Caseware UK (AP4) 2023.0.135 2023.0.135 2024-07-312024-07-31falseNo description of principal activity2023-08-01false33falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04226013 2023-08-01 2024-07-31 04226013 2022-08-01 2023-07-31 04226013 2024-07-31 04226013 2023-07-31 04226013 2022-08-01 04226013 c:Director1 2023-08-01 2024-07-31 04226013 d:PlantMachinery 2023-08-01 2024-07-31 04226013 d:PlantMachinery 2024-07-31 04226013 d:PlantMachinery 2023-07-31 04226013 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 04226013 d:OfficeEquipment 2023-08-01 2024-07-31 04226013 d:OfficeEquipment 2024-07-31 04226013 d:OfficeEquipment 2023-07-31 04226013 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 04226013 d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 04226013 d:CurrentFinancialInstruments 2024-07-31 04226013 d:CurrentFinancialInstruments 2023-07-31 04226013 d:Non-currentFinancialInstruments 2024-07-31 04226013 d:Non-currentFinancialInstruments 2023-07-31 04226013 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-31 04226013 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 04226013 d:ShareCapital 2024-07-31 04226013 d:ShareCapital 2023-07-31 04226013 d:RetainedEarningsAccumulatedLosses 2024-07-31 04226013 d:RetainedEarningsAccumulatedLosses 2023-07-31 04226013 c:FRS102 2023-08-01 2024-07-31 04226013 c:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 04226013 c:FullAccounts 2023-08-01 2024-07-31 04226013 c:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 04226013 d:AcceleratedTaxDepreciationDeferredTax 2024-07-31 04226013 d:AcceleratedTaxDepreciationDeferredTax 2023-07-31 04226013 e:PoundSterling 2023-08-01 2024-07-31 iso4217:GBP xbrli:pure

Registered number: 04226013









B.P.Y. PLASTICS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2024

 
B.P.Y. PLASTICS LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF B.P.Y. PLASTICS LIMITED
FOR THE YEAR ENDED 31 JULY 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of B.P.Y. PLASTICS LIMITED for the year ended 31 July 2024 which comprise the 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 at https://www.icaew.com /regulation.

This report is made solely to the board of directors of B.P.Y. PLASTICS LIMITED, as a body, in accordance with the terms of our engagement letter dated 26 November 2019Our work has been undertaken solely to prepare for your approval the financial statements of B.P.Y. PLASTICS LIMITED and state those matters that we have agreed to state to the board of directors of B.P.Y. PLASTICS LIMITED, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than B.P.Y. PLASTICS LIMITED and its board of directors, as a body, for our work or for this report. 

It is your duty to ensure that B.P.Y. 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 profit of B.P.Y. PLASTICS LIMITED. You consider that B.P.Y. PLASTICS LIMITED is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of B.P.Y. 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 Woodstock Accountancy Practice Limited
 
Chartered Accountants
  
3A Market Place
Woodstock
Oxfordshire
OX20 1SY
30 October 2024
Page 1

 
B.P.Y. PLASTICS LIMITED
REGISTERED NUMBER: 04226013

BALANCE SHEET
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
122,594
138,201

  
122,594
138,201

Current assets
  

Stocks
  
7,600
8,900

Debtors: amounts falling due after more than one year
 5 
50,000
-

Debtors: amounts falling due within one year
 5 
79,820
64,456

Cash at bank and in hand
 6 
95,840
98,432

  
233,260
171,788

Creditors: amounts falling due within one year
 7 
(51,245)
(57,178)

Net current assets
  
 
 
182,015
 
 
114,610

Total assets less current liabilities
  
304,609
252,811

Provisions for liabilities
  

Deferred tax
 8 
(23,293)
(26,102)

  
 
 
(23,293)
 
 
(26,102)

Net assets
  
281,316
226,709

Page 2

 
B.P.Y. PLASTICS LIMITED
REGISTERED NUMBER: 04226013
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2024

2024
2023
Note
£
£

Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
281,216
226,609

  
281,316
226,709


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 October 2024.




P Boyd
Director

The notes on pages 4 to 10 form part of these financial statements.

Page 3

 
B.P.Y. PLASTICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

B.P.Y. Plastics Limited, company registration 04226013 registered in England and Wales
Registered Office; 3a Market Place Place, Woodstock, OX20 1SY
Place of principal activity; Unit J, Lincoln Court, Buckingham Road Ind Estate, Brackley NN13 7BE
The company's principal activity is that of plastic moulding production.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Page 4

 
B.P.Y. PLASTICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge 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.

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

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.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 5

 
B.P.Y. PLASTICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant & machinery
-
15%
reducing balance
Office equipment
-
15%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average 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.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are 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.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 6

 
B.P.Y. PLASTICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.11

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

2024
2023
£
£

Wages and salaries
74,558
67,653

Social security costs
1,440
270

Cost of defined contribution scheme
41,163
41,291

117,161
109,214


The average monthly number of employees, including directors, during the year was 3 (2023 - 3).

Page 7

 
B.P.Y. PLASTICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

4.


Tangible fixed assets





Plant & machinery
Office equipment
Total

£
£
£



Cost or valuation


At 1 August 2023
308,990
9,198
318,188


Additions
3,266
2,230
5,496



At 31 July 2024

312,256
11,428
323,684



Depreciation


At 1 August 2023
174,597
5,390
179,987


Charge for the year on owned assets
20,506
597
21,103



At 31 July 2024

195,103
5,987
201,090



Net book value



At 31 July 2024
117,153
5,441
122,594



At 31 July 2023
134,393
3,808
138,201


5.


Debtors

2024
2023
£
£

Due after more than one year

Amounts owed by group undertakings
50,000
-

50,000
-


2024
2023
£
£

Due within one year

Trade debtors
79,819
64,456

Other debtors
1
-

79,820
64,456


Page 8

 
B.P.Y. PLASTICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
95,840
98,432

95,840
98,432



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
17,341
29,735

Corporation tax
5,398
-

Other taxation and social security
25,502
19,735

Other creditors
3,004
7,708

51,245
57,178



8.


Deferred taxation




2024
2023


£

£






At beginning of year
(26,102)
(17,252)


Charged to profit or loss
2,809
(8,850)



At end of year
(23,293)
(26,102)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(23,293)
(26,102)

(23,293)
(26,102)

Page 9

 
B.P.Y. PLASTICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

9.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £41,163 (2023- £41,291). Contributions totalling £Nil (2023 - £Nil) were payable to the fund at the balance sheet date and are included in creditors.


10.


Related party transactions

At the balance sheet date, the Directors, Mrs S. Boyd and Mr P Boyd, had advanced funds to the company, interest free and unsecured. Details of the balance are set out below and disclosed within Other Creditors; Amounts falling due within one year.


2024
2023
£
£

Mrs S Boyd
3,829
6,050
Mr P Boyd
612
612
4,441
6,662

 
Page 10