IRIS Accounts Production v24.3.0.553 04246927 Board of Directors 1.4.23 31.3.24 31.3.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh042469272023-03-31042469272024-03-31042469272023-04-012024-03-31042469272022-03-31042469272022-04-012023-03-31042469272023-03-3104246927ns15:EnglandWales2023-04-012024-03-3104246927ns14:PoundSterling2023-04-012024-03-3104246927ns10:Director12023-04-012024-03-3104246927ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3104246927ns10:SmallEntities2023-04-012024-03-3104246927ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3104246927ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3104246927ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3104246927ns10:FullAccounts2023-04-012024-03-310424692712023-04-012024-03-3104246927ns10:Director22023-04-012024-03-3104246927ns10:RegisteredOffice2023-04-012024-03-3104246927ns5:CurrentFinancialInstruments2024-03-3104246927ns5:CurrentFinancialInstruments2023-03-3104246927ns5:ShareCapital2024-03-3104246927ns5:ShareCapital2023-03-3104246927ns5:RetainedEarningsAccumulatedLosses2024-03-3104246927ns5:RetainedEarningsAccumulatedLosses2023-03-3104246927ns5:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3104246927ns5:PlantMachinery2023-04-012024-03-3104246927ns5:NetGoodwill2023-03-3104246927ns5:NetGoodwill2024-03-3104246927ns5:NetGoodwill2023-03-3104246927ns5:PlantMachinery2023-03-3104246927ns5:PlantMachinery2024-03-3104246927ns5:PlantMachinery2023-03-3104246927ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3104246927ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-31
REGISTERED NUMBER: 04246927 (England and Wales)















R & D Plastics Limited

Unaudited Financial Statements for the Year Ended 31 March 2024






R & D Plastics Limited (Registered number: 04246927)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


R & D Plastics Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: D J Mackenzie
A Mackenzie





REGISTERED OFFICE: 1 High Street
Sheerness
Kent
ME12 1NY





BUSINESS ADDRESS: Unit 4
Queenborough Business Park
Main Road
Queenborough
Kent
ME11 5DY





REGISTERED NUMBER: 04246927 (England and Wales)





ACCOUNTANTS: Foreman Waller
Chartered Accountants
1 High Street
Sheerness
Kent
ME12 1NY

R & D Plastics Limited (Registered number: 04246927)

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Property, plant and equipment 5 8,832 10,877
8,832 10,877

CURRENT ASSETS
Inventories 3,649 3,566
Debtors 6 20,955 39,239
Cash at bank 47,836 129,666
72,440 172,471
CREDITORS
Amounts falling due within one year 7 53,491 155,125
NET CURRENT ASSETS 18,949 17,346
TOTAL ASSETS LESS CURRENT LIABILITIES 27,781 28,223

PROVISIONS FOR LIABILITIES 2,208 2,719
NET ASSETS 25,573 25,504

CAPITAL AND RESERVES
Called up share capital 305 305
Retained earnings 25,268 25,199
SHAREHOLDERS' FUNDS 25,573 25,504

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

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

R & D Plastics Limited (Registered number: 04246927)

Statement of Financial Position - 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 November 2024 and were signed on its behalf by:





D J Mackenzie - Director


R & D Plastics Limited (Registered number: 04246927)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

R & D 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Income recognition
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 20% on cost, 20% on reducing balance, 15% on cost and 15% on reducing balance

Inventories
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The Company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans to and from banks, other third parties and related parties.

Basic financial instruments are recognised at amortised cost, with changes recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted by the statement of financial position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 enacted by the year end.

R & D Plastics Limited (Registered number: 04246927)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position 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 1 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 5,000
AMORTISATION
At 1 April 2023
and 31 March 2024 5,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 52,518
DEPRECIATION
At 1 April 2023 41,641
Charge for year 2,045
At 31 March 2024 43,686
NET BOOK VALUE
At 31 March 2024 8,832
At 31 March 2023 10,877

R & D Plastics Limited (Registered number: 04246927)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 7,094 35,239
Other debtors 13,861 4,000
20,955 39,239

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 12,404 612
Amounts owed to group undertakings 3,926 35,897
Taxation and social security 31,101 114,748
Other creditors 6,060 3,868
53,491 155,125