Company Registration No. 7260465 (England and Wales)
West Lancs Rubber and Plastics Ltd
Unaudited accounts
for the year ended 31 May 2024
West Lancs Rubber and Plastics Ltd
Unaudited accounts
Contents
West Lancs Rubber and Plastics Ltd
Company Information
for the year ended 31 May 2024
Director
Marcus Christopher Houghton
Company Number
7260465 (England and Wales)
Registered Office
20 MILL LANE, RAINFORD INDUSTRIAL ESTATE
RAINFORD
ST. HELENS
MERSEYSIDE
WA11 8LS
Accountants
FPD Accountancy and Bookkeeping
46 East Lancashire Road
St Helens
Merseyside
WA11 9AB
West Lancs Rubber and Plastics Ltd
Statement of financial position
as at 31 May 2024
Tangible assets
2,336
6,621
Cash at bank and in hand
6,968
6,925
Creditors: amounts falling due within one year
(9,228)
(23,794)
Net current assets
16,958
21,307
Total assets less current liabilities
19,294
27,928
Creditors: amounts falling due after more than one year
(11,346)
(21,607)
Provisions for liabilities
Other provisions
(1,532)
(3,465)
Called up share capital
1
1
Profit and loss account
6,415
2,855
Shareholders' funds
6,416
2,856
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 4 February 2025 and were signed on its behalf by
Marcus Christopher Houghton
Director
Company Registration No. 7260465
West Lancs Rubber and Plastics Ltd
Notes to the Accounts
for the year ended 31 May 2024
West Lancs Rubber and Plastics Ltd is a private company, limited by shares, registered in England and Wales, registration number 7260465. The registered office is 20 MILL LANE, RAINFORD INDUSTRIAL ESTATE, RAINFORD, ST. HELENS, MERSEYSIDE, WA11 8LS.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
West Lancs Rubber and Plastics Ltd
Notes to the Accounts
for the year ended 31 May 2024
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 June 2023
9,125
15,000
3,689
27,814
At 31 May 2024
9,125
15,000
3,689
27,814
At 1 June 2023
7,504
10,000
3,689
21,193
Charge for the year
535
3,750
-
4,285
At 31 May 2024
8,039
13,750
3,689
25,478
At 31 May 2024
1,086
1,250
-
2,336
At 31 May 2023
1,621
5,000
-
6,621
Amounts falling due within one year
Trade debtors
6,437
28,654
Accrued income and prepayments
2,162
1,467
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
10,225
9,908
Trade creditors
11,845
9,449
Taxes and social security
6,322
5,584
Other creditors
3,362
1,082
Loans from directors
(26,769)
(12,060)
7
Creditors: amounts falling due after more than one year
2024
2023
Creditors falling due after more than one year comprise a government backed loan secured to assist the business with working capital during the coronavirus pandemic. The loan was drawn down in May 2020. Security for the loan is provided by HM Government. The loan bears interest at 2.5%. During the first 12 months, the interest on this loan was paid by HM Government. This amounted to state aid of £1,250.
West Lancs Rubber and Plastics Ltd
Notes to the Accounts
for the year ended 31 May 2024
8
Provisions for liabilities
£
During the year ending 31 May 2023, the company negotiated a 9 month rent break due to the poor conditions of the business premises. At the time of signing of the accounts, a new lease had not been signed. A rent free provision of 4 years has been calculated, consistent with the duration of previous lease periods.
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Marcus Christopher Houghton
Directors current account
12,060
29,987
15,278
26,769
12,060
29,987
15,278
26,769
During the year, the director MC Houghton received an unsecured interest free loan from the company. At the year end the loan had a debit balance of £26,769 (2023: debit balance of £12,060). Mr MC Houghton received £14,700 of dividends (2023: £38,000) during the year.
11
Transactions with related parties
The director MC Houghton, who is also a shareholder, received dividends from the company of £14,700 (2023: £38,000) during the year.
12
Average number of employees
During the year the average number of employees was 1 (2023: 2).