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REGISTERED NUMBER: 04858657 (England and Wales)














PLASTIC SUPPLIES DUDLEY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1ST OCTOBER 2022 TO 31ST MARCH 2024






PLASTIC SUPPLIES DUDLEY LIMITED (REGISTERED NUMBER: 04858657)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1ST OCTOBER 2022 TO 31ST MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PLASTIC SUPPLIES DUDLEY LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1ST OCTOBER 2022 TO 31ST MARCH 2024







DIRECTORS: T J Loverock
J B Loverock





SECRETARY: T J Loverock





REGISTERED OFFICE: Units 4 & 5
Breener Industrial Estate
Station Drive
Brierley Hill
West Midlands
DY5 3JZ





REGISTERED NUMBER: 04858657 (England and Wales)

PLASTIC SUPPLIES DUDLEY LIMITED (REGISTERED NUMBER: 04858657)

BALANCE SHEET
31ST MARCH 2024

2024 2022
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 727,729 679,776

CURRENT ASSETS
Stocks 5 110,478 130,031
Debtors 6 339,948 233,930
Cash at bank - 10,679
450,426 374,640
CREDITORS
Amounts falling due within one year 7 759,274 560,462
NET CURRENT LIABILITIES (308,848 ) (185,822 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

418,881

493,954

CREDITORS
Amounts falling due after more than one
year

8

(232,373

)

(282,441

)

PROVISIONS FOR LIABILITIES 10 (137,807 ) (128,538 )
NET ASSETS 48,701 82,975

CAPITAL AND RESERVES
Called up share capital 11 1,000 1,000
Retained earnings 47,701 81,975
SHAREHOLDERS' FUNDS 48,701 82,975

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

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

PLASTIC SUPPLIES DUDLEY LIMITED (REGISTERED NUMBER: 04858657)

BALANCE SHEET - continued
31ST 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 23rd December 2024 and were signed on its behalf by:





T J Loverock - Director


PLASTIC SUPPLIES DUDLEY LIMITED (REGISTERED NUMBER: 04858657)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1ST OCTOBER 2022 TO 31ST MARCH 2024

1. STATUTORY INFORMATION

Plastic Supplies Dudley 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 provisions of section 1A "small entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The accounts have been prepared on a going concern basis. The director confirms he will ensure sufficient finance will be made available to the company to enable it to meet its obligations as they fall due.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation. Costs include costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided at the following 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.

Improvements to property - 10% on reducing balance
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 10% on reducing balance

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.

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.


PLASTIC SUPPLIES DUDLEY LIMITED (REGISTERED NUMBER: 04858657)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1ST OCTOBER 2022 TO 31ST MARCH 2024

2. ACCOUNTING POLICIES - continued
Taxation
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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


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.

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 12 (2022 - 12 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Improvements Plant and and Motor
to property machinery fittings vehicles Totals
£ £ £ £ £
COST
At 1st October 2022 4,215 1,298,196 35,292 109,669 1,447,372
Additions - 193,785 1,359 - 195,144
At 31st March 2024 4,215 1,491,981 36,651 109,669 1,642,516
DEPRECIATION
At 1st October 2022 3,644 704,462 20,433 39,057 767,596
Charge for period 87 118,182 2,441 26,481 147,191
At 31st March 2024 3,731 822,644 22,874 65,538 914,787
NET BOOK VALUE
At 31st March 2024 484 669,337 13,777 44,131 727,729
At 30th September 2022 571 593,734 14,859 70,612 679,776

The net book value of tangible fixed assets includes £ 342,120 (2022 - £ 359,800 ) in respect of assets held under hire purchase contracts.

PLASTIC SUPPLIES DUDLEY LIMITED (REGISTERED NUMBER: 04858657)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1ST OCTOBER 2022 TO 31ST MARCH 2024

5. STOCKS
2024 2022
£ £
Stocks 54,525 53,476
Work-in-progress 55,953 76,555
110,478 130,031

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2022
£ £
Trade debtors 270,654 206,854
Directors' current accounts 47,116 -
Prepayments 22,178 27,076
339,948 233,930

Trade debtors are assigned to a factoring company.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2022
£ £
Bank loans and overdrafts 24,273 20,000
Hire purchase contracts 116,970 80,421
Trade creditors 274,175 206,809
Tax 13 6,027
Social security and other taxes 50,316 47,792
Other creditors 3,988 2,546
Due to factoring company 215,332 146,786
Directors' current accounts - 8,214
Accruals and deferred income 33,504 11,805
Deferred government grants 40,703 30,062
759,274 560,462

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2022
£ £
Bank loans more than 1 year 23,333 53,333
Hire purchase contracts 183,282 163,696
Other creditors 25,758 65,412
232,373 282,441

PLASTIC SUPPLIES DUDLEY LIMITED (REGISTERED NUMBER: 04858657)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1ST OCTOBER 2022 TO 31ST MARCH 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2022
£ £
Bank overdraft 4,273 -
Bank loans 43,333 73,333
Hire purchase contracts 300,252 244,117
347,858 317,450

The amount due to the factoring company is secured on certain trade debts of the company.

The amounts due under hire purchase contracts are secured against the assets concerned, and the bank overdraft is secured against other certain assets of the company.

10. PROVISIONS FOR LIABILITIES
2024 2022
£ £
Deferred tax 137,807 128,538

Deferred tax
£
Balance at 1st October 2022 128,538
Provided during period 9,269
Balance at 31st March 2024 137,807

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2022
value: £ £
1,000 Ordinary £1 1,000 1,000

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 31st March 2024 and the year ended 30th September 2022:

2024 2022
£ £
T J Loverock
Balance outstanding at start of period - -
Amounts advanced 47,116 31,298
Amounts repaid - (31,298 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period 47,116 -

During the year interest of £207 (2022 £167) was charged on the above overdrawn loan account.