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REGISTERED NUMBER: 03206518












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

FOR

JSB PLASTICS LIMITED

JSB PLASTICS LIMITED (REGISTERED NUMBER: 03206518)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 June 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


JSB PLASTICS LIMITED

COMPANY INFORMATION
for the year ended 30 June 2023







DIRECTORS: P M Cooper
M L Cooper
D J Cooper





SECRETARY: P M Cooper





REGISTERED OFFICE: Unit 2 Charnwood Edge Business Park
Syston Road
Cossington
Leicester
LE7 4UZ





REGISTERED NUMBER: 03206518





ACCOUNTANTS: Magma Audit LLP
Unit 2 Charnwood Edge Business Park
Syston Road, Leicester
LE7 4UZ
Magma Audit LLP is part
Of the Dains Group

JSB PLASTICS LIMITED (REGISTERED NUMBER: 03206518)

BALANCE SHEET
30 June 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 655,427 662,534

CURRENT ASSETS
Stocks 32,500 32,500
Debtors 5 1,238,902 787,876
Cash at bank 586,376 1,245,584
1,857,778 2,065,960
CREDITORS
Amounts falling due within one year 6 (140,493 ) (139,410 )
NET CURRENT ASSETS 1,717,285 1,926,550
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,372,712

2,589,084

PROVISIONS FOR LIABILITIES (21,876 ) (26,430 )
NET ASSETS 2,350,836 2,562,654

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 2,350,834 2,562,652
2,350,836 2,562,654

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 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.

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 3 September 2024 and were signed on its behalf by:





P M Cooper - Director


JSB PLASTICS LIMITED (REGISTERED NUMBER: 03206518)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 June 2023


1. STATUTORY INFORMATION

JSB Plastics Limited is a limited company, limited by shares, registered in England and Wales. Its registered office address is Unit 2 Charnwood Edge Business Park, Syston Road, Cossington, Leicester, LE7 4UZ and the registered number is 03206518.

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.

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold land & buildings - 2% straight line
Improvements to property - 20% straight line
Plant and machinery - 25% on reducing balance and 10% straight line
Fixtures and fittings - 25% straight line
Motor vehicles - 25% on reducing balance

Stocks
Stocks are stated at the lower of cost and 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.

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


JSB PLASTICS LIMITED (REGISTERED NUMBER: 03206518)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2023


2. ACCOUNTING POLICIES - continued
Taxation
The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a change 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.

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.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Pension costs and other post-retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2022 - 16 ) .

JSB PLASTICS LIMITED (REGISTERED NUMBER: 03206518)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2023


4. TANGIBLE FIXED ASSETS
Freehold Improvements
land & to Plant and
buildings property machinery
£    £    £   
COST
At 1 July 2022 639,516 11,604 652,096
Additions - - 16,976
At 30 June 2023 639,516 11,604 669,072
DEPRECIATION
At 1 July 2022 127,900 11,604 506,941
Charge for year 12,790 - 40,536
At 30 June 2023 140,690 11,604 547,477
NET BOOK VALUE
At 30 June 2023 498,826 - 121,595
At 30 June 2022 511,616 - 145,155

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 July 2022 27,611 8,000 1,338,827
Additions - 34,000 50,976
At 30 June 2023 27,611 42,000 1,389,803
DEPRECIATION
At 1 July 2022 24,379 5,469 676,293
Charge for year 1,291 3,466 58,083
At 30 June 2023 25,670 8,935 734,376
NET BOOK VALUE
At 30 June 2023 1,941 33,065 655,427
At 30 June 2022 3,232 2,531 662,534

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 865,748 771,408
Amounts owed by group undertakings 309,056 -
Other debtors 64,098 16,468
1,238,902 787,876

JSB PLASTICS LIMITED (REGISTERED NUMBER: 03206518)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 88,688 55,886
Taxation and social security 38,069 72,388
Other creditors 13,736 11,136
140,493 139,410

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year - 5,122

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 June 2023 and 30 June 2022:

2023 2022
£    £   
P M Cooper
Balance outstanding at start of year (122 ) (209 )
Amounts advanced 64,622 42,569
Amounts repaid (65,249 ) (42,482 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (749 ) (122 )

M L Cooper
Balance outstanding at start of year - -
Amounts advanced 48,044 -
Amounts repaid (38,689 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 9,355 -

D J Cooper
Balance outstanding at start of year - -
Amounts advanced 16,413 -
Amounts repaid (512 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 15,901 -