PLASTIC INNOVATIONS LTD | |
UNAUDITED FINANCIAL STATEMENTS | |
FOR THE YEAR ENDED 31 DECEMBER 2016 | |
PLASTIC INNOVATIONS LTD | |||
FINANCIAL STATEMENTS | |||
FOR THE YEAR ENDED 31 DECEMBER 2016 | |||
DIRECTORS | |||
M Falkingham | |||
A Pickett | |||
S Roskilly | |||
SECRETARY | |||
A Pickett | |||
REGISTERED OFFICE | |||
Lockwood House, Shepherd Place Kineton, Warwickshire. CV35 0NS |
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COMPANY REGISTERED NUMBER | |||
06880147 | |||
BANKERS | |||
NatWest Bank plc | |||
ACCOUNTANTS | |||
AMS Accountants | |||
Chartered Management Accountants | |||
Lockwood House, Shepherd Place Kineton, Warwickshire. CV35 0NS |
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CONTENTS | |||
Pages | |||
2-3 | Abridged Statement of Financial Position | ||
4-8 | Notes to the Financial Statements | ||
page 1 | |
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Company registered number: |
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ABRIDGED STATEMENT OF FINANCIAL POSITION AT |
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Note | 2016 | 2015 | |||
£ | £ | £ | |||
FIXED ASSETS | |||||
Property, plant and equipment |
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CURRENT ASSETS | |||||
Inventories |
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Debtors |
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Cash at bank and in hand |
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CREDITORS: Amounts falling due within one year | 4 |
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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 | 5 | ( |
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NET ASSETS | £ |
£ |
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CAPITAL AND RESERVES | |||||
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS | £ |
£ |
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page 2 | |
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Company registered number: |
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ABRIDGED STATEMENT OF FINANCIAL POSITION AT |
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In approving these financial statements as directors of the company we hereby confirm the following: | |||
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All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 December 2016 in accordance with Section 444 (2A) of the Companies Act 2006 | |||
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 and authorised for issue by the board of directors on |
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Signed on behalf of the board of directors | |||
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page 3 | |
PLASTIC INNOVATIONS LTD | |||
NOTES TO THE ACCOUNTS | |||
FOR THE YEAR ENDED 31 DECEMBER 2016 |
1. | SIGNIFICANT ACCOUNTING POLICIES | ||
1a. | Statement of compliance | |||
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Registered office: | ||||
Kineton, Warwickshire. CV35 0NS |
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These financial statements are the first financial statements that comply with FRS 102. The date of transition is 1 January 2016. | ||||
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Basis of accounting | ||||
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1c. | Revenue recognition | |||
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1d. | Borrowing costs | |||
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1e. | Taxation | |||
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page 4 | |
PLASTIC INNOVATIONS LTD | |||
NOTES TO THE ACCOUNTS (CONT.) | |||
FOR THE YEAR ENDED 31 DECEMBER 2016 |
1. | SIGNIFICANT ACCOUNTING POLICIES (CONT.) |
1f. | Property, plant and equipment | ||
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Plant and machinery |
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Vehicles |
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Fixtures and fittings |
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Equipment |
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1g. | Inventories | |||
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1h. | Short term debtors and creditors | |||
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1i. | Cash and cash equivalents | |||
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1j. | Interest bearing borrowings | |||
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page 5 | |
PLASTIC INNOVATIONS LTD | |||
NOTES TO THE ACCOUNTS (CONT.) | |||
FOR THE YEAR ENDED 31 DECEMBER 2016 |
1. | SIGNIFICANT ACCOUNTING POLICIES (CONT.) |
1k. | Leased assets | |||
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1l. | Foreign currencies | |||
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1m. | Employee benefits | |||
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1n. | Discontinued operations | |||
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1o. | Provisions | |||
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page 6 | |
PLASTIC INNOVATIONS LTD | |||
NOTES TO THE ACCOUNTS (CONT.) | |||
FOR THE YEAR ENDED 31 DECEMBER 2016 |
1. | SIGNIFICANT ACCOUNTING POLICIES (CONT.) |
1p. | Judgements and key sources of estimation uncertainty | |||
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2. | DIRECTORS AND EMPLOYEES | ||
The average weekly number of employees during the year were as follows: | |||
2016 | 2015 | ||
No. | No. | ||
Management and administration |
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Production and sales |
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3. | FIXED ASSETS | ||
Property | Total | ||
plant & | |||
equipment | |||
£ | £ | ||
Cost or valuation | |||
At 1 January 2016 |
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68,817 | |
Additions |
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28,544 | |
At 31 December 2016 |
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97,361 | |
Provision for depreciation, | |||
amortisation and impairment | |||
At 1 January 2016 |
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50,690 | |
For the year |
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10,712 | |
At 31 December 2016 |
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61,402 | |
Net Book Value | |||
At 31 December 2016 |
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At 31 December 2015 |
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page 7 | |
PLASTIC INNOVATIONS LTD | |||
NOTES TO THE ACCOUNTS (CONT.) | |||
FOR THE YEAR ENDED 31 DECEMBER 2016 |
4. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
2016 | 2015 | ||
£ | £ | ||
Trade creditors |
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Corporation tax |
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Other taxes and social security |
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Other creditors |
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Accruals and deferred income |
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£ |
£ |
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5. | CREDITORS: AMOUNTS FALLING DUE AFTER ONE YEAR | ||
2016 | 2015 | ||
£ | £ | ||
Finance leases and hire purchase contracts |
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£ |
£ |
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Analysis of borrowings: | |||
Due within five years: | |||
within 2-5 years | |||
leases |
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£5,390 | £8,674 | ||
page 8 |