REGISTERED NUMBER: 05232168 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

LANGSTONE PLASTICS LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

P Lanni

REGISTERED OFFICE:

Burnsall Road

Canley

Coventry

West Midlands

CV5 6BT

REGISTERED NUMBER:

05232168 (England and Wales)

AUDITORS:

HB&O Ltd

Chartered Accountants and Statutory Auditors

Seven Stars House

1 Wheler Road

Coventry

CV3 4LB

BANKERS:

National Westminster Bank

36 Earlsdon Street

Coventry

CV5 6ZZ

FIXED ASSETS

Tangible assets

4

1,438,005

1,338,448

CURRENT ASSETS

Stocks

944,957

767,926

Debtors

2,088,392

2,431,108

3,033,349

3,199,034

CREDITORS

Amounts falling due within one year

1,035,598

907,270

NET CURRENT ASSETS

1,997,751

2,291,764

TOTAL ASSETS LESS CURRENT LIABILITIES

3,435,756

3,630,212

PROVISIONS FOR LIABILITIES

299,123

257,730

NET ASSETS

3,136,633

3,372,482

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

3,136,533

3,372,382

SHAREHOLDERS' FUNDS

3,136,633

3,372,482

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 8 April 2025 and were signed by:

P Lanni - Director

1.	STATUTORY INFORMATION

Langstone Plastics Limited 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.

The accounts have been prepared in accordance with applicable accounting standards. The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year.

Turnover

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:-

Sale of goods

Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on despatch of goods.

Tangible fixed assets

Depreciation is provided on all tangible fixed assets at rates calculated to write out each asset down to its estimated residual value evenly over its expected useful life, as follows:

Leasehold property improvements

over remaining life of lease

Plant and machinery

over 4 to 10 years or estimate of useful hours

Equipment, fixtures and fittings

over 4 years

Motor vehicles

over 4 years

Tangible fixed assets are carried at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks

Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase and other costs incurred in bringing stock to its 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.

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.

Leased assets and obligations

All leases are operating leases and the annual rentals are charged to the profit and loss account on a straight line basis over the lease term.

Financial instruments

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 47 (2023 - 44 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2024

7,288,566

Additions

402,939

Disposals

(764,763

)

At 31 December 2024

6,926,742

DEPRECIATION

At 1 January 2024

5,950,118

Charge for year

260,394

Eliminated on disposal

(721,775

)

At 31 December 2024

5,488,737

NET BOOK VALUE

At 31 December 2024

1,438,005

At 31 December 2023

1,338,448

5.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Wayne Gutteridge ACA (Senior Statutory Auditor)

for and on behalf of HB&O Ltd

6.	PENSION COMMITMENTS

The company operates a defined contribution pension scheme with the assets of the scheme held separately from those of the company. The pension charge relating to the defined contribution pensions scheme for the year was £28,218 (2023: £26,429). Outstanding contributions at the year end amounted to £5,907 (2023: £5,965).

7.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Fox Lima Holdings Limited - Company under common influence.

During the financial year, the company was charged rent of £240,000 (2023: £240,000) by Fox Lima Holdings Limited and was owed £2,034,592 (2023: £2,380,804) as at 31 December 2024 by Fox Lima Holdings Limited.

8.	ULTIMATE PARENT UNDERTAKING AND CONTROLLING PARTY

The controlling party is Barnes Lincoln Investments Limited.

Barnes Lincoln Investments Limited consolidates these financial statements, and these are available on request from the registered office address:

Burnsall Road

Canley

Coventry

West Midlands

CV5 6BT

Mr P Lanni is the company's overall controlling party.