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REGISTERED NUMBER: 02460071 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2024

for

Plytech UK Ltd

Plytech UK Ltd (Registered number: 02460071)






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


Plytech UK Ltd

Company Information
for the Year Ended 31 December 2024







DIRECTORS: E G Norris
M A King
Miss R S King
Mrs E A Norris





SECRETARY: Mrs E A Norris





REGISTERED OFFICE: 26 Marsh Green Road West
Marsh Barton Trading Estate
Exeter
Devon
EX2 8PN





REGISTERED NUMBER: 02460071 (England and Wales)





ACCOUNTANTS: Bedford & Co Limited
128 High Street
Crediton
Devon
EX17 3LQ

Plytech UK Ltd (Registered number: 02460071)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 2,987 4,458
Tangible assets 5 53,511 66,063
56,498 70,521

CURRENT ASSETS
Stocks 250,580 338,245
Debtors 6 249,516 177,343
Cash at bank and in hand 179,543 240,107
679,639 755,695
CREDITORS
Amounts falling due within one
year

7

223,428

211,212
NET CURRENT ASSETS 456,211 544,483
TOTAL ASSETS LESS CURRENT
LIABILITIES

512,709

615,004

CREDITORS
Amounts falling due after more
than one year

8

(30,064

)

(77,031

)

PROVISIONS FOR LIABILITIES (14,124 ) (17,630 )
NET ASSETS 468,521 520,343

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 468,421 520,243
468,521 520,343

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.

Plytech UK Ltd (Registered number: 02460071)

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 2 May 2025 and were signed on its behalf by:





M A King - Director


Plytech UK Ltd (Registered number: 02460071)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Plytech UK Ltd 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 company's place of business is 26 Marsh Green Road West, Marsh Barton Trading Estate, Exeter, Devon, EX2 8PN.

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
This is measured at the fair value of the consideration received or receivable from the sale of goods, excluding discounts, rebates, value added tax and other sales taxes.
Revenue is recognised when goods are delivered to customers such that risks and rewards of ownership have been transferred to them and that there is sufficient reliable evidence that delivery of goods has occurred.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised using the 33% reducing balance method.

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

Stocks
Stocks have been valued at the lower of cost and estimated selling price less costs to complete and sell. Cost is calculated on a first in first out basis.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Plytech UK Ltd (Registered number: 02460071)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2024
and 31 December 2024 64,620
AMORTISATION
At 1 January 2024 60,162
Charge for year 1,471
At 31 December 2024 61,633
NET BOOK VALUE
At 31 December 2024 2,987
At 31 December 2023 4,458

Plytech UK Ltd (Registered number: 02460071)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2024 281,877
Additions 5,285
At 31 December 2024 287,162
DEPRECIATION
At 1 January 2024 215,814
Charge for year 17,837
At 31 December 2024 233,651
NET BOOK VALUE
At 31 December 2024 53,511
At 31 December 2023 66,063

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 160,833 108,814
Other debtors 88,683 68,529
249,516 177,343

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans and overdrafts 46,151 46,151
Hire purchase contracts - 4,988
Trade creditors 124,444 106,276
Taxation and social security 50,605 51,811
Other creditors 2,228 1,986
223,428 211,212

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.24 31.12.23
£    £   
Bank loans 30,064 77,031

9. SECURED DEBTS

The following secured debts are included within creditors:

31.12.24 31.12.23
£    £   
Bank loans 76,215 123,182
Hire purchase contracts - 4,988
76,215 128,170

Plytech UK Ltd (Registered number: 02460071)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

31.12.24 31.12.23
£    £   
M A King
Balance outstanding at start of year 59,762 75,413
Amounts advanced 48,642 59,762
Amounts repaid (59,762 ) (75,413 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 48,642 59,762

Interest was charged on the amount advanced at an annual rate of 2.25%.