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REGISTERED NUMBER: 05627285 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

ACORN PLASTECH (UK) LIMITED

ACORN PLASTECH (UK) LIMITED (REGISTERED NUMBER: 05627285)






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


ACORN PLASTECH (UK) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: M I Edmondson
J Tomkinson





SECRETARIES: Mrs G K Tomkinson
Mrs T L Edmondson





REGISTERED OFFICE: Chargrove House
Shurdington Road
Cheltenham
Gloucestershire
GL51 4GA





BUSINESS ADDRESS: 4406 Oakfield Close
Tewkesbury Business Park
Tewkesbury
Gloucestershire
GL20 8PF





REGISTERED NUMBER: 05627285 (England and Wales)





ACCOUNTANTS: Randall & Payne LLP
Chartered Accountants
Chargrove House
Shurdington Road
Cheltenham
Gloucestershire
GL51 4GA

ACORN PLASTECH (UK) LIMITED (REGISTERED NUMBER: 05627285)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 276,843 280,984

CURRENT ASSETS
Stocks 5 54,802 53,416
Debtors 6 66,722 86,839
Cash at bank and in hand 315,064 230,242
436,588 370,497
CREDITORS
Amounts falling due within one year 7 136,823 79,762
NET CURRENT ASSETS 299,765 290,735
TOTAL ASSETS LESS CURRENT
LIABILITIES

576,608

571,719

CREDITORS
Amounts falling due after more than one
year

8

(79,411

)

(96,001

)

PROVISIONS FOR LIABILITIES (65,098 ) (70,246 )
NET ASSETS 432,099 405,472

CAPITAL AND RESERVES
Called up share capital 220 220
Retained earnings 431,879 405,252
SHAREHOLDERS' FUNDS 432,099 405,472

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.

ACORN PLASTECH (UK) LIMITED (REGISTERED NUMBER: 05627285)

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 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 10 June 2025 and were signed on its behalf by:




M I Edmondson - Director



J Tomkinson - Director


ACORN PLASTECH (UK) LIMITED (REGISTERED NUMBER: 05627285)

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

1. STATUTORY INFORMATION

Acorn Plastech (UK) 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.

Turnover
Turnover is the total amount receivable by the company in the ordinary course of business with outside customers for goods supplied as a principal and for the services provided, excluding VAT and trade discounts. Revenue is recognised on completion of an order.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 33% on cost

Stocks
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 items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

ACORN PLASTECH (UK) LIMITED (REGISTERED NUMBER: 05627285)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 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.

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

Going concern
The directors have considered the risks and issues concerning the company and it's activities and no material uncertainties that may cast significant doubt about the company's ability to continue as a going concern have been identified by the directors.

Provisions
Provisions are recognised only where a present obligation exists as a result of a past transaction or event at or prior to the balance sheet date. In addition, a provision is only recognised where the amounts involved can be reliably estimated. Where material, provisions are calculated on a discounted basis.

Financial instruments
Financial instruments are classified by the directors as basic or advanced following the conditions in FRS 102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2024 410,368 23,965 139,675 11,587 585,595
Additions 26,072 - 36,389 2,492 64,953
Disposals (67,062 ) - (15,450 ) - (82,512 )
At 31 December 2024 369,378 23,965 160,614 14,079 568,036
DEPRECIATION
At 1 January 2024 249,342 12,260 34,701 8,308 304,611
Charge for year 27,742 2,332 23,617 1,387 55,078
Eliminated on disposal (54,392 ) - (14,104 ) - (68,496 )
At 31 December 2024 222,692 14,592 44,214 9,695 291,193
NET BOOK VALUE
At 31 December 2024 146,686 9,373 116,400 4,384 276,843
At 31 December 2023 161,026 11,705 104,974 3,279 280,984


ACORN PLASTECH (UK) LIMITED (REGISTERED NUMBER: 05627285)

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

5. STOCKS
2024 2023
£    £   
Stocks 14,392 22,501
Work-in-progress 40,410 30,915
54,802 53,416

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 63,511 81,786
Other debtors 2,000 4,874
Prepayments 1,211 179
66,722 86,839

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 11,095 11,095
Hire purchase contracts 20,688 14,856
Trade creditors 2,349 9,626
Corporation Tax 55,922 2,855
Social security and other taxes 3,154 2,596
Pension 535 602
VAT 33,382 26,874
Other creditors 9 -
Directors' loan accounts 9,689 11,258
136,823 79,762

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 1-2 years 6,405 16,405
Hire purchase contracts 73,006 79,596
79,411 96,001

9. SECURED DEBTS

The company has a debenture charge with Lloyds Bank PLC. All monies due or to become due from the company to the chargee on any account whatsoever. The debenture contains fixed and floating charges over the undertaking and all property and assets present and future, including goodwill, book debts, uncalled capital, buildings, fixtures, fixed plant and machinery.

ACORN PLASTECH (UK) LIMITED (REGISTERED NUMBER: 05627285)

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 directors subsisted during the years ended 31 December 2024 and 31 December 2023:

2024 2023
£    £   
M I Edmondson
Balance outstanding at start of year (2,783 ) (3,428 )
Amounts advanced 38,750 39,257
Amounts repaid (39,633 ) (38,612 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (3,666 ) (2,783 )

J Tomkinson
Balance outstanding at start of year (8,475 ) (1,100 )
Amounts advanced 38,464 38,637
Amounts repaid (36,012 ) (46,012 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (6,023 ) (8,475 )

No interest is being charged on the director's loan and there are no set repayment terms.

11. FINANCIAL COMMITMENTS

The company had total financial commitments at the year end date of £25,000 (2023: £48,000).