Prestige Plastics Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 04260145 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 July 2014

for

Prestige Plastics Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mr S Geranio

Mr K A Hanger

Mr S A Taylor

Mr M I Todd

SECRETARY:

Mr K A Hanger

REGISTERED OFFICE:

63 Broad Green

Wellingborough

Northamptonshire

NN8 4LQ

REGISTERED NUMBER:

04260145 (England and Wales)

ACCOUNTANTS:

Clifford Roberts

63 Broad Green

Wellingborough

Northamptonshire

NN8 4LQ

FIXED ASSETS

Tangible assets

2

403,700

321,338

CURRENT ASSETS

Stocks

119,513

83,267

Debtors

353,262

420,146

Cash at bank and in hand

405,334

409,088

878,109

912,501

CREDITORS

Amounts falling due within one year

3

380,566

275,613

NET CURRENT ASSETS

497,543

636,888

TOTAL ASSETS LESS CURRENT LIABILITIES

901,243

958,226

CREDITORS

Amounts falling due after more than one year

3

92,609

114,259

NET ASSETS

808,634

843,967

CAPITAL AND RESERVES

Called up share capital

4

4

4

Profit and loss account

808,630

843,963

SHAREHOLDERS' FUNDS

808,634

843,967

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2014 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 20 February 2015 and were signed on its behalf by:

Mr S A Taylor - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance

with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Revenue

Turnover represents net invoices sale of goods and services, excluding value added tax.

Tangible fixed assets

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

Freehold property

-

4% on cost

Plant and machinery

-

20% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

20% 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis

over the period of the lease.

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 the profit and loss account in the period to which they

relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 August 2013

635,496

Additions

167,995

At 31 July 2014

803,491

DEPRECIATION

At 1 August 2013

314,158

Charge for year

85,633

At 31 July 2014

399,791

NET BOOK VALUE

At 31 July 2014

403,700

At 31 July 2013

321,338

3.

CREDITORS

Creditors include an amount of £ 112,609 (2013 - £ 134,259 ) for which security has been given.

They also include the following debts falling due in more than five years:

2014

2013

£

£

Repayable by instalments

12,609

34,259

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

4

Ordinary

£1

4

4

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included in creditors amounts falling due within one year are loans from the directors, Mr S Geranio

£nil (2013 - £9,000), Mr K A Hanger £nil (2013 - £9,000), Mr S A Taylor £90 (2013 - £9,000) and Mr M I

Todd £nil (2013 - £9,000). These loans are interest free, unsecured and repayable on demand.

During the year the directors each received a dividend of £25,000