Registration number:
for the
Year Ended 31 March 2026
Oxford Plastic Systems (Holdings) Limited
Contents
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Company Information |
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Strategic Report |
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Directors' Report |
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Statement of Directors' Responsibilities |
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Independent Auditor's Report |
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Consolidated Profit and Loss Account |
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Consolidated Statement of Comprehensive Income |
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Consolidated Balance Sheet |
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Balance Sheet |
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Consolidated Statement of Changes in Equity |
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Statement of Changes in Equity |
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Consolidated Statement of Cash Flows |
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Notes to the Financial Statements |
Oxford Plastic Systems (Holdings) Limited
Company Information
|
Directors |
A J B Whiteley C J Whiteley C E J Whiteley |
|
Company secretary |
A J B Whiteley |
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Registered office |
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Auditors |
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Oxford Plastic Systems (Holdings) Limited
Strategic Report for the Year Ended 31 March 2026
The directors present their strategic report for the year ended 31 March 2026.
Principal activity
The principal activity of the company is that of a holding company. The principal activity of the group is the extrusion and remould of plastics and the manufacture of road traffic and safety products.
Fair review of the business
The current year has been challenging for the group due to the global supply chain issues and resulting price impact on raw materials costs. The directors are pleased with the overall result which reflected the necessary commercial actions that needed to be taken during these times.
The group has achieved a profit before tax of £920,801 (2025 - £549,001) which represented 4.41% (2025 - 2.95%) of sales and achieved an overall profit after tax of £752,123 (2025 - £596,058).
The group's sale pipeline remains strong, and the directors are confident that the coming year will see continued growth and improvements in performance. The group is well equipped to capitalise on opportunities in its core domestic and overseas markets
The company's key financial and other performance indicators during the year were as follows:
|
Unit |
2026 |
2025 |
|
|
Turnover |
£ |
20,884,912 |
18,542,750 |
|
Gross profit margin |
% |
45 |
46 |
|
Profit before tax |
£ |
920,801 |
549,001 |
|
Net assets |
£ |
11,937,196 |
11,706,727 |
Future developments and research and development
The group continues to develop both its products and production systems through investment in technology, design and innovation and the directors are confident that this will contribute towards the group's growth.
Principal risks and uncertainties
The directors have considered the key risks facing the business and concluded as follows:
Raw material prices and security of supply
The group uses polymers, resins, reinforcement materials and other specialist manufacturing inputs. The price and availability of these materials can be affected by global demand, energy prices, currency movements, geopolitical events and disruption within international supply chains. Significant increases in input costs may not always be recoverable immediately through selling prices and could therefore adversely affect profitability. The group manages this risk through close relationships with its principal suppliers, alternative sourcing where practicable, appropriate stock management, regular review of purchasing arrangements and timely review of customer pricing.
Energy costs and energy-support arrangements
The group’s manufacturing processes are significant users of electricity. Changes in wholesale energy prices, supply arrangements and the availability or terms of government energy-support schemes could materially affect the group’s cost base. The group monitors energy purchasing arrangements and developments affecting energy-intensive manufacturers. It also continues to identify opportunities to improve energy efficiency and reduce energy consumed per unit of production.
Approved by the
Director
Oxford Plastic Systems (Holdings) Limited
Directors' Report for the Year Ended 31 March 2026
The directors present their report and the for the year ended 31 March 2026.
Directors of the company
The directors who held office during the year were as follows:
Financial instruments
Objectives and policies
The group’s financial instruments, other than derivatives, comprise cash and liquid resources, and various other items such as trade debtors, trade creditors, etc that arise directly from its operations. The main purpose of these financial instruments is to finance the operations of the group. The group is exposed to the usual credit risk and cash flow risk associated with selling on credit and manages this through credit control procedures and staged payments.
Price and foreign exchange risk, credit risk, liquidity risk and cash flow risk
Price risk is the risk that price changes will cause financial losses for the group. A number of the group's sales are transacted in non-sterling currencies. As a result, exchange rate fluctuations impact on the results and cash flows of the group. Fluctuations in exchange rates are carefully monitored by the directors.
Credit risk is the risk that a customer, financial institution or other counterparty to a financial instrument will fail to meet its contractual obligations, resulting in a financial loss to the group. Credit risk is managed by carrying out credit checks on new customers and closely monitoring the payment performance of customers. Procedures are in place to limit the supply of goods to customers who are not paying in accordance with the group's terms of business.
Liquidity risk is the risk that the group will encounter difficulty in meeting its financial obligations as they fall due. Liquidity risk is managed by the monitoring of the group's cash position on a daily basis. The group has facilities in place which cater for its needs.
Cash flow risk is the risk that the group's cash inflows and outflows will vary to such an extent that it is unable to fund its day-to-day operations and commitments as they fall due. Cash flow risk is managed by forecasting. The nature of the group’s business is such that cash flows are predictable, and the directors are able to use this to ensure that facilities are available.
Going concern
Forecasts have been prepared that reflect the current economic circumstances and indicate that the group will continue to operate within their existing facilities. The group also has access to cash reserves of £4.362 million (2025 - £1.558 million). Based on the forecasts prepared and the funds available, sufficient resources are available for the group to conduct business for at least 12 months post signing of the financial statements. As such, the directors believe that it is appropriate for the financial statements to be prepared on the going concern basis.
Reappointment of auditors
Hazlewoods LLP have expressed their willingness to continue in office.
Disclosure of information to the auditor
Each director has taken the steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditor is unaware.
Approved by the
Director
Oxford Plastic Systems (Holdings) Limited
Statement of Directors' Responsibilities
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 group and company and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:
• | select suitable accounting policies and apply them consistently; |
• | make judgements and accounting estimates that are reasonable and prudent; |
• | state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
• | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the group and company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group's and the company's transactions and disclose with reasonable accuracy at any time the financial position of the group and 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 group and the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Oxford Plastic Systems (Holdings) Limited
Independent Auditor's Report to the Members of Oxford Plastic Systems (Holdings) Limited
Opinion
We have audited the financial statements of Oxford Plastic Systems (Holdings) Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2026, which comprise the Consolidated Profit and Loss Account, Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Balance Sheet, Consolidated Statement of Changes in Equity, Statement of Changes in Equity, Consolidated Statement of Cash Flows, and Notes to the Financial Statements, 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 Financial Reporting Standard 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 group's and the parent company's affairs as at 31 March 2026 and of the group's profit for the year then ended; |
• | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
• | 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 responsibilities for the audit of the financial statements section of our report. We are independent of the group 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 group's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were 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 directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. 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.
Opinion on other matter 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 Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
|
• |
the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements. |
Oxford Plastic Systems (Holdings) Limited
Independent Auditor's Report to the Members of Oxford Plastic Systems (Holdings) Limited
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the group and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Directors' Report.
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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or |
• | the parent company financial statements are not in agreement with the accounting records and 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. |
Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page 4, 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 group’s and the parent 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 group or the parent 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.
Extent to which the audit was capable of detecting irregularities, including fraud
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 considered the nature of the group’s industry and its control environment and reviewed the group's documentation of their policies and procedures relating to fraud and compliance with laws and regulations. We also enquired of management about their own identification and assessment of the risks of irregularities.
We obtained an understanding of the legal and regulatory framework that the group operates in and identified the key laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements, including the UK Companies Act and tax legislation, and, those that do not have a direct effect on the financial statements but compliance with which may be fundamental to the group’s ability to operate or to avoid a material penalty.
We discussed among the audit engagement team regarding the opportunities and incentives that may exist within the organisation for fraud and how and where fraud might occur in the financial statements.
In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override of controls. In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments; assessed whether the judgments made in accounting estimates are indicative of a potential bias; and evaluated the business rationale of any significant transactions that are unusual or outside the normal course of business.
In addition to the above, our procedures to respond to the risks identified included the following:
|
• |
reviewing financial statement disclosures by testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements; |
|
• |
performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatements due to fraud; and |
Oxford Plastic Systems (Holdings) Limited
Independent Auditor's Report to the Members of Oxford Plastic Systems (Holdings) Limited
|
• |
enquiring of management concerning actual and potential litigation and claims and instances of non-compliance with laws and regulations. |
Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.
A further description of our responsibilities is available 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 parent 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 parent 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 parent company and the parent company's members as a body, for our audit work, for this report, or for the opinions we have formed.
For and on behalf of
Staverton Court
Staverton
GL51 0UX
Oxford Plastic Systems (Holdings) Limited
Consolidated Profit and Loss Account for the Year Ended 31 March 2026
|
Note |
2026 |
2025 |
|
|
Turnover |
|
|
|
|
Cost of sales |
( |
( |
|
|
Gross profit |
|
|
|
|
Distribution costs |
( |
( |
|
|
Administrative expenses |
( |
( |
|
|
Other operating income |
|
|
|
|
Operating profit |
|
|
|
|
Other interest receivable and similar income |
|
|
|
|
Interest payable and similar expenses |
( |
( |
|
|
Profit before tax |
|
|
|
|
Tax on profit |
( |
|
|
|
Profit for the financial year |
|
|
|
|
Profit attributable to: |
|||
|
Owners of the company |
|
|
The above results were derived from continuing operations.
Oxford Plastic Systems (Holdings) Limited
Consolidated Statement of Comprehensive Income for the Year Ended 31 March 2026
|
2026 |
2025 |
|
|
Profit for the year |
|
|
|
Foreign currency translation losses |
( |
( |
|
Total comprehensive income for the year |
|
|
|
Total comprehensive income attributable to: |
||
|
Owners of the company |
|
|
Oxford Plastic Systems (Holdings) Limited
(Registration number: 08409646)
Consolidated Balance Sheet as at 31 March 2026
|
Note |
2026 |
2025 |
|
|
Fixed assets |
|||
|
Tangible assets |
|
|
|
|
Current assets |
|||
|
Stocks |
|
|
|
|
Debtors |
|
|
|
|
Cash at bank and in hand |
|
|
|
|
|
|
||
|
Creditors: Amounts falling due within one year |
( |
( |
|
|
Net current assets |
|
|
|
|
Total assets less current liabilities |
|
|
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
|
Provisions for liabilities |
( |
( |
|
|
Net assets |
|
|
|
|
Capital and reserves |
|||
|
Called up share capital |
113 |
120 |
|
|
Capital redemption reserve |
7 |
- |
|
|
Revaluation reserve |
22,477 |
22,477 |
|
|
Merger reserve |
230,208 |
230,208 |
|
|
Profit and loss account |
11,684,391 |
11,453,922 |
|
|
Equity attributable to owners of the company |
11,937,196 |
11,706,727 |
|
|
Total equity |
11,937,196 |
11,706,727 |
Approved and authorised by the
Director
Oxford Plastic Systems (Holdings) Limited
(Registration number: 08409646)
Balance Sheet as at 31 March 2026
|
Note |
2026 |
2025 |
|
|
Fixed assets |
|||
|
Investments |
|
|
|
|
Current assets |
|||
|
Debtors |
- |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
|
||
|
Creditors: Amounts falling due within one year |
( |
( |
|
|
Net current assets |
|
|
|
|
Net assets |
|
|
|
|
Capital and reserves |
|||
|
Called up share capital |
113 |
120 |
|
|
Capital redemption reserve |
7 |
- |
|
|
Profit and loss account |
35,300 |
511,242 |
|
|
Total equity |
35,420 |
511,362 |
The company made a profit after tax for the financial year of £26,558 (2025 - profit of £1,113).
Approved and authorised by the
Director
Oxford Plastic Systems (Holdings) Limited
Consolidated Statement of Changes in Equity for the Year Ended 31 March 2026
Equity attributable to the parent company
|
Share capital |
Capital redemption reserve |
Revaluation reserve |
Merger reserve |
Profit and loss account |
Total |
|
|
At 1 April 2025 |
|
- |
|
|
|
|
|
Profit for the year |
- |
- |
- |
- |
|
|
|
Other comprehensive income |
- |
- |
- |
- |
( |
( |
|
Total comprehensive income |
- |
- |
- |
- |
|
|
|
Purchase of own share capital |
(7) |
7 |
- |
- |
(502,500) |
(502,500) |
|
At 31 March 2026 |
|
|
|
|
|
|
|
Share capital |
Revaluation reserve |
Merger reserve |
Profit and loss account |
Total |
|
|
At 1 April 2024 |
|
|
|
|
|
|
Profit for the year |
- |
- |
- |
|
|
|
Other comprehensive income |
- |
- |
- |
( |
( |
|
Total comprehensive income |
- |
- |
- |
|
|
|
At 31 March 2025 |
120 |
22,477 |
230,208 |
11,453,922 |
11,706,727 |
Oxford Plastic Systems (Holdings) Limited
Statement of Changes in Equity for the Year Ended 31 March 2026
|
Share capital |
Capital redemption reserve |
Profit and loss account |
Total |
|
|
At 1 April 2025 |
|
- |
|
|
|
Profit for the year |
- |
- |
|
|
|
Purchase of own share capital |
(7) |
7 |
(502,500) |
(502,500) |
|
At 31 March 2026 |
|
|
|
|
|
Share capital |
Capital redemption reserve |
Profit and loss account |
Total |
|
|
At 1 April 2024 |
|
- |
|
|
|
Profit for the year |
- |
- |
|
|
|
At 31 March 2025 |
120 |
- |
511,242 |
511,362 |
Oxford Plastic Systems (Holdings) Limited
Consolidated Statement of Cash Flows for the Year Ended 31 March 2026
|
Note |
2026 |
2025 |
|
|
Cash flows from operating activities |
|||
|
Profit for the year |
|
|
|
|
Adjustments to cash flows from non-cash items |
|||
|
Depreciation and amortisation |
|
|
|
|
Loss on disposal of tangible assets |
|
|
|
|
Finance income |
( |
( |
|
|
Finance costs |
|
|
|
|
Income tax expense |
|
( |
|
|
Research and development tax credits |
( |
( |
|
|
|
|
||
|
Working capital adjustments |
|||
|
Decrease in stocks |
|
|
|
|
Decrease/(increase) in trade debtors |
|
( |
|
|
Decrease in trade creditors |
( |
( |
|
|
Cash generated from operations |
|
|
|
|
Income taxes received |
|
|
|
|
Net cash flow from operating activities |
|
|
|
|
Cash flows from investing activities |
|||
|
Interest received |
|
|
|
|
Acquisitions of tangible assets |
( |
( |
|
|
Net cash flows from investing activities |
( |
( |
|
|
Cash flows from financing activities |
|||
|
Interest paid |
( |
( |
|
|
Payments to finance lease creditors |
( |
( |
|
|
Payments for purchase of own shares |
( |
- |
|
|
Net cash flows from financing activities |
( |
( |
|
|
Net increase in cash and cash equivalents |
|
|
|
|
Cash and cash equivalents at 1 April |
|
|
|
|
Effect of exchange rate fluctuations on cash held |
( |
( |
|
|
Cash and cash equivalents at 31 March |
4,407,994 |
1,950,686 |
|
Oxford Plastic Systems (Holdings) Limited
Notes to the Financial Statements for the Year Ended 31 March 2026
|
General information |
The company is a private company limited by share capital, incorporated in the United Kingdom.
The address of its registered office is:
|
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 financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.
The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the group operates. Monetary amounts in these financial statements are rounded to the nearest Pound.
Summary of disclosure exemptions
Oxford Plastic Systems (Holdings) Limited meets the definition of a qualifying entity under FRS 102 and has therefore taken advantage of the disclosure exemptions available to it in respect of its separate financial statements. Exemptions have been taken in relation to presentation of the company statement of cash flows and company financial instruments.
Basis of consolidation
The consolidated financial statements consolidate the financial statements of the company and its subsidiary undertakings drawn up to 31 March 2026.
No profit and loss account is presented for the company as permitted by Section 408 of the Companies Act 2006. Its profit for the financial year was £26,558 (2025 - £1,113).
A subsidiary is an entity controlled by the company. Control is achieved where the company has the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities.
The results of subsidiaries acquired or disposed of during the year are included in the Profit and Loss Account from the effective date of acquisition or up to the effective date of disposal, as appropriate. Where necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies into line with those used by the group.
The purchase method of accounting is used to account for business combinations that result in the acquisition of subsidiaries by the group. The cost of a business combination is measured as the fair value of the assets given, equity instruments issued and liabilities incurred or assumed at the date of exchange, plus costs directly attributable to the business combination. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. Any excess of the cost of the business combination over the acquirer’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities recognised is recorded as goodwill.
The consolidated financial statements also incorporate the results of business combinations using the merger method of accounting as, on the establishment of the company as the ultimate parent of the group, no change in ownership occurred and the requirements of purchase method accounting therefore did not apply.
Oxford Plastic Systems (Holdings) Limited
Notes to the Financial Statements for the Year Ended 31 March 2026
Inter-company transactions, balances and unrealised gains on transactions between the company and its subsidiaries, which are related parties, are eliminated in full.
Intra-group losses are also eliminated but may indicate an impairment that requires recognition in the consolidated financial statements.
Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the group. Non-controlling interests in the net assets of consolidated subsidiaries are identified separately from the group’s equity therein. Non-controlling interests consist of the amount of those interests at the date of the original business combination and the non-controlling shareholder’s share of changes in equity since the date of the combination.
Going concern
Forecasts have been prepared that reflect the current economic circumstances and indicate that the group will continue to operate within their existing facilities. The group also has access to cash reserves of £4.362 million (2025 - £1.558 million). Based on the forecasts prepared and the funds available, sufficient resources are available for the group to conduct business for at least 12 months post signing of the financial statements. As such, the directors believe that it is appropriate for the financial statements to be prepared on the going concern basis.
Critical accounting judgements and key sources of estimation uncertainty
In the application of the group's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
Judgements
No significant judgements have been made by management in preparing these financial statements. |
Key sources of estimation uncertainty
No key sources of estimation uncertainty have been identified by management in preparing these financial
statements other than those detailed in these accounting policies..
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 group’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the group.
The group 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 group's activities.
Revenue from the sale of goods is recognised when the risks and rewards of ownership are transferred to the customer which is deemed to be upon collection of goods for sales made on an Ex Work's basis and at the point of delivery for sales made on a DAP/DDP incoterms basis.
Government grants
Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised 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.
Oxford Plastic Systems (Holdings) Limited
Notes to the Financial Statements for the Year Ended 31 March 2026
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Research and development
Research expenditure is written off to the profit and loss account in the year in which it is incurred. Development expenditure is written off in the same way unless the directors are satisfied as to the technical, commercial and financial viability of individual projects. In this situation, the expenditure is deferred and amortised over the period during which the company is expected to benefit.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current 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 group operates and generates taxable income.
Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the consolidated financial statements and on unused tax losses or tax credits in the group. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are 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 assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
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, other than land and properties under construction over their estimated useful lives, as follows:
|
Asset class |
Depreciation method and rate |
|
Leasehold improvements |
6.7% - 33% of cost per annum |
|
Plant and machinery |
6.7% - 50% of cost per annum |
|
Fixtures and fittings |
20% of cost per annum |
|
Motor vehicles |
25% of cost per annum |
Investments
Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
At each balance sheet date, the company tests whether there are any indicators of assets being subject to impairment. If any such indications exist, the recoverable amount of the asset is determined. If this proves to be impossible, the recoverable amount of the cash-generating unit to which the asset belongs is identified. An asset is subject to impairment if its carrying amount exceeds its recoverable amount; the recoverable amount is the higher of an asset's fair value less costs to sell and value in use. An impairment loss is directly expensed in the profit and loss account.
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.
Oxford Plastic Systems (Holdings) Limited
Notes to the Financial Statements for the Year Ended 31 March 2026
Trade debtors
Trade debtors are amounts due from customers for goods sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. A provision for the impairment of trade debtors is established when there is objective evidence that the group will not be able to collect all amounts due according to the original terms of the debtors.
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 group 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 all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.
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 group has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the group 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.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
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.
Oxford Plastic Systems (Holdings) Limited
Notes to the Financial Statements for the Year Ended 31 March 2026
Financial instruments
Classification
Recognition and measurement
Impairment
A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.
Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.
For financial assets carried at amortised cost, the amount of an impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.
For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.
Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.
Provisions
Provisions are recognised when the group has an obligation at the reporting date 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.
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.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Oxford Plastic Systems (Holdings) Limited
Notes to the Financial Statements for the Year Ended 31 March 2026
Share based payments
The group and company operates an equity-settled, share-based compensation plan, under which the entity receives services from employees as consideration for equity instruments (options) of the entity. The fair value of the employee services received is measured by reference to the estimated fair value at the grant date of equity instruments granted and is recognised as an expense over the vesting period. The estimated fair value of the option granted is calculated using an average of prior year results and adjusted for market conditions. The directors have appropriately assessed the fair value and deem the adjustment to be immaterial in respect of the share based payment transactions. The proceeds received net of any directly attributable transaction costs are credited to share capital (nominal value) and share premium when the options are exercised.
|
Revenue |
The analysis of the group's turnover for the year from continuing operations is as follows:
|
2026 |
2025 |
|
|
Sale of goods |
|
|
The analysis of the group's turnover for the year by market is as follows:
|
2026 |
2025 |
|
|
UK |
|
|
|
Europe |
|
|
|
Rest of world |
|
|
|
|
|
|
Other operating income |
The analysis of the group's other operating income for the year is as follows:
|
2026 |
2025 |
|
|
Research and development tax credits |
|
|
|
Miscellaneous other operating income |
|
|
|
|
|
The group received a grant from the Technology Strategy Board in 2013 towards eligible costs for the development of a new product. £5,817 (2025 - £5,817) has been recognised in other operating income in respect of this grant.
The group did not directly or indirectly benefit from any other forms of government grant.
|
Operating profit |
Arrived at after charging
|
2026 |
2025 |
|
|
Depreciation expense |
|
|
|
Research and development cost |
|
|
|
Foreign exchange losses |
|
|
|
Operating lease expense - property |
|
|
|
Operating lease expense - plant and machinery |
|
|
|
Loss on disposal of tangible assets |
|
|
Oxford Plastic Systems (Holdings) Limited
Notes to the Financial Statements for the Year Ended 31 March 2026
|
Other interest receivable and similar income |
|
2026 |
2025 |
|
|
Interest income on bank deposits |
|
|
|
Other interest receivable |
2,166 |
594 |
|
|
|
|
Interest payable and similar expenses |
|
2026 |
2025 |
|
|
Interest on obligations under finance leases and hire purchase contracts |
|
|
|
Other finance costs |
- |
|
|
|
|
|
Staff costs |
Group
The aggregate payroll costs (including directors' remuneration) were as follows:
|
2026 |
2025 |
|
|
Wages and salaries |
|
|
|
Social security costs |
|
|
|
Pension costs, defined contribution scheme |
|
|
|
|
|
The average number of persons employed by the group (including directors) during the year, analysed by category was as follows:
|
2026 |
2025 |
|
|
Production |
|
|
|
Administration and support |
|
|
|
Sales |
|
|
|
|
|
Company
The company had no employees and therefore incurred no staff costs.
|
Directors' remuneration |
The directors' remuneration for the year was as follows:
|
2026 |
2025 |
|
|
Remuneration |
|
|
|
Contributions paid to money purchase schemes |
|
|
|
1,545,724 |
492,584 |
Oxford Plastic Systems (Holdings) Limited
Notes to the Financial Statements for the Year Ended 31 March 2026
During the year the number of directors who were receiving benefits was as follows:
|
2026 |
2025 |
|
|
Accruing benefits under money purchase pension scheme |
|
|
In respect of the highest paid director:
|
2026 |
2025 |
|
|
Remuneration |
|
|
|
Company contributions to money purchase pension schemes |
|
|
|
Auditors' remuneration |
|
2026 |
2025 |
|
|
Audit of these financial statements |
6,249 |
6,126 |
|
Audit of the financial statements of subsidiaries of the company pursuant to legislation |
27,359 |
25,306 |
|
|
|
|
Taxation |
Tax charged/(credited) in the consolidated profit and loss account
|
2026 |
2025 |
|
|
Current taxation |
||
|
UK corporation tax |
|
|
|
UK corporation tax adjustment to prior periods |
|
( |
|
179,792 |
(45,908) |
|
|
Foreign tax |
|
|
|
Total current tax |
183,604 |
27,108 |
|
Deferred taxation |
||
|
Arising from origination and reversal of timing differences |
|
( |
|
Arising from previously unrecognised tax loss, tax credit or temporary difference of prior periods |
(38,720) |
- |
|
Total deferred taxation |
( |
( |
|
Tax expense/(receipt) in the profit and loss account |
|
( |
The tax on profit before tax for the year is lower than the standard rate of corporation tax in the UK (2025 - the same as the standard rate of corporation tax in the UK) of
Oxford Plastic Systems (Holdings) Limited
Notes to the Financial Statements for the Year Ended 31 March 2026
The differences are reconciled below:
|
2026 |
2025 |
|
|
Profit before tax |
|
|
|
Corporation tax at standard rate |
|
|
|
Tax increase from effect of capital allowances and depreciation |
|
|
|
Income not taxable for tax purposes |
( |
- |
|
Expenses not deductible for tax purposes |
|
( |
|
Marginal relief |
( |
- |
|
Deferred tax credit from unrecognised tax loss or credit |
- |
( |
|
Increase/(decrease) in current tax from adjustment for prior periods |
|
( |
|
Foreign tax |
|
|
|
Patent box additional deduction |
( |
( |
|
Tax decrease from effect of adjustment in R&D tax credit |
- |
( |
|
Deferred tax credit from unrecognised temporary difference from a prior period |
(4,038) |
- |
|
Current tax exchange difference arising on movement between opening and closing spot rates |
(380) |
- |
|
Total tax charge/(credit) in the profit and loss account |
|
( |
Deferred tax
Group
Deferred tax assets and liabilities
|
2026 |
Liability |
|
Fixed asset timing differences |
|
|
Losses and other deductions |
( |
|
Short term timing differences |
( |
|
|
|
2025 |
Liability |
|
Fixed asset timing differences |
|
|
Losses and other deductions |
( |
|
Short term timing differences |
( |
|
|
Company
The company has no deferred tax assets or liabilities.
Oxford Plastic Systems (Holdings) Limited
Notes to the Financial Statements for the Year Ended 31 March 2026
|
Tangible assets |
Group
|
Leasehold improvements |
Fixtures and fittings |
Motor vehicles |
Plant and machinery |
Total |
|
|
Cost |
|||||
|
At 1 April 2025 |
|
|
|
|
|
|
Additions |
|
|
|
|
|
|
Disposals |
- |
- |
- |
( |
( |
|
At 31 March 2026 |
|
|
|
|
|
|
Depreciation |
|||||
|
At 1 April 2025 |
|
|
|
|
|
|
Charge for the year |
|
|
|
|
|
|
Eliminated on disposal |
- |
- |
- |
( |
( |
|
At 31 March 2026 |
|
|
|
|
|
|
Carrying amount |
|||||
|
At 31 March 2026 |
|
|
|
|
|
|
At 31 March 2025 |
|
|
|
|
|
Assets held under finance leases and hire purchase contracts
The net carrying amount of tangible assets includes the following amounts in respect of assets held under finance leases and hire purchase contracts:
|
2026 |
2025 |
|
|
Plant and machinery |
486,579 |
1,451,470 |
Restriction on title and pledged as security
Oxford Plastic Systems (Holdings) Limited
Notes to the Financial Statements for the Year Ended 31 March 2026
|
Investments |
Company
|
2026 |
2025 |
|
|
Investments in subsidiaries |
|
|
|
Subsidiaries |
£ |
|
Cost |
|
|
At 1 April 2025 and at 31 March 2026 |
|
|
Carrying amount |
|
|
At 31 March 2026 |
|
|
At 31 March 2025 |
|
Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
|
Undertaking |
Registered office |
Proportion of voting rights and shares held |
||
|
2026 |
2025 |
|||
|
Subsidiary undertakings |
||||
|
|
Unit T2, Enstone Airfield, Enstone, Chipping Norton, Oxfordshire, OX7 4NP, England |
|
|
|
|
|
Unit T2, Enstone Airfield, Enstone, Chipping Norton, Oxfordshire, OX7 4NP, England |
|
|
|
|
|
1011 Centre Road, Suite 310, City of Wilmington, County of Newcastle, Delaware, 19805, USA |
|
|
|
* Oxford Plastic Systems LLC is owned by Oxford Plastic Systems International Limited.
|
Stocks |
|
Group |
Company |
|||
|
2026 |
2025 |
2026 |
2025 |
|
|
Raw materials and consumables |
|
|
- |
- |
|
Work in progress |
|
|
- |
- |
|
Finished goods |
|
|
- |
- |
|
|
|
- |
- |
|
Oxford Plastic Systems (Holdings) Limited
Notes to the Financial Statements for the Year Ended 31 March 2026
|
Debtors |
|
Group |
Company |
|||
|
2026 |
2025 |
2026 |
2025 |
|
|
Trade debtors |
|
|
- |
- |
|
Amounts owed by group undertakings |
- |
- |
- |
|
|
Other debtors |
|
|
- |
- |
|
Prepayments |
|
|
- |
- |
|
Corporation tax asset |
|
|
- |
- |
|
|
|
- |
|
|
Trade debtors of £2,860,403 (2025 - £1,873,315) have been pledged as collateral for the group's invoice discounting facility.
Amounts owed by group undertakings are unsecured, interest free and repayable on demand.
|
Cash and cash equivalents |
|
Group |
Company |
|||
|
2026 |
2025 |
2026 |
2025 |
|
|
Cash at bank |
|
|
|
|
Cash at bank includes an invoice discounting facility in a surplus position of £45,506 (2025 - £392,322). This facility is secured against particular trade debtors of the group as disclosed in note 15 to these financial statements.
Included in cash and cash equivalents is a fixed charge under a deed of charge dated 5 April 1993. These funds of £45,506 (2025 - £392,322) are held in connection with the group's factoring arrangement and are not freely available for general use.
|
Creditors |
|
Group |
Company |
||||
|
Note |
2026 |
2025 |
2026 |
2025 |
|
|
Amounts falling due within one year |
|||||
|
Loans and borrowings |
|
|
- |
- |
|
|
Trade creditors |
|
|
- |
- |
|
|
Amounts owed to group undertakings |
- |
- |
|
- |
|
|
Social security and other taxes |
|
|
- |
- |
|
|
Other creditors |
|
|
|
|
|
|
Accruals |
|
|
- |
- |
|
|
Deferred income |
|
|
- |
- |
|
|
|
|
|
|
||
|
Amounts falling due after one year |
|||||
|
Loans and borrowings |
|
|
- |
- |
|
Amounts owed to group undertakings are unsecured, interest free and repayable on demand.
Oxford Plastic Systems (Holdings) Limited
Notes to the Financial Statements for the Year Ended 31 March 2026
|
Loans and borrowings |
Current loans and borrowings
|
Group |
Company |
|||
|
2026 |
2025 |
2026 |
2025 |
|
|
Hire purchase contracts |
|
|
- |
- |
Non-current loans and borrowings
|
Group |
Company |
|||
|
2026 |
2025 |
2026 |
2025 |
|
|
Hire purchase contracts |
|
|
- |
- |
Obligations under finance lease and hire purchase contracts are secured on the assets to which they relate.
|
Provisions for liabilities |
Group
|
Deferred tax |
Total |
|
|
At 1 April 2025 |
|
|
|
Increase (decrease) in existing provisions |
( |
( |
|
At 31 March 2026 |
|
|
|
|
||
|
Obligations under leases and hire purchase contracts |
Group
Finance leases
The total of future minimum lease payments is as follows:
|
2026 |
2025 |
|
|
Not later than one year |
|
|
|
Later than one year and not later than five years |
|
|
|
|
|
Operating leases
The total of future minimum lease payments is as follows:
|
2026 |
2025 |
|
|
Not later than one year |
|
|
|
Later than one year and not later than five years |
|
|
|
Later than five years |
|
|
|
|
|
The amount of non-cancellable operating lease payments recognised as an expense during the year was £
Oxford Plastic Systems (Holdings) Limited
Notes to the Financial Statements for the Year Ended 31 March 2026
|
Pension and other schemes |
Defined contribution pension scheme
The group operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the group to the scheme and amounted to £106,668 (2025 - £91,890).
Contributions totalling £21,483 (2025 - £18,849) were payable to the scheme at the end of the year and are included in creditors.
|
Share capital |
Allotted, called up and fully paid shares
|
2026 |
2025 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
113 |
|
120 |
During the year, the company completed the repurchase and cancellation of 653 Ordinary shares of £0.01 each.
|
Reserves |
Group and company
Share capital
Share capital represents the issued share capital of the company.
Capital redemption reserve
The capital redemption reserve is a non-distributable reserve which represents paid up share capital.
Revaluation reserves (group only)
Represents the effect of the revaluation of freehold land and buildings which are stated at deemed cost from a previous UK GAAP valuation at 31 March 2014.
Profit and loss account
This represents the cumulative profit or losses, net of dividends paid and other adjustments.
Merger reserve (group only)
The merger reserve represents the share premium and capital redemption reserves of Oxford Plastic Systems Limited which existed at the date of the group reorganisation.
Oxford Plastic Systems (Holdings) Limited
Notes to the Financial Statements for the Year Ended 31 March 2026
|
Share-based payments |
Scheme details and movements
The exercise price is £0.01 per option and is deemed to be consistent with the fair value at the grant date of the option. The directors have appropriately assessed the fair value and deem the adjustment to be immaterial in respect of the share-based payments. Therefore, no charge has been processed in the financial statements.
The movements in the number of share options during the year were as follows:
|
2026 |
2025 |
|
|
Outstanding, start of year |
|
|
|
Forfeited during the year |
( |
- |
|
Outstanding, end of year |
|
|
|
|
||
|
Related party transactions |
Transactions with key management
The total remuneration for those considered to be key management personnel of the group was £1,625,586 (2025 - £676,859). Key management personnel are directors and senior management involved in directing the operations of the business.
Transactions with directors
During the year rent of £130,000 (2025 - £130,000) was paid to a director of the group, in respect of the rental of the business premises.
During the year the directors of the group were advanced £603,572 (2025 - £89,273) in the form of a directors loan. The maximum amount owed in the year was £606,631 (2025 - £126,674) and the balance outstanding at the year end was £606,631 (2025 - £89,273). No interest has been charged on the loan during the year. the loan account has been settled in full since the year end.
|
Financial instruments |
Group
Items of income, expense, gains or losses
|
2026 |
Income |
Expense |
Net gains |
Net losses |
|
Financial liabilities measured at amortised cost |
- |
- |
- |
- |
|
2025 |
Income |
Expense |
Net gains |
Net losses |
|
Financial liabilities measured at amortised cost |
- |
8,558 |
- |
- |
The total interest income for financial assets not measured at fair value through profit or loss is £37,327 (2025 - £1,173). The total interest expense for financial liabilities not measured at fair value through profit or loss is £20,936 (2025 - £73,972).
Oxford Plastic Systems (Holdings) Limited
Notes to the Financial Statements for the Year Ended 31 March 2026
|
Analysis of net debt |
|
At 1 April 2025 |
Cash flow |
Non-cash changes |
At 31 March 2026 |
|
|
£ |
£ |
£ |
£ |
|
|
Cash at bank and in hand |
1,950,686 |
2,461,808 |
(4,500) |
4,407,994 |
|
Finance lease and hire purchase contracts |
(430,221) |
197,376 |
- |
(232,845) |
|
Net debt |
1,520,465 |
2,659,184 |
(4,500) |
4,175,149 |
Non-cash changes relate to the purchase of property, plant and equipment on hire purchase and finance lease contracts and foreign exchange gains on cash held by subsidiary undertakings.
|
Parent and ultimate parent undertaking |
The group is controlled by C J Whiteley, a director of the group.