Plasticraft Displays (Huddersfield) Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 00447962 (England and Wales)

Unaudited Financial Statements

for the Period 1 January 2022 to 30 January 2022

for

Plasticraft Displays (Huddersfield)

Limited

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

18,919

18,919

CURRENT ASSETS

Stocks

58,500

58,500

Debtors

5

98,373

98,372

Cash at bank

6,598

6,598

163,471

163,470

CREDITORS

Amounts falling due within one year

6

117,896

117,895

NET CURRENT ASSETS

45,575

45,575

TOTAL ASSETS LESS CURRENT LIABILITIES

64,494

64,494

CREDITORS

Amounts falling due after more than one year

7

(57,892

)

(57,892

)

PROVISIONS FOR LIABILITIES

(3,283

)

(3,283

)

NET ASSETS

3,319

3,319

CAPITAL AND RESERVES

Called up share capital

2,530

2,530

Retained earnings

789

789

SHAREHOLDERS' FUNDS

3,319

3,319

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 January 2022.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 January 2022 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 October 2023 and were signed on its behalf by:

Mr M G Holland - Director

Miss T A Holland - Director

1.	STATUTORY INFORMATION

Plasticraft Displays (Huddersfield) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

00447962

Registered office:

Unit 2,

Bradley Junction Industrial Estate

Leeds Road

Huddersfield

HD2 1UR

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Revenue is recognised as the company becomes entitled to consideration for the goods supplied. Therefore, turnover includes an element of work carried out but not yet invoiced.

Tangible fixed assets

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

Website development

-

Straight line over 10 years

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

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 period comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 period 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Website development

Website developments costs have been included in tangible fixed assets where the following conditions apply:

- the expenditure is separately identifiable;

- the technical feasibility and commercial viability of the website has been assessed with reasonable certainty;

- the website will generate sales or other revenues directly and the expenditure makes an enduring contribution to the development of the revenue-generating capabilities of the website;

-there is a reasonable expectation that the present value of the future cash flows to be generated by the website will be no less than the amounts capitalised;

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 5 (2021 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Website

Plant and

and

Computer

development

machinery

fittings

equipment

Totals

£

£

£

£

£

COST

At 1 January 2022

and 30 January 2022

4,230

83,327

6,925

9,539

104,021

DEPRECIATION

At 1 January 2022

and 30 January 2022

3,384

70,516

5,071

6,131

85,102

NET BOOK VALUE

At 30 January 2022

846

12,811

1,854

3,408

18,919

At 31 December 2021

846

12,811

1,854

3,408

18,919

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

33,353

33,353

Other debtors

65,020

65,019

98,373

98,372

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Bank loans and overdrafts

8,198

8,198

Trade creditors

53,257

53,257

Taxation and social security

17,174

17,174

Other creditors

39,267

39,266

117,896

117,895

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Bank loans

57,892

57,892

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

22,067

22,067

8.	SECURED DEBTS

The following secured debts are included within creditors:

2022

2021

£

£

Invoice discounting

24,882

24,882

Skipton Business Finance Ltd holds a fixed and floating charge over all the assets of the company.

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the period ended 30 January 2022 and the year ended 31 December 2021:

2022

2021

£

£

Miss T A Holland

Balance outstanding at start of period

25,046

(3

)

Amounts advanced

-

41,226

Amounts repaid

-

(16,177

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of period

25,046

25,046

Mr M G Holland

Balance outstanding at start of period

(2,427

)

(11,824

)

Amounts advanced

-

35,246

Amounts repaid

-

(25,849

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of period

(2,427

)

(2,427

)