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REGISTERED NUMBER: 01877977 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2024

for

E.S.P. Plastics Ltd

E.S.P. Plastics Ltd (Registered number: 01877977)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


E.S.P. Plastics Ltd

Company Information
for the Year Ended 30 September 2024







DIRECTORS: G Beales
Miss P Ritson





REGISTERED OFFICE: Esp Commercial Centre
Prospect Road
Crook
Durham
DL15 8JL





REGISTERED NUMBER: 01877977 (England and Wales)





ACCOUNTANTS: Douglas Shaw Limited
7 Brenkley Way
Blezard Business Park
Seaton Burn
Tyne and Wear
NE13 6DS

E.S.P. Plastics Ltd (Registered number: 01877977)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 335,459 377,104

CURRENT ASSETS
Stocks 382,987 347,948
Debtors 5 731,530 963,114
Cash at bank 608,076 394,339
1,722,593 1,705,401
CREDITORS
Amounts falling due within one year 6 458,194 490,650
NET CURRENT ASSETS 1,264,399 1,214,751
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,599,858

1,591,855

PROVISIONS FOR LIABILITIES 83,617 93,967
NET ASSETS 1,516,241 1,497,888

CAPITAL AND RESERVES
Called up share capital 1,092,102 1,092,102
Revaluation reserve 7 26,580 26,580
Retained earnings 7 397,559 379,206
1,516,241 1,497,888

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

E.S.P. Plastics Ltd (Registered number: 01877977)

Balance Sheet - continued
30 September 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 26 June 2025 and were signed on its behalf by:





G Beales - Director


E.S.P. Plastics Ltd (Registered number: 01877977)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

E.S.P. Plastics Ltd 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 20% on reducing balance
Plant and machinery - at variable rates on reducing balance
Fixtures and fittings - 33% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

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 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.


E.S.P. Plastics Ltd (Registered number: 01877977)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued
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.

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 23 (2023 - 27 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 October 2023 5,934 885,390 66,168 39,339 996,831
Additions - - - 14,000 14,000
Disposals - - - (8,300 ) (8,300 )
At 30 September 2024 5,934 885,390 66,168 45,039 1,002,531
DEPRECIATION
At 1 October 2023 4,698 533,209 54,622 27,198 619,727
Charge for year 247 42,262 3,811 3,143 49,463
Eliminated on disposal - - - (2,118 ) (2,118 )
At 30 September 2024 4,945 575,471 58,433 28,223 667,072
NET BOOK VALUE
At 30 September 2024 989 309,919 7,735 16,816 335,459
At 30 September 2023 1,236 352,181 11,546 12,141 377,104

E.S.P. Plastics Ltd (Registered number: 01877977)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 595,167 460,326
Other debtors 37,621 450,312
Directors' current accounts 98,742 52,476
731,530 963,114

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Bank loans and overdrafts - 3,531
Trade creditors 312,750 226,971
Tax 22,663 119,866
Social security and other taxes 81,656 98,532
Other creditors 41,125 41,750
458,194 490,650

7. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 October 2023 379,206 26,580 405,786
Profit for the year 47,375 47,375
Dividends (29,022 ) (29,022 )
At 30 September 2024 397,559 26,580 424,139

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 September 2024 and 30 September 2023:

30.9.24 30.9.23
£    £   
G Beales
Balance outstanding at start of year 36,448 (152 )
Amounts advanced - 36,600
Amounts repaid (3,734 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 32,714 36,448

E.S.P. Plastics Ltd (Registered number: 01877977)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Miss P Ritson
Balance outstanding at start of year 16,028 -
Amounts advanced 50,000 16,028
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 66,028 16,028