Ash Plastics (Wolverhampton) Limited 01651313 false 2024-04-01 2025-03-31 2025-03-31 The principal activity of the company is Manufacture of other plastic products Digita Accounts Production Advanced 6.30.9574.0 true 01651313 2024-04-01 2025-03-31 01651313 2025-03-31 01651313 core:FinanceLeases core:Non-currentFinancialInstruments 2025-03-31 01651313 core:HirePurchaseContracts core:CurrentFinancialInstruments 2025-03-31 01651313 core:CurrentFinancialInstruments 2025-03-31 01651313 core:CurrentFinancialInstruments core:WithinOneYear 2025-03-31 01651313 core:Non-currentFinancialInstruments 2025-03-31 01651313 core:Non-currentFinancialInstruments core:AfterOneYear 2025-03-31 01651313 core:Buildings 2025-03-31 01651313 core:FurnitureFittingsToolsEquipment 2025-03-31 01651313 core:LandBuildings 2025-03-31 01651313 core:MotorVehicles 2025-03-31 01651313 core:OtherPropertyPlantEquipment 2025-03-31 01651313 bus:SmallEntities 2024-04-01 2025-03-31 01651313 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 01651313 bus:FilletedAccounts 2024-04-01 2025-03-31 01651313 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 01651313 bus:RegisteredOffice 2024-04-01 2025-03-31 01651313 bus:Director1 2024-04-01 2025-03-31 01651313 bus:Director2 2024-04-01 2025-03-31 01651313 bus:Director3 2024-04-01 2025-03-31 01651313 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 01651313 core:Buildings 2024-04-01 2025-03-31 01651313 core:ComputerEquipment 2024-04-01 2025-03-31 01651313 core:FurnitureFittingsToolsEquipment 2024-04-01 2025-03-31 01651313 core:LandBuildings 2024-04-01 2025-03-31 01651313 core:MotorVehicles 2024-04-01 2025-03-31 01651313 core:OtherPropertyPlantEquipment 2024-04-01 2025-03-31 01651313 core:PlantMachinery 2024-04-01 2025-03-31 01651313 core:Vehicles 2024-04-01 2025-03-31 01651313 countries:UnitedKingdom 2024-04-01 2025-03-31 01651313 2024-03-31 01651313 core:FurnitureFittingsToolsEquipment 2024-03-31 01651313 core:LandBuildings 2024-03-31 01651313 core:MotorVehicles 2024-03-31 01651313 core:OtherPropertyPlantEquipment 2024-03-31 01651313 2023-04-01 2024-03-31 01651313 2024-03-31 01651313 core:FinanceLeases core:Non-currentFinancialInstruments 2024-03-31 01651313 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-03-31 01651313 core:CurrentFinancialInstruments 2024-03-31 01651313 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 01651313 core:Non-currentFinancialInstruments 2024-03-31 01651313 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 01651313 core:Buildings 2024-03-31 01651313 core:FurnitureFittingsToolsEquipment 2024-03-31 01651313 core:LandBuildings 2024-03-31 01651313 core:MotorVehicles 2024-03-31 01651313 core:OtherPropertyPlantEquipment 2024-03-31 iso4217:GBP xbrli:pure

Registration number: 01651313

Ash Plastics (Wolverhampton) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2025

 

Ash Plastics (Wolverhampton) Limited

Company Information

Directors

Mr James Archer

Mr Robert Archer

Mr David Archer

Registered office

City House
Ettingshall Road
Wolverhampton
WV2 2JP

 

Ash Plastics (Wolverhampton) Limited

(Registration number: 01651313)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

2,092,745

2,258,152

Current assets

 

Stocks

5

527,095

514,632

Debtors

6

765,915

808,181

Cash at bank and in hand

 

1,525,560

1,181,676

 

2,818,570

2,504,489

Creditors: Amounts falling due within one year

7

(827,057)

(759,538)

Net current assets

 

1,991,513

1,744,951

Total assets less current liabilities

 

4,084,258

4,003,103

Creditors: Amounts falling due after more than one year

7

(89,012)

(57,727)

Provisions for liabilities

(346,196)

(305,767)

Net assets

 

3,649,050

3,639,609

Capital and reserves

 

Called up share capital

12,250

12,250

Capital redemption reserve

8,750

8,750

Revaluation reserve

428,590

428,590

Retained earnings

3,199,460

3,190,019

Shareholders' funds

 

3,649,050

3,639,609

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 16 May 2025 and signed on its behalf by:
 

 

Ash Plastics (Wolverhampton) Limited

(Registration number: 01651313)
Balance Sheet as at 31 March 2025

.........................................
Mr James Archer
Director

.........................................
Mr David Archer
Director

 

Ash Plastics (Wolverhampton) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
City House
Ettingshall Road
Wolverhampton
WV2 2JP
England

These financial statements were authorised for issue by the Board on 16 May 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Ash Plastics (Wolverhampton) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold buildings

2% on cost

Plant and machinery

10% on reducing balance

Motor vehicle

25% on reducing balance

Computer equipment

10% on reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Ash Plastics (Wolverhampton) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

 

Ash Plastics (Wolverhampton) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 38 (2024 - 38).

 

Ash Plastics (Wolverhampton) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 April 2024

750,000

237,199

52,923

2,794,803

3,834,925

Additions

-

1,581

34,039

47,095

82,715

Disposals

-

-

-

(66,545)

(66,545)

At 31 March 2025

750,000

238,780

86,962

2,775,353

3,851,095

Depreciation

At 1 April 2024

69,520

152,307

46,101

1,308,845

1,576,773

Charge for the year

15,000

10,175

5,961

185,688

216,824

Eliminated on disposal

-

-

-

(35,247)

(35,247)

At 31 March 2025

84,520

162,482

52,062

1,459,286

1,758,350

Carrying amount

At 31 March 2025

665,480

76,298

34,900

1,316,067

2,092,745

At 31 March 2024

680,480

84,892

6,822

1,485,958

2,258,152

Included within the net book value of land and buildings above is £665,480 (2024 - £680,480) in respect of freehold land and buildings.

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

Plant and machinery: cost £576,516, accumulated depreciation £178,611.
 

Revaluation

The fair value of the company's Freehold property was revalued on 31 March 2019. An independent valuer was not involved. .
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £700,000 (2024 - £700,000).

 

Ash Plastics (Wolverhampton) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

5

Stocks

2025
£

2024
£

Work in progress

88,696

141,224

Other inventories

438,399

373,408

527,095

514,632

6

Debtors

Current

2025
£

2024
£

Trade debtors

658,171

703,527

Prepayments

103,127

103,060

Other debtors

4,617

1,594

 

765,915

808,181

 

Ash Plastics (Wolverhampton) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

7

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

8

76,703

66,865

Trade creditors

 

342,075

389,586

Taxation and social security

 

285,459

153,597

Accruals and deferred income

 

119,091

59,490

Other creditors

 

3,729

90,000

 

827,057

759,538

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

8

89,012

57,727

8

Loans and borrowings

Non-current loans and borrowings

2025
£

2024
£

Bank borrowings

5,000

15,000

Finance lease liabilities

84,012

42,727

89,012

57,727

Current loans and borrowings

2025
£

2024
£

Bank borrowings

10,000

10,000

Hire purchase contracts

66,703

56,865

76,703

66,865

 

Ash Plastics (Wolverhampton) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £173,483 (2024 - £18,683).