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REGISTERED NUMBER: 01047963 (England and Wales)















Unaudited Cessation Financial Statements

for the Period

1 September 2023 to 31 March 2024

for

Markfield Plastics Limited

Markfield Plastics Limited (Registered number: 01047963)

Contents of the Financial Statements
for the Period 1 September 2023 to 31 March 2024










Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


Markfield Plastics Limited

Company Information
for the Period 1 September 2023 to 31 March 2024







DIRECTORS: K Tarry
K L Wood
D M Harding





REGISTERED OFFICE: Charnwood House
Harcourt Way
Meridian Business Park
Leicestershire
LE19 1WP





REGISTERED NUMBER: 01047963 (England and Wales)





ACCOUNTANTS: The Rowleys Partnership Ltd
Chartered Accountants
Charnwood House
Harcourt Way
Meridian Business Park
Leicester
Leicestershire
LE19 1WP

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Markfield Plastics 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 Markfield Plastics Limited for the period ended 31 March 2024 which comprise the Income Statement, 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Markfield Plastics 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 Markfield Plastics Limited and state those matters that we have agreed to state to the Board of Directors of Markfield Plastics Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Markfield Plastics Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Markfield Plastics 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 loss of Markfield Plastics Limited. You consider that Markfield Plastics Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Markfield Plastics 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.






The Rowleys Partnership Ltd
Chartered Accountants
Charnwood House
Harcourt Way
Meridian Business Park
Leicester
Leicestershire
LE19 1WP


26 September 2024

Markfield Plastics Limited (Registered number: 01047963)

Balance Sheet
31 March 2024

31.3.24 31.8.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,158 5,402

CURRENT ASSETS
Stocks - 2,402
Debtors 5 17,783 2,915
Cash at bank 64,007 162,611
81,790 167,928
CREDITORS
Amounts falling due within one year 6 4,162 14,284
NET CURRENT ASSETS 77,628 153,644
TOTAL ASSETS LESS CURRENT
LIABILITIES

80,786

159,046

PROVISIONS FOR LIABILITIES 617 886
NET ASSETS 80,169 158,160

CAPITAL AND RESERVES
Called up share capital 7 1,000 1,000
Retained earnings 79,169 157,160
SHAREHOLDERS' FUNDS 80,169 158,160

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2024.

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

Markfield Plastics Limited (Registered number: 01047963)

Balance Sheet - continued
31 March 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2024 and were signed on its behalf by:





K Tarry - Director


Markfield Plastics Limited (Registered number: 01047963)

Notes to the Financial Statements
for the Period 1 September 2023 to 31 March 2024


1. STATUTORY INFORMATION

Markfield Plastics 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 sales of goods net of VAT and trade discounts. Turnover is recognised when the goods are physically delivered to the customer.

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 - 2% on cost
Plant and machinery - 15% reducing balance
Fixtures and fittings - 15% reducing balance
Computer equipment - 33% reducing balance

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Taxation
Taxation for the period 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.


Markfield Plastics Limited (Registered number: 01047963)

Notes to the Financial Statements - continued
for the Period 1 September 2023 to 31 March 2024


2. ACCOUNTING POLICIES - continued
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 period 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.

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 period was 3 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 September 2023 8,894 120,842 326 1,024 131,086
Disposals - (56,192 ) (326 ) (330 ) (56,848 )
At 31 March 2024 8,894 64,650 - 694 74,238
DEPRECIATION
At 1 September 2023 8,204 116,386 308 786 125,684
Charge for period 104 236 - 27 367
Eliminated on disposal - (54,432 ) (308 ) (231 ) (54,971 )
At 31 March 2024 8,308 62,190 - 582 71,080
NET BOOK VALUE
At 31 March 2024 586 2,460 - 112 3,158
At 31 August 2023 690 4,456 18 238 5,402

Markfield Plastics Limited (Registered number: 01047963)

Notes to the Financial Statements - continued
for the Period 1 September 2023 to 31 March 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.8.23
£    £   
Trade debtors - 2,251
Other debtors 4,503 -
Corporation tax 13,280 -
Prepayments - 664
17,783 2,915

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.8.23
£    £   
Trade creditors - 1,188
Corporation tax - 4,147
Social security and other taxes - 3,084
VAT 592 3,200
Directors' current accounts 920 15
Accrued expenses 2,650 2,650
4,162 14,284

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.8.23
value: £    £   
1,000 Ordinary £1 1,000 1,000