Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetrue2023-04-01falseNo description of principal activity2121 01396896 2023-04-01 2024-03-31 01396896 2022-04-01 2023-03-31 01396896 2024-03-31 01396896 2023-03-31 01396896 c:Director3 2023-04-01 2024-03-31 01396896 d:PlantMachinery 2023-04-01 2024-03-31 01396896 d:PlantMachinery 2024-03-31 01396896 d:PlantMachinery 2023-03-31 01396896 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 01396896 d:MotorVehicles 2023-04-01 2024-03-31 01396896 d:MotorVehicles 2024-03-31 01396896 d:MotorVehicles 2023-03-31 01396896 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 01396896 d:FurnitureFittings 2023-04-01 2024-03-31 01396896 d:FurnitureFittings 2024-03-31 01396896 d:FurnitureFittings 2023-03-31 01396896 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 01396896 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 01396896 d:CurrentFinancialInstruments 2024-03-31 01396896 d:CurrentFinancialInstruments 2023-03-31 01396896 d:Non-currentFinancialInstruments 2024-03-31 01396896 d:Non-currentFinancialInstruments 2023-03-31 01396896 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 01396896 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 01396896 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 01396896 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 01396896 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-03-31 01396896 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 01396896 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 01396896 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 01396896 d:ShareCapital 2024-03-31 01396896 d:ShareCapital 2023-03-31 01396896 d:RetainedEarningsAccumulatedLosses 2024-03-31 01396896 d:RetainedEarningsAccumulatedLosses 2023-03-31 01396896 c:FRS102 2023-04-01 2024-03-31 01396896 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 01396896 c:FullAccounts 2023-04-01 2024-03-31 01396896 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 01396896 d:WithinOneYear 2024-03-31 01396896 d:WithinOneYear 2023-03-31 01396896 d:BetweenOneFiveYears 2024-03-31 01396896 d:BetweenOneFiveYears 2023-03-31 01396896 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 01396896 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 iso4217:GBP xbrli:pure

01396896







GARD PLASTICASES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED
31 MARCH 2024

































GARD PLASTICASES LIMITED
REGISTERED NUMBER:01396896

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible fixed assets
 5 
377,233
309,982

Current assets
  

Stocks
  
351,680
370,567

Debtors: amounts falling due within one year
 6 
939,438
1,007,548

Bank and cash balances
  
333,643
391,979

  
1,624,761
1,770,094

Creditors: amounts falling due within one year
 7 
(419,070)
(702,169)

Net current assets
  
 
 
1,205,691
 
 
1,067,925

Total assets less current liabilities
  
1,582,924
1,377,907

Creditors: amounts falling due after more than one year
 8 
(15,661)
(25,780)

Provisions for liabilities
  

Deferred tax
 10 
(79,440)
(71,483)

  
 
 
(79,440)
 
 
(71,483)

Net assets
  
1,487,823
1,280,644


Capital and reserves
  

Called up share capital 
  
10,000
10,000

Profit and loss account
  
1,477,823
1,270,644

  
1,487,823
1,280,644


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.

Page 1

GARD PLASTICASES LIMITED
REGISTERED NUMBER:01396896
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




S.G. Tickle
Director

Date: 26 November 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

GARD PLASTICASES LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Gard Plasticases Limited ("the Company") is a limited company domiciled and incorporated in England.
The address of the Company's registered office and principal place of business is The Arnold Business Park, Branbridges Road, East Peckham Tonbridge, Kent, TN12 5LG.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).

The financial statements have been presented in Pounds Sterling rounded to the nearest £1.

The following principal accounting policies have been applied:

 
2.2

Revenue

Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.
Revenue is recognised when customer orders are completed and invoiced.

 
2.3

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Plant and machinery
-
7 years on a straight line basis
Motor vehicles
-
4 years on a straight line basis
Fixtures and fittings
-
4-7 years on a straight line basis

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.

Page 3

GARD PLASTICASES LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

Stocks

Stocks are stated at the lower of cost and net realisable value after making due allowances for obsolete and slow moving stock. 
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.

 
2.5

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.

 
2.6

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.  

 
2.7

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.

 
2.8

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.9

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 4

GARD PLASTICASES LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.10

 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.

 
2.11

 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.


3.


Judgements in applying accounting policies and key sources of estimation uncertainty

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. 


4.


Employees

The average monthly number of employees, including directors, during the year was 21 (2023 -21).

Page 5

GARD PLASTICASES LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£



Cost or valuation


At 1 April 2023
1,113,265
45,721
272,486
1,431,472


Additions
92,538
-
45,459
137,997


Disposals
(16,101)
-
(47,354)
(63,455)



At 31 March 2024

1,189,702
45,721
270,591
1,506,014



Depreciation


At 1 April 2023
864,444
45,721
211,325
1,121,490


Charge for the year on owned assets
58,798
-
11,948
70,746


Disposals
(16,101)
-
(47,354)
(63,455)



At 31 March 2024

907,141
45,721
175,919
1,128,781



Net book value



At 31 March 2024
282,561
-
94,672
377,233



At 31 March 2023
248,821
-
61,161
309,982


6.


Debtors

2024
2023
£
£


Trade debtors
321,574
409,415

Amounts owed by group undertakings
568,933
582,055

Other debtors
22,865
830

Prepayments and accrued income
26,066
15,248

939,438
1,007,548


Page 6

GARD PLASTICASES LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,951
9,870

Trade creditors
108,777
175,222

Amounts owed to group undertakings
42,835
103,805

Corporation tax
20,648
37,424

Other taxation and social security
68,871
97,780

Other creditors
82,404
160,720

Accruals and deferred income
84,584
117,348

419,070
702,169




8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
15,661
25,780


The Company drew down on a loan during 2020 which was facilitated by the Government's Bounce Back Loan scheme. The loan is repayable over the course of six years at an interest rate of 2.5%.  The loan was interest free for the first 12 months.  


9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
10,951
9,870

Amounts falling due 1-2 years

Bank loans
10,375
10,119

Amounts falling due 2-5 years

Bank loans
5,286
15,661


26,612
35,650



10.


Deferred taxation

Page 7

GARD PLASTICASES LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
 
10.Deferred taxation (continued)




2024


£






At beginning of year
(71,483)


Charged to profit or loss
(7,957)



At end of year
(79,440)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
79,440
71,483


11.


Contingent liabilities

The bank loan in the parent company, Gard Holdings Limited, of £169,810 is partly secured by a guarantee of £650,000 from Gard Plasticases Limited. 


12.


Commitments under operating leases

At 31 March 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
23,543
23,385

Later than 1 year and not later than 5 years
16,592
27,063

40,135
50,448

 
Page 8