Prestige Plastics Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 04260145 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 July 2016

for

Prestige Plastics Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mr S Geranio

Mr K A Hanger

Mr S A Taylor

Mr M I Todd

SECRETARY:

Mr K A Hanger

REGISTERED OFFICE:

63 Broad Green

Wellingborough

Northamptonshire

NN8 4LQ

REGISTERED NUMBER:

04260145 (England and Wales)

ACCOUNTANTS:

Clifford Roberts

63 Broad Green

Wellingborough

Northamptonshire

NN8 4LQ

FIXED ASSETS

Tangible assets

2

346,344

334,130

CURRENT ASSETS

Stocks

153,246

120,679

Debtors

424,835

339,237

Cash at bank and in hand

421,583

527,233

999,664

987,149

CREDITORS

Amounts falling due within one year

3

405,326

337,494

NET CURRENT ASSETS

594,338

649,655

TOTAL ASSETS LESS CURRENT
LIABILITIES

940,682

983,785

CREDITORS

Amounts falling due after more than one
year

3

106,892

153,934

NET ASSETS

833,790

829,851

CAPITAL AND RESERVES

Called up share capital

4

Profit and loss account

833,786

829,847

SHAREHOLDERS' FUNDS

833,790

829,851

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 24 March 2017 and were signed on its
behalf by:

Mr S A Taylor - 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).

Revenue

Turnover represents net invoices sale of goods and services, 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.

Freehold property

-

4% on cost

Plant and machinery

-

20% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

20% on cost

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.

Hire purchase and leasing commitments

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 August 2015

808,649

Additions

94,451

At 31 July 2016

903,100

DEPRECIATION

At 1 August 2015

474,519

Charge for year

82,237

At 31 July 2016

556,756

NET BOOK VALUE

At 31 July 2016

346,344

At 31 July 2015

334,130

3.

CREDITORS

Creditors include an amount of £ 67,732 (2015 - £ 90,294 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

4

Ordinary

£1

4

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included in creditors amounts falling due within one year are loans from the directors, Mr S Geranio

£25,000 (2015 - £25,000l), Mr K A Hanger £25,000 (2015 - £25,000), Mr S A Taylor £19,185 (2015 -

£24,771) and Mr M I Todd £25,000 (2015 - £25,000). These loans are interest free, unsecured and

repayable on demand.

During the year the directors each received a dividend of £25,000