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REGISTERED NUMBER: SC312673 (Scotland)















Unaudited Financial Statements for the Year Ended 30 September 2024

for

BEC Plastics Limited

BEC Plastics Limited (Registered number: SC312673)






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


BEC Plastics Limited

Company Information
for the Year Ended 30 September 2024







DIRECTOR: C McKinnon





REGISTERED OFFICE: 76 Dumbarton Road
Clydebank
Glasgow
G81 1UG





REGISTERED NUMBER: SC312673 (Scotland)





ACCOUNTANTS: Graham & Co. (Accountants) Limited
76 Dumbarton Road
Clydebank
Glasgow
G81 1UG

BEC Plastics Limited (Registered number: SC312673)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £    £   
FIXED ASSETS
Investments 4 448,712 448,712
Investment property 5 400,000 400,000
848,712 848,712

CURRENT ASSETS
Debtors 6 341,213 -

CREDITORS
Amounts falling due within one year 7 529,969 227,040
NET CURRENT LIABILITIES (188,756 ) (227,040 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

659,956

621,672

PROVISIONS FOR LIABILITIES 38,881 38,881
NET ASSETS 621,075 582,791

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 9 155,524 155,524
Retained earnings 465,451 427,167
SHAREHOLDERS' FUNDS 621,075 582,791

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 director acknowledges his 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.

BEC Plastics Limited (Registered number: SC312673)

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 director and authorised for issue on 26 June 2025 and were signed by:





C McKinnon - Director


BEC Plastics Limited (Registered number: SC312673)

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

1. STATUTORY INFORMATION

BEC Plastics Limited is a private company, limited by shares , registered in Scotland. 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 as modified by the revaluation of certain assets.

Significant judgements and estimates
Preparation of the financial statements requires management to make significant judgements and estimates. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

Changes to estimates and underlying assumptions are recognised in the period in which the estimate is revised, where the revision affects only that period, or in the period of the revision and future periods, where the revision affects both current and future periods.

The directors are of the opinion that there are no matters of significant judgements, estimates and assumptions that have significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
Financial assets and liabilities are recognised when the Company becomes a party to the contractual provisions of the financial instrument. The Company holds basic financial instruments which comprise cash and cash equivalents, trade and other debtors, trade and other creditors and
loans from banks and other related parties.

Cash and cash equivalents comprise cash in hand and deposits held with banks.

Trade and other debtors are initially recognised at the transaction cost, less any provision for impairment. At the end of each reporting year, the company assesses whether there is objective evidence that any asset may be impaired. A provision for impairment is established when there is objective evidence that the Company will not be able to collect all the amounts due according to the original terms of the financial assets. the amount of the provision is recognised immediately in the statement of income and retained earnings.

Trade and other creditors are measured initially at the transaction price including any transaction costs. Amounts that are payable within one year are measured at the undiscounted amount expected to be payable.

Bank loans are recognised at the fixed amount to be repaid.


BEC Plastics Limited (Registered number: SC312673)

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

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

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

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 October 2023
and 30 September 2024 448,712
NET BOOK VALUE
At 30 September 2024 448,712
At 30 September 2023 448,712

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2023
and 30 September 2024 400,000
NET BOOK VALUE
At 30 September 2024 400,000
At 30 September 2023 400,000

BEC Plastics Limited (Registered number: SC312673)

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

5. INVESTMENT PROPERTY - continued

Fair value at 30 September 2024 is represented by:
£   
Valuation in 2020 25,524
Valuation in 2022 130,000
Cost 244,476
400,000

If had not been revalued would have been included at the following historical cost:

30.9.24 30.9.23
£    £   
Cost 244,476 244,476

The investment properties were valued on a fair value basis on 8 August 2022 by the directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Amounts owed by group undertakings 341,213 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Amounts owed to group undertakings 508,646 208,646
Taxation and social security 13,425 10,496
Other creditors 7,898 7,898
529,969 227,040

8. SECURED DEBTS

The following secured debts are included within creditors:

30.9.24 30.9.23
£    £   

The Royal Bank of Scotland Plc hold a Standard Security over 'All and Whole the Subjects known as 16, 17, 18, 19 and 20 Lenziemill Road, Cumbernauld, Glasgow G67 2RL - and a floating charge covering all the property or undertaking of the company.

9. RESERVES
Fair
value
reserve
£   
At 1 October 2023
and 30 September 2024 155,524

BEC Plastics Limited (Registered number: SC312673)

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

10. RELATED PARTY DISCLOSURES

During the year the company rented premises on a commercial basis to its subsidiary Wardpark Industries Ltd. The rent charged within the year to 30 September 2024 was £54,000 (2023 - £54,000).

Included in Debtors is a balance due by Wardpark Industries Ltd £341,213.
Included in Creditors is a balance due to BEC Plastics Holdings Ltd £508,646 (2023 - £208,646).

Dividends totalling £300,000 were declared in relation to BEC Plastics Holdings Ltd.

At 30 September 2024, Mr C McKinnon was also a director of Wardpark Industries Ltd, BEC Plastics Holdings Ltd and BEC industries Ltd.

11. ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of BEC Industries Ltd which is controlled by Colin McKinnon.