Coda Plastics Limited - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 01116956 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MAY 2014

FOR

CODA PLASTICS LIMITED

Page

Company Information

1

Chartered Accountants' Report

2

Abbreviated Balance Sheet

3

Notes to the Abbreviated Accounts

5

DIRECTORS:

Mr J Campbell

Mr N Tate

Mr C Gray

Mr S Girdlestone

SECRETARY:

Mr J Campbell

REGISTERED OFFICE:

Folgate Road

North Walsham

Norfolk

NR28 OAJ

REGISTERED NUMBER:

01116956 (England and Wales)

ACCOUNTANTS:

Berry & Warren Ltd

Chartered Accountants

54 Thorpe Road

Norwich

Norfolk

NR1 1RY

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages three to seven)

have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Coda Plastics Limited for the year ended 31 May 2014 which comprise the Profit and Loss

Account, the 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 at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Coda 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 Coda Plastics

Limited and state those matters that we have agreed to state to the Board of Directors of Coda Plastics Limited, as a

body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by

law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body,

for our work or for this report.

It is your duty to ensure that Coda 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 Coda Plastics

Limited. You consider that Coda 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 Coda 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.

Berry & Warren Ltd

Chartered Accountants

54 Thorpe Road

Norwich

Norfolk

NR1 1RY

1 October 2014

FIXED ASSETS

Tangible assets

2

1,335,844

1,208,476

Investments

3

31,110

25,110

1,366,954

1,233,586

CURRENT ASSETS

Stocks

418,610

413,485

Debtors

2,020,507

1,677,813

Cash at bank and in hand

419,680

571,113

2,858,797

2,662,411

CREDITORS

Amounts falling due within one year

4

1,061,258

990,208

NET CURRENT ASSETS

1,797,539

1,672,203

TOTAL ASSETS LESS CURRENT LIABILITIES

3,164,493

2,905,789

CREDITORS

Amounts falling due after more than one year

4

(452,031

)

(234,405

)

PROVISIONS FOR LIABILITIES

(82,014

)

(70,605

)

NET ASSETS

2,630,448

2,600,779

CAPITAL AND RESERVES

Called up share capital

5

100

100

Profit and loss account

2,630,348

2,600,679

SHAREHOLDERS' FUNDS

2,630,448

2,600,779

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2014 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 1 October 2014 and were signed on its behalf by:

Mr N Tate - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Land and buildings

-

2% on cost

Plant and machinery etc

-

50% on reducing balance and 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.

Deferred tax

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

sheet date.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

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

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2013

5,986,548

Additions

433,686

Disposals

(187,500

)

At 31 May 2014

6,232,734

DEPRECIATION

At 1 June 2013

4,778,072

Charge for year

306,139

Eliminated on disposal

(187,321

)

At 31 May 2014

4,896,890

NET BOOK VALUE

At 31 May 2014

1,335,844

At 31 May 2013

1,208,476

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 June 2013

25,110

Additions

6,000

At 31 May 2014

31,110

NET BOOK VALUE

At 31 May 2014

31,110

At 31 May 2013

25,110

4.

CREDITORS

Creditors include an amount of £ 575,839 (2013 - £ 270,696 ) for which security has been given.

They also include the following debts falling due in more than five years:

2014

2013

£

£

Repayable by instalments

19,894

9,710

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

100

Ordinary

£1

100

100

6.	ULTIMATE PARENT COMPANY

The company is a wholly owned subsidiary of Campbell & Tate Ltd.