Paul Norman Plastics Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 01722616 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

FOR

PAUL NORMAN PLASTICS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P P Norman

E J Crowley

C Wrenn

SECRETARY:

E J Crowley

REGISTERED OFFICE:

Unit S5, Inchbrook Trading Estate

Bath Road

Woodchester

Stroud

Gloucestershire

GL5 5EY

REGISTERED NUMBER:

01722616 (England and Wales)

ACCOUNTANTS:

Shiner Mitchell Fisher & Co Ltd

Smith House

George Street

Nailsworth

Stroud

Gloucestershire

GL6 0AG

FIXED ASSETS

Intangible assets

4

2,800

4,200

Tangible assets

5

231,401

277,814

234,201

282,014

CURRENT ASSETS

Stocks

121,956

99,759

Debtors

6

144,119

202,622

Cash at bank and in hand

1,448

5,800

267,523

308,181

CREDITORS

Amounts falling due within one year

7

316,037

366,440

NET CURRENT LIABILITIES

(48,514

)

(58,259

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

185,687

223,755

CREDITORS

Amounts falling due after more than one
year

8

(101,836

)

(139,468

)

PROVISIONS FOR LIABILITIES

(24,943

)

(24,975

)

NET ASSETS

58,908

59,312

CAPITAL AND RESERVES

Called up share capital

250

Retained earnings

58,658

59,062

SHAREHOLDERS' FUNDS

58,908

59,312

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 May 2026 and were signed on its behalf by:

P P Norman - Director

1.	STATUTORY INFORMATION

Paul Norman Plastics Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2023, is being amortised evenly over its estimated useful life of five years.

Intangible assets

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on reducing balance, 20% on reducing balance, 15% on reducing balance and in accordance with the property

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2024 - 26 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 September 2024

and 31 August 2025

7,000

AMORTISATION

At 1 September 2024

2,800

Charge for year

1,400

At 31 August 2025

4,200

NET BOOK VALUE

At 31 August 2025

2,800

At 31 August 2024

4,200

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 September 2024

1,473,357

Additions

12,017

At 31 August 2025

1,485,374

DEPRECIATION

At 1 September 2024

1,195,543

Charge for year

58,430

At 31 August 2025

1,253,973

NET BOOK VALUE

At 31 August 2025

231,401

At 31 August 2024

277,814

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 September 2024

and 31 August 2025

55,290

DEPRECIATION

At 1 September 2024

19,904

Charge for year

7,078

At 31 August 2025

26,982

NET BOOK VALUE

At 31 August 2025

28,308

At 31 August 2024

35,386

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.25

31.8.24

£

Trade debtors

117,971

172,643

Other debtors

26,148

29,979

144,119

202,622

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.25

31.8.24

£

Bank loans and overdrafts

109,646

91,965

Hire purchase contracts

10,181

Trade creditors

83,429

89,420

Taxation and social security

49,270

52,480

Other creditors

63,511

122,394

316,037

366,440

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.8.25

31.8.24

£

Bank loans

86,957

114,408

Hire purchase contracts

14,879

25,060

101,836

139,468

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

4,630

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.8.25

31.8.24

£

Bank loans

113,693

138,784

10.	RELATED PARTY DISCLOSURES

The directors have made unsecured loans to the company. These loans subsisted throughout the year and the balance owing to the directors at 31st August 2025 was £20,606 (2024 - £61,648).

Throughout the year the company rented business premises from Croman Limited, a company in which the directors and connected persons own 100% of the issued share capital. The rent paid during the year, which was on normal commercial terms, amounted to £50,580 (2024 - £50,180). Croman Ltd has also made an unsecured interest free loan to the company. The balance owing to Croman Ltd at 31st August 2025 was £22,444 (2024 - £34,786).

11.	ULTIMATE CONTROLLING PARTY

The company was controlled throughout the year by its directors, who between them, own 100% of the issued share capital.