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Registered number: 02741469
Holbourne Industrial Plastics Ltd.
Unaudited Financial Statements
For The Year Ended 31 July 2024
Nigel Ricks & Company Ltd
Chartered Accountants
42 Glebe Street
Loughborough
Leicestershire
LE11 1JR
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 02741469
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 192,988 221,922
192,988 221,922
CURRENT ASSETS
Stocks 5 21,721 22,945
Debtors 6 305,523 170,020
Cash at bank and in hand 131,082 226,306
458,326 419,271
Creditors: Amounts Falling Due Within One Year 7 (418,989 ) (302,485 )
NET CURRENT ASSETS (LIABILITIES) 39,337 116,786
TOTAL ASSETS LESS CURRENT LIABILITIES 232,325 338,708
Creditors: Amounts Falling Due After More Than One Year 8 (57,295 ) (114,335 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (46,555 ) (40,847 )
NET ASSETS 128,475 183,526
CAPITAL AND RESERVES
Called up share capital 10 478 478
Profit and Loss Account 127,997 183,048
SHAREHOLDERS' FUNDS 128,475 183,526
Page 1
Page 2
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Craig Pope
Director
7th April 2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Holbourne Industrial Plastics Ltd. is a private company, limited by shares, incorporated in England & Wales, registered number 02741469 . The registered office is Rose Villa, 42 Glebe Street, Loughborough, Leicestershire, LE11 1JR.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 20% Reducing Balance
Plant & Machinery 25% Reducing Balance
Motor Vehicles 25% Straight Line
Fixtures & Fittings 25% Reducing Balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 4 4
Manufacturing 7 7
11 11
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 August 2023 5,579 298,694 78,496 68,028 450,797
Additions - 8,000 - - 8,000
As at 31 July 2024 5,579 306,694 78,496 68,028 458,797
Depreciation
As at 1 August 2023 2,770 153,742 38,191 34,172 228,875
Provided during the period 562 21,122 8,061 7,189 36,934
As at 31 July 2024 3,332 174,864 46,252 41,361 265,809
Net Book Value
As at 31 July 2024 2,247 131,830 32,244 26,667 192,988
As at 1 August 2023 2,809 144,952 40,305 33,856 221,922
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5. Stocks
2024 2023
£ £
Stock 21,721 22,945
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 120,881 79,700
Prepayments and accrued income 22,195 2,680
Other debtors 428 428
VAT 11,768 -
Net wages - 1,711
Amounts owed by other participating interests 150,251 85,501
305,523 170,020
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 13,502 -
Trade creditors 312,516 250,352
Bank loans and overdrafts 23,451 23,451
Corporation tax 62,440 21,182
Other taxes and social security 6,621 5,610
VAT - 611
Accruals and deferred income - 820
Directors' loan accounts 459 459
418,989 302,485
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 32,835
Bank loans 57,295 81,500
57,295 114,335
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 13,502 -
Later than one year and not later than five years - 32,835
13,502 32,835
13,502 32,835
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10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 478 478
11. Related Party Transactions
As at the balance sheet date, the company had a net balance due to related parties of £150,250 (2022: £85,500 receivable).
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