Company Registration No. 00949944 (England and Wales)
PHILTON POLYTHENE CONVERTERS LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2016
PHILTON POLYTHENE CONVERTERS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
PHILTON POLYTHENE CONVERTERS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
5 APRIL 2016
05 April 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
25,861
27,215
Investments
2
1,000,454
935,202
1,026,315
962,417
Current assets
Stocks
459,267
352,304
Debtors
353,574
269,543
Cash at bank and in hand
726,902
890,934
1,539,743
1,512,781
Creditors: amounts falling due within one year
(230,162)
(109,911)
Net current assets
1,309,581
1,402,870
Total assets less current liabilities
2,335,896
2,365,287
Provisions for liabilities
(3,888)
(3,877)
2,332,008
2,361,410
Capital and reserves
Called up share capital
3
368
368
Other reserves
632
632
Profit and loss account
2,331,008
2,360,410
Shareholders' funds
2,332,008
2,361,410
PHILTON POLYTHENE CONVERTERS LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
5 APRIL 2016
05 April 2016
- 2 -
For the financial year ended 5 April 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board and authorised for issue on 2 September 2016
ASP Tisi
Director
Company Registration No. 00949944
PHILTON POLYTHENE CONVERTERS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 5 APRIL 2016
- 3 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention.
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Research and development
Research expenditure is written off to the profit and loss account in the year in which it is incurred. Development expenditure is written off in the same way unless the directors are satisfied as to the technical, commercial and financial viability of individual projects. In this situation, the expenditure is deferred and amortised over the period during which the company is expected to benefit.
1.5
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Plant and machinery
25% reducing balance
Fixtures, fittings & equipment
25% reducing balance
1.6
Leasing
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
1.7
Investments
Fixed asset investments are stated at cost less provision for diminution in value.
1.8
Stock
Stock is valued at the lower of cost and net realisable value.
1.9
Pensions
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.
1.10
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
1.11
Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.
PHILTON POLYTHENE CONVERTERS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2016
- 4 -
2
Fixed assets
Tangible assets
Investments
Total
£
£
£
Cost
At 6 April 2015
305,718
935,202
1,240,920
Additions
7,267
333,141
340,408
Disposals
-
(267,889)
(267,889)
At 5 April 2016
312,985
1,000,454
1,313,439
Depreciation
At 6 April 2015
278,503
-
278,503
Charge for the year
8,621
-
8,621
At 5 April 2016
287,124
-
287,124
Net book value
At 5 April 2016
25,861
1,000,454
1,026,315
At 5 April 2015
27,215
935,202
962,417
Holdings of more than 20%
The company holds more than 20% of the share capital of the following companies:
Company
Country of registration or
Shares held
incorporation
Class
%
Subsidiary undertakings
Isoliners Limited
UK
Ordinary
100.00
The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:
Capital and reserves
Profit/(loss) for the year
2016
2016
Principal activity
£
£
Isoliners Limited
Dormant
100
-
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
368 Ordinary of £1 each
368
368