Premier Plastic Parts Limited 31/12/2024 iXBRL

Premier Plastic Parts Limited

Filleted accounts

31 December 2024

Company registration number: 03053913

Premier Plastic Parts Limited

Directors and other information


	Directors	C Edlund-Reeve
		J Reeve
		J C Reeve


	Company number	03053913


	Registered office	The Old Dairy
		12 Stephen Road
		Headington
		Oxford
		OX3 9AY


	Auditor	Cox Hinkins Audit Services Limited
		The Old Dairy
		12 Stephen Road
		Headington
		Oxford
		OX3 9AY

Premier Plastic Parts Limited

Directors responsibilities statement

Year ended 31st December 2024

The directors are responsible for preparing the directors report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;

- make judgments and accounting estimates that are reasonable and prudent; and

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Premier Plastic Parts Limited

Balance sheet

31st December 2024

		2024		2023
	Note	£	£	£	£

Fixed assets
Tangible assets	5	238,035		347,252
		_______		_______
			238,035		347,252

Current assets
Stocks		103,162		161,693
Debtors	6	940,081		903,606
Cash at bank and in hand		149,913		70,454
		_______		_______
		1,193,156		1,135,753
Creditors: amounts falling due
within one year	7	( 259,737)		( 522,085)
		_______		_______
Net current assets			933,419		613,668
			_______		_______
Total assets less current liabilities			1,171,454		960,920


Provisions for liabilities	8		( 53,316)		( 79,788)

			_______		_______
Net assets			1,118,138		881,132
			_______		_______

Capital and reserves
Called up share capital	10		68		68
Capital redemption reserve			34		34
Profit and loss account			1,118,036		881,030
			_______		_______
Shareholders funds			1,118,138		881,132
			_______		_______

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 Profit & loss account has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 08 September 2025 , and are signed on behalf of the board by:

J C Reeve

Director

Company registration number: 03053913

Premier Plastic Parts Limited

Notes to the financial statements

Year ended 31st December 2024

1. General information

The company is a private company limited by shares, registered in England & Wales. The address of the registered office is The Old Dairy, 12 Stephen Road, Headington, Oxford, OX3 9AY. There was no significant change in the company's principal activity during the year which continued to be that of injection moulding specialists.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The principal accounting policies are set out below. The financial statements are prepared in sterling which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to profit or loss.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its residual value, over the useful economic life of that asset as follows:


Leasehold improvements	-	Over the term of the lease
Plant and machinery	-	15 %	reducing balance
Fittings fixtures and equipment	-	25 %	reducing balance

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

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. Prior impairments are also reviewed for possible reversal at each reporting date.

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 stocks to their present location and condition. Cost is calculated using the first in, first out formula. Provision is made for damaged, obsolete and slow moving stock where appropriate.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the Balance sheet and the amount of the provision as an expense.

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 asset of the company after deducting all of its liabilities. The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, and loans to related parties. Financial assets that are measured at cost and amortised and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 33 (2023: 24 ).

5. Tangible assets

	Short leasehold property	Plant and machinery	Fixtures, fittings and equipment	Total
	£	£	£	£
Cost
At 1st January 2024	38,213	662,877	148,614	849,704
Additions	-	7,008	6,766	13,774
Disposals	-	( 155,134)	-	( 155,134)
	_______	_______	_______	_______
At 31st December 2024	38,213	514,751	155,380	708,344
	_______	_______	_______	_______
Depreciation
At 1st January 2024	7,740	386,617	108,095	502,452
Charge for the year	3,821	37,595	7,896	49,312
Disposals	-	( 81,455)	-	( 81,455)
	_______	_______	_______	_______
At 31st December 2024	11,561	342,757	115,991	470,309
	_______	_______	_______	_______
Carrying amount
At 31st December 2024	26,652	171,994	39,389	238,035
	_______	_______	_______	_______
At 31st December 2023	30,473	276,260	40,519	347,252
	_______	_______	_______	_______

6. Debtors

	2024	2023
	£	£
Trade debtors	109,573	98,122
Amounts owed by group undertakings and undertakings in which the company has a participating interest	742,336	772,485
Other debtors	88,172	32,999
	_______	_______
	940,081	903,606
	_______	_______

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	78,194	180,317
Amounts owed to group undertakings and undertakings in which the company has a participating interest	29,242	189,605
Social security and other taxes	111,790	142,198
Other creditors	40,511	9,965
	_______	_______
	259,737	522,085
	_______	_______

8. Provisions

	Deferred tax (note 9)	Total
	£	£
At 1st January 2024	79,788	79,788
Charges against provisions	( 26,472)	( 26,472)
	_______	_______
At 31st December 2024	53,316	53,316
	_______	_______

9. Deferred tax

The deferred tax included in the Balance sheet is as follows:

	2024	2023
	£	£
Included in provisions (note 8)	53,316	79,788
	_______	_______

The deferred tax account consists of the tax effect of timing differences in respect of:

	2024	2023
	£	£
Accelerated capital allowances	53,316	79,788
	_______	_______

10. Called up share capital

Issued, called up and fully paid

	2024		2023
	No	£	No	£
Ordinary shares of £ 1.00 each	68	68	68	68
	_______	_______	_______	_______

11. Operating leases

The company as lessee

The total future minimum lease payments under non-cancellable operating leases are as follows:


	£	£

Not later than 1 year	56,100	56,100
Later than 1 year and not later than 5 years	37,400	93,500
	_______	_______
	93,500	149,600
	_______	_______

12. Contingencies

The company's bankers hold a charge over the assets of the company by way of security for any monies which may become due from time to time. At 31st December 2024 the liability covered by this charge amounted to £Nil (2023: £Nil). The company's bankers hold an unlimited multilateral guarantee given by Data Plastics Limited and its trading subsidiaries which includes the company. At 31 December 2024, the liability covered by these charges amounted to £Nil (2023: £Nil).

13. Summary audit opinion

The auditor's report dated 08 September 2025 was unqualified.

The senior statutory auditor was Rodney Mark Morgan for and on behalf of Cox Hinkins Audit Services Limited

14. Controlling party

The company is under the control of Premier Plastics Holdings Ltd which owns 100% of theissued shares.

15. Ultimate parent undertaking

Data Plastics Limited, a company incorporated in England and Wales, is regarded by the directors as being the company's ultimate holding company.