Plastil (UK) Ltd. 02546345 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is the extrusion of plastic profiles Digita Accounts Production Advanced 6.30.9574.0 true true true 02546345 2023-01-01 2023-12-31 02546345 2023-12-31 02546345 bus:OrdinaryShareClass1 2023-12-31 02546345 core:CurrentFinancialInstruments 2023-12-31 02546345 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 02546345 core:FurnitureFittings 2023-12-31 02546345 core:LandBuildings core:OwnedOrFreeholdAssets 2023-12-31 02546345 core:PlantMachinery 2023-12-31 02546345 bus:SmallEntities 2023-01-01 2023-12-31 02546345 bus:Audited 2023-01-01 2023-12-31 02546345 bus:AbridgedAccounts 2023-01-01 2023-12-31 02546345 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 02546345 bus:RegisteredOffice 2023-01-01 2023-12-31 02546345 bus:Director1 2023-01-01 2023-12-31 02546345 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 02546345 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 02546345 core:PatentsTrademarksLicencesConcessionsSimilar 2023-01-01 2023-12-31 02546345 core:Buildings 2023-01-01 2023-12-31 02546345 core:FurnitureFittings 2023-01-01 2023-12-31 02546345 core:Land 2023-01-01 2023-12-31 02546345 core:LandBuildings core:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 02546345 core:MotorVehicles 2023-01-01 2023-12-31 02546345 core:PlantMachinery 2023-01-01 2023-12-31 02546345 core:AllAssociates 2023-01-01 2023-12-31 02546345 core:AllAssociates core:RenderingOrReceivingServices 2023-01-01 2023-12-31 02546345 core:AllAssociates core:SaleOrPurchaseGoods 2023-01-01 2023-12-31 02546345 core:ParentEntities 2023-01-01 2023-12-31 02546345 core:ParentEntities core:RenderingOrReceivingServices 2023-01-01 2023-12-31 02546345 core:ParentEntities core:SaleOrPurchaseGoods 2023-01-01 2023-12-31 02546345 1 2023-01-01 2023-12-31 02546345 countries:England 2023-01-01 2023-12-31 02546345 2022-12-31 02546345 core:FurnitureFittings 2022-12-31 02546345 core:LandBuildings core:OwnedOrFreeholdAssets 2022-12-31 02546345 core:PlantMachinery 2022-12-31 02546345 2022-01-01 2022-12-31 02546345 2022-12-31 02546345 bus:OrdinaryShareClass1 2022-12-31 02546345 core:CurrentFinancialInstruments 2022-12-31 02546345 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 02546345 core:FurnitureFittings 2022-12-31 02546345 core:LandBuildings core:OwnedOrFreeholdAssets 2022-12-31 02546345 core:PlantMachinery 2022-12-31 02546345 core:AllAssociates 2022-01-01 2022-12-31 02546345 core:AllAssociates core:RenderingOrReceivingServices 2022-01-01 2022-12-31 02546345 core:AllAssociates core:SaleOrPurchaseGoods 2022-01-01 2022-12-31 02546345 core:ParentEntities 2022-01-01 2022-12-31 02546345 core:ParentEntities core:RenderingOrReceivingServices 2022-01-01 2022-12-31 02546345 core:ParentEntities core:SaleOrPurchaseGoods 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 02546345

Plastil (UK) Ltd.

Filleted Abridged Financial Statements

for the Year Ended 31 December 2023

 

Plastil (UK) Ltd.

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Abridged Financial Statements

4 to 11

 

Plastil (UK) Ltd.

Company Information

Director

Mr Christophe Jacques Dominique Legeais

Registered office

Stafford Park 4
Telford
Shropshire
TF3 3BA

Auditors

Walker Hubble
Registered Auditor
5 Parsons Street
Dudley
West Midlands
DY1 1JJ

 

Plastil (UK) Ltd.

(Registration number: 02546345)
Abridged Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

5,700

8,481

Tangible assets

5

342,310

365,799

 

348,010

374,280

Current assets

 

Stocks

6

304,309

301,386

Debtors

7

190,851

233,864

Cash at bank and in hand

 

125,030

167,173

 

620,190

702,423

Prepayments and accrued income

 

9,945

8,732

Creditors: Amounts falling due within one year

(182,091)

(194,768)

Net current assets

 

448,044

516,387

Total assets less current liabilities

 

796,054

890,667

Accruals and deferred income

 

(12,772)

(19,364)

Net assets

 

783,282

871,303

Capital and reserves

 

Called up share capital

8

558,333

558,333

Retained earnings

224,949

312,970

Shareholders' funds

 

783,282

871,303

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

 

Plastil (UK) Ltd.

(Registration number: 02546345)
Abridged Balance Sheet as at 31 December 2023

Approved and authorised by the director on 17 September 2024
 

.........................................
Mr Christophe Jacques Dominique Legeais
Director

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

 

Plastil (UK) Ltd.

Notes to the Abridged Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Stafford Park 4
Telford
Shropshire
TF3 3BA

These financial statements were authorised for issue by the director on 17 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Audit report

The Independent Auditor's Report was unqualified. . The name of the Senior Statutory Auditor who signed the audit report on 17 September 2024 was Gavin Pearson, who signed for and on behalf of Walker Hubble.

.........................................

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Plastil (UK) Ltd.

Notes to the Abridged Financial Statements for the Year Ended 31 December 2023

Foreign currency transactions and balances

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange prevailing at the accounting date. Transactions in foreign currencies are recorded at the date of the transactions, All differences are taken to the Statement of Income and Retained Earnings account.

Tax

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

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land

0%

Buildings

Straight line over 20 years

Plant and machinery

10% - 33.33% straight line

Fixtures and fittings

10% - 25% straight line

Motor vehicles

25% straight line

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

 

Plastil (UK) Ltd.

Notes to the Abridged Financial Statements for the Year Ended 31 December 2023

Asset class

Amortisation method and rate

Patents

10% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Plastil (UK) Ltd.

Notes to the Abridged Financial Statements for the Year Ended 31 December 2023

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 18 (2022 - 17).

 

Plastil (UK) Ltd.

Notes to the Abridged Financial Statements for the Year Ended 31 December 2023

4

Intangible assets

Total
£

Cost or valuation

At 1 January 2023

58,046

Additions acquired separately

2,910

At 31 December 2023

60,956

Amortisation

At 1 January 2023

49,565

Amortisation charge

5,691

At 31 December 2023

55,256

Carrying amount

At 31 December 2023

5,700

At 31 December 2022

8,481

5

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 January 2023

1,158,401

43,868

1,071,898

2,274,167

Additions

-

4,764

4,527

9,291

At 31 December 2023

1,158,401

48,632

1,076,425

2,283,458

Depreciation

At 1 January 2023

825,109

42,532

1,040,727

1,908,368

Charge for the year

20,042

1,121

11,617

32,780

At 31 December 2023

845,151

43,653

1,052,344

1,941,148

Carrying amount

At 31 December 2023

313,250

4,979

24,081

342,310

At 31 December 2022

333,292

1,336

31,171

365,799

Included within the net book value of land and buildings above is £313,251 (2022 - £333,293) in respect of freehold land and buildings.
 

 

Plastil (UK) Ltd.

Notes to the Abridged Financial Statements for the Year Ended 31 December 2023

6

Stocks

2023
£

2022
£

Raw materials and consumables

276,868

259,196

Finished goods and goods for resale

27,441

42,190

304,309

301,386

7

Debtors

Debtors includes £21,641 (2022 - £21,641) due after more than one year.

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

558,333

558,333

558,333

558,333

         
 

Plastil (UK) Ltd.

Notes to the Abridged Financial Statements for the Year Ended 31 December 2023

9

Related party transactions

Director's remuneration

The director's remuneration for the year was as follows:

2023
£

2022
£

Remuneration

40,466

39,394

Contributions paid to money purchase schemes

1,027

994

41,493

40,388

Summary of transactions with parent

Plastil Holdings SAS
 Management fees
 

Summary of transactions with associates

Sale of goods and purchases of goods
 

Income and receivables from related parties

2023

Associates
£

Sale of goods

146

2022

Associates
£

Sale of goods

20,057

Expenditure with and payables to related parties

2023

Parent
£

Associates
£

Purchase of goods

-

127,745

Rendering of services

(2,090)

-

(2,090)

127,745

2022

Parent
£

Associates
£

Purchase of goods

-

125,017

Rendering of services

2,634

-

2,634

125,017

 

Plastil (UK) Ltd.

Notes to the Abridged Financial Statements for the Year Ended 31 December 2023

10

Parent and ultimate parent undertaking

The company's immediate parent is Plastil Holdings SAS, incorporated in France.

  These financial statements are available upon request from Les Dolomites, 58 rue Roger Salengro, 94120, Fontenay sous Bois, France.