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REGISTERED NUMBER: 06581267 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

FOR

AWB PLASTICS LIMITED

AWB PLASTICS LIMITED (REGISTERED NUMBER: 06581267)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


AWB PLASTICS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: A D Bergeson
P Kitson
C G Spooner
I Carroll
S J Furlong
T W Johnson
D Philpot





SECRETARY: K M Chatburn





REGISTERED OFFICE: Unit 53 Clywedog Road South
Wrexham Industrial Estate
Wrexham
LL13 9XS





REGISTERED NUMBER: 06581267 (England and Wales)





INDEPENDENT AUDITORS: Crowe U.K. LLP
Black Country House
Rounds Green Road
Oldbury
West Midlands
B69 2DG

AWB PLASTICS LIMITED (REGISTERED NUMBER: 06581267)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 210,888 299,844
210,888 299,844

CURRENT ASSETS
Stocks 6 376,627 592,626
Debtors 7 3,138,277 3,040,552
Cash at bank 221,778 135,112
3,736,682 3,768,290
CREDITORS
Amounts falling due within one year 8 3,705,449 4,047,253
NET CURRENT ASSETS/(LIABILITIES) 31,233 (278,963 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

242,121

20,881

PROVISIONS FOR LIABILITIES 10 74,268 74,268
NET ASSETS/(LIABILITIES) 167,853 (53,387 )

CAPITAL AND RESERVES
Called up share capital 11 458,630 458,630
Retained earnings (290,777 ) (512,017 )
167,853 (53,387 )

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 20 March 2025 and were signed on its behalf by:





A D Bergeson - Director


AWB PLASTICS LIMITED (REGISTERED NUMBER: 06581267)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024


1. GENERAL INFORMATION

AWB Plastics Limited is a private limited Company (limited by shares), which is incorporated and registered in England and Wales (registered number 06581267). The trading address and registered office is Unit 53 Clywedog Road South, Wrexham Industrial Estate, Wrexham, LL13 9XS.

2. ACCOUNTING POLICIES

2.1 Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

The following principal accounting policies have been applied:

2.2 Going concern
The directors have assessed the Company's ability to continue as a going concern. As a result of this assessment, no material uncertainties have been identified that cast doubt about the ability of the Company to continue as a going concern. The directors anticipate that the Company has adequate resources to continue in operational existence for at least twelve months from the approval of the financial statements, and therefore continues to adopt the going concern basis of accounting in preparing these financial statements.

Subsequent to year end on 17 October 2024 Prisma Colour Limited purchased the entire share capital of AWB Plastics Limited immediate parent company Silvergate Plastics Limited.

2.3 Turnover
Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.

Sales are recognised when goods are despatched.

2.4 Intangible assets
Goodwill

Subsequent to initial recognition, Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the Statement of Income and Retained Earnings over its useful economic life of 15 years.

AWB PLASTICS LIMITED (REGISTERED NUMBER: 06581267)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


2. ACCOUNTING POLICIES - continued

2.5 Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant & machinery- 20 - 50%
Motor vehicles- 33%
Fixtures & fittings- 20%
Computer equipment- 20 - 50%

2.6 Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost included all direct costs and an appropriate proportion of fixed and variable overheads.

2.7 Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Creditors

Short term creditors are measured at the transaction price.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

2.8 Provisions for liabilities
Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.

Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

AWB PLASTICS LIMITED (REGISTERED NUMBER: 06581267)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 55 (2023 - 55 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 1,433,792
AMORTISATION
At 1 July 2023
and 30 June 2024 1,433,792
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 July 2023 852,400 106,469 39,926 140,877 1,139,672
Additions 17,117 2,070 - 8,317 27,504
At 30 June 2024 869,517 108,539 39,926 149,194 1,167,176
DEPRECIATION
At 1 July 2023 605,904 82,830 39,926 111,168 839,828
Charge for year 95,285 10,132 - 11,043 116,460
At 30 June 2024 701,189 92,962 39,926 122,211 956,288
NET BOOK VALUE
At 30 June 2024 168,328 15,577 - 26,983 210,888
At 30 June 2023 246,496 23,639 - 29,709 299,844

6. STOCKS
2024 2023
£    £   
Raw materials and consumables 335,177 532,122
Finished goods 41,450 60,504
376,627 592,626

AWB PLASTICS LIMITED (REGISTERED NUMBER: 06581267)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,217,877 2,067,387
Amounts owed by group undertakings 785,377 756,744
Other debtors 23,164 100,911
Prepayments and accrued income 111,859 115,510
3,138,277 3,040,552

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other loans 1,695,305 1,874,279
Trade creditors 1,716,111 1,933,553
Social security and other taxes 45,614 42,594
Other creditors 15,115 13,017
Hire purchase contracts - 475
Accruals and deferred income 233,304 183,335
3,705,449 4,047,253

Secured loans

Other loans of £1,434,651 (2023: £1,573,658) are secured over certain trade debtor balances.The remainder of other loans are secured by way of fixed and floating charge over all fixed and current assets.

The Company has a loan taken out with DBW Investments (14) Limited. At the year end the balance outstanding was £260,654 (2023: £300,621). There is a guarantee secured by way of a fixed and floating charge over all fixed and current assets.

Finance lease agreements are secured against the assets to which they relate.

Covenant Breach

During the year end the Company was in breach of a covenant relating to the loan balance of £260,654 therefore the loan has been included within due within one year.

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 206,531 218,021
Between one and five years 698,697 715,886
In more than five years 1,485,000 1,650,000
2,390,228 2,583,907

AWB PLASTICS LIMITED (REGISTERED NUMBER: 06581267)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


10. PROVISIONS FOR LIABILITIES

Dilapidations
provision
£   

At 1 July 202374,268
At 30 June 202474,268

11. CALLED UP SHARE CAPITAL

2024 2023
£    £   
Authorised, allotted, called up and fully paid
7,000 (2023 - 7,000) Ordinary shares of £1.00 each 7,000 7,000
6,750 (2023 - 6,750) Ordinary A shares of £1.00 each 6,750 6,750
444,780 (2023 - 444,780) Ordinary B shares of £1.00 each 444,780 444,780
100 (2023 - 100) Ordinary C shares of £1.00 each 100 100
458,630 458,630


Ordinary B and Ordinary C shares have no voting rights attached.

Ordinary and Ordinary A shares rank Pari passu.

12. AUDITOR'S INFORMATION

The Auditor's Report that was included in the annual accounts and reports delivered to
Members was unqualified. The Audit Report was issued by Crowe U.K. LLP and was signed
by Mark Evans.

13. PENSION COMMITMENTS

The Company operates a defined contributions pension scheme. Contributions totalling £15,115 (2023:£13,017) were payable to the fund at the balance sheet date and are included in other creditors.

14. RELATED PARTY TRANSACTIONS

As a subsidiary undertaking of Silvergate Plastics Limited, the Company has taken advantage of the exemption in FRS 102 section 33 from disclosing transactions with other wholly owned members of the Group.

15. SUBSEQUENT EVENTS

Subsequent to year end on 17 October 2024 Prisma Colour Limited purchased the entire share capital of AWB Plastics Limited immediate parent company Silvergate Plastics Limited.

AWB PLASTICS LIMITED (REGISTERED NUMBER: 06581267)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


16. CONTROLLING PARTY

The Company is a subsidiary of Silvergate Plastics Limited which up to 17 October 2024, was the ultimate parent company incorporated in England and Wales, the registered office is Unit 53 Clywedog Road south, Wrexham Industrial Estate, Wrexham, LL13 9XS.

The Company is controlled by A W Bestall through his shareholding in Silvergate Plastics Limited.

From 18 October 2024 the Company' Ultimate controlling party is Prisma Colour Limited (No. 02658661) whose registered office is at Unit B, Thornsett Trading Estate, Birch Vale, High Peak SK22 1AH (Buyer).