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REGISTERED NUMBER: 06495100 (England and Wales)















Redi Plastics Group (Cymru) Limited

Unaudited Financial Statements

for the Year Ended 31 March 2024






Redi Plastics Group (Cymru) Limited (Registered number: 06495100)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Redi Plastics Group (Cymru) Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: K J Thomas





SECRETARY: S L Jones-Thomas





REGISTERED OFFICE: Llechwedd Office
Capel Iwan
Newcastle Emlyn
SA38 9NW





REGISTERED NUMBER: 06495100 (England and Wales)





ACCOUNTANTS: Xeinadin South Wales & West Limited
Accountants & Business Advisors
Highdale House
7 Centre Court
Treforest Industrial Estate
Pontypridd
Rhondda Cynon Taff
CF37 5YR

Redi Plastics Group (Cymru) Limited (Registered number: 06495100)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 230,161 706,898
Investments 5 1 1
230,162 706,899

CURRENT ASSETS
Debtors 6 286,901 4,905

CREDITORS
Amounts falling due within one year 7 517,213 516,717
NET CURRENT LIABILITIES (230,312 ) (511,812 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(150

)

195,087

CREDITORS
Amounts falling due after more than one year 8 - 192,829
NET (LIABILITIES)/ASSETS (150 ) 2,258

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (152 ) 2,256
(150 ) 2,258

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 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.

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 27 January 2025 and were signed by:





K J Thomas - Director


Redi Plastics Group (Cymru) Limited (Registered number: 06495100)

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

1. STATUTORY INFORMATION

Redi Plastics Group (Cymru) 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.

Preparation of consolidated financial statements
The financial statements contain information about Redi Plastics Group (Cymru) Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Fixtures and fittings - 20% on cost

Depreciation is applied from the year following acquisition to cost less expected residual value.

Investments
Other investments represent the ownership of share capital in the company's subsidiary. The amount was initially recognised at cost and is assessed every year.

Going concern
The Director believes that despite the net current liabilities position the company should be treated as a going concern.The Director considers that there are sufficient funds accessible to the company to enable it to meet its liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

Redi Plastics Group (Cymru) Limited (Registered number: 06495100)

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

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and
property fittings Totals
£    £    £   
COST
At 1 April 2023 698,750 8,686 707,436
Disposals (475,000 ) - (475,000 )
At 31 March 2024 223,750 8,686 232,436
DEPRECIATION
At 1 April 2023 - 538 538
Charge for year - 1,737 1,737
At 31 March 2024 - 2,275 2,275
NET BOOK VALUE
At 31 March 2024 223,750 6,411 230,161
At 31 March 2023 698,750 8,148 706,898

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 April 2023
and 31 March 2024 1
NET BOOK VALUE
At 31 March 2024 1
At 31 March 2023 1

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Amounts owed by related parties 286,901 4,905

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Amounts owed to related parties 479,495 413,259
Other creditors 37,718 103,458
517,213 516,717

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans - 192,829

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst - 192,829