Q Plastics Ltd

Contents

Statement of Financial Position	1
Notes to the Unaudited Financial Statements	2 to 7

Q Plastics Ltd

(Registration number: 15512357)
Statement of Financial Position as at 30 June 2026

	Note	2026 £	2025 £
Fixed assets
Tangible assets	4	1,834	1,714
Current assets
Stocks	5	31,152	24,183
Debtors	6	171,451	296,060
Cash at bank and in hand		216,259	18,677
		418,862	338,920
Creditors: Amounts falling due within one year	7	(229,847)	(257,231)
Net current assets		189,015	81,689
Total assets less current liabilities		190,849	83,403
Provisions for liabilities		(445)	(326)
Net assets		190,404	83,077
Capital and reserves
Called up share capital		100	100
Profit and loss account		190,304	82,977
Shareholders' funds		190,404	83,077

For the financial year ending 30 June 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

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

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

Approved and authorised by the director on 9 October 2026
 

Mr J A Goozee Director

Q Plastics Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2026

1	General information

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

The address of its registered office is:
Petitor House
Nicholson Road
Torquay
Devon
TQ2 7TD

Principal activity

The principal activity of the company is that of the wholesale of other intermediate products.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

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

Basis of preparation

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

The financial statements are prepared in sterling which is the functional currency of the entity.

Q Plastics Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2026 (continued)

2	Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

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

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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
Fixtures and fittings	25% reducing balance
Office equipment	25% straight line

Q Plastics Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2026 (continued)

2	Accounting policies (continued)

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, 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. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition. .

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.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Q Plastics Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2026 (continued)

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2025 - 1).

Q Plastics Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2026 (continued)

4	Tangible assets

	Fixtures and fittings £	Office equipment £	Total £
Cost or valuation
At 1 July 2025	1,625	854	2,479
Additions	-	823	823
At 30 June 2026	1,625	1,677	3,302
Depreciation
At 1 July 2025	492	273	765
Charge for the year	283	420	703
At 30 June 2026	775	693	1,468
Carrying amount
At 30 June 2026	850	984	1,834
At 30 June 2025	1,133	581	1,714

5

Stocks

	2026 £	2025 £
Finished goods and goods for resale	31,152	24,183

6

Debtors

	Note	2026 £	2025 £
Trade debtors		167,988	204,908
Amounts owed by related parties	9	-	80,645
Other debtors		350	10,507
Prepayments		3,113	-
		171,451	296,060

Q Plastics Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2026 (continued)

7

Creditors

Creditors: amounts falling due within one year

	Note	2026 £	2025 £
Due within one year
Trade creditors		17,145	180,563
Amounts owed to group undertakings and undertakings in which the company has a participating interest	9	21,868	-
Taxation and social security		165,509	28,143
Accruals and deferred income		19,715	5,338
Other creditors		5,610	43,187
		229,847	257,231

8

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

9	Related party transactions

Transactions with the director

2026	At 1 July 2025 £	Repayments by director £	At 30 June 2026 £
Director	(5,327)	(283)	(5,610)

2025	At 1 October 2024 £	Advances to director £	At 30 June 2025 £
Director	(5,609)	282	(5,327)