Mar Plastics Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 07349185 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Mar Plastics Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr G J M Jenkins

Mrs C H Jenkins

Mrs K E M Beale

Miss A R M Jenkins

SECRETARY:

Mrs C H Jenkins

REGISTERED OFFICE:

Elmwood

Church Lane

Collingham

WETHERBY

LS22 5AU

REGISTERED NUMBER:

07349185 (England and Wales)

ACCOUNTANTS:

Aysgarth Chartered Accountants

Suite 3b

Kings House

1 King Street

Leeds

LS1 2HH

FIXED ASSETS

Tangible assets

4

72,843

109,472

Investment property

5

2,312,303

2,385,146

2,421,775

CURRENT ASSETS

Debtors

6

18,091

68,404

Cash at bank

418,701

561,832

436,792

630,236

CREDITORS

Amounts falling due within one year

7

276,138

188,453

NET CURRENT ASSETS

160,654

441,783

TOTAL ASSETS LESS CURRENT LIABILITIES

2,545,800

2,863,558

PROVISIONS FOR LIABILITIES

86,500

123,700

NET ASSETS

2,459,300

2,739,858

CAPITAL AND RESERVES

Called up share capital

202

Fair value reserve

8

288,786

Retained earnings

2,170,312

2,450,870

SHAREHOLDERS' FUNDS

2,459,300

2,739,858

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 December 2025 and were signed on its behalf by:

Mr G J M Jenkins - Director

1.	STATUTORY INFORMATION

Mar Plastics Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 as modified by the revaluation of certain assets.

Turnover

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Fixtures and fittings

-

33.3% on cost

Motor vehicles

-

25% on cost

All tangible fixed assets are recorded at cost, being purchase price, less accumulated depreciation.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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

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

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2024 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

fittings

vehicles

Totals

£

COST

At 1 April 2024

and 31 March 2025

1,640

145,689

147,329

DEPRECIATION

At 1 April 2024

1,434

36,423

37,857

Charge for year

206

36,423

36,629

At 31 March 2025

1,640

72,846

74,486

NET BOOK VALUE

At 31 March 2025

-

72,843

At 31 March 2024

206

109,266

109,472

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

2,312,303

NET BOOK VALUE

At 31 March 2025

2,312,303

At 31 March 2024

2,312,303

Fair value at 31 March 2025 is represented by:

£

Valuation in 2022

385,186

Cost

1,927,117

2,312,303

If investment property had not been revalued it would have been included at the following historical cost:

31/3/25

31/3/24

£

Cost

1,927,117

Investment property was valued on an open market basis on 28 February 2022 by the directors .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/25

31/3/24

£

Trade debtors

-

66,748

Other debtors

18,091

1,656

18,091

68,404

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/25

31/3/24

£

Taxation and social security

268

14,451

Other creditors

275,870

174,002

276,138

188,453

8.

RESERVES

Fair

value

reserve

£

At 1 April 2024

and 31 March 2025

288,786

9.	ULTIMATE CONTROLLING PARTY

The company was under the control of Mr G J M Jenkins and Mrs C H Jenkins throughout the accounting year; they are both directors of the company and together their combined shareholding equates to 98% of the company's shares.