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REGISTERED NUMBER: 12375979 (England and Wales)















Unaudited Financial Statements for the Year Ended 30th November 2023

for

Auto-Plas Ltd

Auto-Plas Ltd (Registered number: 12375979)






Contents of the Financial Statements
for the Year Ended 30th November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Auto-Plas Ltd

Company Information
for the Year Ended 30th November 2023







DIRECTOR: Mr J Harris





REGISTERED OFFICE: Central Chambers 227 London Road
Hadleigh
Benfleet
Essex
SS7 2RF





REGISTERED NUMBER: 12375979 (England and Wales)





ACCOUNTANTS: Field & Co LLP
Central Chambers
227 London Road
Hadleigh
Benfleet
Essex
SS7 2RF

Auto-Plas Ltd (Registered number: 12375979)

Balance Sheet
30th November 2023

30/11/23 30/11/22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 73,353 80,021
Tangible assets 5 134,814 160,132
Investments 6 11,056 11,056
219,223 251,209

CURRENT ASSETS
Stocks 7 45,000 45,000
Debtors 8 105,240 239,535
Cash at bank 96,032 30,451
246,272 314,986
CREDITORS
Amounts falling due within one year 9 347,256 462,814
NET CURRENT LIABILITIES (100,984 ) (147,828 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

118,239

103,381

CREDITORS
Amounts falling due after more than
one year

10

(40,319

)

(72,769

)

PROVISIONS FOR LIABILITIES 12 (25,615 ) (30,425 )
NET ASSETS 52,305 187

Auto-Plas Ltd (Registered number: 12375979)

Balance Sheet - continued
30th November 2023

30/11/23 30/11/22
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 13 5 5
Retained earnings 14 52,300 182
SHAREHOLDERS' FUNDS 52,305 187

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

The members have not required the Company to obtain an audit of its financial statements for the year ended 30th November 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 16th August 2024 and were signed by:





Mr J Harris - Director


Auto-Plas Ltd (Registered number: 12375979)

Notes to the Financial Statements
for the Year Ended 30th November 2023

1. STATUTORY INFORMATION

Auto-Plas Ltd 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of fifteen years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 10% on cost
Motor vehicles - 25% on cost

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 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.


Auto-Plas Ltd (Registered number: 12375979)

Notes to the Financial Statements - continued
for the Year Ended 30th November 2023

2. ACCOUNTING POLICIES - continued
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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 9 (2022 - 10 ) .

Auto-Plas Ltd (Registered number: 12375979)

Notes to the Financial Statements - continued
for the Year Ended 30th November 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st December 2022
and 30th November 2023 99,847
AMORTISATION
At 1st December 2022 19,826
Amortisation for year 6,668
At 30th November 2023 26,494
NET BOOK VALUE
At 30th November 2023 73,353
At 30th November 2022 80,021

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1st December 2022 186,726 28,320 - 215,046
Additions - - 542 542
At 30th November 2023 186,726 28,320 542 215,588
DEPRECIATION
At 1st December 2022 36,624 18,290 - 54,914
Charge for year 27,672 7,080 108 34,860
Reclassification/transfer (9,000 ) - - (9,000 )
At 30th November 2023 55,296 25,370 108 80,774
NET BOOK VALUE
At 30th November 2023 131,430 2,950 434 134,814
At 30th November 2022 150,102 10,030 - 160,132

Auto-Plas Ltd (Registered number: 12375979)

Notes to the Financial Statements - continued
for the Year Ended 30th November 2023

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1st December 2022 - 28,320 28,320
Reclassification/transfer 72,000 - 72,000
At 30th November 2023 72,000 28,320 100,320
DEPRECIATION
At 1st December 2022 - 18,290 18,290
Charge for year 9,000 7,080 16,080
Reclassification/transfer 18,000 - 18,000
At 30th November 2023 27,000 25,370 52,370
NET BOOK VALUE
At 30th November 2023 45,000 2,950 47,950
At 30th November 2022 - 10,030 10,030

6. FIXED ASSET INVESTMENTS
Other
loans
£   
At 1st December 2022
and 30th November 2023 11,056

7. STOCKS
30/11/23 30/11/22
£    £   
Stocks 45,000 45,000

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/11/23 30/11/22
£    £   
Trade debtors 105,240 155,105
Other debtors - 84,430
105,240 239,535

Auto-Plas Ltd (Registered number: 12375979)

Notes to the Financial Statements - continued
for the Year Ended 30th November 2023

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/11/23 30/11/22
£    £   
Bank loans and overdrafts (see note 11) 9,519 10,000
Hire purchase contracts 27,968 29,138
Trade creditors 21,074 99,460
Taxation and social security 20,615 18,426
Other creditors 268,080 305,790
347,256 462,814

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30/11/23 30/11/22
£    £   
Bank loans (see note 11) 15,481 24,924
Hire purchase contracts 24,838 47,845
40,319 72,769

11. LOANS

An analysis of the maturity of loans is given below:

30/11/23 30/11/22
£    £   
Amounts falling due within one year or on demand:
Bank loans 9,519 10,000
Other loans 268,080 305,790
277,599 315,790

Amounts falling due between one and two years:
Bank loans - 1-2 years 8,077 10,000

Amounts falling due between two and five years:
Bank loans - 2-5 years 7,404 14,924

12. PROVISIONS FOR LIABILITIES
30/11/23 30/11/22
£    £   
Deferred tax 25,615 30,425

Auto-Plas Ltd (Registered number: 12375979)

Notes to the Financial Statements - continued
for the Year Ended 30th November 2023

12. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1st December 2022 30,425
Provided during year (4,810 )
Balance at 30th November 2023 25,615

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30/11/23 30/11/22
value: £    £   
1 Ordinary Shares £1 1 1
1 Ordinary "A" Shares £1 1 1
1 Ordinary "B" Shares £1 1 1
1 Ordinary "C" Shares £1 1 1
1 Ordinary "D" Shares £1 1 1
5 5

14. RESERVES
Retained
earnings
£   

At 1st December 2022 182
Profit for the year 103,298
Dividends (51,180 )
At 30th November 2023 52,300