Global Resins Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 10

Global Resins Limited

Company Information

Directors

M N Hempleman-Adams S J Earl J S Mitchell

Registered office

Unit 7 Park Lane Industrial Estate Corsham Wiltshire SN13 9LG

Registered Number

02960700

Accountants

Verinder Powell Associates Limited Suite 5 Corum 2 Corum Office Park Crown Way Warmley Bristol BS30 8FJ

Global Resins Limited

(Registration number: 02960700)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	5	131,657	89,032
Investments	6	1,410	763
		133,067	89,795
Current assets
Stocks		425,650	366,456
Debtors	7	509,990	799,612
Cash at bank and in hand		1,052,124	1,122,244
		1,987,764	2,288,312
Creditors: Amounts falling due within one year	8	(273,840)	(564,061)
Net current assets		1,713,924	1,724,251
Total assets less current liabilities		1,846,991	1,814,046
Provisions for liabilities		(28,120)	(23,625)
Net assets		1,818,871	1,790,421
Capital and reserves
Called up share capital		5,302	5,302
Retained earnings		1,813,569	1,785,119
Shareholders' funds		1,818,871	1,790,421

Global Resins Limited

(Registration number: 02960700)
Balance Sheet as at 31 March 2025

For the financial year ending 31 March 2025 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 and 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 22 December 2025 and signed on its behalf by:
 

......................................... M N Hempleman-Adams Director

Global Resins Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1	General information

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

The address of its registered office is:
Unit 7
Park Lane Industrial Estate
Corsham
Wiltshire
SN13 9LG

These financial statements were authorised for issue by the Board on 22 December 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). There have been no material departures from the Financial Reporting Standard 102 1A.

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. The financial statements are prepared in Pounds Sterling (£), and are rounded to the nearest pound.

Turnover

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.

Grants

Grants have been recognised on an accruals basis and have been recognised in the same period in which the related expense has been incurred.

Global Resins Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell, which is equivalent to net realisable value.

The cost of finished goods and work in progress comprises all costs of purchase, 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.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents are being amortised evenly over their estimated useful life of five years.

Development costs are being amortised evenly over their estimated useful life of five years.

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 provided at the following annual rates in order to write off each asset over its estimated useful life:

Asset class	Depreciation method and rate
Leasehold property improvements	Over the term of lease
Plant and machinery	25% on reducing balance
Furniture, fittings and equipment	25% on reducing balance
Motor vehicles	25% on reducing balance

Investments

Investments are recognised in the financial statements at market value.

Research and development

Research expenditure is written off to the profit and loss account in the year in which it is incurred. Development expenditure is written off in the same way unless the directors are satisfied as to the technical, commercial and financial viability of individual projects.

Global Resins Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

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.

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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

The current 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Global Resins Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Hire purchase and leasing commitments
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 obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the Company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

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.

Defined contribution pension obligation

The company operates a define contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. Once the contributions have been paid, the company has no further payment obligations.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 17 (2024 - 15).

Global Resins Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4	Intangible assets

	Patents £	Development costs £	Total £
Cost or valuation
At 1 April 2024	6,852	533,719	540,571
At 31 March 2025	6,852	533,719	540,571
Amortisation
At 1 April 2024	6,852	533,719	540,571
At 31 March 2025	6,852	533,719	540,571
Carrying amount
At 31 March 2025	-	-	-
At 31 March 2024	-	-	-

5	Tangible assets

	Leasehold property improvements £	Plant and machinery £	Furniture, fittings and equipment £	Motor vehicles  £	Total £
Cost or valuation
At 1 April 2024	8,361	583,181	115,489	43,203	750,234
Additions	-	13,758	54,590	-	68,348
At 31 March 2025	8,361	596,939	170,079	43,203	818,582
Depreciation
At 1 April 2024	8,361	513,242	98,392	41,207	661,202
Charge for the year	-	19,295	5,929	499	25,723
At 31 March 2025	8,361	532,537	104,321	41,706	686,925
Carrying amount
At 31 March 2025	-	64,402	65,758	1,497	131,657
At 31 March 2024	-	69,939	17,097	1,996	89,032

Global Resins Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

6	Fixed assets investments

	Other investments £	Total £
Cost or valuation
At 1 April 2024	763	763
Additions	647	647
At 31 March 2025	1,410	1,410
Net book value
At 31 March 2025	1,410	1,410
At 31 March 2024	763	763

7

Debtors

	2025 £	2024 £
Trade debtors	394,180	696,382
Prepayments	10,229	10,981
Other debtors	105,581	92,249
	509,990	799,612

8

Creditors

Due within one year	2025 £	2024 £
Trade creditors	201,025	386,093
Taxation and social security	43,798	123,928
Accruals and deferred income	18,049	18,487
Other creditors	10,968	35,553
	273,840	564,061

 

Global Resins Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

9	Financial commitments, guarantees and contingencies

Pension commitments

Included in the balance sheet are pensions of £2,757 (2024 - £2,501). The company participates in a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

Off balance sheet commitments

At the year end the company had future minimum lease payments due under non-cancellable operating leases totalling £142,931 (2024 - £NIL).

10	Related party transactions

Loans to related parties

2025	Key management £	Total £
At start of period	70,349	70,349
At end of period	70,349	70,349

2024	Key management £	Total £
At start of period	70,349	70,349
At end of period	70,349	70,349

Terms of loans to related parties

Loans to key management are interest free and repayable on demand.