Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-3162023-01-01falsePlumbing supplies6The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetrue 04736769 2023-01-01 2023-12-31 04736769 2022-01-01 2022-12-31 04736769 2023-12-31 04736769 2022-12-31 04736769 c:Director1 2023-01-01 2023-12-31 04736769 d:PlantMachinery 2023-01-01 2023-12-31 04736769 d:PlantMachinery 2023-12-31 04736769 d:PlantMachinery 2022-12-31 04736769 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04736769 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 04736769 d:MotorVehicles 2023-01-01 2023-12-31 04736769 d:MotorVehicles 2023-12-31 04736769 d:MotorVehicles 2022-12-31 04736769 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04736769 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 04736769 d:FurnitureFittings 2023-01-01 2023-12-31 04736769 d:FurnitureFittings 2023-12-31 04736769 d:FurnitureFittings 2022-12-31 04736769 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04736769 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 04736769 d:OfficeEquipment 2023-01-01 2023-12-31 04736769 d:OfficeEquipment 2023-12-31 04736769 d:OfficeEquipment 2022-12-31 04736769 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04736769 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 04736769 d:ComputerEquipment 2023-01-01 2023-12-31 04736769 d:ComputerEquipment 2023-12-31 04736769 d:ComputerEquipment 2022-12-31 04736769 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04736769 d:ComputerEquipment d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 04736769 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04736769 d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 04736769 d:CurrentFinancialInstruments 2023-12-31 04736769 d:CurrentFinancialInstruments 2022-12-31 04736769 d:Non-currentFinancialInstruments 2023-12-31 04736769 d:Non-currentFinancialInstruments 2022-12-31 04736769 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 04736769 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 04736769 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 04736769 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 04736769 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 04736769 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 04736769 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-12-31 04736769 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-12-31 04736769 d:ShareCapital 2023-12-31 04736769 d:ShareCapital 2022-12-31 04736769 d:RetainedEarningsAccumulatedLosses 2023-12-31 04736769 d:RetainedEarningsAccumulatedLosses 2022-12-31 04736769 c:FRS102 2023-01-01 2023-12-31 04736769 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 04736769 c:FullAccounts 2023-01-01 2023-12-31 04736769 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04736769 d:WithinOneYear 2023-12-31 04736769 d:WithinOneYear 2022-12-31 04736769 d:BetweenOneFiveYears 2023-12-31 04736769 d:BetweenOneFiveYears 2022-12-31 04736769 d:HirePurchaseContracts d:WithinOneYear 2023-12-31 04736769 d:HirePurchaseContracts d:WithinOneYear 2022-12-31 04736769 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-12-31 04736769 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-12-31 04736769 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 04736769










TETRAFLOW PLASTICS LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
TETRAFLOW PLASTICS LTD
REGISTERED NUMBER: 04736769

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
59,286
82,923

  
59,286
82,923

Current assets
  

Stocks
  
304,085
405,132

Debtors: amounts falling due within one year
 5 
177,677
294,359

Cash at bank and in hand
 6 
184,647
167,805

  
666,409
867,296

Creditors: amounts falling due within one year
 7 
(399,792)
(790,105)

Net current assets
  
 
 
266,617
 
 
77,191

Total assets less current liabilities
  
325,903
160,114

Creditors: amounts falling due after more than one year
 8 
(80,390)
(90,453)

Provisions for liabilities
  

Deferred tax
  
(13,874)
(12,481)

  
 
 
(13,874)
 
 
(12,481)

Net assets
  
231,639
57,180


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
231,539
57,080

  
231,639
57,180


Page 1

 
TETRAFLOW PLASTICS LTD
REGISTERED NUMBER: 04736769
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Danish Dada
Director

Date: 15 August 2024

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
TETRAFLOW PLASTICS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Tetraflow Plastics Ltd (04736769) is a private company limited by shares and incorporated in England and Wales. The registered office is 14th Floor, 33 Cavendish Square, London, W1G 0PW.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
TETRAFLOW PLASTICS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 4

 
TETRAFLOW PLASTICS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
5 years straight line
Motor vehicles
-
4 years straight line
Fixtures and fittings
-
5 year over lease life
Office equipment
-
5 years straight line
Computer equipment
-
5 years straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.11

Creditors

Short-term creditors are measured at the transaction price.

Page 5

 
TETRAFLOW PLASTICS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.13

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement
Page 6

 
TETRAFLOW PLASTICS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.13
Financial instruments (continued)

would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees

The average monthly number of employees, including directors, during the year was 6 (2022 - 6).

Page 7

 
TETRAFLOW PLASTICS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Office equipment
Computer equipment
Total

£
£
£
£
£
£



Cost or valuation


At 1 January 2023
33,218
80,850
1,738
500
619
116,925



At 31 December 2023

33,218
80,850
1,738
500
619
116,925



Depreciation


At 1 January 2023
17,072
15,159
1,072
316
381
34,000


Charge for the year on owned assets
6,644
-
348
100
124
7,216


Charge for the year on financed assets
-
16,423
-
-
-
16,423



At 31 December 2023

23,716
31,582
1,420
416
505
57,639



Net book value



At 31 December 2023
9,502
49,268
318
84
114
59,286



At 31 December 2022
16,146
65,691
666
184
238
82,925


5.


Debtors

2023
2022
£
£


Trade debtors
144,552
261,675

Other debtors
10,575
15,827

Prepayments and accrued income
22,550
16,857

177,677
294,359



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
184,647
167,805


Page 8

 
TETRAFLOW PLASTICS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
10,000
10,000

Trade creditors
217,122
491,059

Amounts owed to group undertakings
4,188
103,793

Corporation tax
61,301
-

Other taxation and social security
63,771
140,864

Obligations under finance lease and hire purchase contracts
8,599
8,599

Other creditors
802
659

Accruals and deferred income
34,009
35,131

399,792
790,105



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
35,593
37,057

Net obligations under finance leases and hire purchase contracts
44,797
53,396

80,390
90,453



9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
10,000
10,000


Amounts falling due 2-5 years

Bank loans
35,593
10,000

Amounts falling due after more than 5 years

Bank loans
-
27,057

45,593
47,057


Page 9

 
TETRAFLOW PLASTICS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


HP liabilities
8,599
8,599

Between 1-5 years
44,797
53,396

53,396
61,995


11.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held
separately from those of the Company in an independently administered fund. The pension cost charge
represents contributions payable by the Company to the fund and amounted to £3,733 (2022 - £2,479) .
Contributions totalling £802 (2022 - £554) were payable to the fund at the balance sheet date and are
included in creditors.


12.


Commitments under operating leases

At 31 December 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
52,781
49,262

Later than 1 year and not later than 5 years
-
52,781

52,781
102,043


13.


Related party transactions

Included in creditors is an interest free loan repayable on demand to the value of £4,188 (2022 - £103,793) due to the parent company.
Included in trade creditors is an amount owed to the parent company to the value of £132,019 (2022 - £267,782).
Included in other debtors is an interest free loan to the value of £19 (2022 - £5,061) owed from the director.

 
Page 10