D W Plastics Group Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10241438 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

FOR

D W PLASTICS GROUP LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

S E Burley

A Davies

S A Jones

P M White

S A Campbell

C Johnson

J E Turner

SECRETARY:

S E Burley

REGISTERED OFFICE:

Factory 7 Chandler Road

Chichester

West Sussex

PO19 8UE

REGISTERED NUMBER:

10241438 (England and Wales)

ACCOUNTANTS:

Lewis Brownlee (Chichester) Limited

Chartered Accountants

Appledram Barns

Birdham Road

Chichester

West Sussex

PO20 7EQ

FIXED ASSETS

Investments

4

4,966,056

4,365,605

CURRENT ASSETS

Prepayments and accrued income

39,600

50,400

Cash at bank

37

-

39,637

50,400

CREDITORS

Amounts falling due within one year

5

2,581,659

1,966,016

NET CURRENT LIABILITIES

(2,542,022

)

(1,915,616

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,424,034

2,449,989

CREDITORS

Amounts falling due after more than one year

6

2,100,000

2,350,000

NET ASSETS

324,034

99,989

CAPITAL AND RESERVES

Called up share capital

200,400

200,400

Retained earnings

123,634

(100,411

)

SHAREHOLDERS' FUNDS

324,034

99,989

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 18 September 2018 and were signed on its behalf by:

S E Burley - Director

1.	STATUTORY INFORMATION

D W Plastics Group Ltd is a private company, limited by shares, registered in England and Wales. The company's

registered office is Factory 7 Chandler Road, Chichester, West Sussex, PO19 8UE.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

The financial statements are presented in sterling (£), which is also the functional currency of the company.

Preparation of consolidated financial statements

The financial statements contain information about D W Plastics Group Ltd 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.

Revenue

Revenue described as turnover, represents dividend income.

Investments in subsidiaries

Fixed asset investments are stated at cost less provision for permanent diminution in value.

Financial instruments

Financial instruments are classified by the directors as basic following the conditions in FRS 102 Section 1a. Basic

financial instruments are recognised at amortised cost using the effective interest method.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2017 - 5 ) .

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2017

4,365,605

Additions

600,451

At 31 March 2018

4,966,056

NET BOOK VALUE

At 31 March 2018

4,966,056

At 31 March 2017

4,365,605

The company's investments at the Balance Sheet date in the share capital of companies include the following:

D.W. Plastics Limited

Registered office: Factory 7 Chandler Road, Terminus Road Industrial Estate, Chichester, West Sussex, PO19 8UE

Nature of business: manufacture, design and development of plastic

%

Class of shares:

holding

Ordinary

100.00

2018

2017

£

£

Aggregate capital and reserves

3,004,890

2,947,187

Profit for the year/period

807,703

626,551

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Amounts owed to group undertakings

2,092,643

1,715,016

Other creditors

489,016

251,000

2,581,659

1,966,016

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Other creditors

2,100,000

2,350,000

Amounts falling due in more than five years:

Repayable by instalments

Other loans more 5yrs instal

850,000

1,100,000

7.	SECURED DEBTS

Included in other creditors is an amount of £2,350,000 (2017 - £2,600,000) relating to £2,600,000 10% secured

loan notes taken out on 1st December 2016. The loan notes are secured by a fixed and floating charge over all of

the company's assets and its subsidiary, D.W. Plastics Limited. The loan notes are fully repayable by 1st

December 2021.

8.	RELATED PARTY DISCLOSURES

At the balance sheet date there was an amount due to D.W. Plastics Limited of £2,421,802 (2017 - £1,715,016).

This loan is repayable on demand. No interest was charged on this loan.