REGISTERED NUMBER: 07558365 (England and Wales)

Financial Statements for the Year Ended 31 March 2025

for

Newquay Plastics Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

K Karrington

Mrs S L Karrington

REGISTERED OFFICE:

Units 6a & 6b

St Columb Industrial Estate

St Columb

Cornwall

TR9 6SF

REGISTERED NUMBER:

07558365 (England and Wales)

ACCOUNTANTS:

Sovereign Accounting Solutions

Chartered Accountants and Business Advisers

Unit 9

Moorland Road Industrial Park

Moorland Road, Indian Queens

St Columb

Cornwall

TR9 6FB

FIXED ASSETS

Intangible assets

4

27,000

31,500

Tangible assets

5

162,490

140,231

189,490

171,731

CURRENT ASSETS

Stocks

82,688

69,938

Debtors

6

36,987

83,295

Cash at bank

173,251

135,331

292,926

288,564

CREDITORS

Amounts falling due within one year

7

222,804

221,288

NET CURRENT ASSETS

70,122

67,276

TOTAL ASSETS LESS CURRENT LIABILITIES

259,612

239,007

CREDITORS

Amounts falling due after more than one year

8

(73,694

)

(77,901

)

PROVISIONS FOR LIABILITIES

(27,664

)

(16,888

)

NET ASSETS

158,254

144,218

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

158,154

144,118

SHAREHOLDERS' FUNDS

158,254

144,218

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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.

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 3 September 2025 and were signed on its behalf by:

Mrs S L Karrington - Director

1.	STATUTORY INFORMATION

Newquay 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of twenty years.

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Land and buildings

-

Straight line over the life of the lease

Plant and machinery etc

-

20% on reducing balance and 15% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2024 - 21 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

90,000

AMORTISATION

At 1 April 2024

58,500

Charge for year

4,500

At 31 March 2025

63,000

NET BOOK VALUE

At 31 March 2025

27,000

At 31 March 2024

31,500

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2024

9,900

358,878

368,778

Additions

-

60,577

60,577

Disposals

-

(2,700

)

(2,700

)

At 31 March 2025

9,900

416,755

426,655

DEPRECIATION

At 1 April 2024

9,900

218,647

228,547

Charge for year

-

37,752

37,752

Eliminated on disposal

-

(2,134

)

(2,134

)

At 31 March 2025

9,900

254,265

264,165

NET BOOK VALUE

At 31 March 2025

-

162,490

162,490

At 31 March 2024

-

140,231

140,231

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 April 2024

145,625

Additions

53,627

At 31 March 2025

199,252

DEPRECIATION

At 1 April 2024

47,438

Charge for year

29,209

At 31 March 2025

76,647

NET BOOK VALUE

At 31 March 2025

122,605

At 31 March 2024

98,187

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

34,475

80,343

Other debtors

2,512

2,952

36,987

83,295

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

10,000

10,000

Hire purchase contracts

40,573

27,744

Trade creditors

90,983

83,061

Taxation and social security

53,504

43,361

Other creditors

27,744

57,122

222,804

221,288

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans

1,667

11,667

Hire purchase contracts

72,027

66,234

73,694

77,901

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

£

Hire purchase contracts

112,600

93,978