Wrights Plastics Limited Company accounts

COMPANY REGISTRATION NUMBER: 02108847

Wrights Plastics Limited

Financial Statements

30 April 2025

Wrights Plastics Limited

Financial Statements

Year ended 30 April 2025

Contents	Pages

Officers and professional advisers	1

Strategic report	2 to 3

Directors' report	4 to 5

Independent auditor's report to the members	6 to 9

Statement of comprehensive income	10

Statement of financial position	11

Statement of changes in equity	12

Statement of cash flows	13

Notes to the financial statements	14 to 25

Wrights Plastics Limited

Officers and Professional Advisers

The board of directors	M Wright
	N Wright

Company secretary	M J Wright

Registered office	Brandon Way
	West Bromwich
	West Midlands
	United Kingdom
	B70 8JH

Auditor	BSN Associates Limited
	Chartered accountants & statutory auditor
	3B Swallowfield Courtyard
	Wolverhampton Road
	Oldbury
	West Midlands
	B69 2JG

Wrights Plastics Limited

Strategic Report

Year ended 30 April 2025

Introduction The Directors present the Company strategic report for the year ended 30 April 2025. The principal activity of the Company continued to be the manufacturing of point of purchase display equipment and industrial solutions from sheet plastic materials. Business review The results for the year show a profit of £1,020,086 compared to a loss in the prior year of £2,475,481, due to a loan relationship write off. The directors are pleased with the improvement in the trading position for the year which was in line with expectations. Challenging conditions continue to prevail supplying into the retail sector and after a strategic review the Company is further targeting the industrial sector. Attention in the short to medium term has been on ensuring the safety and well-being of our employees, securing the materials necessary to meet demand and managing cashflow and working capital in general, with the Directors of the opinion that the Company can continue to operate within its current and future financial parameters and so continue to meet its debts as they fall due. The on-going aim of the Directors is to maintain Wrights Plastics Limited 's highly regarded reputation for service, quality and industry expertise. Principal risks and uncertainties The business' principal financial instruments comprise bank balances, trade debtors and trade creditors. The main purpose of these instruments is to finance the business' operations. Liquidity risk All of the business' cash balances are held in such a way that achieves a competitive rate of interest. The business makes use of money market facilities where funds are available. Trade debtors are managed in respect of credit and cash flow risk by policies concerning the credit offered to customers and regular monitoring of amounts outstanding for both time and credit limits. The amounts presented in the balance sheet are net of allowances for doubtful debtors. Trade creditors' liquidity risk is managed by ensuring sufficient funds are available to meet amounts due. Financial key performance indicators The financial key performance indicators for the Company are turnover and profitability. The Directors are pleased with the performance of the Company in this regard.

This report was approved by the board of directors on 28 November 2025 and signed on behalf of the board by:

M Wright

Director

Registered office:

Brandon Way

West Bromwich

West Midlands

United Kingdom

B70 8JH

Wrights Plastics Limited

Directors' Report

Year ended 30 April 2025

The directors present their report and the financial statements of the company for the year ended 30 April 2025 .

Directors

The directors who served the company during the year were as follows:

M Wright
N Wright

Dividends

Particulars of recommended dividends are detailed in note 12 to the financial statements.

Future developments

The future developments of the company are detailed within the strategic report.

Disclosure of information in the strategic report

The following disclosures as required by S414C(ii) have been elevated to the strategic report. - Principal risks and uncertainties; - Financial key performance indicators.

Directors' responsibilities statement

The directors are responsible for preparing the strategic report, directors' report and the financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: - select suitable accounting policies and then apply them consistently; - make judgments and accounting estimates that are reasonable and prudent; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Auditor

Each of the persons who is a director at the date of approval of this report confirms that:

- so far as they are aware, there is no relevant audit information of which the company's auditor is unaware; and - they have taken all steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information.

This report was approved by the board of directors on 28 November 2025 and signed on behalf of the board by:

M Wright

Director

Registered office:

Brandon Way

West Bromwich

West Midlands

United Kingdom

B70 8JH

Wrights Plastics Limited

Independent Auditor's Report to the Members of Wrights Plastics Limited

Year ended 30 April 2025

Opinion

We have audited the financial statements of Wrights Plastics Limited (the 'company') for the year ended 30 April 2025 which comprise the statement of comprehensive income, statement of financial position, statement of changes in equity, statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: - give a true and fair view of the state of the company's affairs as at 30 April 2025 and of its profit for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; - have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

- the information given in the strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: - adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or - the financial statements are not in agreement with the accounting records and returns; or - certain disclosures of directors' remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: We have reviewed financial statement disclosures and tested these to supporting documentation to assess compliance with applicable laws and regulations. We have audited the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business. We have also made enquiries of entity staff in tax and compliance functions to identify any instances of non-compliance with laws and regulations. As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also: - Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. - Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control. - Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors. - Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the company to cease to continue as a going concern. - Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. Use of our report

This report is made solely to the company's members, as a body, in accordance with chapter 3 of part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Hannah Justice FCA FCCA

(Senior Statutory Auditor)

For and on behalf of

BSN Associates Limited

Chartered accountants & statutory auditor

3B Swallowfield Courtyard

Wolverhampton Road

Oldbury

West Midlands

B69 2JG

28 November 2025

Wrights Plastics Limited

Statement of Comprehensive Income

Year ended 30 April 2025

		2025	2024
Note		£	£
Turnover	4	8,205,962	5,231,831

Cost of sales	4,846,825	3,133,026
	------------	------------
Gross profit	3,359,137	2,098,805

Administrative expenses		2,254,878	2,112,938
		------------	------------
Operating profit/(loss)	5	1,104,259	( 14,133)

Other interest receivable and similar income	9	45,595	33,475
Loan relationship write off		–	2,539,433
Interest payable and similar expenses	10	2,016	–
		------------	------------
Profit/(loss) before taxation		1,147,838	( 2,520,091)

Tax on profit/(loss)	11	127,752	( 44,610)
		------------	------------
Profit/(loss) for the financial year		1,020,086	( 2,475,481)
		------------	------------

Revaluation of tangible assets	–	1,028,928
Tax relating to components of other comprehensive income	–	( 99,835)
	----	------------
Other comprehensive income for the year	–	929,093
	------------	------------
Total comprehensive income for the year	1,020,086	( 1,546,388)
	------------	------------

All the activities of the company are from continuing operations.

Wrights Plastics Limited

Statement of Financial Position

30 April 2025

	2025	2024
Note	£	£

Fixed assets

Intangible assets	13	13,988	10,937
Tangible assets	14	639,473	653,703
		---------	---------
		653,461	664,640

Current assets

Stocks	16	875,003	939,576
Debtors	17	1,269,865	1,111,752
Cash at bank and in hand		3,618,372	2,706,081
		------------	------------
		5,763,240	4,757,409

Creditors: amounts falling due within one year	18	1,557,550	1,592,280
		------------	------------
Net current assets		4,205,690	3,165,129
		------------	------------
Total assets less current liabilities		4,859,151	3,829,769

Provisions	19	123,686	114,390
		------------	------------
Net assets		4,735,465	3,715,379
		------------	------------

Capital and reserves

Called up share capital	23	8,000	8,000
Capital redemption reserve	24	2,000	2,000
Profit and loss account	24	4,725,465	3,705,379
		------------	------------
Shareholders funds		4,735,465	3,715,379
		------------	------------

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the medium companies regime.

These financial statements were approved by the board of directors and authorised for issue on 28 November 2025 , and are signed on behalf of the board by:

M Wright

Director

Company registration number: 02108847

Wrights Plastics Limited

Statement of Changes in Equity

Year ended 30 April 2025

			Called up share capital	Revaluation reserve	Capital redemption reserve	Profit and loss account	Total
Note			£	£	£	£	£
At 1 May 2023			8,000	–	2,000	7,559,020	7,569,020

Loss for the year						( 2,475,481)	( 2,475,481)
Other comprehensive income for the year:
	Revaluation of tangible assets	14	–	1,028,928	–	–	1,028,928
	Reclassification from revaluation reserve to profit and loss account		–	( 929,093)	–	929,093	–
	Tax relating to components of other comprehensive income	11	–	( 99,835)	–	–	( 99,835)
			-------	------------	-------	------------	------------
Total comprehensive income for the year			–	–	–	( 1,546,388)	( 1,546,388)

Dividends paid and payable		12	–	–	–	( 2,307,253)	( 2,307,253)
			-------	------------	-------	------------	------------
Total investments by and distributions to owners			–	–	–	( 2,307,253)	( 2,307,253)

At 30 April 2024			8,000	–	2,000	3,705,379	3,715,379

Profit for the year						1,020,086	1,020,086
			-------	------------	-------	------------	------------
Total comprehensive income for the year			–	–	–	1,020,086	1,020,086

			-------	------------	-------	------------	------------
At 30 April 2025			8,000	–	2,000	4,725,465	4,735,465
			-------	------------	-------	------------	------------

Wrights Plastics Limited

Statement of Cash Flows

Year ended 30 April 2025

	2025	2024
	£	£

Cash flows from operating activities

Profit/(loss) for the financial year	1,020,086	( 2,475,481)

Adjustments for:
Depreciation of tangible assets	147,513	169,978
Amortisation of intangible assets	2,263	1,599
Impairment of loans	–	2,539,433
Loss on financial assets at fair value through profit or loss	–	125
Other interest receivable and similar income	( 45,595)	( 33,475)
Interest payable and similar expenses	2,016	–
Loss/(gains) on disposal of tangible assets	396	( 19,182)
Tax on profit/(loss)	127,752	( 44,610)

Changes in:
Stocks	64,573	( 88,896)
Trade and other debtors	( 188,659)	( 487,541)
Trade and other creditors	( 122,640)	339,235
	------------	------------
Cash generated from operations	1,007,705	( 98,815)

Interest paid	( 2,016)	–
Interest received	45,595	33,475
	------------	--------
Net cash from/(used in) operating activities	1,051,284	( 65,340)
	------------	--------

Cash flows from investing activities

Purchase of tangible assets	( 178,618)	( 111,686)
Proceeds from sale of tangible assets	44,939	59,600
Purchase of intangible assets	( 5,314)	( 628)
	------------	---------
Net cash used in investing activities	( 138,993)	( 52,714)
	------------	---------

Cash flows from financing activities

Proceeds from loans from group undertakings	–	44,399
Dividends paid	–	( 729,584)
	------------	---------
Net cash used in financing activities	–	( 685,185)
	------------	---------

Net increase/(decrease) in cash and cash equivalents	912,291	( 803,239)
Cash and cash equivalents at beginning of year	2,706,081	3,509,320
	------------	------------
Cash and cash equivalents at end of year	3,618,372	2,706,081
	------------	------------

Wrights Plastics Limited

Notes to the Financial Statements

Year ended 30 April 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 Brandon Way, West Bromwich, West Midlands, B70 8JH, United Kingdom.

2. Statement of compliance

These financial statements have been prepared in compliance with 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 and investment properties measured at fair value through profit or loss.

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

Judgements and key sources of estimation uncertainty

In application of the Company's accounting policies, which are described in note 2, the directors are required to make judgements, estimates and assumptions that affect the carrying amounts of assets and liabilities that are not readily apparent from 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 accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of revision and future periods if the revision affects both current and future periods.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.

Income tax

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.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

Goodwill	-	7 years
Patents, trademarks and licences	-	8 years

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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:

Freehold property	-	2% and 10% straight line
Plant and machinery	-	15% on reducing balance and 15% straight line
Fixtures and fittings	-	15% on reducing balance and 15%, 20%, and 33% straight line
Motor vehicles	-	25% on reducing balance and 20% straight line

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being 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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

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

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

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. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Turnover

Turnover arises from:

	2025	2024
	£	£
United Kingdom	7,451,549	5,115,997
Rest of Europe	748,972	104,360
Rest of the world	5,441	11,474
	------------	------------
	8,205,962	5,231,831
	------------	------------

The whole of the turnover is attributable to the principal activity of the company wholly undertaken in the United Kingdom.

5. Operating profit/(loss)

Operating profit or loss is stated after charging/crediting:

	2025	2024
	£	£
Amortisation of intangible assets	2,263	1,599
Depreciation of tangible assets	147,513	169,978
Loss/(gains) on disposal of tangible assets	396	( 19,182)
Impairment of trade debtors	8,085	184
Operating lease rentals	7,883	11,127
Foreign exchange differences	2,094	( 3,480)
	---------	---------

6. Auditor's remuneration

	2025	2024
	£	£
Fees payable for the audit of the financial statements	13,470	12,830
	--------	--------

7. Staff costs

The average number of persons employed by the company during the year, including the directors, amounted to:

	2025	2024
	No.	No.
Production staff	60	45
Administrative staff	14	14
Management staff	2	2
	----	----
	76	61
	----	----

The aggregate payroll costs incurred during the year, relating to the above, were:

	2025	2024
	£	£
Wages and salaries	2,297,269	1,834,856
Social security costs	232,932	175,747
Other pension costs	72,951	69,008
	------------	------------
	2,603,152	2,079,611
	------------	------------

8. Directors' remuneration

The directors' aggregate remuneration in respect of qualifying services was:

	2025	2024
	£	£
Remuneration	197,213	203,009
Company contributions to defined contribution pension plans	17,321	21,321
	---------	---------
	214,534	224,330
	---------	---------

The number of directors who accrued benefits under company pension plans was as follows:

	2025	2024
	No.	No.
Defined contribution plans	2	2
	----	----

Remuneration of the highest paid director in respect of qualifying services:

	2025	2024
	£	£
Aggregate remuneration	115,624	115,113
Company contributions to defined contribution pension plans	16,000	20,000
	---------	---------
	131,624	135,113
	---------	---------

9. Other interest receivable and similar income

	2025	2024
	£	£
Interest on cash and cash equivalents	45,595	33,475
	--------	--------

10. Interest payable and similar expenses

	2025	2024
	£	£
Other interest payable and similar charges	2,016	–
	-------	----

11. Tax on profit/(loss)

Major components of tax expense/(income)

	2025	2024
	£	£

Current tax:

UK current tax expense	165,406	–
Adjustments in respect of prior periods	( 46,950)	–
	---------	----
Total current tax	118,456	–
	---------	----

Deferred tax:

Origination and reversal of timing differences	9,296	( 44,610)
	---------	--------
Tax on profit/(loss)	127,752	( 44,610)
	---------	--------

Tax recognised as other comprehensive income or equity

The aggregate current and deferred tax relating to items recognised as other comprehensive income or equity for the year was £Nil

(2024: £ 99,835 ).

Reconciliation of tax expense/(income)

The tax assessed on the profit/(loss) on ordinary activities for the year is lower than (2024: higher than) the standard rate of corporation tax in the UK of 25 % (2024: 25 %).

	2025	2024
	£	£
Profit/(loss) on ordinary activities before taxation	1,147,838	( 2,520,091)
	------------	------------
Profit/(loss) on ordinary activities by rate of tax	286,960	( 630,023)
Adjustment to tax charge in respect of prior periods	(160,666)	–
Effect of expenses not deductible for tax purposes	1,458	637,430
Effect of capital allowances and depreciation	–	( 52,017)
	------------	------------
Tax on profit/(loss)	127,752	( 44,610)
	------------	------------

12. Dividends

	2025	2024
	£	£
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year )	–	2,307,253
	----	------------

13. Intangible assets

	Goodwill	Patents, trademarks and licences	Total
	£	£	£
Cost
At 1 May 2024	171,663	12,789	184,452
Additions	–	5,314	5,314
	---------	--------	---------
At 30 April 2025	171,663	18,103	189,766
	---------	--------	---------
Amortisation
At 1 May 2024	171,663	1,852	173,515
Charge for the year	–	2,263	2,263
	---------	--------	---------
At 30 April 2025	171,663	4,115	175,778
	---------	--------	---------
Carrying amount
At 30 April 2025	–	13,988	13,988
	---------	--------	---------
At 30 April 2024	–	10,937	10,937
	---------	--------	---------

14. Tangible assets

	Freehold property	Plant and machinery	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£	£
Cost
At 1 May 2024	–	2,695,485	385,662	201,237	3,282,384
Additions	5,879	67,231	5,079	100,429	178,618
Disposals	–	( 18,965)	–	( 79,556)	( 98,521)
	-------	------------	---------	---------	------------
At 30 April 2025	5,879	2,743,751	390,741	222,110	3,362,481
	-------	------------	---------	---------	------------
Depreciation
At 1 May 2024	–	2,161,587	360,803	106,291	2,628,681
Charge for the year	588	88,308	17,077	41,540	147,513
Disposals	–	( 2,845)	–	( 50,341)	( 53,186)
	-------	------------	---------	---------	------------
At 30 April 2025	588	2,247,050	377,880	97,490	2,723,008
	-------	------------	---------	---------	------------
Carrying amount
At 30 April 2025	5,291	496,701	12,861	124,620	639,473
	-------	------------	---------	---------	------------
At 30 April 2024	–	533,898	24,859	94,946	653,703
	-------	------------	---------	---------	------------

15. Investments

	Shares in group undertakings
	£
Cost
At 1 May 2024	125
Disposals	( 125)
	----
At 30 April 2025	–
	----
Impairment
At 1 May 2024	125
Disposals	( 125)
	----
At 30 April 2025	–
	----

Carrying amount
At 30 April 2025	–
	----
At 30 April 2024	–
	----

Subsidiaries, associates and other investments

Shares in group undertakings relate to the entire issued share capital of Mid West Displays Limited, a company registered in England and Wales under the Companies Act 2006. On the 17th of October 2023, Mid West Displays was dissolved following a voluntary strike off therefore the investment had been impaired to £Nil in the prior year. This has then been disposed of in the current year.

16. Stocks

	2025	2024
	£	£
Raw materials and consumables	254,528	452,175
Work in progress	214,073	173,662
Finished goods and goods for resale	406,402	313,739
	---------	---------
	875,003	939,576
	---------	---------

17. Debtors

	2025	2024
	£	£
Trade debtors	892,907	763,590
Amounts owed by group undertakings	55,601	–
Prepayments and accrued income	227,585	222,710
Directors loan account	50,125	50,125
Other debtors	43,647	75,327
	------------	------------
	1,269,865	1,111,752
	------------	------------

18. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	830,769	1,046,618
Amounts owed to group undertakings	–	44,399
Accruals and deferred income	73,786	80,649
Corporation tax	87,910	–
Social security and other taxes	271,523	150,346
Director loan accounts	100,000	100,000
Other creditors	193,562	170,268
	------------	------------
	1,557,550	1,592,280
	------------	------------

19. Provisions

	Deferred tax (note 20)
	£
At 1 May 2024	114,390
Additions	9,296
	---------
At 30 April 2025	123,686
	---------

20. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2025	2024
	£	£
Included in provisions (note 19)	123,686	114,390
	---------	---------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2025	2024
	£	£
Accelerated capital allowances	125,997	139,060
Unused tax losses	–	( 22,814)
Provisions	( 2,311)	( 1,856)
	---------	---------
	123,686	114,390
	---------	---------

21. Employee benefits

Defined contribution plans

The amount recognised in profit or loss as an expense in relation to defined contribution plans was £ 72,951 (2024: £ 69,008 ).

22. Financial instruments

Financial assets measured at cost compromise cash at bank, trade debtors, other debtors and amounts owed by group undertakings and amounted to £4,705,051 (2024: £4,194,018). Financial liabilities measured at cost compromise trade creditors, amounts owed to group undertakings and other creditors amounted to £1,340,253 (2024: £1,297,535).

23. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
A Ordinary shares shares of £ 1 each	5,400	5,400	5,400	5,400
B Ordinary shares shares of £ 1 each	1,100	1,100	1,100	1,100
C Ordinary shares shares of £ 1 each	1,000	1,000	1,000	1,000
D Ordinary shares shares of £ 1 each	500	500	500	500
	-------	-------	-------	-------
	8,000	8,000	8,000	8,000
	-------	-------	-------	-------

The A Ordinary shares, B Ordinary shares, C Ordinary shares and D Ordinary shares rank pari passu but are separate classes of shares and shall be entitled to dividends declared from time to time, at the sole and absolute discretion of the directors, on each class of shares as a separate class right.

24. Reserves

Capital redemption reserve - This reserve records the nominal value of shares repurchased by the company. Profit and loss account - This reserve records retained earnings and accumulated losses.

25. Analysis of changes in net debt

	At 1 May 2024	Cash flows	At 30 Apr 2025
	£	£	£
Cash at bank and in hand	2,706,081	912,291	3,618,372
Debt due within one year	(144,399)	44,399	(100,000)
	------------	---------	------------
	2,561,682	956,690	3,518,372
	------------	---------	------------

Wrights Plastics Limited

Notes to the Financial Statements (continued)

Year ended 30 April 2025

26. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2025	2024
	£	£
Not later than 1 year	20,417	11,556
Later than 1 year and not later than 5 years	58,519	–
	--------	--------
	78,936	11,556
	--------	--------

27. Directors' advances, credits and guarantees

The balance outstanding from a director of the company as at the balance sheet date amounted to £50,125 (2024: £50,125). The balance outstanding to a director of the company as at the balance sheet date amounted to £100,000 (2024: £100,000). Both of these loans are interest free and repayable on demand.

28. Related party transactions

During the year the company made net purchases in relation to rent and service charges of £Nil (2024: £28,446) to a related company under common control.

29. Controlling party

The immediate controlling party is Wrights Plastics Group Limited. The ultimate controlling party is M J Wright by virture of his majority shareholding in the immediate parent company.