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REGISTERED NUMBER: SC064971 (Scotland)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2023

FOR

PPS GLASSFIBRE LIMITED

PPS GLASSFIBRE LIMITED (REGISTERED NUMBER: SC064971)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PPS GLASSFIBRE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2023







DIRECTORS: Mrs Lesley Mairi Paterson
Keith Paterson





SECRETARY:





REGISTERED OFFICE: Harlaw Industrial Estate
Inverurie
Aberdeenshire
AB51 9SG





REGISTERED NUMBER: SC064971 (Scotland)





ACCOUNTANTS: Bon Accord Accountancy Limited
71 Charleston Road North
Cove
Aberdeen
Aberdeenshire
AB12 3SZ

PPS GLASSFIBRE LIMITED (REGISTERED NUMBER: SC064971)

BALANCE SHEET
30 APRIL 2023

30.4.23 30.4.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 249,605 273,450

CURRENT ASSETS
Stocks 125,687 93,425
Debtors 5 221,606 203,726
Cash at bank and in hand 284,774 238,349
632,067 535,500
CREDITORS
Amounts falling due within one year 6 129,218 90,665
NET CURRENT ASSETS 502,849 444,835
TOTAL ASSETS LESS CURRENT
LIABILITIES

752,454

718,285

CAPITAL AND RESERVES
Called up share capital 2,250 2,250
Revaluation reserve 7 63,402 63,402
Retained earnings 686,802 652,633
SHAREHOLDERS' FUNDS 752,454 718,285

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 March 2024 and were signed on its behalf by:





Keith Paterson - Director


PPS GLASSFIBRE LIMITED (REGISTERED NUMBER: SC064971)

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

1. STATUTORY INFORMATION

PPS Glassfibre Limited is a private company, limited by shares , registered in Scotland. 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.
Land and buildings - 2% on cost
Plant and machinery etc - 33% on cost and 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 ) .

PPS GLASSFIBRE LIMITED (REGISTERED NUMBER: SC064971)

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

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 May 2022
and 30 April 2023 358,766 282,077 640,843
DEPRECIATION
At 1 May 2022 126,851 240,542 367,393
Charge for year 3,975 19,870 23,845
At 30 April 2023 130,826 260,412 391,238
NET BOOK VALUE
At 30 April 2023 227,940 21,665 249,605
At 30 April 2022 231,915 41,535 273,450

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Trade debtors 221,606 203,726

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Trade creditors 38,988 29,714
Taxation and social security 83,890 58,348
Other creditors 6,340 2,603
129,218 90,665

7. RESERVES
Revaluation
reserve
£   
At 1 May 2022
and 30 April 2023 63,402