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REGISTERED NUMBER: 10189320 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2024

for

Excel Plastics Limited

Excel Plastics Limited (Registered number: 10189320)






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


Excel Plastics Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: Mrs J Kerr
A J Kerr





REGISTERED OFFICE: Unit 2A Phoenix Centre
Road One
Winsford Ind Estate
Winsford
Cheshire
CW7 3PZ





REGISTERED NUMBER: 10189320 (England and Wales)





ACCOUNTANTS: Tippings Chartered Accountants
115 Chapel Lane
Longton
Preston
PR4 5NA

Excel Plastics Limited (Registered number: 10189320)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 165,765 197,857

CURRENT ASSETS
Stocks 443,076 355,034
Debtors 5 426,218 324,821
Cash at bank 153,819 175,476
1,023,113 855,331
CREDITORS
Amounts falling due within one year 6 565,570 365,544
NET CURRENT ASSETS 457,543 489,787
TOTAL ASSETS LESS CURRENT
LIABILITIES

623,308

687,644

CREDITORS
Amounts falling due after more than one
year

7

(134,322

)

(150,134

)

PROVISIONS FOR LIABILITIES (21,033 ) (25,886 )
NET ASSETS 467,953 511,624

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 467,951 511,622
467,953 511,624

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.

Excel Plastics Limited (Registered number: 10189320)

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 18 February 2025 and were signed on its behalf by:




Mrs J Kerr - Director



A J Kerr - Director


Excel Plastics Limited (Registered number: 10189320)

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

1. STATUTORY INFORMATION

Excel Plastics Limited is a private company limited by shares and registered in England & Wales. Its registered number is 10189320 and its registered office is Unit 2a, Phoenix Centre, Road One, Winsford, CW7 3PZ

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.

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.

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.

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.

Excel Plastics Limited (Registered number: 10189320)

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

2. ACCOUNTING POLICIES - continued

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 - 11 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2024 2,363 343,129 345,492
Additions - 23,689 23,689
At 31 December 2024 2,363 366,818 369,181
DEPRECIATION
At 1 January 2024 787 146,848 147,635
Charge for year 787 54,994 55,781
At 31 December 2024 1,574 201,842 203,416
NET BOOK VALUE
At 31 December 2024 789 164,976 165,765
At 31 December 2023 1,576 196,281 197,857

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:

Plant and
machinery
etc
£   
COST
At 1 January 2024 165,984
Additions 19,189
At 31 December 2024 185,173
DEPRECIATION
At 1 January 2024 52,483
Charge for year 33,173
At 31 December 2024 85,656
NET BOOK VALUE
At 31 December 2024 99,517
At 31 December 2023 113,501

Excel Plastics Limited (Registered number: 10189320)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 370,487 265,898
Other debtors 55,731 58,923
426,218 324,821

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans and overdrafts 6,216 6,216
Trade creditors 480,771 146,366
Taxation and social security 9,546 137,705
Other creditors 69,037 75,257
565,570 365,544

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.24 31.12.23
£    £   
Bank loans 25,668 31,015
Other creditors 108,654 119,119
134,322 150,134

8. SECURED DEBTS

Included within creditors is £119,794 (2023 - £128,106) of HP liabilities which are secured on the assets involved.

9. CAPITAL COMMITMENTS

The company had outstanding capital commitments in respect of rent of £44,000 (2023 -£82,000) at the balance sheet date.