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Unaudited Financial Statements for the Year Ended 30 April 2024

for

Plaschem Ltd

Plaschem Ltd (Registered number: SC524764)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Plaschem Ltd

Company Information
for the Year Ended 30 April 2024







DIRECTORS: J K Dunn
T McMillan





REGISTERED OFFICE: 24 Carlyle Avenue
Hillington Park
Glasgow
G52 4XX





REGISTERED NUMBER: SC524764 (Scotland)





ACCOUNTANTS: Ian Macfarlane Limited
Chartered Accountants
2 Melville Street
Falkirk
FK1 1HZ

Plaschem Ltd (Registered number: SC524764)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 479 564

CURRENT ASSETS
Stocks 89,618 -
Debtors 5 1,038,991 1,245,914
Cash at bank and in hand 163,363 156,179
1,291,972 1,402,093
CREDITORS
Amounts falling due within one year 6 1,121,920 1,056,814
NET CURRENT ASSETS 170,052 345,279
TOTAL ASSETS LESS CURRENT
LIABILITIES

170,531

345,843

CREDITORS
Amounts falling due after more than one year 7 45,000 75,000
NET ASSETS 125,531 270,843

CAPITAL AND RESERVES
Called up share capital 9 252 252
Retained earnings 125,279 270,591
SHAREHOLDERS' FUNDS 125,531 270,843

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

Plaschem Ltd (Registered number: SC524764)

Balance Sheet - continued
30 April 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 14 January 2025 and were signed on its behalf by:




T McMillan - Director



J K Dunn - Director


Plaschem Ltd (Registered number: SC524764)

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

1. STATUTORY INFORMATION

Plaschem Ltd is a private company, limited by shares , registered in Scotland. 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 15% 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.

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
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.

Plaschem Ltd (Registered number: SC524764)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2023
and 30 April 2024 1,495
DEPRECIATION
At 1 May 2023 931
Charge for year 85
At 30 April 2024 1,016
NET BOOK VALUE
At 30 April 2024 479
At 30 April 2023 564

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 922,003 1,197,453
Other debtors 116,988 48,461
1,038,991 1,245,914

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 30,000 30,000
Trade creditors 306,466 32,539
Taxation and social security 182,041 103,486
Other creditors 603,413 890,789
1,121,920 1,056,814

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Bank loans 45,000 75,000

Plaschem Ltd (Registered number: SC524764)

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

8. SECURED DEBTS

A floating charge is held over the company assets.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
100 Ordinary A £1 100 100
100 Ordinary B £1 100 100
52 Ordinary C £1 52 52
252 252

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 April 2024 and 30 April 2023:

30.4.24 30.4.23
£    £   
J K Dunn
Balance outstanding at start of year (1,319 ) (1,034 )
Amounts advanced 91,961 82,715
Amounts repaid (33,206 ) (83,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 57,436 (1,319 )

T McMillan
Balance outstanding at start of year (1,319 ) (92 )
Amounts advanced 49,526 86,978
Amounts repaid (33,206 ) (88,205 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 15,001 (1,319 )

11. RELATED PARTY DISCLOSURES

The Company was under the control of it's directors and major shareholders, Mr Thomas McMillan & Mr Jonathan Dunn during the year. Mr McMIllan also has a controlling interest in Alchemy Inns Ltd (SC221936)

Alchemy Inns Ltd charged the company £Nil (2023 - £24,000) for management fee during the year.