Graham Roberts Plastics Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00956783 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31st December 2020

for

GRAHAM ROBERTS PLASTICS LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

Mrs P J Reddicliffe

K Pilcher

SECRETARY:

Mrs P J Reddicliffe

REGISTERED OFFICE:

13 Queensway

Stem Lane Industrial Estate

New Milton

Hampshire

BH25 5NU

REGISTERED NUMBER:

00956783 (England and Wales)

ACCOUNTANTS:

Simpson Wreford & Partners

Chartered Accountants

Suffolk House

George Street

Croydon

Surrey

CR0 0YN

FIXED ASSETS

Property, plant and equipment

4

286

382

CURRENT ASSETS

Inventories

235,263

198,534

Debtors

5

295,183

273,902

Cash at bank and in hand

136,500

41,664

666,946

514,100

CREDITORS

Amounts falling due within one year

6

180,438

102,667

NET CURRENT ASSETS

486,508

411,433

TOTAL ASSETS LESS CURRENT LIABILITIES

486,794

411,815

CREDITORS

Amounts falling due after more than one year

7

418,760

418,760

NET ASSETS/(LIABILITIES)

68,034

(6,945

)

CAPITAL AND RESERVES

Called up share capital

30,000

30,000

Retained earnings

38,034

(36,945

)

68,034

(6,945

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2020 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 and authorised for issue on 23rd December 2021 and were signed on its behalf by:

Mrs P J Reddicliffe - Director

1.	STATUTORY INFORMATION

Graham Roberts Plastics 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

Revenue 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

-

20% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Tangible fixed assets under the cost model are stated at the historical cost less accumulated depreciation. 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.

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the statement of comprehensive income.

Stocks

Inventories 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 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.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

Creditors

Short term creditors are measured at the transaction price.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2019 - 5 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1st January 2020

and 31st December 2020

16,251

6,668

32,832

24,700

80,451

DEPRECIATION

At 1st January 2020

16,251

6,668

32,450

24,700

80,069

Charge for year

-

-

96

-

96

At 31st December 2020

16,251

6,668

32,546

24,700

80,165

NET BOOK VALUE

At 31st December 2020

-

-

286

-

286

At 31st December 2019

-

-

382

-

382

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Trade debtors

254,736

228,549

Prepayments

40,447

45,353

295,183

273,902

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Trade creditors

112,271

73,595

Social security and other taxes

8,218

3,450

VAT

29,267

9,914

Other creditors

17,753

4,780

Accrued expenses

12,929

10,928

180,438

102,667

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.20

31.12.19

£

£

Other creditors

418,760

418,760

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.20

31.12.19

£

£

Within one year

3,485

9,802

Between one and five years

-

6,485

3,485

16,287

9.	RELATED PARTY DISCLOSURES

At the year end, £418,760 (2019 - £418,760) was owed to an entity under common control. This amount is unsecured, interest free and is not expected to be repaid for more than 12 months from the balance sheet date.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Graham Roberts Plastics Limited for the year ended 31st December 2020 which comprise the Income Statement, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Graham Roberts Plastics Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Graham Roberts Plastics Limited and state those matters that we have agreed to state to the Board of Directors of Graham Roberts Plastics Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Graham Roberts Plastics Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Graham Roberts Plastics Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Graham Roberts Plastics Limited. You consider that Graham Roberts Plastics Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Graham Roberts Plastics Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Simpson Wreford & Partners

Chartered Accountants

Suffolk House

George Street

Croydon

Surrey

CR0 0YN

23rd December 2021