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REGISTERED NUMBER: 06495618 (England and Wales)















Redi Plastics Limited

Unaudited Financial Statements

for the Year Ended 31 March 2024






Redi Plastics Limited (Registered number: 06495618)






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 Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: K J Thomas
S L Jones-Thomas





SECRETARY: S L Jones-Thomas





REGISTERED OFFICE: Llechwedd, Capel Iwan
Newcastle Emlyn
Dyfed
SA38 9NW





REGISTERED NUMBER: 06495618 (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 Limited (Registered number: 06495618)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 62,587 149,761
62,587 149,761

CURRENT ASSETS
Stocks 183,374 132,710
Debtors 6 485,336 400,663
Cash at bank and in hand 38,527 141,607
707,237 674,980
CREDITORS
Amounts falling due within one year 7 330,944 359,908
NET CURRENT ASSETS 376,293 315,072
TOTAL ASSETS LESS CURRENT
LIABILITIES

438,880

464,833

CREDITORS
Amounts falling due after more than one year 8 (26,691 ) (86,711 )

PROVISIONS FOR LIABILITIES (12,516 ) (14,034 )
NET ASSETS 399,673 364,088

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 399,672 364,087
399,673 364,088

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.

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 28 January 2025 and were signed on its behalf by:



K J Thomas - Director


Redi Plastics Limited (Registered number: 06495618)

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

1. STATUTORY INFORMATION

Redi 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.

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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of five years.

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 each asset over its estimated useful life.
Short leasehold - the period of the lease
Long leasehold - the period of the lease
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 20 - 25% on cost
Computer equipment - 25% on reducing balance

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 5 ) .

Redi Plastics Limited (Registered number: 06495618)

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 69,949
AMORTISATION
At 1 April 2023
and 31 March 2024 69,949
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Short Long Plant and
leasehold leasehold machinery
£    £    £   
COST
At 1 April 2023 2,765 2,298 21,334
Additions - - -
Disposals - - -
At 31 March 2024 2,765 2,298 21,334
DEPRECIATION
At 1 April 2023 1,844 1,532 7,444
Charge for year 921 766 3,472
Eliminated on disposal - - -
At 31 March 2024 2,765 2,298 10,916
NET BOOK VALUE
At 31 March 2024 - - 10,418
At 31 March 2023 921 766 13,890

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 81,040 128,095 7,890 243,422
Additions - 20,320 801 21,121
Disposals - (96,945 ) - (96,945 )
At 31 March 2024 81,040 51,470 8,691 167,598
DEPRECIATION
At 1 April 2023 48,707 31,558 2,576 93,661
Charge for year 8,084 25,469 1,472 40,184
Eliminated on disposal - (28,834 ) - (28,834 )
At 31 March 2024 56,791 28,193 4,048 105,011
NET BOOK VALUE
At 31 March 2024 24,249 23,277 4,643 62,587
At 31 March 2023 32,333 96,537 5,314 149,761

Redi Plastics Limited (Registered number: 06495618)

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

5. TANGIBLE FIXED ASSETS - continued

Included within motor vehicles are assets on HP. The assets cost £16,650 (2023: £95,600) and have a net book value of £nil (2023: £79,926) at the year end. Depreciation of £722 was charged in the year.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 91,207 47,932
Amounts owed by related parties 389,319 313,004
Other debtors 4,810 39,727
485,336 400,663

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 19,992 20,000
Hire purchase contracts 625 16,488
Trade creditors 187,533 217,904
Amounts owed by related parties 56,318 56,318
Taxation and social security 63,502 33,233
Other creditors 2,974 15,965
330,944 359,908

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans 26,691 46,675
Hire purchase contracts - 40,036
26,691 86,711

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 46,683 66,675
Hire purchase contracts 625 56,524
47,308 123,199

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is K&S Cymru Group Limited.