PMG (Plastronic) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03580148 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2021

for

PMG (Plastronic) Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

T Ackary

B E Hayton

J Miller

SECRETARY:

T Ackary

REGISTERED OFFICE:

Grosvenor House Practice

Avening, Priory Park, London Road

Tetbury

GL8 8HZ

REGISTERED NUMBER:

03580148 (England and Wales)

ACCOUNTANTS:

Grosvenor House Practice Limited

Avening

Priory Park

Tetbury

Gloucestershire

GL8 8HZ

FIXED ASSETS

Tangible assets

4

7,748

4,774

CURRENT ASSETS

Stocks

366,558

310,109

Debtors

317,740

222,055

Cash at bank

119,323

206,778

803,621

738,942

CREDITORS

Amounts falling due within one year

431,511

371,291

NET CURRENT ASSETS

372,110

367,651

TOTAL ASSETS LESS CURRENT LIABILITIES

379,858

372,425

CREDITORS

Amounts falling due after more than one year

137,164

168,917

NET ASSETS

242,694

203,508

CAPITAL AND RESERVES

Called up share capital

49

49

Capital redemption reserve

(16,821

)

(16,821

)

Retained earnings

259,466

220,280

242,694

203,508

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2021 in accordance with Section 444(2A) of the Companies Act 2006.

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 and authorised for issue on 15 May 2022 and were signed on its behalf by:

T Ackary - Director

1.	STATUTORY INFORMATION

PMG (Plastronic) 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.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Plant and machinery etc

-

25% on 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.

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 balance sheet date.

Deferred tax

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

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss 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 profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2020 - 12 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2021

115,791

Additions

5,557

At 31 December 2021

121,348

DEPRECIATION

At 1 January 2021

111,017

Charge for year

2,583

At 31 December 2021

113,600

NET BOOK VALUE

At 31 December 2021

7,748

At 31 December 2020

4,774