Registration number: 06880147

Plastic Innovations Ltd

Contents

Company Information	1
Accountants' Report	2
Balance Sheet	3 to 4
Notes to the Unaudited Financial Statements	5 to 11

Plastic Innovations Ltd

Company Information

Directors

Mr Mark Falkingham Mrs Amanda Roskilly Mr Stephen Roskilly

Registered office

Shop 2, 130 Hagley Road Hayley Green Halesowen West Midlands B63 1DY

Accountants

Mr Colin Barrett AIMS Accountants for Business Shop 2, 130 Hagley Road Hayley Green Halesowen West Midlands B63 1DY

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Plastic Innovations Ltd
for the Year Ended 31 December 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Plastic Innovations Ltd for the year ended 31 December 2024 as set out on pages 3 to 11 from the company's accounting records and from information and explanations you have given us.

As practising members of the Association of Accounting Technicians, we are subject to its ethical and other professional requirements which are detailed at www.aat.org.uk/about-aat/professional-ethics

This report is made solely to the Board of Directors of Plastic Innovations Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Plastic Innovations Ltd and state those matters that we have agreed to state to the Board of Directors of Plastic Innovations Ltd, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Plastic Innovations Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Plastic Innovations Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Plastic Innovations Ltd. You consider that Plastic Innovations Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Plastic Innovations Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Mr Colin Barrett
AIMS Accountants for Business
Shop 2, 130 Hagley Road
Hayley Green
Halesowen
West Midlands
B63 1DY

26 September 2025

Plastic Innovations Ltd

(Registration number: 06880147)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	90,716	126,432
Current assets
Stocks	5	72,166	115,823
Debtors	6	182,041	221,796
Cash at bank and in hand		154,556	169,610
		408,763	507,229
Creditors: Amounts falling due within one year	7	(412,722)	(378,307)
Net current (liabilities)/assets		(3,959)	128,922
Total assets less current liabilities		86,757	255,354
Creditors: Amounts falling due after more than one year	7	(46,689)	(85,623)
Net assets		40,068	169,731
Capital and reserves
Called up share capital	8	215	215
Retained earnings		39,853	169,516
Shareholders' funds		40,068	169,731

Plastic Innovations Ltd

(Registration number: 06880147)
Balance Sheet as at 31 December 2024

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 26 September 2025 and signed on its behalf by:
 

......................................... Mr Mark Falkingham Director

Plastic Innovations Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Shop 2, 130 Hagley Road
Hayley Green
Halesowen
West Midlands
B63 1DY

The principal place of business is:
2a Daimler Close
Royal Oak Industrial Estate
Daventry
Northants
NN11 8QJ

These financial statements were authorised for issue by the Board on 26 September 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Plastic Innovations Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	Straight line 25%
Equipment	Straight line 20%
Furniture and fittings	Straight line 25%

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Plastic Innovations Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Plastic Innovations Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 12 (2023 - 12).

Plastic Innovations Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4	Tangible assets

	Furniture, fittings and equipment  £	Other tangible assets £	Total £
Cost or valuation
At 1 January 2024	27,424	325,921	353,345
Additions	-	5,990	5,990
At 31 December 2024	27,424	331,911	359,335
Depreciation
At 1 January 2024	27,424	199,489	226,913
Charge for the year	-	41,706	41,706
At 31 December 2024	27,424	241,195	268,619
Carrying amount
At 31 December 2024	-	90,716	90,716
At 31 December 2023	-	126,432	126,432

5

Stocks

	2024 £	2023 £
Raw materials and consumables	49,696	92,615
Work in progress	7,480	10,467
Finished goods and goods for resale	14,990	12,741
	72,166	115,823

6

Debtors

Current	2024 £	2023 £
Trade debtors	174,939	211,260
Prepayments	6,082	9,516
Other debtors	1,020	1,020
	182,041	221,796

Plastic Innovations Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

7

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Loans and borrowings	9	30,628	34,671
Trade creditors		78,610	76,142
Taxation and social security		45,580	59,176
Accruals and deferred income		189,178	191,381
Other creditors		68,726	16,937
		412,722	378,307

Creditors: amounts falling due after more than one year

	Note	2024 £	2023 £
Due after one year
Loans and borrowings	9	46,689	85,623

8	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary share class 1 of £1 each	100	100	100	100
Ordinary share class 2 of £1 each	115	115	115	115
	215	215	215	215

Plastic Innovations Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

9	Loans and borrowings

Non-current loans and borrowings

	2024 £	2023 £
Bank borrowings	13,196	21,502
Hire purchase contracts	33,493	64,121
	46,689	85,623

Current loans and borrowings

	2024 £	2023 £
Hire purchase contracts	30,628	34,671

10

Dividends

Interim dividends paid

		2024 £		2023 £
Interim dividend of £1,017.00 (2023 - £192.00) per each Ordinary share class 1		101,700		19,200
Interim dividend of £540.00 per each Ordinary share class 2		62,100		62,100
		163,800		81,300

11	Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

	2024 £	2023 £
Remuneration	9,947	12,583