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Registered number:
FOR THE YEAR ENDED 31 DECEMBER 2025
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OADBY PLASTICS HOLDINGS LIMITED
COMPANY INFORMATION
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OADBY PLASTICS HOLDINGS LIMITED
CONTENTS
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OADBY PLASTICS HOLDINGS LIMITED
GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The Group is principally engaged in the machining and distribution of plastics and conveyor components.
In the opinion of the directors the Group will continue operating within this sector for the foreseeable future, supported by its established customer base, technical expertise, and ongoing investment in capabilities.
The management of the business and execution of the Group’s strategy are subject to a range of risks. These risks are formally reviewed by the Board on a regular basis, and appropriate processes are implemented to monitor and mitigate potential impacts.
While individual risks are managed carefully, the occurrence of multiple adverse events could have a compounded effect on the Group’s performance, financial position, and future prospects. The Group therefore maintains a proactive approach to risk management, ensuring resilience and adaptability in a changing market environment.
The year ended 2025 has been a challenging period for the Group. Performance was impacted by a combination of increased operating costs and a reduction in turnover, driven primarily by pricing pressures in the market. Despite this, sales volumes by tonnage have remained stable, reflecting continued demand for the Group’s products and the strength of its customer relationships.
In response to these challenges, the Group has maintained a disciplined approach to cost control while continuing to invest strategically in its operations to support long-term growth and efficiency gains. A key development during the year was the acquisition of a new site in Northampton, intended to support the expansion of A.B.G Rubber & Plastics Limited. Progress on this project has been delayed due to planning-related issues; however, these matters have now been resolved. The Group expects planning approval to be granted imminently, with completion of the site anticipated in Q4 2026. This facility is expected to enhance operational capacity, improve logistics, and provide a strong platform for future growth. In addition, the Group has continued to invest in advanced manufacturing capabilities. During the year, two robotic arms were acquired and implemented across Oadby Plastics and A.B.G Rubber & Plastics Limited. These investments are already delivering benefits through improved efficiency, increased productivity, and reduced lead times. They also strengthen the Group’s competitive position by enabling higher levels of precision, consistency, and scalability in production. The Group remains committed to the ongoing development of its product range, including the introduction of new lines aimed at retaining existing customers and attracting new business. This, combined with continued investment in infrastructure and technology, positions the Group well to navigate current market pressures and capitalise on future opportunities. Looking ahead, while cost pressures and competitive pricing are expected to remain key challenges, the directors are confident that the Group’s strategic investments, operational improvements, and strong market position will support continued resilience and sustainable growth.
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OADBY PLASTICS HOLDINGS LIMITED
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
The Group monitors its performance using the following key financial indicators;
- Turnover;
- Gross profit margin; and
- Profit on ordinary activities before taxation.
Details of these key performance indicators are set out in the Consolidated Profit and Loss Account.
Overall, the Group’s key performance indicators reflect a resilient performance during a challenging trading environment. Although turnover and profitability decreased during the year, the Group continued to generate strong cash flows and maintain a solid balance sheet position. The directors remain focused on operational efficiency, strategic investment and sustainable long-term growth.
Directors' statement of compliance with duty to promote the success of the Group.
Section S172(1) Statement
During the year, the directors have had regard to the matters set out in S172 (1) (a) to (f) of the Companies Act 2006 whilst performing their duties. Whilst making decisions the directors ensure that they have acted in good faith, in a way they believe would promote the success of the Group for the benefit of its members as a whole.
Specifically, the directors have considered the following:-
a.The likely consequences of any decision in the long term;
b.The interests of the Group's employees;
c.The need to foster the Group's business relationships with suppliers, customers and others;
d.The impact of the Group's operations on the community and the environment;
e.The desirability of the Group maintaining a reputation for high standards of business conduct; and
f.The need to act fairly between members of the Group.
S172 (1) (a) The likely consequences of any decision in the long term
The directors understand the business and the environment in which it operates. This is key to understanding the likely consequences of any long term decisions. There is a clear plan for growth which ensures the Group continue to sell quality products, satisfying customer and shareholder needs, amongst other stakeholders. Continually improving environmental performance and operating methods are integral and fundamental parts of the business strategy. This strategy is key to ensuring the Group and the directors are delivering on their duty of care for the benefit of future generations.
Investment in both our people and equipment has remained a key priority throughout the year, reflecting our ongoing commitment to operational excellence and long-term growth. As a result of additional efficiencies achieved at our Head Office, the planned development of our 3.2-acre site has been temporarily placed on hold. This strategic pause allows us to optimise resource allocation, with development set to resume when the need for an additional unit arises.
S172 (1) (b) The interests of the Group's employees
The directors recognise that the employees are key to the business and its success. What makes the Group different is their approach to relationships, which extends past the expected customer focus, to all employees. Staff retention is a testament to this and the Group's culture. Employee welfare and wellbeing is of utmost importance. The directors ensure all employees work in a safe and healthy environment. The directors regularly engage with employees through The Cultural Society. The Cultural Society is a group of employees that meet on a regular basis to discuss ideas that have been put forward to the Group and is open to all employees. These ideas are then put forward to the management board for approval and implementation. When making decisions, the directors consider which course of action best delivers the Group strategy in the long term, taking into
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OADBY PLASTICS HOLDINGS LIMITED
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
consideration all stakeholders of the Group, including the employees.
Further investments are continuing to enhance and improve the quality of the environment our staff work within.
S172 (1) (c) The need to foster the Group's business relationships with suppliers, customers and others
The directors recognise that building relationships with suppliers and customers is also key to the success of the business. The Group's objective is to become a key partner, delivering the same quality product each time. This can only be achieved if relationships are being built with key suppliers. The directors recognise that working with suppliers and customers is also key to ensuring the impact to the environment is minimised.
S172 (1) (d) The impact of the Group's operations on the community and the environment
The directors recognise the importance of minimising the impact of the Group's operations on the community and environment, which is why it is core to their strategy. The Group and directors wholly support and where possible exceed the requirement of current environmental legislation and codes of practice. It is the aim to minimise waste and water usage in buildings, vehicles and processes in order to conserve supplies and minimise consumption of natural resources, especially where they are non-renewable. The Group and the directors actively promote recycling both internally and amongst customers and suppliers. Environmental policies are reviewed periodically in consultation with staff and customers.
S172 (1) (e) The desirability of the Group maintaining a reputation for high standards of business conduct
The directors are committed to improving quality and reducing any environmental impact, as noted above. This ensures that the Group's reputation within the local community is maintained. It is the aim of the Group to achieve sustained profitable growth, by providing cost effective products maintaining a high level of customer satisfaction which enhances the Group’s reputation with its customers and suppliers.
S172 (1) (f) The need to act fairly between members of the Group
When making decisions, the directors consider which course of action best delivers the Group strategy in the long term, taking into consideration all stakeholders of the Group. Examples of this are noted above where the directors consider all stakeholders when deciding whether or not to purchase additional land and rebuild for the growth of the business.
Environmental matters
The Group will seek to minimise adverse impacts on the environment from its activities, whilst continuing to address health, safety and economic issues. The Group has complied with all applicable legislation and regulations.
The Companies Act 2006 (Strategic Report and Directors' Report) Regulation 2018 requires Oadby Plastics Holdings Limited and its subsidiaries to disclose annual UK energy consumption and Greenhouse Gas emissions from SECR regulated sources.
2020 is the benchmark year in which Oadby Plastics Holdings Limited and its subsidiaries has been required to report on this information. The following report is for 2025 which captures the 12 month period between 1 January 2025 and 31 December 2025. The data in this report is compiled from the following companies: Oadby Plastics Limited; Anglia Plastics Limited; Direct Plastics Limited; A.B.G Rubber & Plastics Limited; and Clenviro Ltd.
Scope 1 consumption and emissions relating to direct combustion of natural gas, and fuels utilised for transportation operations, such as company vehicle fleets.
Scope 2 consumption and emissions relating to indirect emissions such as the consumption of purchased electricity in day-to-day business operations. Scope 2 emissions have been calculated using location-based
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OADBY PLASTICS HOLDINGS LIMITED
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
methodology
Scope 3 emissions, or indirect value chain emissions, are excluded from the scope of this report.
Totals
The total consumption (kWh) figures for energy supplies reportable by Oadby Plastics Holdings Limited and its subsidiaries are as follows:
Grid-supplied electricity (Scope 2 - location based) - 1,505,494 kWh (2024 - 1,542,709 kWh)
Gas (Scope 1) - 440,200 kWh (2024 - 474,387 kWh)
Transportation (Scope 1) - 2,545,379 kWh (2024 - 2,515,796 kWh)
Total - 4,491,073 kWh (2024 - 4,532,892 kWh) Prior year restatement of Transportation (Scope 1), value converted from Litres to kWh.
The total emissions (tCO2e) figures for energy supplies reportable by Oadby Plastics Holdings Limited and its subsidiaries are as follows:
Grid-supplied electricity (Scope 2 - location based) - 267 t/CO2e (2024 - 319 t/CO2e)
Gas (Scope 1) - 89 t/CO2e (2024 - 96 t/CO2e)
Transportation (Scope 1) - 661 t/CO2e (2024 - 639 t/CO2e)
Total - 1,016 t/CO2e (2024 - 1,054 t/CO2e)
Intensity Metric
Intensity metrics based on square footage and number of full time employees have been calculated.
Square footage of business premises - 309,250 sq. ft (2024 - 309,250 sq. ft)
No. of full time employees - 274 (2024 - 271)
Results of this analysis is as follows:
t/CO2e / square foot - 0.00328 (2024 - 0.00341)
t/CO2e / full time employee - 3.668 (2024 - 3.993)
We are committed to responsible energy and environmental management, as demonstrated by our existing Environmental Management System (EMS) which is audited by a UKAS accredited body in line with our ISO14001 Certification. We will continue to practice energy efficiency throughout our organisation, wherever it is cost effective. We also endeavour to reduce our waste output and improve the sustainability of our operations altogether. We recognise that climate change is one of the most serious environmental challenges currently threatening the global community and we understand we have a role to play in reducing greenhouse gas emissions and our environmental impact.
We have already implemented the following:
2023:
∙Invested a further 269.75kW of PV capacity at our head office in Leicester;
∙Installed a central controller for the air conditioning systems at our head office to better manage our energy usage for what is a large system.;
∙Invested in cardboard shredders at our head office and our sister company Direct Plastics Limited in Sheffield;
∙Started washing our delivery vehicles at external facilities that use exclusively water collection and recycling infrastructure; and
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OADBY PLASTICS HOLDINGS LIMITED
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
∙QM trained in foundations of environmental management with NEBOSH.
2024:
∙Partnered with waste management company Envirovue for the majority of our sites across the Group who carbon offset all our waste movements and helped us achieve over 98% diversion from landfill;
∙Upgraded the water systems infrastructure at our head office to marginally reduce our demand and reduce wastage of clean water. This was completed thanks to investment by our water provider, Severn Trent Water;
∙Six of our electricity supply contracts are now zero carbon electricity with a fuel mix consisting of 90% nuclear and 10% renewables, and another contract is 100% renewable electricity;
∙Invested in a static waste compactor to reduce our waste collections and vehicle movements from 10x/month to 4x/month; and
∙Introduction of an annual scheduled cleaning plan for all our PV panels to maintain their efficiency in producing solar power.
2025:
∙Purchased a new facility for A.B.G Rubber & Plastics Limited and have specified that the new building maximises the available roof area to install a sufficient PV system. Also investigating options for a battery energy storage system (BESS) to maximise consumption of self-generated energy;
∙Invested in a new 5-axis CNC router, a CNC lathe, and a sliding head machine which are more energy-efficient than the previous old and outdated equipment;
∙Increased our waste recovery rate to over 44%, maintained our recycling rate at over 55%, and reduced our landfill rate to just 0.4%;
∙Overhauled the central heating system at our large head office to improve the efficiency of the system and ensure that energy used to produce heat is properly utilised; and
∙Upgraded all exterior lighting in the yard/car parks to LED units.
Further to these measures, we have identified the following energy efficiency and carbon reducing measures which are under consideration for implementation during 2026:
∙Continue to update lighting to LEDs and add light sensors across the Group;
∙Continue to improve our delivery route planning to reduce the number of miles per drop and focus on the most fuel-efficient routes;
∙Invest in a BESS for our Leicester head office to increase the consumption of self-generated energy. The system currently ramps down when the grid is at capacity;
∙Upgrade the two remaining non-half-hourly meters at our Anglia and Warrington sites in line with MHHS so we can secure renewable energy contracts;
∙Switch 75% of all electricity contracts to renewable energy contracts;
∙Build and invest in the new A.B.G Rubber & Plastics Limited site with a full PV and BESS system;
∙Increase our sustainable products portfolio by at least 200%; and
∙Reduce the carbon footprint of our plastic packaging waste by having suppliers use less material, and by investing in a baler to help create a new recycling waste stream and reduce vehicle movements.
Methodology used in the calculation of disclosures
Emissions have been calculated in accordance with the Greenhouse Gas Protocol Corporate Accounting and Reporting Standard, using the UK Government GHG Conversion Factors for Company Reporting 2025.
UK Government GHG Conversion Factors for Company Reporting Conversion factors were obtained from Department for Business, Energy & Industrial Strategy:
https://www.gov.uk/government /publications /greenhouse-gas-reporting -conversion -factors-2025
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OADBY PLASTICS HOLDINGS LIMITED
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Electricity and gas annual usage were calculated from supplier invoices and reports. Diesel consumption was calculated from fuel card transactions and receipts from all company vehicles.
This report was approved by the board and signed on its behalf.
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OADBY PLASTICS HOLDINGS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The directors present their report and the financial statements for the year ended 31 December 2025.
The profit for the year, after taxation, amounted to £2,607,159 (2024 - £3,105,188).
During the year dividends amounting to £2,447,130 (2024 - £2,271,572) were recommended by the directors.
The directors who served during the year were:
How we engage with our employees is covered in the Strategic Report on page 2.
How we engage with customers and suppliers is covered in our Strategic Report on page 3.
The Group's greenhouse gas emissions and energy consumption for the year are covered in our strategic Report on pages 3, 4 and 5.
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OADBY PLASTICS HOLDINGS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
On 2 April 2026 the Company purchased and cancelled 140,235 D ordinary shares for consideration of £8,100,000 as part of a share buyback transaction.
On 7 April 2026, the Group entered into an unsecured related party loan agreement for £3,000,000 to support the Group’s ongoing working capital and financing requirements. The loan bears interest at 5% per annum and is repayable within three years. On 6 May 2026, D-PAC Limited, a wholly owned subsidiary incorporated in England and Wales, was dissolved and removed from the register at Companies House. There have been no other significant events affecting the Group since the year end
The auditor, MHA, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
The directors are responsible for preparing the Group Strategic Report, the Directors' Report and the consolidated financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Group's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group 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 the Group and to 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 the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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OADBY PLASTICS HOLDINGS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
This report was approved by the board and signed on its behalf.
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OADBY PLASTICS HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF OADBY PLASTICS HOLDINGS LIMITED
I have audited the financial statements of Oadby Plastics Holdings Limited (the 'Parent Company') and its subsidiaries (the 'Group') for the year ended 31 December 2025, which comprise the Consolidated Profit and Loss Account, the Consolidated Analysis of Net Debt, the Consolidated Balance Sheet, the Company Balance Sheet, the Consolidated Statement of Cash Flows, the Consolidated Statement of Changes in Equity, the Company Statement of Changes in Equity and the related notes, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In auditing the financial statements, I 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 I have performed, I have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the Parent 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.
My responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
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OADBY PLASTICS HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF OADBY PLASTICS HOLDINGS LIMITED (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and my Auditor's Report thereon. The directors are responsible for the other information contained within the Annual Report. My opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, I do not express any form of assurance conclusion thereon. My responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or my knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If I identify such material inconsistencies or apparent material misstatements, I am required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work I have performed, I conclude that there is a material misstatement of this other information, I am required to report that fact.
I have nothing to report in this regard.
In my opinion, based on the work undertaken in the course of the audit:
∙the information given in the Group 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 Group Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Group and the Parent Company and its environment obtained in the course of the audit, I have not identified material misstatements in the Group Strategic Report or the Directors' Report.
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OADBY PLASTICS HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF OADBY PLASTICS HOLDINGS LIMITED (CONTINUED)
My 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 my 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 Group financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. I design procedures in line with my responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which my procedures are capable of detecting irregularities, including fraud is detailed below:
∙Enquiry of management and those charged with governance around actual, potential or suspected litigation and claims, non-compliance with applicable laws and regulations and fraud;
∙Enquiry of entity staff in tax and compliance functions to identify any instances of non-compliance with laws and regulations;
∙Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias;
∙Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations; and
∙Discussions with engagement team in relation to how and where fraud might occur in the financial statements and any potential indicators of fraud.
Because of the inherent limitations of an audit, there is a risk that I will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as I will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of my responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of my Auditor's Report.
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OADBY PLASTICS HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF OADBY PLASTICS HOLDINGS LIMITED (CONTINUED)
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. My audit work has been undertaken so that I might state to the Company's members those matters I am required to state to them in an Auditor's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for my audit work, for this report, or for the opinions I have formed.
for and on behalf of
Statutory Auditors
Leicester, United Kingdom
Date: 15 May 2026
MHA is the trading name of MHA Audit Services LLP, a limited liability partnership in England and Wales (registered number OC455542).15 May 2026
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OADBY PLASTICS HOLDINGS LIMITED
CONSOLIDATED PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2025
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OADBY PLASTICS HOLDINGS LIMITED
REGISTERED NUMBER: 10977787
CONSOLIDATED BALANCE SHEET
AS AT 31 DECEMBER 2025
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OADBY PLASTICS HOLDINGS LIMITED
REGISTERED NUMBER: 10977787
CONSOLIDATED BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 23 to 53 form part of these financial statements.
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OADBY PLASTICS HOLDINGS LIMITED
REGISTERED NUMBER: 10977787
COMPANY BALANCE SHEET
AS AT 31 DECEMBER 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 23 to 53 form part of these financial statements.
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OADBY PLASTICS HOLDINGS LIMITED
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
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OADBY PLASTICS HOLDINGS LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 19
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OADBY PLASTICS HOLDINGS LIMITED
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 20
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OADBY PLASTICS HOLDINGS LIMITED
CONSOLIDATED STATEMENT OF CASH FLOWS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 21
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OADBY PLASTICS HOLDINGS LIMITED
CONSOLIDATED ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 22
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OADBY PLASTICS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Oadby Plastics Holdings Limited is a private company, limited by shares, domiciled in England and Wales, registration number 10977787. The registered office is 68 Scudamore Road, Braunstone Frith Industrial Estate, Leicester, LE3 1UA.
The principal activity of the Company during the period was that of a holding and property company.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgment in applying the Group's accounting policies (see note 3).
The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Comprehensive Income in these financial statements.
The following principal accounting policies have been applied:
The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using merger accounting in respect of group re-organisations and acquisition accounting in respect of acquisitions from third parties. Under acquisition accounting, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated Profit and Loss Account from the date on which control is obtained. They are deconsolidated from the date control ceases. Where merger accounting is used, the acquiree's identifiable assets, liabilities, contingent liabilities and reserves are initially recognised at the book value showing in the merged business within the Consolidated Balance Sheet with any difference between the investment value in the parent and share capital value of the merged business being recognised in a merger reserve on the date of acquisition. In respect of the Consolidated Profit and Loss Account, the trade of the entities subject to merger accounting is treated as if it had been part of the Group for the entire accounting period.
Page 23
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OADBY PLASTICS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
After reviewing the Group's forecasts and projections, the directors have a reasonable expectation that the Group has adequate resources to continue in operational existence for the foreseeable future. The Group therefore continues to adopt the going concern basis in preparing its financial information. Post year end, the Group has continued to trade profitably and has maintained a strong cash position. The directors have reviewed cash flow forecasts and available facilities and are satisfied that the Group will continue to meet its liabilities as they fall due for a period of at least 12 months from the date of approval of these financial statements.The strong Balance Sheet held at the year end would enable the Group to access borrowing should they require it and they have an agreed overdraft in place to support their short term financing needs if required. The directors and loan note holders have confirmed that neither the directors loan accounts or loan notes will be drawn on for the next 12 months, or until the Group is in a position to support this withdrawal of funds. Coupled with the continued profitability, cash balances and finance available, the Group has the ability to continue as a going concern for the next 12 months.
Page 24
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OADBY PLASTICS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
At each reporting date the Group assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.
The Group adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the Group. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to the Consolidated Profit and Loss Account during the period in which they are incurred.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method or reducing balance basis.
Depreciation is charged for a full year in year of addition and no depreciation in year of disposal.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Consolidated Profit and Loss Account.
Page 25
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OADBY PLASTICS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Page 26
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OADBY PLASTICS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
The Group has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
The Group has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.
Financial instruments are recognised in the Group's Balance Sheet when the Group becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through the Consolidated Profit and Loss Account) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Discounting is omitted where the effect of discounting is immaterial. The Group's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
Other financial assets
Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the Consolidated Profit and Loss Account. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.
Impairment of financial assets
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Consolidated Profit and Loss Account.
Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.
If there is a favourable change in relation to the events surrounding the impairment loss then the
Page 27
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|
OADBY PLASTICS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the Consolidated Profit and Loss Account.
Basic financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Group after the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, bank loans, other loans and loans due to fellow group companies are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through the Consolidated Profit and Loss Account). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
Other financial instruments
Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the Consolidated Profit and Loss Account. They are subsequently measured at fair value with changes in the profit or loss.
Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the Consolidated Profit and Loss Account. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.
Derecognition of financial instruments
Derecognition of financial assets
Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Group transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Group will continue to recognise the value of the portion of the risks and rewards retained.
Page 28
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OADBY PLASTICS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Derecognition of financial liabilities
Financial liabilities are derecognised when the Group's contractual obligations expire or are discharged or cancelled.
The Company's functional and presentational currency is British Pound Sterling (£). Transactions and balances Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transactions and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. Foreign exchange gains and losses resulting from the settlement of transactions and from the transactions at the period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Consolidated Profit and Loss Account except when deferred in other comprehensive income as qualifying cash flow hedges. Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Consolidated Profit and Loss Account within 'finance income or costs'. All other foreign exchange gains and losses are presented in the Consolidated Profit and Loss Account within 'other operating income'.
Page 29
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OADBY PLASTICS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
The Group provides a range of benefits to employees, including annual bonus arrangements, paid holiday arrangements and defined contribution pension plans.
(i) Short term benefits Short term benefits, including holiday pay and other similar non-monetary benefits, are recognised as an expense in the period in which the service is received. (ii) Defined contribution pension plans The Group operates a number of defined contribution plans for its employees. A defined contribution plan is a pension plan under which the Company pays a fixed contribution into a separate entity. Once the contributions have been paid the Group has no further payment obligations. The contributions are recognised as an expense when they are due. Amounts not paid are shown in accruals in the Consolidated Balance Sheet. The assets of the plan are held separately from the Group in independently administered funds. (iii) Annual bonus plan The Group operates a number of annual bonus plans for employees. An expense is recognised in the Consolidated Profit and Loss Account when the Group has a legal or constructive obligation to make payments under the plans as a result of past events and a reliable estimate of the obligation can be made.
Page 30
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OADBY PLASTICS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
Page 31
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OADBY PLASTICS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Goodwill
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of the Group's share of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the Consolidated Profit and Loss Account over its useful economic life of 10 years. Other intangible assets Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Page 32
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OADBY PLASTICS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
The Group makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below. (i) Useful economic lives of intangible fixed assets The directors consider that the useful economic life of the goodwill included within these financial statements cannot be reliably measured. As a result, the directors have adopted the maximum useful economic life allowed under FRS 102. (ii) Useful economic lives of tangible fixed assets The annual depreciation charge for tangible fixed assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are reassessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. (iii) Stocks provisioning When calculating the stocks provision, management considers the nature and condition of the stocks, as well as applying assumptions around anticipated saleability of finished goods and future usage of raw materials. (iv) Impairment of debtors The Group makes an estimate on the recoverability of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the age profile of the debtors and historical experience.
Analysis of turnover by country of destination:
Page 33
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OADBY PLASTICS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 34
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OADBY PLASTICS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 35
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OADBY PLASTICS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 36
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OADBY PLASTICS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
12.Taxation (continued)
There were no factors that may affect future tax charges.
Page 37
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OADBY PLASTICS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Profit and Loss Account in these financial statements. The profit after tax of the parent Company for the year was £2,247,493 (2024 - £2,071,935).
Page 38
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OADBY PLASTICS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 39
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OADBY PLASTICS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
16.Tangible fixed assets (continued)
Page 40
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OADBY PLASTICS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
16.Tangible fixed assets (continued)
Page 41
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OADBY PLASTICS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 42
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OADBY PLASTICS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 43
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OADBY PLASTICS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 44
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OADBY PLASTICS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 45
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OADBY PLASTICS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Net obligations under hire purchase contracts of £309,314 (2024 - £495,140) are secured against assets owned by the Group.
Page 46
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OADBY PLASTICS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 47
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OADBY PLASTICS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 48
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OADBY PLASTICS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Share premium account
Profit and loss account
Page 49
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OADBY PLASTICS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
The acquisition was undertaken to secure the Northampton site and support the planned expansion of A.B.G Rubber & Plastics Limited.
Page 50
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OADBY PLASTICS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
29.Business combinations (continued)
The Group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Group in an independently administered fund. The pension cost charge represents contributions payable by the Group to the fund and amounted to £688,660 (2024 - £375,482). Contributions totally £Nil (2024 - £Nil) were payable to the funds at the reporting date.
Page 51
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OADBY PLASTICS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
At the year end N J Driver, a director of the Group, was owed by the Group £682,132 (2024 - £865,812) included within other creditors. During the year payments totalled £Nil (2024 - £Nil) and repayments totalled £272,474 (2024 - £89,038). Interest of £88,794 (2024 - £89,038) was charged on the amounts owed by the Group.
At the year end M A Rojahn, a director of the Group, was owed by the Group £839,353 (2024 - £839,353) included within other creditors. During the year payments totalled £Nil (2024 - £Nil) and repayments totalled £84,556 (2024 - £84,788). Interest of £84,556 (2024 - £84,788) was charged on the amounts owed by the Group. At the year end J Chouhan, a director of the Group, was owed by the Group £707,562 (2024 - £707,562) included within other creditors. During the year payments totalled £Nil (2024 - £Nil) and repayments totalled £65,865 (2024 - £66,045). Interest of £65,865 (2024 - £66,045) was charged on the amounts owed by the Group. The directors charged interest at 8.5% (2024: 8.5%) on loans issued to the Group that are repayable on demand.
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OADBY PLASTICS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
On 7 April 2026, the Group entered into an unsecured related party loan agreement for £3,000,000 to support the Group’s ongoing working capital and financing requirements. The loan bears interest at 5% per annum and is repayable within three years. On 6 May 2026, D-PAC Limited, a wholly owned subsidiary incorporated in England and Wales, was dissolved and removed from the register at Companies House.
The ultimate controlling party was
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