Acorah Software Products - Accounts Production 16.5.460 false true 31 March 2024 1 April 2023 false 1 April 2024 31 March 2025 31 March 2025 01531156 Mr Andrew Davies Mr Simon Jones Mr Paul White iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 01531156 2024-03-31 01531156 2025-03-31 01531156 2024-04-01 2025-03-31 01531156 frs-core:CurrentFinancialInstruments 2025-03-31 01531156 frs-core:BetweenOneFiveYears 2025-03-31 01531156 frs-core:ComputerEquipment 2025-03-31 01531156 frs-core:ComputerEquipment 2024-04-01 2025-03-31 01531156 frs-core:ComputerEquipment 2024-03-31 01531156 frs-core:NetGoodwill 2025-03-31 01531156 frs-core:NetGoodwill 2024-04-01 2025-03-31 01531156 frs-core:NetGoodwill 2024-03-31 01531156 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2025-03-31 01531156 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-04-01 2025-03-31 01531156 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-03-31 01531156 frs-core:PlantMachinery 2025-03-31 01531156 frs-core:PlantMachinery 2024-04-01 2025-03-31 01531156 frs-core:PlantMachinery 2024-03-31 01531156 frs-core:WithinOneYear 2025-03-31 01531156 frs-core:ShareCapital 2025-03-31 01531156 frs-core:RetainedEarningsAccumulatedLosses 2025-03-31 01531156 frs-bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 01531156 frs-bus:FilletedAccounts 2024-04-01 2025-03-31 01531156 frs-bus:SmallEntities 2024-04-01 2025-03-31 01531156 frs-bus:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 01531156 frs-bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 01531156 frs-bus:Director1 2024-04-01 2025-03-31 01531156 frs-bus:Director2 2024-04-01 2025-03-31 01531156 frs-bus:Director3 2024-04-01 2025-03-31 01531156 frs-countries:EnglandWales 2024-04-01 2025-03-31 01531156 2023-03-31 01531156 2024-03-31 01531156 2023-04-01 2024-03-31 01531156 frs-core:CurrentFinancialInstruments 2024-03-31 01531156 frs-core:BetweenOneFiveYears 2024-03-31 01531156 frs-core:WithinOneYear 2024-03-31 01531156 frs-core:ShareCapital 2024-03-31 01531156 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31
Registered number: 01531156
D.W. Plastics Limited
Unaudited Financial Statements
For The Year Ended 31 March 2025
Approved Accounting Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 01531156
2025 2024
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 500 600
Tangible Assets 5 415,265 443,247
415,765 443,847
CURRENT ASSETS
Stocks 6 591,345 565,110
Debtors 7 4,006,454 3,601,633
Investments 8 1 1
Cash at bank and in hand 864,975 291,222
5,462,775 4,457,966
Creditors: Amounts Falling Due Within One Year 9 (1,191,395 ) (908,358 )
NET CURRENT ASSETS (LIABILITIES) 4,271,380 3,549,608
TOTAL ASSETS LESS CURRENT LIABILITIES 4,687,145 3,993,455
PROVISIONS FOR LIABILITIES
Deferred Taxation (102,550 ) (109,238 )
NET ASSETS 4,584,595 3,884,217
CAPITAL AND RESERVES
Called up share capital 10 1,000 1,000
Profit and Loss Account 4,583,595 3,883,217
SHAREHOLDERS' FUNDS 4,584,595 3,884,217
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For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Paul White
Director
26/09/2025
The notes on pages 3 to 7 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
D.W. Plastics Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01531156 . The registered office is Factory 7 Chandler Road, Chichester, West Sussex, PO19 8UE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006
Preparation of consolidated financial statements
The financial statements contain information about D.W. Plastics Limited as an individual company and do not contain consolidation financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies ACt 2006 from the requirements to prepare consolidated financial statements
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of ten years.
2.4. Research and Development
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight line basis over their expected useful economic lives.
If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold in accordance with the property lease
Plant & Machinery 15% on reducing balance
Computer Equipment 33% on cost
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.7. Financial Instruments
Financial instruments are classified by the directors as basic or advanced following the conditions in FRS102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method, unless the effect of discounting would be immaterial, in which case they are stated at cost. The company has no advanced financial instruments.
2.8. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.9. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.10. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.11. Leasing commitments
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease
2.12. Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 28 (2024: 32)
28 32
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4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2024 1,000
As at 31 March 2025 1,000
Amortisation
As at 1 April 2024 400
Provided during the period 100
As at 31 March 2025 500
Net Book Value
As at 31 March 2025 500
As at 1 April 2024 600
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2024 137,828 1,973,044 84,286 2,195,158
Additions - 59,585 3,640 63,225
As at 31 March 2025 137,828 2,032,629 87,926 2,258,383
Depreciation
As at 1 April 2024 82,154 1,598,102 71,655 1,751,911
Provided during the period 18,744 63,758 8,705 91,207
As at 31 March 2025 100,898 1,661,860 80,360 1,843,118
Net Book Value
As at 31 March 2025 36,930 370,769 7,566 415,265
As at 1 April 2024 55,674 374,942 12,631 443,247
6. Stocks
2025 2024
£ £
Materials 572,814 541,939
Finished goods 18,531 23,171
591,345 565,110
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7. Debtors
2025 2024
£ £
Due within one year
Trade debtors 912,571 745,044
Prepayments and accrued income 97,160 210,061
Amounts owed by group undertakings 2,996,723 2,646,528
4,006,454 3,601,633
8. Current Asset Investments
2025 2024
£ £
Shares in subsidiaries 1 1
The company's investments at the Balance Sheet date in the share capital of companies include the following:
IMI-Teak Ltd
Registered office: C/O D W Plastics Ltd Factory 7 Chandler Road, Terminus Road Industrial Estate, Chichester, West Sussex
Nature of business: Dormant company
                                                                                                      %
Class of shares:                                                                      holding
Ordinary:                                                                                100.00
9. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 672,286 647,133
Corporation tax 227,098 66,491
Other taxes and social security 28,930 30,072
VAT 141,446 104,366
Net wages 500 -
Other creditors 2,095 1,944
Accruals and deferred income 119,040 58,352
1,191,395 908,358
10. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 1,000 1,000
11. Contingent Liabilities
Security has been given to D W Plastics Group Limited, the parent of D.W. Plastics Limited, over loan arrangements where the balance outstanding at the year end in D W Plastics Group Limited amounted to £333,334 (2024: £625,000)
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12. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2025 2024
£ £
Not later than one year 129,031 130,324
Later than one year and not later than five years 124,935 253,966
253,966 384,290
13. Related Party Transactions
At the Balance Sheet date there was an amount due from D W Plastics Group Limited of £2,996,723 (2024 - £2,646,528). This loan is repayable on demand. No interest was charged on this loan.
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