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Registered number: 03047467
Resin Building Products Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2025
Eyre and Co Accountants
16 Castlegate
Tickhill
Doncaster
DN11 9QU
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 03047467
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 3 216,138 150,156
216,138 150,156
CURRENT ASSETS
Stocks 4 839,318 885,559
Debtors 5 1,307,209 678,248
Cash at bank and in hand 198,975 692,784
2,345,502 2,256,591
Creditors: Amounts Falling Due Within One Year 6 (560,592 ) (608,700 )
NET CURRENT ASSETS (LIABILITIES) 1,784,910 1,647,891
TOTAL ASSETS LESS CURRENT LIABILITIES 2,001,048 1,798,047
PROVISIONS FOR LIABILITIES
Deferred Taxation (30,214 ) (28,530 )
NET ASSETS 1,970,834 1,769,517
CAPITAL AND RESERVES
Called up share capital 7 300 300
Profit and Loss Account 1,970,534 1,769,217
SHAREHOLDERS' FUNDS 1,970,834 1,769,517
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For the year ending 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Carl Taylor
Director
16/03/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
1.2. Turnover
Turnover represents the net invoiced value of goods and services provided, stated net of value added tax.
1.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15% on Cost
Motor Vehicles 25% on Cost
Fixtures & Fittings 15% on Cost
Computer Equipment 15% on Cost
1.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
1.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2. Average Number of Employees
Average number of employees, including directors, during the year was:
2025 2024
Administration 8 8
Production 15 10
23 18
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3. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 January 2025 243,347 - 93,625 39,196 376,168
Additions 27,366 57,120 - 19,675 104,161
As at 31 December 2025 270,713 57,120 93,625 58,871 480,329
Depreciation
As at 1 January 2025 153,813 - 47,897 24,302 226,012
Provided during the period 20,699 - 11,417 6,063 38,179
As at 31 December 2025 174,512 - 59,314 30,365 264,191
Net Book Value
As at 31 December 2025 96,201 57,120 34,311 28,506 216,138
As at 1 January 2025 89,534 - 45,728 14,894 150,156
4. Stocks
2025 2024
£ £
Stock 839,318 885,559
5. Debtors
2025 2024
£ £
Due within one year
Trade debtors 732,715 541,880
Prepayments and accrued income 6,272 6,332
Factored debts outstanding 104,727 127,890
Net wages 3,495 2,146
847,209 678,248
Due after more than one year
Amounts owed by group undertakings 460,000 -
1,307,209 678,248
On 31 December 2023 the balance of factored debts outstanding was £493,093 (2022 £591,401) and this includes the balance due from the factoring company itself.
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Page 5
6. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 332,074 446,392
Corporation tax 64,019 98,364
Other taxes and social security 16,973 10,859
VAT 91,891 47,103
Credit card (444 ) 60
Tesla creditor 48,863 -
Accruals and deferred income 7,216 5,922
560,592 608,700
7. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 300 300
8. Ultimate Controlling Party
The directors are the shareholders and they controlled the company during the year.
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