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Company No: 11382209 (England and Wales)

WHITE HORSE PLASTICS HOLDINGS LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

WHITE HORSE PLASTICS HOLDINGS LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

WHITE HORSE PLASTICS HOLDINGS LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 December 2023
WHITE HORSE PLASTICS HOLDINGS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Investments 3 1,662,520 1,662,520
1,662,520 1,662,520
Current assets
Cash at bank and in hand 13,147 11,123
13,147 11,123
Creditors: amounts falling due within one year 4 ( 1,496,626) ( 1,432,239)
Net current liabilities (1,483,479) (1,421,116)
Total assets less current liabilities 179,041 241,404
Net assets 179,041 241,404
Capital and reserves
Called-up share capital 5 0 0
Share premium account 400,000 400,000
Profit and loss account ( 220,959 ) ( 158,596 )
Total shareholders' funds 179,041 241,404

For the financial year ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of White Horse Plastics Holdings Limited (registered number: 11382209) were approved and authorised for issue by the Board of Directors on 10 April 2024. They were signed on its behalf by:

Nicholas Tom Allen
Director
Michael Paul Bobby
Director
WHITE HORSE PLASTICS HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
WHITE HORSE PLASTICS HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

White Horse Plastics Holdings Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 6 White Horse Plastics Ltd, White Horse Business Park, Stanford In The Vale, SN7 8NY, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

The terms of the creditor loan require that repayments be made based on cash profits in the company, and so the company does not have the unconditional right to defer settlement for 12 months from the end of the reporting period. There is however no requirement for the company to settle the loan within 12 months from the reporting date if the group of which this is parent does not make sufficient cash profits in order to do so. The company has the support of its wholly owned subsidiary.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 5 5

3. Fixed asset investments

Investments in subsidiaries

2023
£
Cost
At 01 January 2023 1,662,520
At 31 December 2023 1,662,520
Carrying value at 31 December 2023 1,662,520
Carrying value at 31 December 2022 1,662,520

4. Creditors: amounts falling due within one year

2023 2022
£ £
Amounts owed to own subsidiaries 806,939 731,716
Other loans 673,000 687,000
Accruals 16,687 13,523
1,496,626 1,432,239

£673,000 (2022: £687,000) of the balance due on other loans requires that loan repayments be made based on cash profits in the company, and so this balance is classified as due in less than one year as the company does not have the unconditional right to defer settlement for 12 months from the end of the reporting period. There is no expectation that the company will need to settle the loan within 12 months from the reporting date.

5. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
15 A Ordinary shares of £ 0.001 each 0.02 0.02
15 B Ordinary shares of £ 0.001 each 0.02 0.02
15 C Ordinary shares of £ 0.001 each 0.02 0.02
15 D Ordinary shares of £ 0.001 each 0.02 0.02
15 E Ordinary shares of £ 0.001 each 0.02 0.02
25 F Ordinary shares of £ 0.001 each 0.03 0.03
0.13 0.13