Plastic Technology Services Ltd Company accounts

COMPANY REGISTRATION NUMBER: SC133850

Plastic Technology Services Ltd

Financial Statements

31 October 2025

Plastic Technology Services Ltd

Financial Statements

Year ended 31 October 2025

Contents	Page

Officers and professional advisers	1

Strategic report	2

Directors' report	4

Independent auditor's report to the members	6

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

Plastic Technology Services Ltd

Officers and Professional Advisers

The board of directors	Mr I Wallace
	Mr W J Hewitson

Company secretary	Mrs M Wallace

Registered office	Garroch Business Park
	Garroch Loaning
	Dumfries
	DG2 8PN

Auditor	Sumer Auditco Limited
	Chartered Accountants & statutory auditor
	41 Charlotte Square
	Edinburgh
	EH2 4HQ

Plastic Technology Services Ltd

Strategic Report

Year ended 31 October 2025

Business Review The principal activity of the company continued to be that of recycled plastic processors to provide high quality, environmentally friendly thermoplastic raw materials. Principal Risks and Uncertainties The key risks identified by the directors relate to the following: - Raw Material Volatility Ongoing volatility with input feedstock prices is anticipated. The company will use its compounding expertise to blend materials for cost optimisation. Energy Intensity Plastic processing remains energy heavy. Utilisation of market energy purchasing in tranches is critical to managing the energy price spikes.

Key Performance Indicators The directors monitor the company's progress by reference to certain KPI's. Performance during the year, together with historical trend data is set out below:-

	2025	2024
	£	£
Turnover	12,396,692	11,314,466
Operating profit	982,745	16,058
Profit/ (loss) before tax	877,745	121,479
Profit after tax	661,398	40,485

To measure the success against the following key performance indicators will be used:- Capacity Utilisation 2026 target for volume manufactured has been set as more than 5%. Increased orders will result in increased manufacturing volume. Quality Customer returns with less than one per month. The cost of customer returns is high and therefore we are looking to improve the consistency of our end product. Financial Toll processing volumes to increase by 10%. Increasing toll processing volumes fills capacity without cash flow implications of having to buy stock. Future Outlook The Company continues to look towards growth opportunities. This, coupled with consolidation of existing sales volumes, should continue to strengthen and grow the Company.

This report was approved by the board of directors on 30 July 2026 and signed on behalf of the board by:

Mr I Wallace

Director

Plastic Technology Services Ltd

Directors' Report

Year ended 31 October 2025

The directors present their report and the financial statements of the company for the year ended 31 October 2025 .

Directors

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

Mr I Wallace
Mr W J Hewitson

Dividends

No dividends were recommended at the year end.

Future developments

Details are given in the strategic report.

Financial instruments

All financial instruments are basic financial instruments.

Events after the end of the reporting period

The Iran war is having an effect on commodity pricing and energy pricing however the Company is managing this.

Disclosure of information in the strategic report

The company has chosen to disclose information required by Schedule 7 of the Large & Medium sized Companies and Groups (Accounts and Reports) Regulations 2008 in the Strategic Report in accordance with section 414C(11) of the Companies Act 2006 (Strategic Report and Directors Report) Regulations 2013.

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 30 July 2026 and signed on behalf of the board by:

Mr I Wallace

Director

Plastic Technology Services Ltd

Independent Auditor's Report to the Members of Plastic Technology Services Ltd

Year ended 31 October 2025

Opinion

We have audited the financial statements of Plastic Technology Services Ltd (the 'company') for the year ended 31 October 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 31 October 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

We have nothing to report in respect of the following matters where 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 the 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; and

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 identified the laws and regulations applicable to the Company through discussions with management. We gained an understanding on the laws and regulations relevant to the company focusing on specific laws and regulations which may have a direct effect on the financial statements or the operations of the company. The main relevant frameworks we identified were: UK GAAP Companies Act 2006 Corporation tax legislation Health & safety regulations Environmental Health We reviewed relevant correspondence with regulatory bodies and reviewed external inspection reports. We determined materiality and assessed the risks of material misstatement in the financial statements, including how fraud may occur by enquiring of management. We assessed the susceptibility of the financial statements to material misstatement, including an understanding of how fraud might occur, by: - making enquiries of management as to where they considered there was susceptibility to fraud - considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations To address the risk of fraud through management bias and override of controls, we: - performed analytical procedures to identify any unusual movements - assessed whether judgements and assumptions made in determining accounting estimates were indicative of potential bias - reviewed and tested journal entries to identify any unusual transactions - identified related parties In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to: - setting a level of materiality at the planning stage including the basis for determining this - agreeing financial statement disclosures to supporting documentation - enquiring of management as to any actual or potential litigation and claims as well as actual and suspected fraud Because of the inherent limitations of an audit, there is a risk that we 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 we 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 our 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 our auditor’s report. 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.

Walter Raymond Paterson

(Senior Statutory Auditor)

For and on behalf of

Sumer Auditco Limited

Chartered Accountants & statutory auditor

41 Charlotte Square

Edinburgh

EH2 4HQ

30 July 2026

Plastic Technology Services Ltd

Statement of Comprehensive Income

Year ended 31 October 2025

		2025	2024
Note		£	£
Turnover	4	12,396,692	11,314,466

Cost of sales	10,631,985	10,607,538
	-------------	-------------
Gross profit	1,764,707	706,928

Administrative expenses		931,881	776,441
Other operating income	5	149,919	85,571
		------------	---------
Operating profit	6	982,745	16,058

Other interest receivable and similar income	10	5,257	4,814
Interest payable and similar expenses	11	110,257	142,351
		------------	---------
Profit/(loss) before taxation		877,745	( 121,479)

Tax on profit/(loss)	12	216,347	( 161,964)
		---------	---------
Profit for the financial year and total comprehensive income		661,398	40,485
		---------	---------

All the activities of the company are from continuing operations.

Plastic Technology Services Ltd

Statement of Financial Position

31 October 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	14	4,328,140	4,805,174

Current assets

Stocks	15	761,704	556,789
Debtors	16	2,621,418	2,132,638
Cash at bank and in hand		698,955	247,010
		------------	------------
		4,082,077	2,936,437

Creditors: amounts falling due within one year	17	3,075,121	2,636,213
		------------	------------
Net current assets		1,006,956	300,224
		------------	------------
Total assets less current liabilities		5,335,096	5,105,398

Creditors: amounts falling due after more than one year	18	1,177,085	1,643,720

Provisions	20	389,345	254,410
		------------	------------
Net assets		3,768,666	3,207,268
		------------	------------

Capital and reserves

Called up share capital	25	60,000	60,000
Profit and loss account	26	3,708,666	3,147,268
		------------	------------
Shareholders funds		3,768,666	3,207,268
		------------	------------

These financial statements were approved by the board of directors and authorised for issue on 30 July 2026 , and are signed on behalf of the board by:

Mr I Wallace

Director

Company registration number: SC133850

Plastic Technology Services Ltd

Statement of Changes in Equity

Year ended 31 October 2025

		Called up share capital	Profit and loss account	Total
Note		£	£	£
At 1 November 2023 (as previously reported)		60,000	2,994,783	3,054,783
Prior period adjustments	24	–	192,000	192,000
		--------	------------	------------
At 1 November 2023 (restated)		60,000	3,186,783	3,246,783
		--------	------------	------------

Profit for the year			40,485	40,485
		--------	------------	------------
Total comprehensive income for the year		–	40,485	40,485

Dividends paid and payable	13	–	( 80,000)	( 80,000)
		--------	------------	------------
Total investments by and distributions to owners		–	( 80,000)	( 80,000)

At 31 October 2024		60,000	3,147,268	3,207,268

Profit for the year			661,398	661,398
		--------	------------	------------
Total comprehensive income for the year		–	661,398	661,398

Dividends paid and payable	13	–	( 100,000)	( 100,000)
		----	---------	---------
Total investments by and distributions to owners		–	( 100,000)	( 100,000)

		--------	------------	------------
At 31 October 2025		60,000	3,708,666	3,768,666
		--------	------------	------------

Plastic Technology Services Ltd

Statement of Cash Flows

Year ended 31 October 2025

	2025	2024
	£	£

Cash flows from operating activities

Profit for the financial year	661,398	40,485

Adjustments for:
Depreciation of tangible assets	571,778	598,473
Government grant income	( 85,571)	( 85,571)
Other interest receivable and similar income	( 5,257)	( 4,814)
Interest payable and similar expenses	110,257	142,351
Gains on disposal of tangible assets	( 6,000)	( 2,500)
Tax on profit/(loss)	216,347	( 161,964)
Accrued expenses/(income)	144,853	( 16,113)

Changes in:
Stocks	( 204,915)	300,421
Trade and other debtors	( 488,780)	( 392,621)
Trade and other creditors	449,043	208,859
	------------	---------
Cash generated from operations	1,363,153	627,006

Interest paid	( 110,257)	( 142,351)
Interest received	5,257	4,814
Tax paid	( 64,348)	–
	------------	---------
Net cash from operating activities	1,193,805	489,469
	------------	---------

Cash flows from investing activities

Purchase of tangible assets	( 94,745)	( 93,433)
Proceeds from sale of tangible assets	6,001	2,500
	------------	---------
Net cash used in investing activities	( 88,744)	( 90,933)
	------------	---------

Cash flows from financing activities

Repayments of borrowings	( 109,986)	( 187,897)
Proceeds from loans from group undertakings	4,786	–
Payments of finance lease liabilities	( 447,916)	( 387,916)
Dividends paid	( 100,000)	( 80,000)
	------------	---------
Net cash used in financing activities	( 653,116)	( 655,813)
	------------	---------

Net increase/(decrease) in cash and cash equivalents	451,945	( 257,277)
Cash and cash equivalents at beginning of year	247,010	504,287
	---------	---------
Cash and cash equivalents at end of year	698,955	247,010
	---------	---------

Plastic Technology Services Ltd

Notes to the Financial Statements

Year ended 31 October 2025

1. General information

The company is a private company limited by shares, incorporated and registered in Scotland (SC 133850). The address of the registered office is Garroch Business Park, Garroch Loaning, Dumfries, Dumfriesshire DG2 8PN.

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, rounded to the nearest £1. The financial statements relate to the individual entity.

Dividends

Dividends and other distributions to shareholders are recognised as a liability in the financial statements in the period in which the dividends are paid. These amounts are recognised in the statement of changes in equity.

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered.

Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash and cash equivalents

Cash and bank in hand includes cash and short term highly liquid investments.

Creditors

Creditors are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements in compliance with FRS102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies. The estimates and assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period to which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods . The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next year include:-

	Stock - this includes estimated valuation for blended/unblended stock.
	Depreciation - this is estimated but monitored regularly.

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.

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	-	straight line over 14.5 - 50 years
Plant and machinery	-	straight line over 2 - 7 years
Fixtures and fittings	-	straight line over 3 - 5 years

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. Cost of blended/unblended stock is computed at selling price less estimated mark-ups.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.

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 company 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. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

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. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. 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
	£	£
Sale of goods	11,655,599	10,704,931
Rendering of services	741,093	609,535
	-------------	-------------
	12,396,692	11,314,466
	-------------	-------------

The turnover is attributable to the one principal activity of the company. An analysis of turnover by the geographical markets that substantially differ from each other is given below:

	2025	2024
	£	£
United Kingdom	12,288,239	11,314,466
Overseas	108,453	–
	-------------	-------------
Total	12,396,692	11,314,466
	-------------	-------------

5. Other operating income

	2025	2024
	£	£
Government grant income	85,571	85,571
Other operating income	64,348	–
	---------	--------
	149,919	85,571
	---------	--------

6. Operating profit

Operating profit or loss is stated after charging/crediting:

	2025	2024
	£	£
Depreciation of tangible assets	571,778	598,473
Gains on disposal of tangible assets	( 6,000)	( 2,500)
Foreign exchange differences	1,267	( 173)
	---------	---------

7. Auditor's remuneration

	2025	2024
	£	£
Fees payable for the audit of the financial statements	10,000	10,000
	--------	--------

8. Staff costs

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

	2025	2024
	No.	No.
Total number of staff	44	40
	----	----

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

	2025	2024
	£	£
Wages and salaries	1,300,496	1,181,744
Social security costs	147,632	113,989
Other pension costs	127,884	102,826
	------------	------------
	1,576,012	1,398,559
	------------	------------

The total compensation paid to key management personnel was £270,062 (2024: £116,694).

9. Directors' remuneration

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

	2025	2024
	£	£
Company contributions to defined contribution pension plans	6,100	11,461
	-------	--------

10. Other interest receivable and similar income

	2025	2024
	£	£
Interest on bank deposits	5,257	4,814
	-------	-------

11. Interest payable and similar expenses

	2025	2024
	£	£
Interest on banks loans and overdrafts	75,276	80,598
Interest on obligations under finance leases and hire purchase contracts	34,981	61,753
	---------	---------
	110,257	142,351
	---------	---------

12. Tax on profit/(loss)

Major components of tax expense/(income)

	2025	2024
	£	£

Current tax:

UK current tax expense	81,412	–

Deferred tax:

Origination and reversal of timing differences	134,935	( 161,964)
	---------	---------
Tax on profit/(loss)	216,347	( 161,964)
	---------	---------

Reconciliation of tax expense/(income)

The tax assessed on the profit/(loss) on ordinary activities for the year is lower than (2024: lower than) the standard rate of corporation tax in the UK of 25 % (2024: 22.77 %).

	2025	2024
	£	£
Profit/(loss) on ordinary activities before taxation	877,745	( 121,479)
	---------	---------
Profit/(loss) on ordinary activities by rate of tax	219,436	( 27,654)
Effect of expenses not deductible for tax purposes	1,715	28
Effect of capital allowances and depreciation	119,258	132,680
Effect of revenue exempt from tax	( 21,393)	( 21,393)
Utilisation of tax losses	( 237,604)	( 79,962)
Unused tax losses	–	( 45,602)
Deferred tax	134,935	( 116,362)
Accrued pension contributions	–	( 3,699)
	---------	---------
Tax on profit/(loss)	216,347	( 161,964)
	---------	---------

13. Dividends

	2025	2024
	£	£
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year )	100,000	80,000
	---------	--------

14. Tangible assets

	Freehold property	Plant and machinery	Fixtures and fittings	Total
	£	£	£	£
Cost
At 1 November 2024	2,996,156	4,165,169	53,535	7,214,860
Additions	–	93,302	1,443	94,745
Disposals	–	( 6,000)	–	( 6,000)
	------------	------------	--------	------------
At 31 October 2025	2,996,156	4,252,471	54,978	7,303,605
	------------	------------	--------	------------
Depreciation
At 1 November 2024	159,028	2,213,220	37,438	2,409,686
Charge for the year	66,367	500,528	4,883	571,778
Disposals	–	( 5,999)	–	( 5,999)
	------------	------------	--------	------------
At 31 October 2025	225,395	2,707,749	42,321	2,975,465
	------------	------------	--------	------------
Carrying amount
At 31 October 2025	2,770,761	1,544,722	12,657	4,328,140
	------------	------------	--------	------------
At 31 October 2024	2,837,128	1,951,949	16,097	4,805,174
	------------	------------	--------	------------

Finance leases and hire purchase contracts

Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:

	Plant and machinery
	£
At 31 October 2025	548,517
	---------
At 31 October 2024	775,976
	---------

15. Stocks

	2025	2024
	£	£
Raw materials and finished goods	761,704	556,789
	---------	---------

16. Debtors

	2025	2024
	£	£
Trade debtors	2,268,863	1,886,753
Amounts owed by group undertakings	–	2,954
Prepayments and accrued income	351,394	241,630
Other debtors	1,161	1,301
	------------	------------
	2,621,418	2,132,638
	------------	------------

17. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	119,330	129,197
Trade creditors	1,288,305	1,095,223
Amounts owed to group undertakings	4,786	–
Accruals and deferred income	469,805	324,952
Corporation tax	17,064	–
Social security and other taxes	248,752	193,012
Obligations under finance leases and hire purchase contracts	220,945	387,916
Director loan accounts	500,000	500,000
Other creditors	206,134	5,913
	------------	------------
	3,075,121	2,636,213
	------------	------------

Bank loans and overdrafts

	2025	2024
	£	£
Bank loans	69,997	69,997
Other loan	49,333	59,200
	---------	---------
	119,330	129,197
	---------	---------

	2025	2024
	£	£
Secured creditors	340,275	517,113
	---------	---------
UK sales	340,275	517,113
	---------	---------

The Royal Bank of Scotland holds a standard security over the property at Garroch Business Park and a bond and floating charge over all assets of the company in respect of all sums due. Finance leases and hire purchase creditors are secured over the assets to which they relate.

18. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	915,750	1,015,869
Accruals and deferred income	199,918	285,489
Obligations under finance leases and hire purchase contracts	61,417	342,362
	------------	------------
	1,177,085	1,643,720
	------------	------------

Bank loans and overdrafts

	2025	2024
	£	£
Bank loans	915,750	966,536
Other loan	-	49,333
	---------	------------
UK sales	915,750	1,015,869
	---------	------------

	2025	2024
	£	£
Secured creditors	977,167	1,358,231
	---------	------------

19. Finance leases and hire purchase contracts

The total future minimum lease payments under finance leases and hire purchase contracts are as follows:

	2025	2024
	£	£
Not later than 1 year	220,945	387,916
Later than 1 year and not later than 5 years	61,417	342,362
	---------	---------
	282,362	730,278
	---------	---------

20. Provisions

	Deferred tax (note 21)
	£
At 1 November 2024	254,410
Additions	134,935
	---------
At 31 October 2025	389,345
	---------

21. Deferred tax

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

	2025	2024
	£	£
Included in provisions (note 20)	389,345	254,410
	---------	---------

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

	2025	2024
	£	£
Accelerated capital allowances	389,345	492,012
Unused tax losses	–	( 237,602)
	---------	---------
	389,345	254,410
	---------	---------

22. Employee benefits

Defined contribution plans

The amount recognised in profit or loss as an expense in relation to defined contribution plans was £ 127,884 (2024: £ 102,826 ).

23. Government grants

The amounts recognised in the financial statements for government grants are as follows:

	2025	2024
	£	£

Recognised in creditors:

Deferred government grants due within one year	85,571	85,571
	--------	--------

Recognised in other operating income:

Government grants recognised directly in income	85,571	85,571
	--------	--------

24. Prior period errors

The prior year adjustment is a correction of the deferred tax provision brought forward re tax losses.

	2025	2024
	£	£
Correction to deferred tax provision	–	192,000
	----	---------

25. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	60,000	60,000	60,000	60,000
	--------	--------	--------	--------

26. Reserves

Profit and loss account - This reserve records retained earnings and accumulated losses. Other reserve - This reserve records amounts set aside from the profit and loss account.

27. Analysis of changes in net debt

	At 1 Nov 2024	Cash flows	At 31 Oct 2025
	£	£	£
Cash at bank and in hand	247,010	451,945	698,955
Debt due within one year	(1,017,113)	172,052	(845,061)
Debt due after one year	(1,358,231)	381,064	(977,167)
	------------	------------	------------
	( 2,128,334)	1,005,061	( 1,123,273)
	------------	------------	------------

Plastic Technology Services Ltd

Notes to the Financial Statements (continued)

Year ended 31 October 2025

28. Related party transactions

Included in creditors is a balance due to the company's parent company, PTS (Scotland) Ltd, of £4,786 (2024 £2,954 debtor). During the year key management personnel and his wife provided the company with loans of £100,000 each. These amounts were repaid after the year end. The directors have also loaned the company £250,000 each. A director is also a director and controlling shareholder in related companies. During the year they provided services to the value of £8,461 (2024 £54,293) to the company. The company has taken advantage of the exemption in S33.1A of FRS102 from the requirement to disclose transactions with wholly owned group companies.

29. Controlling party

The company is a 100% subsidiary of PTS (Scotland) Ltd (company number SC266414) with registered office address of Garroch Business Park, Garroch Loaning, Dumfries, Dumfries and Galloway, Scotland, DG2 8PN.