IRIS Accounts Production v24.2.0.383 02348591 Board of Directors 1.5.23 30.4.24 30.4.24 false true false false false true false Ordinary A 1.00000 Ordinary B 1.00000 Ordinary C 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh023485912023-04-30023485912024-04-30023485912023-05-012024-04-30023485912022-04-30023485912022-05-012023-04-30023485912023-04-3002348591ns15:EnglandWales2023-05-012024-04-3002348591ns14:PoundSterling2023-05-012024-04-3002348591ns10:Director12023-05-012024-04-3002348591ns10:PrivateLimitedCompanyLtd2023-05-012024-04-3002348591ns10:SmallEntities2023-05-012024-04-3002348591ns10:AuditExemptWithAccountantsReport2023-05-012024-04-3002348591ns10:SmallCompaniesRegimeForDirectorsReport2023-05-012024-04-3002348591ns10:SmallCompaniesRegimeForAccounts2023-05-012024-04-3002348591ns10:FullAccounts2023-05-012024-04-300234859112023-05-012024-04-3002348591ns10:OrdinaryShareClass12023-05-012024-04-3002348591ns10:OrdinaryShareClass22023-05-012024-04-3002348591ns10:OrdinaryShareClass32023-05-012024-04-3002348591ns10:Director22023-05-012024-04-3002348591ns10:RegisteredOffice2023-05-012024-04-3002348591ns5:CurrentFinancialInstruments2024-04-3002348591ns5:CurrentFinancialInstruments2023-04-3002348591ns5:Non-currentFinancialInstruments2024-04-3002348591ns5:Non-currentFinancialInstruments2023-04-3002348591ns5:ShareCapital2024-04-3002348591ns5:ShareCapital2023-04-3002348591ns5:SharePremium2024-04-3002348591ns5:SharePremium2023-04-3002348591ns5:RevaluationReserve2024-04-3002348591ns5:RevaluationReserve2023-04-3002348591ns5:RetainedEarningsAccumulatedLosses2024-04-3002348591ns5:RetainedEarningsAccumulatedLosses2023-04-3002348591ns5:IntangibleAssetsOtherThanGoodwill2023-05-012024-04-3002348591ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2023-05-012024-04-3002348591ns5:IntangibleAssetsOtherThanGoodwill2023-04-3002348591ns5:IntangibleAssetsOtherThanGoodwill2024-04-3002348591ns5:IntangibleAssetsOtherThanGoodwill2023-04-3002348591ns5:LongLeaseholdAssetsns5:LandBuildings2023-04-3002348591ns5:PlantMachinery2023-04-3002348591ns5:FurnitureFittings2023-04-3002348591ns5:LongLeaseholdAssetsns5:LandBuildings2023-05-012024-04-3002348591ns5:PlantMachinery2023-05-012024-04-3002348591ns5:FurnitureFittings2023-05-012024-04-3002348591ns5:LongLeaseholdAssetsns5:LandBuildings2024-04-3002348591ns5:PlantMachinery2024-04-3002348591ns5:FurnitureFittings2024-04-3002348591ns5:LongLeaseholdAssetsns5:LandBuildings2023-04-3002348591ns5:PlantMachinery2023-04-3002348591ns5:FurnitureFittings2023-04-3002348591ns5:MotorVehicles2023-04-3002348591ns5:ComputerEquipment2023-04-3002348591ns5:MotorVehicles2023-05-012024-04-3002348591ns5:ComputerEquipment2023-05-012024-04-3002348591ns5:MotorVehicles2024-04-3002348591ns5:ComputerEquipment2024-04-3002348591ns5:MotorVehicles2023-04-3002348591ns5:ComputerEquipment2023-04-3002348591ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-04-3002348591ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-04-3002348591ns10:OrdinaryShareClass12024-04-3002348591ns10:OrdinaryShareClass22024-04-3002348591ns10:OrdinaryShareClass32024-04-3002348591ns5:RevaluationReserve2023-04-30
REGISTERED NUMBER: 02348591 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

Plastics Direct Limited

Plastics Direct Limited (Registered number: 02348591)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Chartered Certified Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


Plastics Direct Limited

Company Information
for the Year Ended 30 April 2024







Directors: Mr C H Morgan
Mr B A Stringer





Registered office: 48 Union Street
Hyde
Cheshire
SK14 1ND





Registered number: 02348591 (England and Wales)





Accountants: Allen Mills Howard & Co
Chartered Certified Accountants
Library Chambers
48 Union Street
Hyde
Cheshire
SK14 1ND

Chartered Certified Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Plastics Direct Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Plastics Direct Limited for the year ended 30 April 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Plastics Direct Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Plastics Direct Limited and state those matters that we have agreed to state to the Board of Directors of Plastics Direct Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Plastics Direct Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Plastics Direct Limited. You consider that Plastics Direct Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Plastics Direct Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Allen Mills Howard & Co
Chartered Certified Accountants
Library Chambers
48 Union Street
Hyde
Cheshire
SK14 1ND


27 August 2024

Plastics Direct Limited (Registered number: 02348591)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Intangible assets 4 - -
Tangible assets 5 314,531 121,236
314,531 121,236

Current assets
Stocks 225,577 253,231
Debtors 6 376,970 488,806
Cash at bank and in hand 290,926 64,870
893,473 806,907
Creditors
Amounts falling due within one year 7 406,909 232,246
Net current assets 486,564 574,661
Total assets less current liabilities 801,095 695,897

Creditors
Amounts falling due after more than one
year

8

(40,451

)

(34,077

)

Provisions for liabilities (37,531 ) (23,035 )
Net assets 723,113 638,785

Capital and reserves
Called up share capital 9 93 93
Share premium 16,983 16,983
Revaluation reserve 10 8,000 8,000
Retained earnings 698,037 613,709
Shareholders' funds 723,113 638,785

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 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.

Plastics Direct Limited (Registered number: 02348591)

Balance Sheet - continued
30 April 2024


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 Board of Directors and authorised for issue on 27 August 2024 and were signed on its behalf by:





Mr B A Stringer - Director


Plastics Direct Limited (Registered number: 02348591)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. Statutory information

Plastics Direct Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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.

Development costs are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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.

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.

Plastics Direct Limited (Registered number: 02348591)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. Accounting policies - continued

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 18 (2023 - 18 ) .

4. Intangible fixed assets
Other
intangible
assets
£   
Cost
At 1 May 2023
and 30 April 2024 107,497
Amortisation
At 1 May 2023
and 30 April 2024 107,497
Net book value
At 30 April 2024 -
At 30 April 2023 -

5. Tangible fixed assets
Fixtures
Long Plant and and
leasehold machinery fittings
£    £    £   
Cost
At 1 May 2023 8,237 282,710 105,928
Additions 159,621 71,134 -
At 30 April 2024 167,858 353,844 105,928
Depreciation
At 1 May 2023 8,237 214,024 99,333
Charge for year 1,470 25,323 1,314
At 30 April 2024 9,707 239,347 100,647
Net book value
At 30 April 2024 158,151 114,497 5,281
At 30 April 2023 - 68,686 6,595

Plastics Direct Limited (Registered number: 02348591)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

5. Tangible fixed assets - continued

Motor Computer
vehicles equipment Totals
£    £    £   
Cost
At 1 May 2023 136,517 4,459 537,851
Additions - 252 231,007
At 30 April 2024 136,517 4,711 768,858
Depreciation
At 1 May 2023 91,791 3,230 416,615
Charge for year 8,945 660 37,712
At 30 April 2024 100,736 3,890 454,327
Net book value
At 30 April 2024 35,781 821 314,531
At 30 April 2023 44,726 1,229 121,236

6. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 307,919 424,140
Other debtors 69,051 64,666
376,970 488,806

7. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 10,648 10,648
Hire purchase contracts 28,530 18,444
Trade creditors 279,174 41,832
Taxation and social security 65,950 124,650
Other creditors 22,607 36,672
406,909 232,246

8. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans 11,735 21,674
Hire purchase contracts 28,716 12,403
40,451 34,077

Plastics Direct Limited (Registered number: 02348591)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
76 Ordinary A £1 76 76
10 Ordinary B £1 10 10
7 Ordinary C £1 7 7
93 93

10. Reserves
Revaluation
reserve
£   
At 1 May 2023
and 30 April 2024 8,000