Horen Plastics Uk Ltd,Ltd - AccountsLtd

Registered Number :

14127062

As at 31 December 2024

Horen Plastics Uk Ltd

Statement of Financial Position

2023

2024

Notes

Fixed assets

Property, plant and equipment

350,012

165,240

350,012

165,240

Current assets

Inventories

92,430

144,307

Trade and other receivables

212,631

313,279

1,002,238

Cash and cash equivalents

252,684

710,270

1,307,299

Trade and other payables: amounts falling due within one

year

(786,610)

(338,287)

520,689

371,983

Net current assets

Total assets less current liabilities

721,995

685,929

Trade and other payables: amounts falling due after more

than one year

(639,969)

(847,063)

(50,836)

Provisions for liabilities

(175,904)

Net assets/liabilities

45,960

Capital and reserves

Called up share capital

100

Retained earnings

(176,004)

45,860

(175,904)

45,960

Shareholders' funds

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Martin Thornhill Director

These financial statements were approved and authorised for issue by the Board on 30 September 2025 and were signed by:

The notes form part of these financial statements

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For the year ended 31 December 2024

Horen Plastics Uk Ltd

Notes to the Financial Statements

Statutory Information

Horen Plastics Uk Ltd is a private limited company, limited by shares, domiciled in England and Wales, registration

number 14127062.

Principal place of business:

20 Perrins Field

Upton-Upon-Severn

Worcester

England

WR8 0ER

Registered address:

28-29 New Road

Kidderminster

England

DY10 1AF

The presentation currency is £ sterling.

1. Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A of Financial

Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the

Companies Act 2006. The financial statements have been prepared under the historical costs convention.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary

amounts in these financial statements are rounded to the nearest £.

At the time of approving the financial statements the director has a reasonable expectation that the group of which

this company forms part has adequate resources to continue in operational existence for the foreseeable future.

The ultimate parent company has confirmed continued support to the United Kingdom operations, it is on this

premise that the going concern basis of accounting is adopted in the preparation of these financial statements.

Significant judgements and estimates

In the application of the company's accounting policies, the directors are required to make judgements,estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparentfrom other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accountingestimates are recognised in the period in which the estimate is revised where the revision affects only thatperiod, or in the period of the revision and future periods where the revision affects both current and futureperiods.

Revenue recognition

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

Property, plant and equipment

Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Plant and Machinery

33% Straight line

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For the year ended 31 December 2024

Horen Plastics Uk Ltd

Notes to the Financial Statements Continued

Inventories

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Costcomprises direct materials and, where applicable, direct labour costs and those overheads that have beenincurred in bringing the stocks to their present location and condition. At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Deferred tax

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatmentof certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

Foreign currencies

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 at the date of transaction. Exchange rate differences are taken into account in arriving at the operating result.

Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to

determine whether there is any indication that those assets have suffered an impairment loss. If any such

indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the

impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset,

the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the

asset is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to

apply. Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the

revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying

amount that would have been determined had no impairment loss been recognised for the asset in prior years. A

reversal of an impairment loss is recognised immediately in profit or loss.

Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as

reported in the profit and loss account because it excludes items of income or expense that are taxable or

deductible in other years and it further excludes 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

reporting end date.

Deferred tax

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment

of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

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For the year ended 31 December 2024

Horen Plastics Uk Ltd

Notes to the Financial Statements Continued

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other

Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to

the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when

there is a legally 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at

transaction price including transaction costs and are subsequently carried at amortised cost using the effective

interest method. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual

arrangements entered into. An equity instrument is any contract that evidences a residual interest in the

assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, and loans from fellow group companies are initially recognised at

transaction price. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of

business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or

less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at

transaction price and subsequently measured at amortised cost using the effective interest method.

2. Property, plant and equipment

Plant and

Machinery

Cost or

valuation

At 01 January 2024

237,652

362,685

Additions

At 31 December 2024

600,337

Provision for depreciation and impairment

At 01 January 2024

72,412

Charge for year

177,913

At 31 December 2024

250,325

At 31 December 2024

Net book value

350,012

At 31 December 2023

165,240

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For the year ended 31 December 2024

Horen Plastics Uk Ltd

Notes to the Financial Statements Continued

3. Inventories

2023

2024

Stocks

144,307

92,430

4. Trade and other receivables

2023

2024

Trade debtors

305,248

200,855

Other debtors

8,031

11,776

212,631

313,279

5. Trade and other payables: amounts falling due within one year

2023

2024

Trade creditors

279,514

656,479

Taxation and social security

46,773

118,131

Other creditors

12,000

338,287

786,610

6. Trade and other payables: amounts falling due after more than one year

2023

2024

Amounts owed to group undertaking and undertaking in which the

company has a participating interest

847,063

639,969

7. Related party transactions

The company has taken advantage of exemption, in accordance with section 33 of FRS102, not to disclose related

party transactions with wholly owned subsidiaries within the group.

8. Average number of persons employed

During the year the average number of employees was 1 (2023 : 1)

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