Company Registration No. 03136154 (England and Wales)
Vogue Plastics Machinery Limited
Unaudited accounts
for the year ended 31 December 2018
Vogue Plastics Machinery Limited
Unaudited accounts
Contents
Vogue Plastics Machinery Limited
Company Information
for the year ended 31 December 2018
Directors
J M Salem
J R Salem
Company Number
03136154 (England and Wales)
Registered Office
Primary House
Spring Gardens
Macclesfield
Cheshire
SK10 2DX
Accountants
Taylor Consultancy, Chartered Certified Accountants
Primary House
Spring Gardens
Macclesfield
Cheshire
SK10 2DX
Vogue Plastics Machinery Limited
Statement of financial position
as at 31 December 2018
Tangible assets
13,235
16,544
Inventories
326,325
315,000
Cash at bank and in hand
18,975
11,266
Creditors: amounts falling due within one year
(1,023,414)
(491,132)
Net current (liabilities)/assets
(222,736)
106,492
Total assets less current liabilities
(209,501)
123,036
Creditors: amounts falling due after more than one year
(189,082)
(469,567)
Provisions for liabilities
Deferred tax
(2,515)
(3,144)
Net liabilities
(401,098)
(349,675)
Called up share capital
100
100
Profit and loss account
(401,198)
(349,775)
Shareholders' funds
(401,098)
(349,675)
For the year ending 31 December 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 23 September 2019.
J M Salem
Director
Company Registration No. 03136154
Vogue Plastics Machinery Limited
Notes to the Accounts
for the year ended 31 December 2018
Vogue Plastics Machinery Limited is a private company, limited by shares, registered in England and Wales, registration number 03136154. The registered office is Primary House, Spring Gardens, Macclesfield, Cheshire, SK10 2DX.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
10% per annum on cost
Plant & machinery
20% per annum on a reducing balance basis
Fixtures & fittings
20% per annum on a reducing balance basis
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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 accounts. 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 company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Vogue Plastics Machinery Limited
Notes to the Accounts
for the year ended 31 December 2018
4
Tangible fixed assets
Land & buildings
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 January 2018
4,157
67,161
17,833
89,151
At 31 December 2018
4,157
67,161
17,833
89,151
At 1 January 2018
4,157
51,925
16,525
72,607
Charge for the year
-
3,047
262
3,309
At 31 December 2018
4,157
54,972
16,787
75,916
At 31 December 2018
-
12,189
1,046
13,235
At 31 December 2017
-
15,236
1,308
16,544
Finished goods
326,325
315,000
Trade debtors
442,723
167,290
Amounts due from group undertakings etc.
-
11,787
Accrued income and prepayments
6,604
6,604
Other debtors
6,051
85,677
7
Creditors: amounts falling due within one year
2018
2017
Bank loans and overdrafts
444,419
298,217
Obligations under finance leases and hire purchase contracts
161,122
97,837
Trade creditors
220,723
74,731
Amounts owed to group undertakings and other participating interests
491
-
Taxes and social security
10,390
14,827
Other creditors
27,560
1,073
Loans from directors
150,703
-
Vogue Plastics Machinery Limited
Notes to the Accounts
for the year ended 31 December 2018
8
Creditors: amounts falling due after more than one year
2018
2017
Obligations under finance leases and hire purchase contracts
107,082
410,567
Other creditors
82,000
59,000
Liabilities under hire purchase agreements are secured on the assets to which they relate
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
10
Transactions with related parties
The company is under the 100% ownership of Plastics Limited, during the year the company paid Plastics Limited a dividend of £60,000 (2017 - £60,000) and at the balance sheet date the company owed £491 to Plastics Limited (2017 - (£11,787))
The loan is repayable upon demand and subject to interest at a commercial rate
The company is 100% owned by Plastics Limited, a company registered in England and Wales
Registered office of Plastics Limited - Primary House, Spring Gardens, Macclesfield, Cheshire SK10 2DX
12
Average number of employees
During the year the average number of employees was 2 (2017: 2).
