Company No: 00574711 (England and Wales)

Contents

• Company Information
• Accountants' Report
• Balance Sheet
• Notes to the Financial Statements

Directors	M W C Begg
	Mrs M Begg
	Ms P Neal
	Mrs M Nicholls

Secretary

Mrs M Nicholls

Registered office	71 Hailey Road
	Erith
	DA18 4AW
	United Kingdom

Company number

00574711 (England and Wales)

Accountant	Kreston Reeves LLP
	2nd Floor, Maritime Place
	Quayside
	Chatham Maritime
	Chatham
	Kent
	ME4 4QZ

Bankers	HSBC Bank Plc
	38 High Street
	Dartford
	DA1 1DG

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Begg & Co Thermoplastics Limited for the financial year ended 31 December 2025 which comprise the Balance Sheet and the related notes 1 to 8 from the Company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/regulation.

This report is made solely to the Board of Directors of Begg & Co Thermoplastics Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Begg & Co Thermoplastics Limited and state those matters that we have agreed to state to the Board of Directors of Begg & Co Thermoplastics Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Begg & Co Thermoplastics Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Begg & Co Thermoplastics Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Begg & Co Thermoplastics Limited. You consider that Begg & Co Thermoplastics Limited is exempt from the statutory audit requirement for the financial year.

We have not been instructed to carry out an audit or a review of the financial statements of Begg & Co Thermoplastics Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Kreston Reeves LLP

2nd Floor, Maritime Place
Quayside
Chatham Maritime
Chatham
Kent
ME4 4QZ

21 September 2026

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	647,743		205,180
		647,743		205,180
Current assets
Stocks		702,128		913,121
Debtors	4	794,029		1,068,373
Cash at bank and in hand		28,267		15,101
		1,524,424		1,996,595
Creditors: amounts falling due within one year	5	( 1,052,381)		( 1,354,552)
Net current assets		472,043		642,043
Total assets less current liabilities		1,119,786		847,223
Provision for liabilities	6	( 73,824)		0
Net assets		1,045,962		847,223
Capital and reserves
Called-up share capital	7	999		999
Revaluation reserve		465,039		123,228
Capital redemption reserve		999		999
Profit and loss account		578,925		721,997
Total shareholders' funds		1,045,962		847,223

For the financial 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.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Comprehensive Income has not been delivered.

The financial statements of Begg & Co Thermoplastics Limited (registered number: 00574711) were approved and authorised for issue by the Board of Directors on 21 September 2026. They were signed on its behalf by:

Madeleine Eva Nicholls Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Begg & Co Thermoplastics Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 37 St Margarets Street, Canterbury, Kent, CT1 2TU, United Kingdom. The Company's principal continued to be supplying raw materials and products to the plastic moulding industry.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Comprehensive Income in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Dividend income

Dividend income from investments is recognised when the shareholders' rights to receive payment have been established (provided that it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably).

Finance costs

Finance costs are charged to the Statement of Comprehensive Income over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets is reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	depreciated over the life of the lease
Plant and machinery	10 % reducing balance
Fixtures and fittings	12 % reducing balance
Office equipment	4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Properties whose fair value can be measured reliably are held under the revaluation model and are carried at a revalued amount, being their fair value at the date of valuation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The fair value of the land and buildings is usually considered to be their market value.

Revaluation gains and losses are recognised in other comprehensive income and accumulated in equity, except to the extent that a revaluation gain reverses a revaluation loss previously recognised in profit or loss or a revaluation loss exceeds the accumulated revaluation gains recognised in equity; such gains and losses are recognised in profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Comprehensive Income as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	7		7

3. Tangible assets

	Land and buildings		Plant and machinery		Fixtures and fittings		Office equipment		Total
	£		£		£		£		£
Cost/Valuation
At 01 January 2025	275,000		78,183		53,409		40,005		446,597
Additions	0		0		4,090		0		4,090
Revaluations	325,000		0		0		0		325,000
At 31 December 2025	600,000		78,183		57,499		40,005		775,687
Accumulated depreciation
At 01 January 2025	120,118		45,257		37,012		39,030		241,417
Charge for the financial year	6,322		3,293		2,377		975		12,967
Adjustments on revaluations	( 126,440)		0		0		0		( 126,440)
At 31 December 2025	0		48,550		39,389		40,005		127,944
Net book value
At 31 December 2025	600,000		29,633		18,110		0		647,743
At 31 December 2024	154,882		32,926		16,397		975		205,180

Revaluation of tangible assets

If the land and buildings had not been included at valuation they would have been included under the historical cost convention as follows:

	2025		2024
	£		£
Historical cost	181,601		181,601
Accumulated depreciation	(127,120)		(124,850)
Carrying value	54,481		56,751

4. Debtors

	2025		2024
	£		£
Trade debtors	761,411		1,036,076
Prepayments	32,618		32,297
	794,029		1,068,373

5. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank overdrafts	455,660		674,855
Trade creditors	451,719		534,516
Other taxation and social security	115,755		113,817
Other creditors	29,247		31,364
	1,052,381		1,354,552

Invoice Financing


The company has an invoice financing arrangement. Under this arrangement, trade receivables are assigned to the finance provider, and the company receives an advance on the invoiced amounts. The finance provider charges interest and fees on the amounts advanced. As at 31 December 2025, the outstanding balance of the advance was £455,660 (2024: £674,855).

6. Deferred tax

	2025		2024
	£		£
At the beginning of financial year	0		0
Credited to the Profit and Loss Account	30,776		0
Charged to the Statement of Comprehensive Income	( 104,600)		0
At the end of financial year	( 73,824)		0

The deferred taxation balance is made up as follows:

	2025		2024
	£		£
Accelerated capital allowances	( 11,935)		0
Revaluation of tangible assets	( 104,600)		0
Tax losses carry forward	42,711		0
	( 73,824)		0

7. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
999 Ordinary shares of £ 1.00 each	999		999

8. Related party transactions

The Company has not undertaken any related party transactions during the financial year (2024: £Nil)

The remuneration and other employment benefits paid to key management personnel, including employer's national insurance contributions, amounted to £127,600 (2024: £119,434) in the year.