Plastic Data Card Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02718999 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2019

FOR

PLASTIC DATA CARD LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

Mr J A Kitchingman

Mr J O' Carroll

Mr J H Thompson

SECRETARY:

Mr J H Thompson

REGISTERED OFFICE:

Unit 1 Dajen Business Park

Second Avenue

Chatham

Kent

ME4 5AU

REGISTERED NUMBER:

02718999 (England and Wales)

ACCOUNTANTS:

AGK Partners

Chartered Accountants

1 Kings Avenue

London

N21 3NA

FIXED ASSETS

Property, plant and equipment

4

85,462

103,269

CURRENT ASSETS

Inventories

48,907

43,678

Debtors

5

150,377

110,723

Cash at bank

25,880

46,471

225,164

200,872

CREDITORS

Amounts falling due within one year

6

109,854

78,682

NET CURRENT ASSETS

115,310

122,190

TOTAL ASSETS LESS CURRENT LIABILITIES

200,772

225,459

PROVISIONS FOR LIABILITIES

8

4,668

5,511

NET ASSETS

196,104

219,948

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

196,004

219,848

196,104

219,948

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2019 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 financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 6 February 2020 and were signed on its behalf by:

Mr J O' Carroll - Director

1.	STATUTORY INFORMATION

Plastic Data Card Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

In the application of the company's accounting policies, the director is required to make judgements, estimates

and assumptions about the carrying amount 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 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 where the revision affects only that period

or in the period of the revision and future periods where the revision affects both current and future periods.

There are no significant judgements or estimates involved in the preparation of the financial statements.

Revenue

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods

have passed to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it

is probable that the economic benefits associated with the transaction will flow to the entity and costs incurred or

to be incurred in respect of the transaction can be measured reliably.

Property, plant and equipment

Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment

losses. Such cost includes costs directly attributable to making the assets capable of operating as intended.

The carrying value of tangible assets are reviewed for impairment when events or changes in circumstances

indicate the carrying value may not be recoverable.

Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets less their estimated

residual value over their expected useful lives, on the following basis:

Plant and machinery 15% on reducing balance

Inventories

Inventories are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is

determined using the first in first out method. The carrying amount of inventory sold is recognised as an expense

in the period in which the related revenue is recognised.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the statement of financial position date.

Deferred tax

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

statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws

that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal

of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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 profit or loss in the period to which they relate.

Cash and cash equivalents

Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term

deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid

investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of

changes in value.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible

preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in =

profit or loss.

Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised

in profit and loss.

Invoice discounting debts

The company has all of its sales invoices subjected to invoice discounting. The company's invoice discounting

arrangements can neither be called as derecognition nor linked presentation. Hence a separate presentation

has been adopted whereby gross debts are shown as an asset on the balance sheet and proceeds from the

invoice discounting facility are included within creditors as a liability.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2018 - 11 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Plant and

machinery

£

COST

At 1 July 2018

and 30 June 2019

678,008

DEPRECIATION

At 1 July 2018

574,739

Charge for year

17,807

At 30 June 2019

592,546

NET BOOK VALUE

At 30 June 2019

85,462

At 30 June 2018

103,269

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

124,999

12,779

Other debtors

25,378

97,944

150,377

110,723

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

42,795

43,048

Taxation and social security

27,505

31,834

Other creditors

39,554

3,800

109,854

78,682

7.	SECURED DEBTS

The following secured debts are included within creditors:

2019

2018

£

£

Other loans

21,591

-

The loan is secured by way of fixed and floating charge over the assets of the company and contains a negative

pledge.

8.	PROVISIONS FOR LIABILITIES

2019

2018

£

£

Deferred tax

Accelerated capital allowances

4,668

5,511

Deferred

tax

£

Balance at 1 July 2018

5,511

Provided during year

(843

)

Balance at 30 June 2019

4,668