REGISTERED NUMBER: 03565384 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

PLASTIPACK LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

E H Campbell-Salmon

A P Adlington

T Fielder

A Hodgkins

SECRETARY:

E H Campbell-Salmon

REGISTERED OFFICE:

Wainwright House

4 Wainwright Close

St Leonards on Sea

East Sussex

TN38 9PP

REGISTERED NUMBER:

03565384 (England and Wales)

AUDITORS:

Ashdown Hurrey Auditors Ltd

Statutory Auditor

20 Havelock Road

Hastings

East Sussex

TN34 1BP

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

919,991

844,908

919,991

844,908

CURRENT ASSETS

Stocks

1,072,270

1,498,440

Debtors

6

458,469

541,074

Cash at bank and in hand

2,331,009

2,761,694

3,861,748

4,801,208

CREDITORS

Amounts falling due within one year

7

610,631

876,263

NET CURRENT ASSETS

3,251,117

3,924,945

TOTAL ASSETS LESS CURRENT LIABILITIES

4,171,108

4,769,853

PROVISIONS FOR LIABILITIES

9

212,775

190,224

NET ASSETS

3,958,333

4,579,629

CAPITAL AND RESERVES

Called up share capital

50,000

50,000

Retained earnings

3,908,333

4,529,629

SHAREHOLDERS' FUNDS

3,958,333

4,579,629

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 April 2026 and were signed on its behalf by:

A P Adlington - Director

1.	STATUTORY INFORMATION

Plastipack 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.

In preparing the financial statements, the directors are required to make an assessment of the ability of the company to continue as a going concern. The directors have prepared a cash flow forecast for the company which covers the 12 month period from the date of signing these financial statements.

On the basis of these forecasts and the fact that the company has substantial net current assets and net assets, the directors are confident that the company has adequate resources to continue in operational existence and to meet its liabilities as they fall due for the foreseeable future. As a result of the above, the directors have concluded that it remains appropriate to adopt a going concern basis of preparation in these financial statements.

Turnover

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

Turnover represents the sale of manufactured rolls of material relating to the swimming pool trade, such as liners and covers. Turnover is recognised at the point when the rolls leave Plastipack's premises.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

over term of lease

Plant and machinery

-

10% on cost

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33% on cost

Stocks

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

Stock is valued by the company using a Standard Costing method as is common with manufacturers. This standard cost is periodically reviewed to ensure that it also reflects actual cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 40 (2024 - 38 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2025

and 31 December 2025

37,034

AMORTISATION

At 1 January 2025

and 31 December 2025

37,034

NET BOOK VALUE

At 31 December 2025

-

At 31 December 2024

-

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

Computer

property

machinery

fittings

equipment

Totals

£

£

£

£

£

COST

At 1 January 2025

82,069

3,634,783

63,761

195,557

3,976,170

Additions

-

239,209

-

-

239,209

At 31 December 2025

82,069

3,873,992

63,761

195,557

4,215,379

DEPRECIATION

At 1 January 2025

82,069

2,924,910

23,966

100,317

3,131,262

Charge for year

-

129,541

5,964

28,621

164,126

At 31 December 2025

82,069

3,054,451

29,930

128,938

3,295,388

NET BOOK VALUE

At 31 December 2025

-

819,541

33,831

66,619

919,991

At 31 December 2024

-

709,873

39,795

95,240

844,908

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Trade debtors

252,822

260,253

Other debtors

205,647

280,821

458,469

541,074

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Trade creditors

406,135

785,267

Taxation and social security

34,074

30,582

Other creditors

170,422

60,414

610,631

876,263

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.25

31.12.24

£

£

Within one year

191,000

191,000

Between one and five years

764,000

764,000

In more than five years

955,000

1,146,000

1,910,000

2,101,000

9.	PROVISIONS FOR LIABILITIES

31.12.25

31.12.24

£

£

Deferred tax

Accelerated capital allowances

212,775

190,224

Deferred

tax

£

Balance at 1 January 2025

190,224

Accelerated capital allowances

22,551

Balance at 31 December 2025

212,775

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Daniel Oliver FCCA (Senior Statutory Auditor)

for and on behalf of Ashdown Hurrey Auditors Ltd

11.	CAPITAL COMMITMENTS

31.12.25

31.12.24

£

£

Contracted but not provided for in the

financial statements

-

10,441

12.	RELATED PARTY DISCLOSURES

Loans to the company have been made by the directors, and after advances and repayments, £29,936 (2024:£21,698) was owed to the directors at the year end. The loans are repayable upon demand. These loans attract interest at a rate of 8.5% pa.

13.	FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.