Newtown Plastics Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 04111204 (England and Wales)

NEWTOWN PLASTICS LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

Page

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

3

FIXED ASSETS

Intangible assets

2

-

Tangible assets

3

280,270

268,854

280,270

268,854

CURRENT ASSETS

Stocks

42,508

39,614

Debtors

192,830

239,810

Cash at bank and in hand

46,572

58,829

281,910

338,253

CREDITORS

Amounts falling due within one year

77,454

153,298

NET CURRENT ASSETS

204,456

184,955

TOTAL ASSETS LESS CURRENT
LIABILITIES

484,726

453,809

PROVISIONS FOR LIABILITIES

55,533

51,663

NET ASSETS

429,193

402,146

CAPITAL AND RESERVES

Called up share capital

4

2

Profit and loss account

429,191

402,144

SHAREHOLDERS' FUNDS

429,193

402,146

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 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 20 December 2016 and were signed on
its behalf by:

S Church - 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 January 2015).

Turnover

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

Goodwill

Goodwill relates to the acquisition of a business in 2007, and has been depreciated on a straight line

basis over its useful economic life.

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% Straight Line

Fixtures and fittings

-

10% Straight Line

Computer equipment

-

10% Straight Line

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.

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.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

and 31 March 2016

9,500

AMORTISATION

At 1 April 2015

and 31 March 2016

9,500

NET BOOK VALUE

At 31 March 2016

-

At 31 March 2015

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

540,855

Additions

55,413

Disposals

(19,929

)

At 31 March 2016

576,339

DEPRECIATION

At 1 April 2015

272,001

Charge for year

41,708

Eliminated on disposal

(17,640

)

At 31 March 2016

296,069

NET BOOK VALUE

At 31 March 2016

280,270

At 31 March 2015

268,854

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

2

Ordinary

£1

2

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2016 and

31 March 2015:

2016

2015

£

S Church and Mrs C Church

Balance outstanding at start of year

61,525

(2,817

)

Amounts advanced

21,186

64,342

Amounts repaid

(40,000

)

-

Balance outstanding at end of year

42,711

61,525

Interest was charged on this loan, at the official rate for beneficial loans, and included in other income

£1539. (2015 £984)

Repayments were made totalling £40,000 by 19th December 2016.