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REGISTERED NUMBER: 01928992 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Pyramid Plastics UK Limited

Pyramid Plastics UK Limited (Registered number: 01928992)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Pyramid Plastics UK Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: B J Bowser
Ms K J Wilkes
A W Bowser





SECRETARY: A Bowser





REGISTERED OFFICE: Unit 22
Corringham Rd Ind Est
Gainsborough
Lincolnshire
DN21 1QB





REGISTERED NUMBER: 01928992 (England and Wales)





ACCOUNTANTS: ABC Accounting Services
1 Willoughton Place
Wharton Close
Gainsborough
Lincolnshire
DN21 1EB

Pyramid Plastics UK Limited (Registered number: 01928992)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 236,721 120,793
236,721 120,793

CURRENT ASSETS
Stocks 716,942 706,815
Debtors 6 72,145 98,098
Cash at bank and in hand 189,190 204,496
978,277 1,009,409
CREDITORS
Amounts falling due within one year 7 315,900 289,289
NET CURRENT ASSETS 662,377 720,120
TOTAL ASSETS LESS CURRENT
LIABILITIES

899,098

840,913

CREDITORS
Amounts falling due after more than one
year

8

-

(20,058

)

PROVISIONS FOR LIABILITIES (11,020 ) (4,745 )
NET ASSETS 888,078 816,110

CAPITAL AND RESERVES
Called up share capital 10 25,000 25,000
Retained earnings 11 863,078 791,110
SHAREHOLDERS' FUNDS 888,078 816,110

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

Pyramid Plastics UK Limited (Registered number: 01928992)

Balance Sheet - continued
31 December 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 September 2024 and were signed on its behalf by:





Ms K J Wilkes - Director


Pyramid Plastics UK Limited (Registered number: 01928992)

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

1. STATUTORY INFORMATION

Pyramid Plastics UK 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.

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 represents the invoiced sales of goods, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of five 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.
Freehold property - 4% on cost
Plant and machinery - 25% on reducing balance

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 Income Statement, 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 16 (2022 - 15 ) .

Pyramid Plastics UK Limited (Registered number: 01928992)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 5,115
AMORTISATION
At 1 January 2023
and 31 December 2023 5,115
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

5. TANGIBLE FIXED ASSETS
Freehold Plant and
property machinery Totals
£    £    £   
COST
At 1 January 2023 230,936 220,922 451,858
Additions 109,091 36,651 145,742
At 31 December 2023 340,027 257,573 597,600
DEPRECIATION
At 1 January 2023 138,508 192,557 331,065
Charge for year 11,951 17,863 29,814
At 31 December 2023 150,459 210,420 360,879
NET BOOK VALUE
At 31 December 2023 189,568 47,153 236,721
At 31 December 2022 92,428 28,365 120,793

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 25,474 36,206
Other debtors 1,606 1,606
R & D tax credit 36,327 39,181
Prepayments 8,738 21,105
72,145 98,098

Pyramid Plastics UK Limited (Registered number: 01928992)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts - 7,857
Trade creditors 132,753 97,018
Credit card 2,624 1,918
Corporation tax 31,368 49,742
Social security and other taxes 35,587 20,778
Other creditors 89,303 87,398
Directors' current accounts 15,000 15,000
Accrued expenses 9,265 9,578
315,900 289,289

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans repayable 2-5 years
by instalments - 20,058
- 20,058

9. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank loans - 27,915

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
25,000 Ordinary £1 25,000 25,000

11. RESERVES
Retained
earnings
£   

At 1 January 2023 791,110
Profit for the year 144,309
Dividends (72,341 )
At 31 December 2023 863,078

12. ULTIMATE CONTROLLING PARTY

The company is controlled by the directors and family members. As at the year end the directors were owed £15,000, (2022, £15,000).