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Registration number: 05030750

Plaswire Limited
Annual Report and Unaudited Abridged Financial Statements
for the Year Ended 31 January 2026

Plaswire Limited

Contents

Company Information | 1
Abridged Balance Sheet | 2 to 3
Notes to the Unaudited Abridged Financial Statements | 4 to 9

Plaswire Limited

Company Information

Director | Mr AS Billingsley

Registered office | 5 Brayford Square LONDON E1 0SG

Bankers | HSBC Bank plc 5 Donegall Square South BELFAST BT1 5JP

Accountants | Roberts & Co Chartered AccountantsSuite 721 Lisburn Enterprise Centre 6 Enterprise Crescent LISBURN Co. Antrim BT28 2BP

Plaswire Limited

(Registration number: 05030750)
Abridged Balance Sheet as at 31 January 2026

| Note | 2026 £ | 2025 £
Fixed assets |  |  |
Tangible assets | 4 | 2,617,535 | 1,460,346
Current assets |  |  |
Stocks |  | 92,219 | 66,068
Debtors |  | 299,579 | 396,922
Cash at bank and in hand |  | 8,215 | 210
|  | 400,013 | 463,200
Prepayments and accrued income |  | 3,735 | 19,098
Creditors: Amounts falling due within one year |  | (763,812) | (1,044,358)
Net current liabilities |  | (360,064) | (562,060)
Total assets less current liabilities |  | 2,257,471 | 898,286
Creditors: Amounts falling due after more than one year |  | (395,979) | (514,247)
Accruals and deferred income |  | (34,620) | (90,351)
Net assets |  | 1,826,872 | 293,688
Capital and reserves |  |  |
Called up share capital | 5 | 2 | 2
Revaluation reserve |  | 1,142,653 | -
Retained earnings |  | 684,217 | 293,686
Shareholders' funds |  | 1,826,872 | 293,688

Plaswire Limited

(Registration number: 05030750)
Abridged Balance Sheet as at 31 January 2026

For the financial year ending 31 January 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 14 August 2026

Mr AS Billingsley Director |  |

Plaswire Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2026

1 | General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
5 Brayford Square
LONDON
E1 0SG

These financial statements were authorised for issue by the director on 14 August 2026.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis. The company meets its day to day working requirements through an overdraft facility, which is repayable on demand. The validity of the going concern assumption is dependent upon the continuing support from the company's bankers and creditors, coupled with the future profitability of the company. The director is confident that this support remains in place. The trading results for the year, taking into account the major investments in staff and research and development, coupled with the significant property revaluation, gives the director further comfort that the company's plans are well placed.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Plaswire Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2026

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The exception to this being the land and buildings, which are carried at their revalued amount.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Plant and machinery | 20% reducing balance
Land and buildings | The cost of land and buildings is not depreciated due to the revaluation
Motor vehicles | 25% straight line
Fixtures and fittings | 25% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Plaswire Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2026

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Plaswire Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2026

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3 | Staff numbers

The average number of persons employed by the company (including the director) during the year, was 20 (2025 - 17).

Plaswire Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2026

4 | Tangible assets

| Land and buildings £ | Furniture, fittings and equipment £ | Motor vehicles £ | Other tangible assets £ | Total £
Cost or valuation
At 1 February 2025 | 1,192,196 | 4,865 | 9,295 | 1,078,912 | 2,285,268
Revaluations | 960,029 | - | - | - | 960,029
Additions | 72,775 | 1,290 | - | 39,213 | 113,278
At 31 January 2026 | 2,225,000 | 6,155 | 9,295 | 1,118,125 | 3,358,575
Depreciation
At 1 February 2025 | 182,624 | 685 | 8,619 | 632,994 | 824,922
Charge for the year | - | 1,539 | 176 | 97,027 | 98,742
Impairment | (182,624) | - | - | - | (182,624)
At 31 January 2026 | - | 2,224 | 8,795 | 730,021 | 741,040
Carrying amount
At 31 January 2026 | 2,225,000 | 3,931 | 500 | 388,104 | 2,617,535
At 31 January 2025 | 1,009,572 | 4,180 | 676 | 445,918 | 1,460,346

Included within the net book value of land and buildings above is £2,225,000 (2025 - £1,009,572) in respect of freehold land and buildings.

Plaswire Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2026

Revaluation

The fair value of the company's Land and buildings was revalued on 30 April 2026 by an independent valuer.
The property was valued at £2,225,000 on the basis of a Market Valuation. The key assumptions included the adoption of the comparable and investment methods of valuation. It was assumed that the property benefits from clean and marketable title, with no encumbrance or underlying issues. Furthermore, the valuation assumes Vacant Possession on the valuation date, apart from the portion leased to a tenant. The director believes it is appropriate to reflect this valuation in the financial statements, given the magnitude of difference between the valuation and the historical cost of the assets concerned.. The name and qualification of the independent valuer are Tim Reid BSc (Hons) MRICS and Scott Lawther BSc (Hons) MRICS for Colliers Belfast Limited, who are both valuers registered in accordance with the RICS Valuer Registration Scheme (VRS).
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £1,264,971 (2025 - £1,192,196).

5 | Share capital

Allotted, called up and fully paid shares

| 2026 | 2025
| No. | £ | No. | £
Ordinary shares of £1 each | 2 | 2 | 2 | 2

6 | Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

| Revaluation reserve £ | Total £
Surplus/deficit on property, plant and equipment revaluation | 1,142,653 | 1,142,653

| Property, plant and equipment 2026 £
Total amount of revalued assets | 960,029
Amount of revaluation for the year | 960,029