Arnold Engineering Plastics Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01082972 (England and Wales)

Financial Statements for the Year Ended 31 March 2021

for

Arnold Engineering Plastics Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

P J Larkins

J McKeown

REGISTERED OFFICE:

2 Regal Close

Kings Park Road

Moulton Park

Northampton

Northamptonshire

NN3 6LL

REGISTERED NUMBER:

01082972 (England and Wales)

ACCOUNTANTS:

CED Accountancy Services Limited

Chartered Accountants

1 Lucas Bridge Business Park

Old Greens Norton Road

Towcester

Northamptonshire

NN12 8AX

SOLICITORS:

Max Engel

8 Hazelwood Road

Northampton

NN1 1LP

FIXED ASSETS

Tangible assets

4

1,453,472

1,342,818

Investments

5

138,737

138,737

1,592,209

1,481,555

CURRENT ASSETS

Stocks

79,529

151,038

Debtors

378,730

431,146

Cash at bank and in hand

1,260,173

576,164

1,718,432

1,158,348

CREDITORS

Amounts falling due within one year

617,703

519,065

NET CURRENT ASSETS

1,100,729

639,283

TOTAL ASSETS LESS CURRENT LIABILITIES

2,692,938

2,120,838

CREDITORS

Amounts falling due after more than one year

(130,666

)

(129,568

)

PROVISIONS FOR LIABILITIES

(256,423

)

(224,931

)

NET ASSETS

2,305,849

1,766,339

CAPITAL AND RESERVES

Called up share capital

44,000

44,000

Retained earnings

2,261,849

1,722,339

SHAREHOLDERS' FUNDS

2,305,849

1,766,339

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 Balance Sheet for the year ended 31 March 2021 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 17 June 2021 and were signed on its behalf by:

P J Larkins - Director

1.	STATUTORY INFORMATION

Arnold Engineering 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

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

-

10% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

33% on cost

Investments in associates

Investments in associate undertakings are recognised at cost.

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 Statement of Income and Retained Earnings, 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 44 (2020 - 45 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2020

3,546,881

Additions

310,274

Disposals

(130,000

)

At 31 March 2021

3,727,155

DEPRECIATION

At 1 April 2020

2,204,063

Charge for year

172,120

Eliminated on disposal

(102,500

)

At 31 March 2021

2,273,683

NET BOOK VALUE

At 31 March 2021

1,453,472

At 31 March 2020

1,342,818

The net book value of assets held under hire purchase contracts at the year end was £338,163 (2020 - £404,725).

5.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1 April 2020

and 31 March 2021

138,737

NET BOOK VALUE

At 31 March 2021

138,737

At 31 March 2020

138,737

6.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.21

31.3.20

£

£

Hire purchase contracts

193,496

228,604

7.	RELATED PARTY DISCLOSURES

The company leases freehold premises from the AEP Pension Fund, a defined contribution pension scheme providing retirement benefits to the managing director and his dependants. The amount paid during the year was £125,000.

8.	ULTIMATE CONTROLLING PARTY

Mr P J Larkins is the ultimate controlling party of Arnold Engineering Plastics Limited.

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 Balance Sheet. Readers are cautioned that the Income Statement 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 Arnold Engineering Plastics Limited for the year ended 31 March 2021 which comprise the Statement of Income and Retained Earnings, Abridged Balance Sheet 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 Arnold Engineering 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 Arnold Engineering Plastics Limited and state those matters that we have agreed to state to the Board of Directors of Arnold Engineering 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 Arnold Engineering Plastics Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Arnold Engineering 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 Arnold Engineering Plastics Limited. You consider that Arnold Engineering 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 Arnold Engineering 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.

CED Accountancy Services Limited

Chartered Accountants

1 Lucas Bridge Business Park

Old Greens Norton Road

Towcester

Northamptonshire

NN12 8AX

17 June 2021