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REGISTERED NUMBER: 02242978 (England and Wales)




Unaudited Financial Statements

for the Year Ended 31 August 2024

for

PLASMOLD PLASTICS LIMITED

PLASMOLD PLASTICS LIMITED (REGISTERED NUMBER: 02242978)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PLASMOLD PLASTICS LIMITED

Company Information
for the Year Ended 31 August 2024







DIRECTORS: F P Hallinan
Mrs C S Hallinan
L P Hallinan
Mrs C S Hallinan





SECRETARY: Mrs C S Hallinan





REGISTERED OFFICE: Victoria House
50 Alexandra Street
Southend-on-Sea
Essex
SS1 1BN





REGISTERED NUMBER: 02242978 (England and Wales)





ACCOUNTANTS: Barnard Mountstephens Childs Limited
Chartered Certified Accountants
Victoria House
50 Alexandra Street
Southend-on-Sea
Essex
SS1 1BN

PLASMOLD PLASTICS LIMITED (REGISTERED NUMBER: 02242978)

Balance Sheet
31 August 2024

31/8/24 31/8/23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 315,615 340,979
Investments 6 - -
315,615 340,979

CURRENT ASSETS
Stocks 17,250 17,900
Debtors 7 992,221 936,997
Cash at bank 248,057 241,901
1,257,528 1,196,798
CREDITORS
Amounts falling due within one year 8 234,347 253,532
NET CURRENT ASSETS 1,023,181 943,266
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,338,796

1,284,245

PROVISIONS FOR LIABILITIES 23,001 23,880
NET ASSETS 1,315,795 1,260,365

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 1,315,695 1,260,265
SHAREHOLDERS' FUNDS 1,315,795 1,260,365

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.

PLASMOLD PLASTICS LIMITED (REGISTERED NUMBER: 02242978)

Balance Sheet - 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 27 May 2025 and were signed on its behalf by:





L P Hallinan - Director


PLASMOLD PLASTICS LIMITED (REGISTERED NUMBER: 02242978)

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

1. STATUTORY INFORMATION

PLASMOLD 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.

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
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of five 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 4% on cost
Plant & equipment - 20% on reducing balance
Fixtures and fittings - 15% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

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

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.

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.

PLASMOLD PLASTICS LIMITED (REGISTERED NUMBER: 02242978)

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 balance sheet. 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 profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 21 (2023 - 22 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2023
and 31 August 2024 5,000
AMORTISATION
At 1 September 2023
and 31 August 2024 5,000
NET BOOK VALUE
At 31 August 2024 -
At 31 August 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant & and
property equipment fittings
£    £    £   
COST
At 1 September 2023 646,565 979,693 76,122
Additions - 5,697 -
At 31 August 2024 646,565 985,390 76,122
DEPRECIATION
At 1 September 2023 428,106 873,205 67,843
Charge for year 19,398 22,364 1,464
At 31 August 2024 447,504 895,569 69,307
NET BOOK VALUE
At 31 August 2024 199,061 89,821 6,815
At 31 August 2023 218,459 106,488 8,279

PLASMOLD PLASTICS LIMITED (REGISTERED NUMBER: 02242978)

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

5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 September 2023 45,790 22,602 1,770,772
Additions 13,350 851 19,898
At 31 August 2024 59,140 23,453 1,790,670
DEPRECIATION
At 1 September 2023 43,298 17,341 1,429,793
Charge for year 845 1,191 45,262
At 31 August 2024 44,143 18,532 1,475,055
NET BOOK VALUE
At 31 August 2024 14,997 4,921 315,615
At 31 August 2023 2,492 5,261 340,979

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 September 2023
and 31 August 2024 20,000
PROVISIONS
At 1 September 2023
and 31 August 2024 20,000
NET BOOK VALUE
At 31 August 2024 -
At 31 August 2023 -

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/8/24 31/8/23
£    £   
Trade debtors 694,766 705,068
Other debtors 52,493 31,454
Directors' current accounts 225,906 158,244
Prepayments 19,056 42,231
992,221 936,997

PLASMOLD PLASTICS LIMITED (REGISTERED NUMBER: 02242978)

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

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/8/24 31/8/23
£    £   
Trade creditors 125,393 115,448
Corporation tax 34,226 34,504
Social security and other taxes 9,354 8,780
VAT 32,949 40,723
Other creditors 1,803 -
Accrued expenses 30,622 54,077
234,347 253,532

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/8/24 31/8/23
value: £    £   
100 Ordinary £1 100 100

10. 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:

31/8/24 31/8/23
£    £   
L P Hallinan
Balance outstanding at start of year 158,244 95,907
Amounts advanced 67,662 62,337
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 225,906 158,244