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REGISTERED NUMBER: 04019121 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

MALTON PLASTICS (UK) LIMITED

MALTON PLASTICS (UK) LIMITED (REGISTERED NUMBER: 04019121)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MALTON PLASTICS (UK) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: S M Smith
G R Smith



SECRETARY: G R Smith



REGISTERED OFFICE: 29 Enterprise Way
Thornton Road Industrial Estate
Pickering
North Yorkshire
YO18 7NA



REGISTERED NUMBER: 04019121 (England and Wales)



ACCOUNTANTS: Brosnans
Chartered Accountants
Suite 1, Aireside House
Royd Ings Avenue
Keighley
West Yorkshire
BD21 4BZ



BANKERS: Barclays Bank Plc
23 Yorkers Gate
Malton
North Yorkshire
YO17 7AE

MALTON PLASTICS (UK) LIMITED (REGISTERED NUMBER: 04019121)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £ £
FIXED ASSETS
Tangible assets 4 709,528 681,025

CURRENT ASSETS
Stocks 210,234 234,880
Debtors 5 249,911 281,316
Cash at bank 370,909 355,658
831,054 871,854
CREDITORS
Amounts falling due within one year 6 (252,327 ) (314,238 )
NET CURRENT ASSETS 578,727 557,616
TOTAL ASSETS LESS CURRENT LIABILITIES 1,288,255 1,238,641

CREDITORS
Amounts falling due after more than
one year

7

(328,788

)

(346,192

)

PROVISIONS FOR LIABILITIES (34,748 ) (25,393 )
NET ASSETS 924,719 867,056

CAPITAL AND RESERVES
Called up share capital 10 2 2
Retained earnings 924,717 867,054
SHAREHOLDERS' FUNDS 924,719 867,056

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

MALTON PLASTICS (UK) LIMITED (REGISTERED NUMBER: 04019121)

BALANCE SHEET - continued
31 DECEMBER 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 25 March 2025 and were signed on its behalf by:





G R Smith - Director


MALTON PLASTICS (UK) LIMITED (REGISTERED NUMBER: 04019121)

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

1. STATUTORY INFORMATION

Malton Plastics (UK) Limited 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 (£).


The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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 represents amounts receivable for the supply of moulded plastic products and related services net of VAT and trade discounts.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

TANGIBLE FIXED ASSETS
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Improvements to leasehold premises10% Straight line
Computer equipment33% Straight line
Plant & machinery20% Straight line
Fixtures & fittings20% Straight line
Motor vehicles33% Straight line
Freehold Buildings (excluding land) 2% Straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

MALTON PLASTICS (UK) LIMITED (REGISTERED NUMBER: 04019121)

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

2. ACCOUNTING POLICIES - continued

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.

TAXATION
The tax expense represents the sum of the tax currently payable and deferred tax.

CURRENT TAX
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

DEFERRED TAX
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

FOREIGN EXCHANGE
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in the profit and loss account for the period.

LEASES
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

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

MALTON PLASTICS (UK) LIMITED (REGISTERED NUMBER: 04019121)

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

2. ACCOUNTING POLICIES - continued

GOING CONCERN
These financial statements have been prepared on a going concern basis.

The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and for a period at least 12 months from the date of approval of these financial statements.

EMPLOYEE BENEFITS
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

IMPAIRMENT OF FIXED ASSETS
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 14 ) .

MALTON PLASTICS (UK) LIMITED (REGISTERED NUMBER: 04019121)

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

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£ £ £
COST
At 1 January 2024 570,350 753,970 1,324,320
Additions - 110,294 110,294
Disposals - (550 ) (550 )
At 31 December 2024 570,350 863,714 1,434,064
DEPRECIATION
At 1 January 2024 16,049 627,246 643,295
Charge for year 7,407 74,036 81,443
Eliminated on disposal - (202 ) (202 )
At 31 December 2024 23,456 701,080 724,536
NET BOOK VALUE
At 31 December 2024 546,894 162,634 709,528
At 31 December 2023 554,301 126,724 681,025

Included in cost of land and buildings is freehold land of £ 200,000 (2023 - £ 200,000 ) which is not depreciated.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 240,035 267,286
Other debtors 9,876 14,030
249,911 281,316

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts 13,326 13,149
Hire purchase contracts (see note 8) - 26,256
Trade creditors 92,830 109,956
Taxation and social security 79,166 101,996
Other creditors 67,005 62,881
252,327 314,238

MALTON PLASTICS (UK) LIMITED (REGISTERED NUMBER: 04019121)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£ £
Bank loans 328,788 346,192

Amounts falling due in more than five years:

Repayable by instalments
Bank loans due in more than 5
years 259,657 270,274
259,657 270,274

8. LEASING AGREEMENTS

Included in 'Creditors: amounts falling due within one year' and 'Creditors: amounts falling due after more than one year' are hire purchase liabilities amounting to £Nil (2023: £26,256). These liabilities are secured against the assets concerned.

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£ £
Bank loans 342,114 359,341

The bank loan is secured on the company's property at 29 Enterprise Way, Pickering, YO18 7NA and by a Fixed and Floating charge over the company's assets.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
2 Ordinary 1 2 2

11. RELATED PARTY TRANSACTIONS

During the year the company entered into the following transactions with related parties:

Included in 'Other creditors' is an interest free loan from the directors amounting to £41,602 (2023: £45,402). This loan is repayable on demand.