Prestige Plastics Limited - Accounts to registrar (filleted) - small 17.3
Prestige Plastics Limited - Accounts to registrar (filleted) - small 17.3
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 July 2017 |
| for |
| Prestige Plastics Limited |
| Prestige Plastics Limited (Registered number: 04260145) |
| Contents of the Financial Statements |
| for the Year Ended 31 July 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Prestige Plastics Limited |
| Company Information |
| for the Year Ended 31 July 2017 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 63 Broad Green |
| Wellingborough |
| Northamptonshire |
| NN8 4LQ |
| Prestige Plastics Limited (Registered number: 04260145) |
| Balance Sheet |
| 31 July 2017 |
| 2017 | 2016 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| Prestige Plastics Limited (Registered number: 04260145) |
| Balance Sheet - continued |
| 31 July 2017 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors on behalf by: |
| Prestige Plastics Limited (Registered number: 04260145) |
| Notes to the Financial Statements |
| for the Year Ended 31 July 2017 |
| 1. | STATUTORY INFORMATION |
| Prestige Plastics Limited is a |
| 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 |
| This is the first period that the Company has presented its financial statements under Section 1A of |
| FRS102 issued by the Financial Reporting Council. The last financial statements under the previous |
| GAAP were for the period 31st July 2016 and the date of transition to FRS 102 was therefore 1st |
| August 2015. There were no changes in the transition from GAAP to Section 1A of FRS 102. |
| Revenue |
| Turnover represents net invoices sale of goods and services, excluding value added tax. |
| Tangible fixed assets |
| Freehold property | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| 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. |
| Prestige Plastics Limited (Registered number: 04260145) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 July 2017 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| COST |
| At 1 August 2016 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 July 2017 |
| DEPRECIATION |
| At 1 August 2016 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 July 2017 |
| NET BOOK VALUE |
| At 31 July 2017 |
| At 31 July 2016 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade debtors |
| Prepayments and accrued income |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts |
| Trade creditors |
| Tax |
| Social security and other taxes |
| VAT | 49,468 | 27,819 |
| Other creditors |
| Credit card | 234 | 971 |
| Directors' current accounts | 98,226 | 94,185 |
| Accrued expenses |
| Prestige Plastics Limited (Registered number: 04260145) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 July 2017 |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Bank loans - 1-2 years |
| Bank loans - 2-5 years |
| Hire purchase contracts |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2017 | 2016 |
| £ | £ |
| Bank loans |
| Barclays Bank PLC hold a charge over freehold property. |
| 9. | ULTIMATE CONTROLLING PARTY |
| The company is under the ultimate control of Prestige Plastics Holdings Limited. |