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REGISTERED NUMBER: 02293253 (England and Wales)















COUNTY PLASTICS LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024






COUNTY PLASTICS LIMITED (REGISTERED NUMBER: 02293253)

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










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


COUNTY PLASTICS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: M C Guy
D J Guy



REGISTERED OFFICE: Barnfield Mill
Union Street
Tyldesley
Manchester
M29 8AR



REGISTERED NUMBER: 02293253 (England and Wales)



ACCOUNTANTS: DJH Bury Limited
The Exchange
5 Bank Street
Bury
BL9 0DN



BANKERS: The Co-operative Bank plc
19 Knowsley Street
Bolton
Lancashire
BL1 2AS

COUNTY PLASTICS LIMITED (REGISTERED NUMBER: 02293253)

STATEMENT OF FINANCIAL POSITION
31 AUGUST 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Property, plant and equipment 5 184,266 233,039
184,266 233,039

CURRENT ASSETS
Inventories 45,181 31,281
Debtors 6 226,987 237,005
Cash at bank and in hand 91,938 68,895
364,106 337,181
CREDITORS
Amounts falling due within one year 7 (155,847 ) (137,684 )
NET CURRENT ASSETS 208,259 199,497
TOTAL ASSETS LESS CURRENT
LIABILITIES

392,525

432,536

CREDITORS
Amounts falling due after more than one
year

8

(8,333

)

(18,333

)

PROVISIONS FOR LIABILITIES (58,260 ) (58,260 )
NET ASSETS 325,932 355,943

CAPITAL AND RESERVES
Called up share capital 77 77
Capital redemption reserve 225 225
Retained earnings 325,630 355,641
SHAREHOLDERS' FUNDS 325,932 355,943

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

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

COUNTY PLASTICS LIMITED (REGISTERED NUMBER: 02293253)

STATEMENT OF FINANCIAL POSITION - continued
31 AUGUST 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 23 May 2025 and were signed on its behalf by:





D J Guy - Director


COUNTY PLASTICS LIMITED (REGISTERED NUMBER: 02293253)

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


1. STATUTORY INFORMATION

County Plastics Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 02293253. The registered office address is Barnfield Mill Union Street, Tyldesley, Manchester, England, M29 8AR.

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.

The directors have considered the business risks and believe that the company is well placed to manage these risks successfully, thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make estimates and judgements. The estimates are based on historical experience and other relevant factors. Actual results may differ from these estimates.

The estimates are continually evaluated. Revisions to accounting estimates are recognised in the period in which the estimate is revised.

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are outlined below.

Estimating the useful economic life of an asset and the anticipated residual value are considered key judgements in calculating an appropriate depreciation charge.

Making judgement based on historical experience on the level of provision required for impairment of inventories. Further information received after the statement of financial position date may impact on the level of provision required.

Revenue
Revenue comprises the aggregate of the fair value of the sales of goods and services provided, net of value added tax and discounts. Revenue is recognised as follows:

Sale of goods
Sales of goods are recognised when the company has delivered products to the customer, the customer has accepted the goods and collection of the related receivables is anticipated.

Sale of services
Service revenues are recognised as those services are provided to customers.

Intangible fixed assets
Goodwill, being the amount paid in connection with the acquisition of a business in 1995, has been written off evenly over its estimated useful life of ten years.

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.

COUNTY PLASTICS LIMITED (REGISTERED NUMBER: 02293253)

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


2. ACCOUNTING POLICIES - continued

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost, 25% on reducing balance and 20% on reducing balance

The residual values, estimated useful lives and depreciation method of property, plant and equipment are reviewed, and adjusted as appropriate, at each statement of financial position date. The effects of any revision are recognised in the income statement when the change arises.

Inventories
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost, representing latest purchase price, includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

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 accounts receivable and payable, loans from banks and other third parties and loans to related parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the income statement.

Basic financial liabilities are initially measured at transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


COUNTY PLASTICS LIMITED (REGISTERED NUMBER: 02293253)

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


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the statement of financial position. Those held 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 the income statement over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the income statement on a straight line basis over the period of the lease.

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 the income statement in the period to which they relate.

Dividends
Equity dividends are recognised when they become legally payable and are no longer at the discretion of the
company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2023
and 31 August 2024 16,560
AMORTISATION
At 1 September 2023
and 31 August 2024 16,560
NET BOOK VALUE
At 31 August 2024 -
At 31 August 2023 -

COUNTY PLASTICS LIMITED (REGISTERED NUMBER: 02293253)

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


5. PROPERTY, PLANT AND EQUIPMENT
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 September 2023 4,670 499,473 504,143
Additions - 22,900 22,900
Disposals - (10,000 ) (10,000 )
At 31 August 2024 4,670 512,373 517,043
DEPRECIATION
At 1 September 2023 - 271,104 271,104
Charge for year - 61,673 61,673
At 31 August 2024 - 332,777 332,777
NET BOOK VALUE
At 31 August 2024 4,670 179,596 184,266
At 31 August 2023 4,670 228,369 233,039

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 155,180 166,230
Other debtors 71,807 70,775
226,987 237,005

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 68,656 73,640
Taxation and social security 67,720 45,863
Other creditors 9,471 8,181
155,847 137,684

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 8,333 18,333

COUNTY PLASTICS LIMITED (REGISTERED NUMBER: 02293253)

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


9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

2024 2023
£    £   
D J Guy
Balance outstanding at start of year (2,885 ) (6,963 )
Amounts advanced 118,303 113,985
Amounts repaid (80,337 ) (109,907 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 35,081 (2,885 )

The above advance is unsecured, interest free and repayable on demand. There were no individual advances that were considered material. The maximum overdrawn balance during the year was £35,081.