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COMPANY REGISTRATION NUMBER: 01280521
Eastern Plastics Machinery Ltd
Filleted Unaudited Financial Statements
31 December 2024
Eastern Plastics Machinery Ltd
Financial Statements
Year ended 31 December 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
2
Eastern Plastics Machinery Ltd
Statement of Financial Position
31 December 2024
2024
2023
Note
£
£
£
Current assets
Stocks
2,000
2,000
Debtors
6
108,776
47,550
Cash at bank and in hand
54,232
75,753
---------
---------
165,008
125,303
Creditors: amounts falling due within one year
7
37,968
16,005
---------
---------
Net current assets
127,040
109,298
---------
---------
Total assets less current liabilities
127,040
109,298
---------
---------
Net assets
127,040
109,298
---------
---------
Capital and reserves
Called up share capital
51
51
Capital redemption reserve
50
50
Profit and loss account
126,939
109,197
---------
---------
Shareholders funds
127,040
109,298
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 9 June 2025 , and are signed on behalf of the board by:
Mr CW Siddall
Director
Company registration number: 01280521
Eastern Plastics Machinery Ltd
Notes to the Financial Statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 56 Park Lane, Earls Colne, Colchester, Essex, CO6 2RH.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
The turnover shown in the profit and loss account represents amounts invoiced during the period, exclusive of Value Added Tax.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor Vehicles
-
20% straight line
Equipment
-
33 % straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Tangible assets
Motor vehicles
Equipment
Total
£
£
£
Cost
At 1 January 2024 and 31 December 2024
32,005
100,656
132,661
--------
---------
---------
Depreciation
At 1 January 2024 and 31 December 2024
32,005
100,656
132,661
--------
---------
---------
Carrying amount
At 31 December 2024
--------
---------
---------
At 31 December 2023
--------
---------
---------
6. Debtors
2024
2023
£
£
Trade debtors
71,028
18,012
Director's loan account
6,138
Other debtors
31,610
29,538
---------
--------
108,776
47,550
---------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
21,996
9,179
Accruals and deferred income
2,730
2,600
Corporation tax
2,072
Other taxes and social security
11,170
4,222
Other creditors
4
--------
--------
37,968
16,005
--------
--------
8. Director's advances, credits and guarantees
At the year end the company was due from C Siddall £6,138 (2023 - £4 owed from) which is shown amongst debtors.
9. Related party transactions
At the year end the company was owed £30,000 (2023 - £30,000) from a related party which is shown amongst debtors.