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Report of the Director and |
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Unaudited Financial Statements for the Year Ended 31 March 2017 |
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Ask Plastics Ltd |
REGISTERED NUMBER:
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Report of the Director and |
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Unaudited Financial Statements for the Year Ended 31 March 2017 |
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for |
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Ask Plastics Ltd |
Ask Plastics Ltd (Registered number: 09451156) |
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Contents of the Financial Statements |
for the Year Ended 31 March 2017 |
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Page |
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Company Information | 1 |
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Report of the Director | 2 |
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Profit and Loss Account | 3 |
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Balance Sheet | 4 |
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Notes to the Financial Statements | 5 |
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Ask Plastics Ltd |
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Company Information |
for the Year Ended 31 March 2017 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Ask Plastics Ltd (Registered number: 09451156) |
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Report of the Director |
for the Year Ended 31 March 2017 |
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The director presents his report with the financial statements of the company for the year ended 31 March 2017. |
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PRINCIPAL ACTIVITY |
The principal activity of the company in the year under review was that of plastic composite manufacturing |
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DIRECTOR |
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CHARITABLE | DONATIONS |
During the year the company contributed £8501 to charities |
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This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small |
companies. |
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ON BEHALF OF THE BOARD: |
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Ask Plastics Ltd (Registered number: 09451156) |
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Profit and Loss Account |
for the Year Ended 31 March 2017 |
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31.3.17 | 31.3.16 |
Notes | £ | £ | £ | £ |
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TURNOVER |
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Cost of sales |
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GROSS PROFIT |
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Distribution costs |
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Administrative expenses |
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1,643,762 | 1,736,925 |
OPERATING PROFIT | 2 |
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Interest payable and similar charges |
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PROFIT ON ORDINARY ACTIVITIES
BEFORE TAXATION |
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Tax on profit on ordinary activities | 3 |
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PROFIT FOR THE FINANCIAL YEAR |
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Ask Plastics Ltd (Registered number: 09451156) |
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Balance Sheet |
31 March 2017 |
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31.3.17 | 31.3.16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 5 |
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Tangible assets | 6 |
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CURRENT ASSETS |
Stocks |
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Debtors | 7 |
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Cash in hand |
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CREDITORS |
Amounts falling due within one year | 8 |
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NET CURRENT ASSETS/(LIABILITIES) |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 9 |
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Profit and loss account | 10 |
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SHAREHOLDERS' FUNDS |
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The director acknowledges his responsibilities for: |
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ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and |
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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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The financial statements were approved by the director on
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Ask Plastics Ltd (Registered number: 09451156) |
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Notes to the Financial Statements |
for the Year Ended 31 March 2017 |
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1. | ACCOUNTING POLICIES |
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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). |
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Turnover |
Turnover represents net invoiced sales of goods, excluding value added tax. |
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Goodwill |
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Tangible fixed assets |
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Plant and machinery etc | - |
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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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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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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. |
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2. | OPERATING PROFIT |
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The operating profit is stated after charging: |
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31.3.17 | 31.3.16 |
£ | £ |
Depreciation - owned assets |
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Director's remuneration and other benefits etc |
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3. | TAXATION |
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Analysis of the tax charge |
The tax charge on the profit on ordinary activities for the year was as follows: |
31.3.17 | 31.3.16 |
£ | £ |
Current tax: |
UK corporation tax |
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Tax on profit on ordinary activities |
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Ask Plastics Ltd (Registered number: 09451156) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2017 |
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4. | DIVIDENDS |
31.3.17 | 31.3.16 |
£ | £ |
Ordinary shares of £1 each |
Final | 63,852 | - |
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5. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 April 2016 |
and 31 March 2017 |
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NET BOOK VALUE |
At 31 March 2017 |
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At 31 March 2016 |
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6. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1 April 2016 |
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Additions |
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At 31 March 2017 |
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DEPRECIATION |
Charge for year |
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At 31 March 2017 |
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NET BOOK VALUE |
At 31 March 2017 |
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At 31 March 2016 |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.17 | 31.3.16 |
£ | £ |
Trade debtors | 2,937,224 | 1,637,408 |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.17 | 31.3.16 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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Ask Plastics Ltd (Registered number: 09451156) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2017 |
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9. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.3.17 | 31.3.16 |
value: | £ | £ |
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Ordinary | £1 |
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10. | RESERVES |
Profit |
and loss |
account |
£ |
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At 1 April 2016 |
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Profit for the year |
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Dividends | ( |
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At 31 March 2017 |
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