FIRST FIX PLASTICS LTD


Directors	DIXON, Joanne
	HOLMES, David John
	POTTS, Neville


Registered Address	Unit D6 Princesway
	Team Valley Trading Estate
	Gateshead
	NE11 0TU


Registered Number	06840761 (England and Wales)

Balance Sheet as at
31 March 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	4		86,873		86,203
			86,873		86,203
Current assets
Stocks	5	469,445		429,515
Debtors	6	698,463		767,016
Cash at bank and on hand		37,759		108,674
		1,205,667		1,305,205
Creditors amounts falling due within one year	7	(1,229,465)		(1,290,214)
Net current assets (liabilities)			(23,798)		14,991
Total assets less current liabilities			63,075		101,194
Creditors amounts falling due after one year	8		(1,703)		(11,667)
Net assets			61,372		89,527
Capital and reserves
Called up share capital			200		200
Profit and loss account			61,172		89,327
Shareholders' funds			61,372		89,527

The company was entitled to exemption from audit for this reporting period 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 in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 24 November 2025, and are signed on its behalf by:

HOLMES, David John
Director
Registered Company No. 06840761

FIRST FIX PLASTICS LTD

Notes to the Financial Statements
for the year ended 31 March 2025

1.	Accounting policies

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

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Revenue from sale of goods
	Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

Revenue from sale of goods

Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

	Employee benefits
	Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

Employee benefits

Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Tangible fixed assets and depreciation
	All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:


		Straight line (years)
	Land and buildings	3
	Plant and machinery	5

	Stocks and work in progress
	Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

Stocks and work in progress

Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss.

Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

	Related parties
	For the purposes of these financial statements, a related party could be a person or an entity. Careful consideration is given to the definition of a related party to ensure that all related party relationships, transactions and balances are identified.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	14		14

3.	Prior period adjustment
	A prior year adjustment was made in respect of a stock overstatement in the 2023 and 2024 prior year accounts. The 2024 comparative figures have been restated in respect of the overstatement, with an adjustment of £4748 through the statement of profit and loss and a further £42,747 made through the brought forward reserves. Corporation tax for the 2024 period was recalculated, with a reduction of £11,906 which was adjusted for within the comparative figures.

Prior period adjustment

A prior year adjustment was made in respect of a stock overstatement in the 2023 and 2024 prior year accounts.

The 2024 comparative figures have been restated in respect of the overstatement, with an adjustment of £4748 through the statement of profit and loss and a further £42,747 made through the brought forward reserves.

Corporation tax for the 2024 period was recalculated, with a reduction of £11,906 which was adjusted for within the comparative figures.

4.	Tangible fixed assets

	Land & buildings	Plant & machinery	Vehicles	Total
	£	£	£	£
Cost or valuation
At 01 April 24	61,200	108,764	103,145	273,109
Additions	21,198	6,238	-	27,436
At 31 March 25	82,398	115,002	103,145	300,545
Depreciation and impairment
At 01 April 24	16,819	66,942	103,145	186,906
Charge for year	7,797	18,969	-	26,766
At 31 March 25	24,616	85,911	103,145	213,672
Net book value
At 31 March 25	57,782	29,091	-	86,873
At 31 March 24	44,381	41,822	-	86,203

5.	Stocks

	2025	2024
	£	£
Other stocks	469,445	429,515
Total	469,445	429,515

6.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	600,287	596,467
Amounts owed by group undertakings	8,017	84,635
Other debtors	1,678	-
Prepayments and accrued income	88,481	85,914
Total	698,463	767,016

7.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	438,967	469,981
Bank borrowings and overdrafts	486,639	530,905
Amounts owed to related parties	228,147	206,207
Taxation and social security	63,825	73,750
Other creditors	2,276	1,910
Accrued liabilities and deferred income	9,611	7,461
Total	1,229,465	1,290,214

8.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	1,703	11,667
Total	1,703	11,667

9.	Off-balance sheet arrangements
	The company has an invoicing finance facility with Ultimate Finance Limited and the facility is secured against an all assets debenture given by the company and comprising fixed and floating charges over the whole or substantially the whole of the business, assets and undertaking.

10.	Related party transactions
	The following inter-company loans existed at the end of the accounting period where all amounts were owed to the related parties listed by First Fix Plastics Ltd: CMC North East Ltd £227,270 CMC North East Ltd is a related party because the director D Holmes is also director of this company and has significant control over both companies. At the end of the accounting period, the company owed the director D Holmes £877

10.

Related party transactions

The following inter-company loans existed at the end of the accounting period where all amounts were owed to the related parties listed by First Fix Plastics Ltd:

CMC North East Ltd £227,270

CMC North East Ltd is a related party because the director D Holmes is also director of this company and has significant control over both companies.

At the end of the accounting period, the company owed the director D Holmes £877