Plastics Industries Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01849678 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2018

for

Plastics Industries Limited

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

4

DIRECTORS:

W T Houston

G Houston

SECRETARY:

W T Houston

REGISTERED OFFICE:

Elizabeth House

13-19 Queen Street

Leeds

West Yorkshire

LS1 2TW

REGISTERED NUMBER:

01849678 (England and Wales)

ACCOUNTANTS:

The Hansen Company

The Old Forge

28 Field Road

Busby

Glasgow

G76 8SE

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Plastics Industries Limited for the year ended 31 December 2018 which comprise the Income

Statement, Balance Sheet and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Plastics Industries Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Plastics Industries Limited and state those matters that we have agreed to state to the Board of Directors of Plastics Industries Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Plastics Industries Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Plastics Industries Limited. You consider that Plastics Industries Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Plastics Industries Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

The Hansen Company

The Old Forge

28 Field Road

Busby

Glasgow

G76 8SE

25 September 2019

FIXED ASSETS

Investments

3

266,484

304,836

CREDITORS

Amounts falling due within one year

4

258,700

298,700

NET CURRENT LIABILITIES

(258,700

)

(298,700

)

TOTAL ASSETS LESS CURRENT LIABILITIES

7,784

6,136

CAPITAL AND RESERVES

Called up share capital

19,236

19,236

Retained earnings

(11,452

)

(13,100

)

SHAREHOLDERS' FUNDS

7,784

6,136

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 25 September 2019 and were signed on its behalf by:

W T Houston - Director

1.	STATUTORY INFORMATION

Plastics Industries Limited is a private company, limited by shares , registered in England and Wales. 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

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements

The financial statements contain information about Plastics Industries Limited as an individual company and do

not contain consolidated financial information as the parent of a group. The company is exempt under Section

399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

Pensions

Plastic Dip Mouldings Limited Retirement Benefits Scheme is a money purchase scheme and replaced Plastic

Industries Retirement Benefits Scheme as the company's operational pension scheme in July 1992. Both schemes

are however totally independent of each other, in funding and liability discharge.

Going concern

The directors consider the company to be a going concern due to the support of the subsidiary companies.

3.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2018

304,836

Disposals

(38,352

)

At 31 December 2018

266,484

NET BOOK VALUE

At 31 December 2018

266,484

At 31 December 2017

304,836

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Amounts owed to group undertakings

258,700

298,700