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REGISTERED NUMBER: 01336489 (England and Wales)















REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

KINGSLEY PLASTICS LIMITED

KINGSLEY PLASTICS LIMITED (REGISTERED NUMBER: 01336489)

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










Page

Company Information 1

Report of the Directors 2

Balance Sheet 3

Notes to the Financial Statements 5


KINGSLEY PLASTICS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: Mr M A Manley
Mr M C Turner
Mr G J Mason





SECRETARY: Mr I Pitts





REGISTERED OFFICE: The Airfield
Winkleigh
Devon
EX19 8DW





REGISTERED NUMBER: 01336489 (England and Wales)





ACCOUNTANTS: BK Plus Limited
Chartered Certified Accountants
Murrills House
48 East Street
Portchester
Fareham
Hampshire
PO16 9XS

KINGSLEY PLASTICS LIMITED (REGISTERED NUMBER: 01336489)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 SEPTEMBER 2024


The directors present their report with the financial statements of the company for the year ended 30 September 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of the manufacture of glass fibre simulated buildings.

DIRECTORS
Mr M A Manley has held office during the whole of the period from 1 October 2023 to the date of this report.

Other changes in directors holding office are as follows:

Mr K G Down - resigned 9 February 2024
Mr M C Turner - appointed 1 March 2024
Mr G J Mason - appointed 1 March 2024

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Mr M A Manley - Director


24 March 2025

KINGSLEY PLASTICS LIMITED (REGISTERED NUMBER: 01336489)

BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 2,984,418 2,766,656
2,984,418 2,766,656

CURRENT ASSETS
Stocks 1,153,902 599,919
Debtors 6 1,851,158 2,084,426
Cash at bank and in hand 491,718 234,259
3,496,778 2,918,604
CREDITORS
Amounts falling due within one year 7 3,550,577 1,687,644
NET CURRENT (LIABILITIES)/ASSETS (53,799 ) 1,230,960
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,930,619

3,997,616

CREDITORS
Amounts falling due after more than one
year

8

(130,919

)

(1,236,967

)

PROVISIONS FOR LIABILITIES (156,492 ) (128,840 )
NET ASSETS 2,643,208 2,631,809

CAPITAL AND RESERVES
Called up share capital 100,000 100,000
Retained earnings 2,543,208 2,531,809
SHAREHOLDERS' FUNDS 2,643,208 2,631,809

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

KINGSLEY PLASTICS LIMITED (REGISTERED NUMBER: 01336489)

BALANCE SHEET - continued
30 SEPTEMBER 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 March 2025 and were signed on its behalf by:





Mr M A Manley - Director


KINGSLEY PLASTICS LIMITED (REGISTERED NUMBER: 01336489)

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


1. STATUTORY INFORMATION

Kingsley Plastics 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 (£).


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.

Preparation of consolidated financial statements
The financial statements present information about the company as an individual undertaking and not about its group. The company has not prepared group accounts as it is exempt from the requirement to do so by section 400 of the Companies Act 2006 as it is a subsidiary undertaking of Kingsley Plastics Management Company Limited, a company incorporated in England.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents net invoiced sales relating to the manufacture of glass fibre simulated buildings excluding value added tax.

Patents
Patents are valued at cost less accumulated amortisation. Amortisation is calculated to write off the cost in equal annual instalments over the estimated useful lives of the patents.

Research and development
Since 1 October 2015 the company no longer capitalises research and development costs. They are now shown in the profit and loss account in the year in which they are incurred.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - 10% on cost and 2% on cost
Plant and machinery - 25% on reducing balance and 10% on cost
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance and 10% on cost

Stocks and work in progress
Stock is valued at the lower of cost and net realisable value. Work in progress is included at cost plus an element of profit.

KINGSLEY PLASTICS LIMITED (REGISTERED NUMBER: 01336489)

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


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit and loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit and loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 60 (2023 - 44 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 October 2023
and 30 September 2024 434,021
AMORTISATION
At 1 October 2023
and 30 September 2024 434,021
NET BOOK VALUE
At 30 September 2024 -
At 30 September 2023 -

KINGSLEY PLASTICS LIMITED (REGISTERED NUMBER: 01336489)

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


5. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 October 2023 2,435,968 1,141,231 236,905 428,024 4,242,128
Additions 186,507 52,718 5,409 190,750 435,384
Disposals - - - (150,175 ) (150,175 )
At 30 September 2024 2,622,475 1,193,949 242,314 468,599 4,527,337
DEPRECIATION
At 1 October 2023 377,199 702,925 56,370 338,978 1,475,472
Charge for year 45,114 116,131 23,803 32,574 217,622
Eliminated on disposal - - - (150,175 ) (150,175 )
At 30 September 2024 422,313 819,056 80,173 221,377 1,542,919
NET BOOK VALUE
At 30 September 2024 2,200,162 374,893 162,141 247,222 2,984,418
At 30 September 2023 2,058,769 438,306 180,535 89,046 2,766,656

6. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 1,360,077 1,317,231
Other debtors 376,088 204,467
1,736,165 1,521,698

Amounts falling due after more than one year:
Amounts owed by group undertakings - 425,000
Other debtors 114,993 137,728
114,993 562,728

Aggregate amounts 1,851,158 2,084,426

KINGSLEY PLASTICS LIMITED (REGISTERED NUMBER: 01336489)

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


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 133,469
Hire purchase contracts 39,424 11,353
Trade creditors 674,772 449,318
Amounts owed to associates 1,009,000 -
Taxation and social security 1,082,268 550,802
Other creditors 745,113 542,702
3,550,577 1,687,644

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1,225,591
Hire purchase contracts 130,919 11,376
130,919 1,236,967

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 691,716

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans - 1,359,060
Hire purchase contracts 170,343 22,729
170,343 1,381,789

Hire purchase contracts are secured by fixed charges on the assets to which they relate.

Bank loans are secured over the leasehold properties of the company.

10. OTHER FINANCIAL COMMITMENTS

The company is committed to vehicle lease payments of 2024 £24,549 (2023 £39,696).

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Kingsley Employee Ownership CompanyLimited.

The Airfield, Winkleigh, Devon, EX19 8DW