SW Plastics Ltd - Limited company - abbreviated

REGISTERED NUMBER: 01985204 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 30TH JUNE 2014

FOR

SW PLASTICS LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

B J McAllister

J B McAllister

M Crow

REGISTERED OFFICE:

The Foundry

9 Park Lane

Puckeridge

Ware

Hertfordshire

SG11 1RL

REGISTERED NUMBER:

01985204 (England and Wales)

ACCOUNTANTS:

Janelle Lankester

Chartered Accountants

The Foundry

9 Park Lane

Puckeridge

Ware

Hertfordshire

SG11 1RL

FIXED ASSETS

Tangible assets

2

646,151

547,533

CURRENT ASSETS

Stocks

106,316

141,589

Debtors

536,722

431,859

Cash at bank and in hand

6,256

4,069

649,294

577,517

CREDITORS

Amounts falling due within one year

291,214

212,283

NET CURRENT ASSETS

358,080

365,234

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,004,231

912,767

CREDITORS

Amounts falling due after more than one
year

(392,089

)

(355,473

)

PROVISIONS FOR LIABILITIES

(73,050

)

(56,882

)

NET ASSETS

539,092

500,412

CAPITAL AND RESERVES

Called up share capital

3

100

Share premium

8,274

Profit and loss account

530,718

492,038

SHAREHOLDERS' FUNDS

539,092

500,412

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 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 9th March 2015 and were signed on its behalf by:

J B McAllister - 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).

Turnover

Turnover represents net invoiced sales of goods, 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

in accordance with the property

Plant and machinery

-

10% straight line on Cost less Residual

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33% on cost

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

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 1st July 2013

1,385,473

Additions

178,247

At 30th June 2014

1,563,720

DEPRECIATION

At 1st July 2013

837,940

Charge for year

79,629

At 30th June 2014

917,569

NET BOOK VALUE

At 30th June 2014

646,151

At 30th June 2013

547,533

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.14

30.6.13

value:

£

100

Ordinary

£1

100

4.	ULTIMATE PARENT COMPANY

The directors consider the ultimate parent company to be AFT Fluorotec Limited, a company incorporated in

England & Wales.

SW Plastics Ltd - Limited company - abbreviated - 11.6

SW Plastics Ltd - Limited company - abbreviated - 11.6