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REGISTERED NUMBER: 08428412 (England and Wales)















K.A.M. PLASTICS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






K.A.M. PLASTICS LTD (REGISTERED NUMBER: 08428412)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


K.A.M. PLASTICS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: K Redfield
T A Burgess



REGISTERED OFFICE: Unit 7, Peryton Park
Peryton Way
Europarc
Grimsby
Lincolnshire
DN37 9TL



REGISTERED NUMBER: 08428412 (England and Wales)



ACCOUNTANTS: Duncan & Toplis Limited
Oxley House
Lincoln Way
Louth
Lincolnshire
LN11 0LS



BANKERS: National Westminister Bank plc
Bede House
11 Western Boulevard
Leicester
Leicestershire
LE2 7EJ

K.A.M. PLASTICS LTD (REGISTERED NUMBER: 08428412)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 253,851 202,117

CURRENT ASSETS
Stocks 45,000 60,000
Debtors 5 153,361 221,747
Cash at bank and in hand 27,114 127,468
225,475 409,215
CREDITORS
Amounts falling due within one year 6 176,430 278,981
NET CURRENT ASSETS 49,045 130,234
TOTAL ASSETS LESS CURRENT LIABILITIES 302,896 332,351

CREDITORS
Amounts falling due after more than one year 7 (17,185 ) (57,094 )

PROVISIONS FOR LIABILITIES (47,032 ) (36,772 )
NET ASSETS 238,679 238,485

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 238,579 238,385
SHAREHOLDERS' FUNDS 238,679 238,485

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 February 2025 and were signed on its behalf by:





K Redfield - Director


K.A.M. PLASTICS LTD (REGISTERED NUMBER: 08428412)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

K.A.M. Plastics Ltd 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.

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.
Improvements to property - 20% on cost
Plant and machinery - 20% on cost
Motor vehicles - 20% on reducing balance
Computer equipment - 20% on cost

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

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

Financial instruments
The company has chosen to adopt the FRS 102A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.


K.A.M. PLASTICS LTD (REGISTERED NUMBER: 08428412)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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 year was 9 (2023 - 10 ) .

4. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 17,116 292,499 140,533 4,862 455,010
Additions - 103,340 22,600 1,478 127,418
Disposals - (10,217 ) (37,545 ) - (47,762 )
At 31 March 2024 17,116 385,622 125,588 6,340 534,666
DEPRECIATION
At 1 April 2023 8,539 195,406 47,437 1,511 252,893
Charge for year 2,266 49,337 20,788 1,229 73,620
Eliminated on disposal - (10,217 ) (35,481 ) - (45,698 )
At 31 March 2024 10,805 234,526 32,744 2,740 280,815
NET BOOK VALUE
At 31 March 2024 6,311 151,096 92,844 3,600 253,851
At 31 March 2023 8,577 97,093 93,096 3,351 202,117

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 93,102 149,980
Amounts owed by group undertakings 37,200 49,000
Other debtors 23,059 22,767
153,361 221,747

K.A.M. PLASTICS LTD (REGISTERED NUMBER: 08428412)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 84,311 92,052
Trade creditors 42,530 111,535
Taxation and social security 44,914 70,258
Other creditors 4,675 5,136
176,430 278,981

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 17,185 57,094

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

9. RELATED PARTY DISCLOSURES

Included in debtors is £37,200 (2023: £49,000) owed by G P Pallets Limited a company that owns 50% of the share capital of K.A.M. Plastics Ltd.