Company registration number 06529309 (England and Wales)
THE PLASTIC BOX COMPANY LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
THE PLASTIC BOX COMPANY LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
THE PLASTIC BOX COMPANY LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
6,086
7,407
Current assets
Stocks
606,148
641,031
Debtors
5
75,180
152,819
Cash at bank and in hand
186,875
259,368
868,203
1,053,218
Creditors: amounts falling due within one year
6
(459,064)
(648,466)
Net current assets
409,139
404,752
Net assets
415,225
412,159
Capital and reserves
Called up share capital
7
2
2
Profit and loss reserves
415,223
412,157
Total equity
415,225
412,159

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 2 August 2024 and are signed on its behalf by:
A M Holt
Director
Company registration number 06529309 (England and Wales)
THE PLASTIC BOX COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

The Plastic Box Company Limited is a company limited by shares incorporated in England and Wales. The registered office is Pendle Court, 4 Mead Way, Padiham, Burnley, Lancashire, BB12 7NG.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The Plastic Box Company Limited is a wholly owned subsidiary of 0404 Investments Limited and the results of The Plastic Box Company Limited are included in the consolidated financial statements of 0404 Investments Limited which are available from the registered office.

1.2
Going concern

The directortrues are not aware of any material uncertainties affecting the company and expect the company will have sufficient resources to continue trading for the foreseeable future.

 

On this basis the financial statements have been prepared on a going concern basis.

1.3
Turnover

Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of VAT and trade discounts.

 

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business.

 

1.4
Intangible fixed assets other than goodwill

Website development expenses are stated at cost.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Website
25% straight line basis
THE PLASTIC BOX COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
15% reducing balance basis
Fixtures and fittings
15% reducing balance basis
Office equipment
15% reducing balance basis
1.6
Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowances for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

1.7
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 current liabilities.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

 

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

THE PLASTIC BOX COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -
1.12
Leases

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
5
6
3
Intangible fixed assets
Other
£
Cost
At 1 January 2023 and 31 December 2023
23,795
Amortisation and impairment
At 1 January 2023 and 31 December 2023
23,795
Carrying amount
At 31 December 2023
-
0
At 31 December 2022
-
0
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023 and 31 December 2023
19,928
Depreciation and impairment
At 1 January 2023
12,521
Depreciation charged in the year
1,321
At 31 December 2023
13,842
Carrying amount
At 31 December 2023
6,086
At 31 December 2022
7,407
THE PLASTIC BOX COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
64,897
78,008
Other debtors
10,283
74,811
75,180
152,819
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
172,910
188,296
Amounts owed to group undertakings
197,893
366,418
Corporation tax
31,905
43,020
Other taxation and social security
20,471
15,638
Other creditors
35,885
35,094
459,064
648,466
7
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
2 Ordinary shares of £1 each
2
2
8
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Linda Wilkinson
Statutory Auditor:
Pierce C.A. Limited
Date of audit report:
2 August 2024
THE PLASTIC BOX COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 6 -
9
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
18,688
28,438
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