REGISTERED NUMBER: 12894320 (England and Wales)

PLASTICOLOR EUROPE LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Balance Sheet

1

Notes to the Financial Statements

2

CURRENT ASSETS

Stocks

5,720

8,613

Debtors

4

12,864

10,655

Cash at bank

19,146

14,919

37,730

34,187

CREDITORS

Amounts falling due within one year

5

147,363

116,038

NET CURRENT LIABILITIES

(109,633

)

(81,851

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(109,633

)

(81,851

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(109,733

)

(81,951

)

SHAREHOLDERS' FUNDS

(109,633

)

(81,851

)

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2025 and were signed on its behalf by:

Ms G M Deflin - Director

1.	STATUTORY INFORMATION

Plasticolor Europe Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

12894320

Registered office:

7-8

Portmill Lane

Hitchin

Hertfordshire

SG5 1DJ

The presentation currency of the financial statements is the US Dollar ($).

The financial statements in question cover the individual entity, Plasticolor Europe Limited, and not the group.

The audit report was unqualified during the period.

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.

Significant judgements and estimates

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion, there are no significant judgements or key sources of estimation uncertainty.

Turnover

The company generates its income from the sale of motor vehicle parts and accessories. Revenue is recognised upon dispatch from the warehouse at which point title and risk passes to the customer.

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

Stocks

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

Financial instruments

The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost 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 the Profit and Loss Account.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation

Taxation for the year comprises current and deferred tax. 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 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.

Foreign currencies

The company presents the financial statements in US Dollar ($) currency. The average exchange rate during the year was $1.2787/£1 and the spot rate at 31 December 2024 was $1.2662/£1.

Going concern

The directors believe that with the help and continued support from the parent company Plasticolor Molded Products Inc., the company will be able to manage its business risks successfully and that the company has adequate resources to continue in operational existence for the foreseeable future. The directors are therefore of the opinion that it is appropriate to prepare the accounts on a going concern basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

$

$

Trade debtors

12,764

10,555

Other debtors

100

100

12,864

10,655

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

$

$

Amounts owed to group undertakings

136,997

106,483

Taxation and social security

882

1,857

Other creditors

9,484

7,698

147,363

116,038

6.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Domenico Maurello (Senior Statutory Auditor)

for and on behalf of Keelings Limited

7.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

8.	ULTIMATE PARENT COMPANY

The ultimate parent company of Plasticolor Europe Limited is LBMB Inc. which was incorporated in the United States.

The registered office of the ultimate parent company is:

801 S.Acacia Avenue,

Fullerton,

CA 92831,

United States.