Jason Plastics Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 1062457

Jason Plastics Limited

Filleted Unaudited Financial Statements

31 March 2025

Jason Plastics Limited

Financial Statements

Year ended 31 March 2025

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

Jason Plastics Limited

Statement of Financial Position

31 March 2025

	2025		2024
Note	£	£	£	£

Fixed assets

Tangible assets	5		3,084,334		2,893,251

Current assets

Stocks		187,168	122,917
Debtors	6	1,114,684	623,981
Cash at bank and in hand		4,257,524	4,710,709
		------------	------------
		5,559,376	5,457,607

Creditors: amounts falling due within one year	7	1,743,356		1,796,839
		------------		------------
Net current assets			3,816,020		3,660,768
			------------		------------
Total assets less current liabilities			6,900,354		6,554,019

Provisions

Taxation including deferred tax	–	423
	------------	------------
Net assets	6,900,354	6,553,596
	------------	------------

Capital and reserves

Called up share capital	88	88
Capital redemption reserve	43	43
Profit and loss account	6,900,223	6,553,465
	------------	------------
Shareholders funds	6,900,354	6,553,596
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the 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 financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Jason Plastics Limited

Statement of Financial Position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 30 December 2025 , and are signed on behalf of the board by:

B. Walshaw

Director

Company registration number: 1062457

Jason Plastics Limited

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Prettywood, Bury New Road, Heap Bridge, Bury, BL9 7HZ.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities. The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Revenue recognition, which is stated net of vat, depends on the type of revenue concerned. Interest income and expense is recognised on an accruals basis. Turnover represents total invoice value, excluding VAT, of sales invoices raised during the year.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. 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. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant & Machinery	-	Over 15 years straight line
Motor Vehicles	-	25% straight line
Fixtures & Fittings	-	20% straight line

Freehold Property is not depreciated. The asset is maintained and refurbished regularly, maintaining its residual value.

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacture or completion.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 25 (2024: 25 ).

5. Tangible assets

	Freehold land and buildings	Plant and machinery	Motor vehicles	Fixtures and fittings	Total
	£	£	£	£	£
Cost or valuation
At 1 April 2024	3,030,299	726,682	150,241	381,726	4,288,948
Additions	–	–	48,442	–	48,442
Disposals	–	–	( 16,250)	–	( 16,250)
Revaluations	186,300	–	–	–	186,300
	------------	---------	---------	---------	------------
At 31 March 2025	3,216,599	726,682	182,433	381,726	4,507,440
	------------	---------	---------	---------	------------
Depreciation
At 1 April 2024	247,244	663,997	102,730	381,726	1,395,697
Charge for the year	–	48,444	21,352	–	69,796
Disposals	–	–	( 16,250)	–	( 16,250)
Revaluations	( 26,137)	–	–	–	( 26,137)
	------------	---------	---------	---------	------------
At 31 March 2025	221,107	712,441	107,832	381,726	1,423,106
	------------	---------	---------	---------	------------
Carrying amount
At 31 March 2025	2,995,492	14,241	74,601	–	3,084,334
	------------	---------	---------	---------	------------
At 31 March 2024	2,783,055	62,685	47,511	–	2,893,251
	------------	---------	---------	---------	------------

Included within the above is investment property as follows:

	£
At 1 April 2024	–
Fair value adjustments	212,437
Transfers from tangible assets	2,587,563
	------------
At 31 March 2025	2,800,000
	------------

During the financial year the company's investment property was valued based on open market conditions by professional independent registered valuers and the fair value increase is recognised in the statement on comprehensive income in this year.

Tangible assets held at valuation

In respect of tangible assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:

	Freehold property
	£
At 31 March 2025
Aggregate cost	3,030,299
Aggregate depreciation	(247,244)
	------------
Carrying value	2,783,055
	------------

At 31 March 2024
Aggregate cost	–
Aggregate depreciation	–
	----
Carrying value	–
	----

6. Debtors

	2025	2024
	£	£
Trade debtors	409,458	397,740
Other debtors	705,226	226,241
	------------	---------
	1,114,684	623,981
	------------	---------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	1,158,659	1,097,390
Social security and other taxes	162,728	161,537
Other creditors	421,969	537,912
	------------	------------
	1,743,356	1,796,839
	------------	------------

8. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2025
	Balance brought forward	Amounts repaid	Balance outstanding
	£	£	£
B. Walshaw	–	–	–
	----	----	----

	2024
	Balance brought forward	Amounts repaid	Balance outstanding
	£	£	£
B. Walshaw	44,824	( 44,824)	–
	--------	--------	----

The directors loan account was repaid in full on 22 December 2023.

9. Related party transactions

The company was under the control of Mr B. Walshaw throughout the current and previous year.