PMG (Plastronic) Limited - Accounts

PMG (Plastronic) Limited - Accounts

PMG (PLASTRONIC) LIMITED - Company Information

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Registered Number: 03580148
England and Wales

 

 

 


Abridged Accounts

for the year ended 31 December 2019

for

PMG (PLASTRONIC) LIMITED

PMG (Plastronic) Limited
Contents Page
For the year ended 31 December 2019
 
 		 Notes
 		 2019
£		   2018
£
Fixed assets      
Tangible fixed assets 2 6,364    8,485 
6,364    8,485 
Current assets      
Stocks 430,819    443,296 
Debtors: amounts falling due within one year 147,518    176,905 
Cash at bank and in hand 200,113    238,246 
778,450    858,447 
Creditors: amount falling due within one year (356,830)   (320,408)
Net current assets 421,620    538,039 
 
Total assets less current liabilities 427,984    546,524 
Creditors: amount falling due after more than one year (204,206)   (285,718)
Net assets 223,778    260,806 
 

Capital and reserves 		     
Called up share capital 3 45    42 
Reserves (16,821)   (16,821)
Profit and loss account 240,554    277,585 
Shareholders funds 223,778    260,806 
 


For the year ended 31 December 2019 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.

Directors' Responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with Section 476
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 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 Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 21 April 2020 and were signed on its behalf by:


--------------------------------
Teena Ackary
Director
1
General Information
PMG (Plastronic) Limited is a private company, limited by shares, registered in England and Wales, registration number 03580148, registration address Grosvenor House Practice , Avening, Priory Park, London Road, Tetbury, Gloucestershire, GL8 8HZ.
1.

Accounting Policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. 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 25% Reducing Balance
Stocks
Stocks 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 costs and an appropriate proportion of fixed and variable overheads.
2.

Tangible fixed assets

Cost Plant and Machinery   Total
  £   £
At 01 January 2019 115,790    115,790 
Additions -    - 
Disposals -    - 
At 31 December 2019 115,790    115,790 
Depreciation
At 01 January 2019 109,426    109,426 
Charge for year -    - 
On disposals -    - 
At 31 December 2019 109,426    109,426 
Net book values
Closing balance as at 31 December 2019 6,364    6,364 
Opening balance as at 01 January 2019 8,485    8,485 


3.

Share Capital

Allotted
2019
£		   2018
£
38 Ordinary shares of £1.00 each 38    38 
1 Ordinary C shares of £1.00 each 1    1 
2 Ordinary D shares of £1.00 each 2    2 
1 Ordinary E shares of £1.00 each 1    1 
1 Ordinary F shares of £1.00 each 1    - 
1 Ordinary G shares of £1.00 each 1    - 
1 Ordinary H shares of £1.00 each 1    - 
45    42 

2