Glendenning Plastics Limited Filleted accounts for Companies House (small and micro)

STATEMENT OF CONSENT TO PREPARE ABRIDGED FINANCIAL STATEMENTS

All of the members of Glendenning Plastics Limited have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

COMPANY REGISTRATION NUMBER: 00853676

GLENDENNING PLASTICS LIMITED

FILLETED ABRIDGED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 December 2024

GLENDENNING PLASTICS LIMITED

DIRECTORS' RESPONSIBILITIES STATEMENT

YEAR ENDED 31 DECEMBER 2024

The directors are responsible for preparing the directors' report and the abridged financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare abridged financial statements for each financial year. Under that law the directors have elected to prepare the abridged 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 abridged 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 abridged 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; - prepare the abridged 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 abridged 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.

GLENDENNING PLASTICS LIMITED

ABRIDGED STATEMENT OF FINANCIAL POSITION

31 December 2024

	2024		2023
Note	£	£	£	£

Fixed assets

Tangible assets	5		827,317		867,524

Current assets

Stocks	208,572	195,004
Debtors	1,946,149	1,497,571
Cash at bank and in hand	452,546	615,110
	--------------	--------------
	2,607,267	2,307,685

Creditors: amounts falling due within one year	1,136,595		818,059
	--------------		--------------
Net current assets		1,470,672		1,489,626
		--------------		--------------
Total assets less current liabilities		2,297,989		2,357,150

Creditors: amounts falling due after more than one year	6		146,326		219,856

Provisions

Taxation including deferred tax	158,217	178,296
	--------------	--------------
Net assets	1,993,446	1,958,998
	--------------	--------------

Capital and reserves

Called up share capital	200	200
Profit and loss account	1,993,246	1,958,798
	--------------	--------------
Shareholders funds	1,993,446	1,958,998
	--------------	--------------

These abridged 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 abridged statement of income and retained earnings has not been delivered.

GLENDENNING PLASTICS LIMITED

ABRIDGED STATEMENT OF FINANCIAL POSITION (continued)

31 December 2024

These abridged financial statements were approved by the board of directors and authorised for issue on 26 September 2025 , and are signed on behalf of the board by:

H M Glendenning

Director

Company registration number: 00853676

GLENDENNING PLASTICS LIMITED

NOTES TO THE ABRIDGED 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 27 First Avenue, Pensnett Trading Estate, Kingswinford, West Midlands, DY6 7TZ.

2. Statement of Compliance

These abridged 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 abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The abridged financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The key judgements and estimates that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows: - Provision for stock A provision of 15% has been provided within finished goods on the basis that management believe this accurately reflects the value of redundant stock which is not fully realisable. - Dilapidation provision The company is party to a number of leases agreements for its office and warehouse properties. Under the terms of these leases the company is required to return the properties to their original condition at the end of the lease term. Management has made a judgement that it is probable that costs will be incurred to meet these obligations and therefore a provision is recognised within the financial statements. The amount provided is based on managements best estimate of the expected costs to be be incurred.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, 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.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.

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 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:

Plant & Machinery	-	15% reducing balance
Fixtures & Fittings	-	15% reducing balance
Motor Vehicles	-	25% reducing balance
Computer Equipment	-	33% reducing balance

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. 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 stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the abridged statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

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 abridged statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

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.

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. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee Numbers

The average number of persons employed by the company during the year amounted to 82 (2023: 83 ).

5. Tangible Assets

	£
Cost
At 1 January 2024	5,511,380
Additions	138,147
Disposals	( 74,000)
	--------------
At 31 December 2024	5,575,527
	--------------
Depreciation
At 1 January 2024	4,643,856
Charge for the year	160,793
Disposals	( 56,439)
	--------------
At 31 December 2024	4,748,210
	--------------
Carrying amount
At 31 December 2024	827,317
	--------------
At 31 December 2023	867,524
	--------------

6. Creditors: amounts falling due after more than one year

Obligations under finance leases and hire purchase contracts are secured by a legal charge on certain assets of the company.

7. Operating Leases

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

	2024	2023
	£	£
Not later than 1 year	436,817	415,779
Later than 1 year and not later than 5 years	1,605,975	1,625,022
Later than 5 years	396,732	793,464
	--------------	--------------
	2,439,524	2,834,265
	--------------	--------------

A new operating lease commenced on 14 May 2025 with an annual commitment of £189,625 payable quarterly and total future minimum lease payments of £888,840 of which £60,725 is due not later than 1 year from the balance sheet date.

8. Summary Audit Opinion

The auditor's report dated 26 September 2025 was unqualified .

The senior statutory auditor was David J Hanby , for and on behalf of Langard Lifford Hall Limited .

9. Related Party Transactions

The parent company, Garland Products Limited, has a minority shareholding in GW3156 Limited. The directors, R S Glendenning and H M Glendenning , are also directors and minority shareholders of GW3156 Limited. During the period, Glendenning Plastics Limited sold goods, for a value of £363,707 (2023: £426,218) to Mansign Mining Equipment Limited a subsidiary of GW3156 Limited. At 31 December 2024 Mansign Mining Equipment Limited owed Glendenning Plastics Limited £26,587 (2023: £38,117). The director, R S Glendenning, has a minority shareholding in Build Works Solutions Limited. During the period, Glendenning Plastics Limited sold goods, for a value of £3,234 (2023: £-) to Build Works Solutions Limited and purchased goods, for a value of £- (2023: £400) from Build Works Solutions Limited.

10. Controlling Party

The company's ultimate parent company is Garland Products Limited , a company incorporated in the United Kingdom whose registered office is 27 First Avenue, Pensnett Estate, Kingswinford, DY6 7TZ. The financial statements of Garland Products Limited can be obtained from Companies House.