PLAS'TECH TOOLING & MOULDING LIMITED - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 04190732 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2023

for

PLAS'TECH TOOLING & MOULDING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

D Richardson

SECRETARY:

Mrs V Richardson

REGISTERED OFFICE:

Suite 6, 141/143 South Road

Haywards Heath

West Sussex

RH16 4LY

REGISTERED NUMBER:

04190732 (England and Wales)

ACCOUNTANTS:

Bentleys Accounting Limited

Suite 6, 141/143 South Road

Haywards Heath

West Sussex

RH16 4LY

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

398,941

294,141

398,941

294,141

CURRENT ASSETS

Stocks

236,998

223,474

Debtors

6

440,845

642,007

677,843

865,481

CREDITORS

Amounts falling due within one year

7

508,409

509,816

NET CURRENT ASSETS

169,434

355,665

TOTAL ASSETS LESS CURRENT LIABILITIES

568,375

649,806

CREDITORS

Amounts falling due after more than one year

8

(188,457

)

(270,228

)

PROVISIONS FOR LIABILITIES

(42,929

)

(48,474

)

NET ASSETS

336,989

331,104

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

336,889

331,004

SHAREHOLDERS' FUNDS

336,989

331,104

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 22 June 2023 and were signed by:

D Richardson - Director

1.	STATUTORY INFORMATION

PLAS'TECH TOOLING & MOULDING 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2001, is being amortised evenly over its estimated useful life of fifty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Short leasehold

-

in accordance with the property

Plant and machinery

-

20% 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 18 (2022 - 16 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2022

and 31 March 2023

215,000

AMORTISATION

At 1 April 2022

and 31 March 2023

215,000

NET BOOK VALUE

At 31 March 2023

-

At 31 March 2022

-

5.	TANGIBLE FIXED ASSETS

Short

Plant and

leasehold

machinery

Totals

£

£

£

COST

At 1 April 2022

59,104

758,820

817,924

Additions

-

158,316

158,316

At 31 March 2023

59,104

917,136

976,240

DEPRECIATION

At 1 April 2022

29,483

494,300

523,783

Charge for year

612

52,904

53,516

At 31 March 2023

30,095

547,204

577,299

NET BOOK VALUE

At 31 March 2023

29,009

369,932

398,941

At 31 March 2022

29,621

264,520

294,141

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Trade debtors

362,364

485,790

Other debtors

9,967

9,835

R&D Claim

38,857

121,590

Prepayments

29,657

24,792

440,845

642,007

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Bank loans and overdrafts

129,258

201,323

Other loans under 1 year

69,689

69,689

Hire purchase contracts

35,096

17,548

Trade creditors

118,488

126,732

Social security and other taxes

155,878

87,225

Other creditors

-

7,299

508,409

509,816

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.23

31.3.22

£

£

Bank loans - 2-5 years

19,541

30,190

Other loans - 2-5 Years

93,661

201,659

Hire purchase contracts

75,255

38,379

188,457

270,228