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Registered number: 01128843
3 D ALUMINIUM PLAS LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 MARCH 2022
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3 D ALUMINIUM PLAS LIMITED
REGISTERED NUMBER: 01128843
BALANCE SHEET
AS AT 31 MARCH 2022
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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Provisions for liabilities
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The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
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3 D ALUMINIUM PLAS LIMITED
REGISTERED NUMBER: 01128843
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2022
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 5 to 15 form part of these financial statements.
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3 D ALUMINIUM PLAS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2022
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Comprehensive income for the year
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The notes on pages 5 to 15 form part of these financial statements.
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Page 3
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3 D ALUMINIUM PLAS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2021
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Comprehensive income for the year
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The notes on pages 5 to 15 form part of these financial statements.
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Page 4
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3 D ALUMINIUM PLAS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
3 D Aluminium Plas Limited is a private company limited by shares, incorporated in the United Kingdom and registered in England and Wales with company number 01128843. The registered office is 3 Horace House, Oakfield Industrial Estate, Eynsham, Oxfordshire, OX29 4TX.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.
The financial statements are rounded to the nearest pound Sterling, the functional and presentational currency of the Company.
The following principal accounting policies have been applied:
The financial statements have been prepared on a going concern basis which assumes the Company will have sufficient funds to continue to pay its debts as and when they fall due and thus continue to trade. After making enquiries, the Directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future based on its forecasts and projections. In making their assessment, the Directors have considered a period of at least 12 months from the date of signing these financial statements.
Turnover comprises revenue and is recognised by the Company when the risks and rewards associated with the goods and services have been transferred to the purchaser. These occur when all the following conditions are met: evidence of a binding agreement exists (generally, signed contracts), products have been delivered or services have been rendered, there is no future performance required and amounts are collectable under normal payment terms. Retentions are recognised when the 'Defect Period' has expired and upon receipt of a certificate of 'Practical Completion' in accordance with contract terms.
Turnover represents the net amounts charged or chargeable in respect of services rendered and goods supplied, excluding value added tax and discounts given to the customer. Turnover on longterm contracts is recognised as the value of measured works, claims and variations on contracts in the year, based on the stage of completion. Claims and variations are only recognised where they have been agreed with the customer. Where it is foreseen that a loss will arise to the Company on a long-term contract, full provision is made for that loss during the year.
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3 D ALUMINIUM PLAS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
2.Accounting policies (continued)
The company has taken advantage of the optional exemption provided by section 35.10 (d) of FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and elected to use a fair value of freehold land and buildings as its deemed cost on the date of transition to FRS 102 being 1 April 2014.
The assessed fair value is based on a professional valuation undertaken on 9 December 2013 by DTZ Debenham Tie Leung Limited in accordance with the valuation standards of the Royal Institution of Chartered Surveyors.
The Directors have estimated the useful economic life of the buildings to be 50 years from the transition date of 1 April 2014.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Comprehensive Income.
Investments in subsidiaries are measured at cost less accumulated impairment.
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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3 D ALUMINIUM PLAS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
2.Accounting policies (continued)
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Where the Company enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease. The asset is recorded in the Balance Sheet as a tangible fixed asset and is depreciated in accordance with the above depreciation policies. Future instalments under such leases, net of finance charges, are included with creditors. Rentals payable are apportioned between the finance element, which is charged to the Statement of Comprehensive Income on a straight line basis, and the capital element which reduces the outstanding obligation for future instalments.
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Leased assets: the Company as lessee
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Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
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3 D ALUMINIUM PLAS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
2.Accounting policies (continued)
Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.
Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.
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Provisions for liabilities
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Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance Sheet.
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3 D ALUMINIUM PLAS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
2.Accounting policies (continued)
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Current and deferred taxation
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The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
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The average monthly number of employees, including Directors, during the year was 29 (2021: 29).
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Page 9
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3 D ALUMINIUM PLAS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
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Charge for the year on owned assets
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Investments in subsidiary companies
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Work in progress (goods to be sold)
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Page 10
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3 D ALUMINIUM PLAS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
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Amounts owed by group undertakings
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Amounts owed by group undertakings are unsecured, non-interest bearing and repayable on demand.
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Cash and cash equivalents
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Creditors: Amounts falling due within one year
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Other taxation and social security
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Obligations under finance lease and hire purchase contracts
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Accruals and deferred income
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The Company has an agreement dated 27 August 2003 with The Royal Bank of Scotland which holds a debenture charge over all current and future fixed and floating assets of the Company.
The Royal Bank of Scotland also has a legal charge dated 27 August 2003 over the Company's premises in Stanton Harcourt Road, Eynsham.
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Page 11
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3 D ALUMINIUM PLAS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
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Creditors: Amounts falling due after more than one year
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Net obligations under finance leases and hire purchase contracts
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See note 15 for details of securities.
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Analysis of the maturity of loans is given below:
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Amounts falling due within one year
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Amounts falling due 1-2 years
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Amounts falling due 2-5 years
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Amounts falling due after more than 5 years
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Page 12
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3 D ALUMINIUM PLAS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
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Hire purchase and finance leases
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Minimum lease payments under hire purchase fall due as follows:
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Charged to profit or loss
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The provision for deferred taxation is made up as follows:
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Fixed asset timing differences
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Short term timing differences
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Charged to profit or loss
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The Company provides for warranties on its sales to customers. Warranties are charged based on the Directors' estimations of costs to be incurred and are released in line with the warranty services undertaken.
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Page 13
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3 D ALUMINIUM PLAS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
Revaluation reserve
This reserve represents the revaluation gain on freehold land and buildings less the annual transfers to the profit and loss reserve for the additional depreciation charged on the revalued amount (now deemed cost) in comparison to the historical cost depreciation charge, as adjusted for any movement in deferred taxation thereon.
Profit and loss account
This reserve includes all current and prior period retained profits and losses.
The Company is party to a group overdraft facility which is secured by a debenture on the assets of the
Group. The total overdraft at 31 March 2022 was £nil (2021: £nil).
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At 31 March 2022 the Company had capital commitments as follows:
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Contracted for but not provided in these financial statements
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The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £10,877 (2021: £9,441). Contributions of £6,024 (2021: £4,367) were payable to the fund at the balance sheet date.
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Commitments under operating leases
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At 31 March 2022 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
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Later than 1 year and not later than 5 years
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Related party transactions
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The Company has taken advantage of the disclosure exemption available under FRS 102 Section 33.1A not to disclose transactions entered into between 100% owned group companies.
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Page 14
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3 D ALUMINIUM PLAS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
The Company's immediate parent company is Eynsham Group Limited , a company registered in England and Wales. The ultimate parent company is Eynsham Fenestration Holdings Limited.
Copies of the accounts for Eynsham Fenestration Holdings Limited can be obtained from the Registrar of Companies, Companies House, Crown Way, Cardiff, CF14 3UZ.
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