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REGISTERED NUMBER: 00585969 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

Warden Plastics Limited

Warden Plastics Limited (Registered number: 00585969)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Certified Accountants' Report 9

Warden Plastics Limited

Company Information
for the Year Ended 30 June 2024







DIRECTOR: M Barrett





SECRETARY: Mrs T L Barrett





REGISTERED OFFICE: Unit 31
Sundon Industrial Estate
Dencora Way
Luton
Bedfordshire
LU3 3HP





REGISTERED NUMBER: 00585969 (England and Wales)





ACCOUNTANTS: IRT Accountancy Services
Chartered Certified Accountants
3 Johndory
Dosthill
Tamworth
Staffordshire
B77 1NY

Warden Plastics Limited (Registered number: 00585969)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 15,854 19,404
Tangible assets 5 984,100 927,075
999,954 946,479

CURRENT ASSETS
Stocks 166,253 149,738
Debtors 6 364,574 563,601
Cash at bank and in hand 98,596 216,743
629,423 930,082
CREDITORS
Amounts falling due within one year 7 801,125 882,123
NET CURRENT (LIABILITIES)/ASSETS (171,702 ) 47,959
TOTAL ASSETS LESS CURRENT
LIABILITIES

828,252

994,438

CREDITORS
Amounts falling due after more than one
year

8

(141,043

)

(228,538

)

PROVISIONS FOR LIABILITIES (111,675 ) (126,414 )
NET ASSETS 575,534 639,486

CAPITAL AND RESERVES
Called up share capital 766 766
Capital redemption reserve 521 521
Retained earnings 574,247 638,199
SHAREHOLDERS' FUNDS 12 575,534 639,486

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Warden Plastics Limited (Registered number: 00585969)

Balance Sheet - continued
30 June 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 director and authorised for issue on 20 November 2024 and were signed by:





M Barrett - Director


Warden Plastics Limited (Registered number: 00585969)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

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

The company recognises revenue when significant risks and rewards of ownership of the goods have been transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods.

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.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - in accordance with the property
Plant and machinery etc - 33% on cost, 25% on reducing balance, 15% on cost and at varying rates on cost

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Loans and borrowings

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Warden Plastics Limited (Registered number: 00585969)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

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.

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 year 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

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 20 (2023 - 20 ) .

Warden Plastics Limited (Registered number: 00585969)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 July 2023 72,359
Additions 1,172
At 30 June 2024 73,531
AMORTISATION
At 1 July 2023 52,955
Charge for year 4,722
At 30 June 2024 57,677
NET BOOK VALUE
At 30 June 2024 15,854
At 30 June 2023 19,404

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 July 2023 72,213 2,853,309 2,925,522
Additions - 197,893 197,893
Disposals - (131,883 ) (131,883 )
At 30 June 2024 72,213 2,919,319 2,991,532
DEPRECIATION
At 1 July 2023 51,586 1,946,861 1,998,447
Charge for year 3,439 136,581 140,020
Eliminated on disposal - (131,035 ) (131,035 )
At 30 June 2024 55,025 1,952,407 2,007,432
NET BOOK VALUE
At 30 June 2024 17,188 966,912 984,100
At 30 June 2023 20,627 906,448 927,075

Warden Plastics Limited (Registered number: 00585969)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 July 2023 146,920
Additions 35,411
At 30 June 2024 182,331
DEPRECIATION
At 1 July 2023 40,281
Charge for year 19,806
At 30 June 2024 60,087
NET BOOK VALUE
At 30 June 2024 122,244
At 30 June 2023 106,639

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 324,924 479,692
Other debtors 39,650 83,909
364,574 563,601

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 50,000 50,000
Hire purchase contracts 30,059 29,316
Trade creditors 400,278 278,443
Taxation and social security 72,561 46,545
Other creditors 248,227 477,819
801,125 882,123

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Bank loans 87,500 137,500
Hire purchase contracts 44,720 54,683
Other creditors 8,823 36,355
141,043 228,538

Warden Plastics Limited (Registered number: 00585969)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

30.6.24 30.6.23
£    £   
Bank loans 137,500 187,500
Factoring agreement 169,374 381,998
Hire purchase contracts 74,779 83,999
381,653 653,497

The company has allowed a fixed and floating charge over the company's assets, as collateral for the bank and factoring company borrowings.

Hire purchase agreements are secured against the assets to which they relate.

10. OTHER FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £478,923 (2023 - £93,142), of which £475,175 (2023 - £81,926) relates to property rental commitments.

11. RELATED PARTY DISCLOSURES

During year ended 30 June 2023, the company repurchased 80 Ordinary shares, 100 D Ordinary shares and 100 E Ordinary shares, for a total value of £130,000.

12. RECONCILIATION OF MOVEMENTS IN SHAREHOLDERS' FUNDS
30.6.24 30.6.23
£    £   
(Loss)/profit for the financial year (58,952 ) 806
Dividends (5,000 ) (5,000 )
(63,952 ) (4,194 )
Payments to acquire own shares - (130,000 )
Opening shareholder funds - 773,680
Net (reduction)/addition to shareholders' funds (63,952 ) 639,486
Opening shareholders' funds 639,486 -
Closing shareholders' funds 575,534 639,486

Chartered Certified Accountants' Report to the Director
on the Unaudited Financial Statements of
Warden Plastics Limited

The following reproduces the text of the report prepared for the director 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 Statement of Comprehensive Income and certain other primary statements and the Report of the Director 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 Warden Plastics Limited for the year ended 30 June 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of Warden Plastics Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Warden Plastics Limited and state those matters that we have agreed to state to the director of Warden Plastics Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Warden 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 Warden Plastics Limited. You consider that Warden Plastics Limited is exempt from the statutory audit requirement for the year.

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






IRT Accountancy Services
Chartered Certified Accountants
3 Johndory
Dosthill
Tamworth
Staffordshire
B77 1NY


20 November 2024