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REGISTERED NUMBER:
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CHAMBERLAIN PLASTICS INTERNATIONAL |
LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 JULY 2017 |
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REGISTERED NUMBER:
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CHAMBERLAIN PLASTICS INTERNATIONAL |
LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 JULY 2017 |
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CHAMBERLAIN PLASTICS INTERNATIONAL |
LIMITED (REGISTERED NUMBER: 08092183) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
For The Year Ended 31 July 2017 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 | to | 3 |
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Notes to the Financial Statements | 4 | to | 7 |
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CHAMBERLAIN PLASTICS INTERNATIONAL |
LIMITED |
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COMPANY INFORMATION |
For The Year Ended 31 July 2017 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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1 Rushmills |
Bedford Road |
Northampton |
Northamptonshire |
NN4 7YB |
CHAMBERLAIN PLASTICS INTERNATIONAL |
LIMITED (REGISTERED NUMBER: 08092183) |
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BALANCE SHEET |
31 July 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
( |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 10 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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CHAMBERLAIN PLASTICS INTERNATIONAL |
LIMITED (REGISTERED NUMBER: 08092183) |
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BALANCE SHEET - continued |
31 July 2017 |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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CHAMBERLAIN PLASTICS INTERNATIONAL |
LIMITED (REGISTERED NUMBER: 08092183) |
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NOTES TO THE FINANCIAL STATEMENTS |
For The Year Ended 31 July 2017 |
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1. | STATUTORY INFORMATION |
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Chamberlain Plastics International Limited is a
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Wales. The company's registered number and registered office address can be found on the Company |
Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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There were no material departures from this standard. |
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Turnover |
In accordance with the principles of revenue recognition as stated in UITF 40 and Application Note G, turnover |
represents the value of work done in the accounting period, including estimates of amounts not yet invoiced. |
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Goodwill |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost |
less any accumulated amortisation and any accumulated impairment losses. |
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Tangible fixed assets |
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Plant and machinery | - |
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Motor vehicles | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and |
slow moving items. |
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Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost |
includes all direct costs and an appropriate proportion of fixed and variable overheads. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
balance sheet date. |
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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. |
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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. |
CHAMBERLAIN PLASTICS INTERNATIONAL |
LIMITED (REGISTERED NUMBER: 08092183) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 July 2017 |
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2. | ACCOUNTING POLICIES - continued |
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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. |
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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. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INTANGIBLE FIXED ASSETS |
Goodwill |
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COST |
At 1 August 2016 |
and 31 July 2017 |
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AMORTISATION |
At 1 August 2016 |
and 31 July 2017 |
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NET BOOK VALUE |
At 31 July 2017 |
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At 31 July 2016 |
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5. | TANGIBLE FIXED ASSETS |
Plant and | Motor |
machinery | vehicles | Totals |
£ | £ | £ |
COST |
At 1 August 2016 |
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Disposals |
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At 31 July 2017 |
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DEPRECIATION |
At 1 August 2016 |
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Charge for year |
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Eliminated on disposal |
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At 31 July 2017 |
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NET BOOK VALUE |
At 31 July 2017 |
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At 31 July 2016 |
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CHAMBERLAIN PLASTICS INTERNATIONAL |
LIMITED (REGISTERED NUMBER: 08092183) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 July 2017 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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Tax |
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VAT |
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Prepayments and accrued income |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Bank loans and overdrafts |
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Other loans |
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Trade creditors |
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Tax |
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Social security and other taxes |
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VAT | 869 | - |
Other creditors |
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Accruals and deferred income |
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8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2017 | 2016 |
£ | £ |
Bank loans - 1-2 years |
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Bank loans - 2-5 years |
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9. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2017 | 2016 |
£ | £ |
Bank loans |
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The bank loan is secured by a fixed and floating debenture over all of the assets of the company. |
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10. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2017 | 2016 |
value: | £ | £ |
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Ordinary | £1 | 100 | 100 |
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11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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T Mannion has given a personal guarantee to the company's bankers for £100,000. |
CHAMBERLAIN PLASTICS INTERNATIONAL |
LIMITED (REGISTERED NUMBER: 08092183) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 July 2017 |
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12. | ULTIMATE CONTROLLING PARTY |
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The ultimate controlling party is Ms T Mannion |
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13. | FIRST YEAR ADOPTION |
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The company has adopted FRS 102 for the first time in the year ended 31 July 2017. |
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The effect of the transition from the previous financial reporting framework to FRS 102 has been considered. |
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There has been no material impact in relation to the following: |
- changes in accounting policies |
- changes in shareholders funds |
- comparative year profit or loss |
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On that basis, no restatement has been undertaken. |