,729