Silverfin false false 31/12/2024 01/01/2024 31/12/2024 A Holloway 21/09/2000 R Holloway 21/09/2000 D Smith 22/01/2001 13 March 2025 The principal activity of the Company during the financial year is retail and wholesale of plastic raw materials and products. 04075687 2024-12-31 04075687 bus:Director1 2024-12-31 04075687 bus:Director2 2024-12-31 04075687 bus:Director3 2024-12-31 04075687 2023-12-31 04075687 core:CurrentFinancialInstruments 2024-12-31 04075687 core:CurrentFinancialInstruments 2023-12-31 04075687 core:ShareCapital 2024-12-31 04075687 core:ShareCapital 2023-12-31 04075687 core:RetainedEarningsAccumulatedLosses 2024-12-31 04075687 core:RetainedEarningsAccumulatedLosses 2023-12-31 04075687 core:FurnitureFittings 2023-12-31 04075687 core:OfficeEquipment 2023-12-31 04075687 core:FurnitureFittings 2024-12-31 04075687 core:OfficeEquipment 2024-12-31 04075687 bus:OrdinaryShareClass1 2024-12-31 04075687 bus:OrdinaryShareClass2 2024-12-31 04075687 2024-01-01 2024-12-31 04075687 bus:FilletedAccounts 2024-01-01 2024-12-31 04075687 bus:SmallEntities 2024-01-01 2024-12-31 04075687 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 04075687 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 04075687 bus:Director1 2024-01-01 2024-12-31 04075687 bus:Director2 2024-01-01 2024-12-31 04075687 bus:Director3 2024-01-01 2024-12-31 04075687 core:FurnitureFittings 2024-01-01 2024-12-31 04075687 core:OfficeEquipment 2024-01-01 2024-12-31 04075687 2023-01-01 2023-12-31 04075687 core:CurrentFinancialInstruments 2024-01-01 2024-12-31 04075687 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 04075687 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 04075687 bus:OrdinaryShareClass2 2024-01-01 2024-12-31 04075687 bus:OrdinaryShareClass2 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 04075687 (England and Wales)

PERFORMANCE PLASTICS LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

PERFORMANCE PLASTICS LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

PERFORMANCE PLASTICS LIMITED

BALANCE SHEET

As at 31 December 2024
PERFORMANCE PLASTICS LIMITED

BALANCE SHEET (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 5,321 6,856
5,321 6,856
Current assets
Stocks 4 616,689 679,896
Debtors 5 680,003 749,989
Cash at bank and in hand 68,875 21,587
1,365,567 1,451,472
Creditors: amounts falling due within one year 6 ( 1,147,518) ( 1,241,421)
Net current assets 218,049 210,051
Total assets less current liabilities 223,370 216,907
Net assets 223,370 216,907
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account 223,270 216,807
Total shareholders' funds 223,370 216,907

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Performance Plastics Limited (registered number: 04075687) were approved and authorised for issue by the Board of Directors on 13 March 2025. They were signed on its behalf by:

A Holloway
Director
PERFORMANCE PLASTICS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
PERFORMANCE PLASTICS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Performance Plastics Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW, United Kingdom. The principal place of business is Taymoor, Burley Hill, Burley, Hampshire, BH24 4HE.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date .

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.
Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Fixtures and fittings 15 % reducing balance
Office equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks

Stock is valued at lower of cost and net realisable value. after due regard for obsolete and slow moving items. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 3

3. Tangible assets

Fixtures and fittings Office equipment Total
£ £ £
Cost
At 01 January 2024 11,706 66,120 77,826
At 31 December 2024 11,706 66,120 77,826
Accumulated depreciation
At 01 January 2024 9,918 61,052 70,970
Charge for the financial year 268 1,267 1,535
At 31 December 2024 10,186 62,319 72,505
Net book value
At 31 December 2024 1,520 3,801 5,321
At 31 December 2023 1,788 5,068 6,856

4. Stocks

2024 2023
£ £
Stocks 616,689 679,896

5. Debtors

2024 2023
£ £
Trade debtors 657,698 729,514
Amounts owed by directors 18,689 14,252
Prepayments 3,495 6,223
Other debtors 121 0
680,003 749,989

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 904,047 1,037,203
Accruals 3,375 3,000
Taxation and social security 239,778 200,715
Other creditors 318 503
1,147,518 1,241,421

Included in trade creditors are liabilities in respect of invoice financing, with a carrying amount of £233,455 (2023 - £451,984). A fixed and floating charge is held over the assets of the company in respect of this debt.

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
50 Ordinary shares of £ 1.00 each 50 50
50 Ordinary A shares of £ 1.00 each 50 50
100 100

8. Related party transactions

Other related party transactions

2024 2023
£ £
Key management 18,690 14,252

No interest charged on the overdrawn loan accounts as no single account exceeds £10,000.