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REGISTERED NUMBER: 02100415 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

URBAN PLASTICS LIMITED

URBAN PLASTICS LIMITED (REGISTERED NUMBER: 02100415)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


URBAN PLASTICS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mrs V.M. Francis
N.J. Francis
I.G. Francis





SECRETARY: N.J. Francis





REGISTERED OFFICE: 19-21 Middle Row
Stevenage
Hertfordshire
SG1 3AW





REGISTERED NUMBER: 02100415 (England and Wales)





ACCOUNTANTS: Barker Wilkinson Limited
19-21 Middle Row
Stevenage
Hertfordshire
SG1 3AW

URBAN PLASTICS LIMITED (REGISTERED NUMBER: 02100415)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 8,094 10,794
Investments 5 2,550 2,550
10,644 13,344

CURRENT ASSETS
Stocks 6 186,349 166,174
Debtors 7 210,563 199,003
Cash at bank 1,635,913 1,650,580
2,032,825 2,015,757
CREDITORS
Amounts falling due within one year 8 269,761 299,406
NET CURRENT ASSETS 1,763,064 1,716,351
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,773,708

1,729,695

PROVISIONS FOR LIABILITIES 1,538 2,051
NET ASSETS 1,772,170 1,727,644

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,772,070 1,727,544
SHAREHOLDERS' FUNDS 1,772,170 1,727,644

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 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.

URBAN PLASTICS LIMITED (REGISTERED NUMBER: 02100415)

BALANCE SHEET - continued
31 DECEMBER 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 Board of Directors and authorised for issue on 25 March 2024 and were signed on its behalf by:




I.G. Francis - Director



Mrs V.M. Francis - Director


URBAN PLASTICS LIMITED (REGISTERED NUMBER: 02100415)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Urban 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.

The directors have assessed various factors and risks affecting the company and its ability in these difficult social and economic times to continue to trade as a going concern.They have not identified any material uncertainties or risks related to events or conditions that could cast significant doubt about the company's ability to continue as a going concern and therefore the financial statements for the year ended 31st December 2023.

Significant judgements and estimates
In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from those estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

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.
Improvements to property - Over the term of the lease
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Office equipment - 25% 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.

URBAN PLASTICS LIMITED (REGISTERED NUMBER: 02100415)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The directors consider all financial instruments to be basic financial instruments in accordance with paragraph 11 of FRS102. All basic financial instruments including trade and other debtors, cash and cash equivalents, and trade and other creditors, are initially recognised at transaction price and thereafter stated at amortised cost.

Trade and other receivables and payables

Trade and other receivables and payables are measured at amortised cost which approximates to fair value given the short term nature of these assets and liabilities.

Trade receivables are valued at original invoice amount less an allowance for potentially un-collectable debts. Provision is made where there is objective evidence to suggest that the company will not be in a position to collect receivables as they fall due. Bad and Doubtful debts are written off in the profit and loss account on identification.

Cash and cash equivalents

Cash and cash equivalents comprise cash balances held for the purposes of meeting short-term cash commitments.

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.

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 9 (2022 - 9 ) .

URBAN PLASTICS LIMITED (REGISTERED NUMBER: 02100415)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 January 2023
and 31 December 2023 8,795 7,655 10,829
DEPRECIATION
At 1 January 2023 8,795 3,349 10,779
Charge for year - 1,077 13
At 31 December 2023 8,795 4,426 10,792
NET BOOK VALUE
At 31 December 2023 - 3,229 37
At 31 December 2022 - 4,306 50

Motor Office
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 44,393 14,193 85,865
DEPRECIATION
At 1 January 2023 38,087 14,061 75,071
Charge for year 1,577 33 2,700
At 31 December 2023 39,664 14,094 77,771
NET BOOK VALUE
At 31 December 2023 4,729 99 8,094
At 31 December 2022 6,306 132 10,794

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2023
and 31 December 2023 2,550
NET BOOK VALUE
At 31 December 2023 2,550
At 31 December 2022 2,550

URBAN PLASTICS LIMITED (REGISTERED NUMBER: 02100415)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

6. STOCKS
2023 2022
£    £   
Goods held for resale 186,349 166,174

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 209,223 197,005
Other debtors 1,340 1,998
210,563 199,003

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 101,068 156,064
Tax 77,730 53,667
Social security and other taxes 5,237 4,476
VAT 54,943 52,029
Other creditors 25,036 25,556
Accruals & deferred income 5,747 7,614
269,761 299,406