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REGISTERED NUMBER: NI064142 (Northern Ireland)















DONITE PLASTICS LTD

Unaudited Financial Statements for the Year Ended 30 September 2024






DONITE PLASTICS LTD (REGISTERED NUMBER: NI064142)






Contents of the Financial Statements
FOR THE YEAR ENDED 30 SEPTEMBER 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


DONITE PLASTICS LTD

Company Information
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: Michael Knight
Stephen Kissick
Patrick Knight





REGISTERED OFFICE: 8 Station Road
Saintfield
Co. Down
BT24 7DU





REGISTERED NUMBER: NI064142 (Northern Ireland)





ACCOUNTANTS: CavanaghKelly
Chartered Accountants
36-38 Northland Row
Dungannon
Co. Tyrone
BT71 6AP

DONITE PLASTICS LTD (REGISTERED NUMBER: NI064142)

Statement of Financial Position
30 SEPTEMBER 2024

2024 2023
Notes £ £
NON-CURRENT ASSETS
Intangible assets 5 2,000 3,000
Property, plant and equipment 6 1,250,039 1,028,172
1,252,039 1,031,172

CURRENT ASSETS
Inventories 410,773 285,453
Receivables 7 1,088,198 647,715
Cash at bank 136,446 25,793
1,635,417 958,961
PAYABLES
Amounts falling due within one year 8 (381,722 ) (250,407 )
NET CURRENT ASSETS 1,253,695 708,554
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,505,734

1,739,726

PAYABLES
Amounts falling due after more than
one year

9

(170,295

)

(88,241

)

PROVISIONS FOR LIABILITIES (298,443 ) (241,127 )

GOVERNMENT GRANTS (11,065 ) (14,753 )
NET ASSETS 2,025,931 1,395,605

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 2,025,929 1,395,603
2,025,931 1,395,605

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.

DONITE PLASTICS LTD (REGISTERED NUMBER: NI064142)

Statement of Financial Position - 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 17 June 2025 and were signed on its behalf by:





Michael Knight - Director


DONITE PLASTICS LTD (REGISTERED NUMBER: NI064142)

Notes to the Financial Statements
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1. STATUTORY INFORMATION

Donite Plastics Ltd is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The accounts are prepared under the historical cost convention modified when necessary to include the revaluation of certain fixed assets.

Revenue
Revenue comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax. Revenue is recognised upon delivery of the goods to the customer.

Goodwill
Purchased goodwill arising on the acquisition of a business represents the excess of the acquisition cost over the fair value of the identifiable net assets including other intangible fixed assets when they were acquired. Purchased goodwill is capitalised in the Statement of Financial Position and amortised on a straight line basis over its economic useful life of 10 years, which is estimated to be the period during which benefits are expected to arise. On disposal of a business any goodwill not yet amortised is included in determining the profit or loss on sale of the business.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - Nil
Plant and machinery - 20% reducing balance
Fixtures and fittings - 33% straight line
Motor vehicles - 25% straight line
Computer equipment - 25% straight line

The carrying values of tangible fixed assets are reviewed annually for impairment in periods if
events or changes in circumstances indicate the carrying value may not be recoverable.

Inventories
Inventories are valued at the lower of cost and net realisable value. Cost comprises expenditure incurred in the normal course of business in bringing inventories to their present location and condition. Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.

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 tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


DONITE PLASTICS LTD (REGISTERED NUMBER: NI064142)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Research and development
Development expenditure is written off to the Income Statement in the year in which it is incurred.

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

Property, plant and equipment held under leasing and Hire Purchases arrangements which transfer substantially all the risks and rewards of ownership to the company are capitalised and included in the Statement of Financial Position at their cost or valuation, less depreciation. The corresponding commitments are recorded as liabilities. Payments in respect of these obligations are treated as consisting of capital and interest elements, with interest charged to the Income Statement.

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.

Cash flow statement
The company has availed of the exemption in FRS 102 Section 1A from the requirement to prepare a Statement of Cash Flows because it is classified as a small company.

Government grants
Capital grants received and receivable are treated as deferred income and amortised to the Income Statement annually over the useful economic life of the asset to which it relates. Revenue grants are credited to the Income Statement when received.

Patents
Patents are valued at cost less accumulated amortisation.

Amortisation is calculated to write off the cost in equal annual instalments over their estimated useful life of 10 years.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 34 (2023 - 33 ) .

DONITE PLASTICS LTD (REGISTERED NUMBER: NI064142)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

5. INTANGIBLE FIXED ASSETS
Patents and
Goodwill licences Totals
£ £ £
COST
At 1 October 2023
and 30 September 2024 103,000 10,000 113,000
AMORTISATION
At 1 October 2023 103,000 7,000 110,000
Amortisation for year - 1,000 1,000
At 30 September 2024 103,000 8,000 111,000
NET BOOK VALUE
At 30 September 2024 - 2,000 2,000
At 30 September 2023 - 3,000 3,000

6. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Freehold Plant and and
property machinery fittings
£ £ £
COST
At 1 October 2023 105,037 1,992,897 246,694
Additions 52,167 502,513 -
Disposals - (405,502 ) -
At 30 September 2024 157,204 2,089,908 246,694
DEPRECIATION
At 1 October 2023 - 1,147,311 217,046
Charge for year - 218,258 21,182
Eliminated on disposal - (279,527 ) -
At 30 September 2024 - 1,086,042 238,228
NET BOOK VALUE
At 30 September 2024 157,204 1,003,866 8,466
At 30 September 2023 105,037 845,586 29,648

DONITE PLASTICS LTD (REGISTERED NUMBER: NI064142)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

6. PROPERTY, PLANT AND EQUIPMENT - continued

Motor Computer
vehicles equipment Totals
£ £ £
COST
At 1 October 2023 37,850 43,433 2,425,911
Additions 35,450 1,548 591,678
Disposals - - (405,502 )
At 30 September 2024 73,300 44,981 2,612,087
DEPRECIATION
At 1 October 2023 25,225 8,157 1,397,739
Charge for year (6,646 ) 11,042 243,836
Eliminated on disposal - - (279,527 )
At 30 September 2024 18,579 19,199 1,362,048
NET BOOK VALUE
At 30 September 2024 54,721 25,782 1,250,039
At 30 September 2023 12,625 35,276 1,028,172

7. RECEIVABLES
2024 2023
£ £
Trade receivables 1,087,511 647,589
Other receivables 687 126
1,088,198 647,715

8. PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Hire purchase contracts 55,786 47,023
Trade payables 204,110 79,954
Taxation and social security 109,859 109,891
Other payables 11,967 13,539
381,722 250,407

9. PAYABLES: AMOUNTS FALLING DUE AFTER ONE YEAR
2024 2023
£ £
Hire purchase contracts 170,295 88,241

The bank loan has been secured by way of an all monies floating charge over the assets of the company.

Hire purchase liabilities are secured on the assets to which they relate.

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end, a balance of £687 (2023 - £126) was due to the company by the directors.