Company registration number 09485059 (England and Wales)
DOVETAIL PLASTICS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
DOVETAIL PLASTICS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
DOVETAIL PLASTICS LIMITED (REGISTERED NUMBER: 09485059)
BALANCE SHEET
AS AT 31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Stocks
-
23,512
Debtors
3
975,977
1,053,606
Cash at bank and in hand
2,340
7
978,317
1,077,125
Creditors: amounts falling due within one year
4
(850,081)
(1,345,167)
Net current assets/(liabilities)
128,236
(268,042)
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss reserves
127,236
(269,042)
Total equity
128,236
(268,042)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 25 February 2025 and are signed on its behalf by:
T Dove
Director
DOVETAIL PLASTICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information
DoveTail Plastics Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Old Post Office, Stalisfield Green, Faversham, Kent, ME13 0HY.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Turnover for the sale of goods is recognised when all of the following conditions are met:
The company has transferred the significant risks and rewards of ownership to the buyer;
The amount of turnover can be recognised reliably
It is probable that the company will receive the consideration due under the transaction.
1.4
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
DOVETAIL PLASTICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
3
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
975,977
1,053,562
Other debtors
44
975,977
1,053,606
4
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
27,173
Amounts owed to group undertakings
846,666
1,309,926
Taxation and social security
4,818
Other creditors
3,415
3,250
850,081
1,345,167
5
Financial commitments, guarantees and contingent liabilities
Bank loans are secured by way of fixed and floating charges and negative pledge over the company's assets.
6
Related party transactions
At the year end the company owed £846,666 (2023: £1,309,926) to a group company. During the year the company purchased goods totalling £114,911 (2023: £178,942) from a group company.
During the year the company purchased services totalling £15,000 from it's parent company (2023: £15,000).
7
Parent company
The parent company is DoveTail Holdings Limited. A company registered in England and Wales.