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Premier Plastics Holdings Ltd
Filleted accounts
31 December 2023
Company registration number: 09711754
Premier Plastics Holdings Ltd
Directors and other information
Directors C Edlund-Reeve
J Reeve
J C Reeve
Company number 09711754
Registered office The Old Dairy
12 Stephen Road
Headington
Oxford
OX3 9AY
Auditor Cox Hinkins Audit Services Limited
The Old Dairy
12 Stephen Road
Headington
Oxford
OX3 9AY
Premier Plastics Holdings Ltd
Directors responsibilities statement
Year ended 31st December 2023
The directors are responsible for preparing the directors report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to:
- select suitable accounting policies and then apply them consistently;
- make judgments and accounting estimates that are reasonable and prudent; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Premier Plastics Holdings Ltd
Balance sheet
31st December 2023
2023 2022
Note £ £ £ £
Fixed assets
Investments 5 100,003 100,003
_______ _______
100,003 100,003
Current assets
Debtors 6 61,196 61,196
_______ _______
61,196 61,196
Creditors: amounts falling due
within one year 7 ( 150,008) ( 150,008)
_______ _______
Net current liabilities ( 88,812) ( 88,812)
_______ _______
Net assets 11,191 11,191
_______ _______
Capital and reserves
Called up share capital 8 100 100
Profit and loss account 11,091 11,091
_______ _______
Shareholders funds 11,191 11,191
_______ _______
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the Profit & loss account has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 10 September 2024 , and are signed on behalf of the board by:
J C Reeve
Director
Company registration number: 09711754
Premier Plastics Holdings Ltd
Notes to the financial statements
Year ended 31st December 2023
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is The Old Dairy, 12 Stephen Road, Headington, Oxford, OX3 9AY. There was no significant change in the company's principal activity during the year which continued to be that of a holding company .
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The principal accounting policies are set out below. The financial statements are prepared in sterling which is the functional currency of the entity.
Consolidation
The company has taken advantage of the exemption from preparing consolidated financial statements contained in Section 400 of the Companies Act 2006 on the basis that it is a subsidiary undertaking and its immediate parent undertaking is established under the law of any part of the United Kingdom.
Investments
Investments in subsidiary undertakings are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the asset of the company after deducting all of its liabilities. The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, 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 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.
4. Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2022: Nil).
5. Investments
Shares in group undertakings and participating interests Total
£ £
Cost
At 1st January 2023 and 31st December 2023 150,003 150,003
_______ _______
Impairment
At 1st January 2023 and 31st December 2023 50,000 50,000
_______ _______
Carrying amount
At 31st December 2023 100,003 100,003
_______ _______
At 31st December 2022 100,003 100,003
_______ _______
Investments in group undertakings
Registered office Class of share Percentage of shares held
Subsidiary undertakings
Premier Plastic Parts Limited England and Wales Ordinary 100
Premier Security Products Limited England and Wales Ordinary 100
Premier Moulding Machinery Limited England and Wales Ordinary 100
EAS Labels Direct Limited England and Wales Ordinary 100
Uniform Precision Tooling Limited England and Wales Ordinary 100
Uniform Tooling Limited England and Wales Ordinary 100
The subsidiary undertakings EAS Labels Direct Limited and Uniform Tooling Limited are dormant companies.
6. Debtors
2023 2022
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 61,191 61,191
Other debtors 5 5
_______ _______
61,196 61,196
_______ _______
7. Creditors: amounts falling due within one year
2023 2022
£ £
Amounts owed to group undertakings and undertakings in which the company has a participating interest 150,008 150,008
_______ _______
Amounts owed to group undertakings includes £149,905 (2022: £149,905) owed to the company's ultimate parent company. This debt is secured by way of a first fixed charge and a first floating charge over all of the assets of the company, both present and future.
8. Called up share capital
Issued, called up and fully paid
2023 2022
No £ No £
Ordinary shares of £ 1.00 each 100 100 100 100
_______ _______ _______ _______
9. Summary audit opinion
The auditor's report for the year dated 10 September 2024 was unqualified.
The senior statutory auditor was Michael Howard Hinkins for and on behalf of Cox Hinkins Audit Services Limited
10. Controlling party
The company is under the control of Data Plastics Limited which owns 95% of the issued share capital.
11. Ultimate parent undertaking
Data Plastics Limited, a company incorporated in England and Wales, is regarded by the directors as being the company's ultimate parent company.