Company Registration No. 04788502 (England and Wales)
A. & M. PLASTIC MACHINERY UK LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018
PAGES FOR FILING WITH REGISTRAR
A. & M. PLASTIC MACHINERY UK LTD
COMPANY INFORMATION
Directors
Mr A Farrell
Mrs M A Farrell
Secretary
Mrs M A Farrell
Company number
04788502
Registered office
12 Clifford Road
Droitwich
Worcestershire
WR9 8UR
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
National Westminster Bank Plc
5 Victoria Square
Droitwich Spa
Worcestershire
WR9 8DF
A. & M. PLASTIC MACHINERY UK LTD
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 6
A. & M. PLASTIC MACHINERY UK LTD
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF A. & M. PLASTIC MACHINERY UK LTD FOR THE YEAR ENDED 31 MARCH 2018
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of A. & M. Plastic Machinery UK Ltd for the year ended 31 March 2018 which comprise, the 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 the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of A. & M. Plastic Machinery UK Ltd, 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 A. & M. Plastic Machinery UK Ltd and state those matters that we have agreed to state to the Board of Directors of A. & M. Plastic Machinery UK Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than A. & M. Plastic Machinery UK Ltd and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that A. & M. Plastic Machinery UK Ltd 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 loss of A. & M. Plastic Machinery UK Ltd. You consider that A. & M. Plastic Machinery UK Ltd 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 A. & M. Plastic Machinery UK Ltd. 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.

Ormerod Rutter Limited
20 December 2018
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
A. & M. PLASTIC MACHINERY UK LTD
BALANCE SHEET
AS AT
31 MARCH 2018
31 March 2018
- 2 -
2018
2017
Notes
£
£
£
£
Fixed assets
Investments
4
4
4
Current assets
Stocks
33,200
-
Debtors
5
223,498
117,435
Cash at bank and in hand
9,646
125,956
266,344
243,391
Creditors: amounts falling due within one year
6
(120,089)
(78,831)
Net current assets
146,255
164,560
Total assets less current liabilities
146,259
164,564
Capital and reserves
Called up share capital
7
4
4
Profit and loss reserves
146,255
164,560
Total equity
146,259
164,564

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

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.

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

The financial statements were approved by the board of directors and authorised for issue on 2 December 2018 and are signed on its behalf by:
Mr A Farrell
Director
Company Registration No. 04788502
A. & M. PLASTIC MACHINERY UK LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018
- 3 -
1
Accounting policies
Company information

A. & M. Plastic Machinery UK Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 12 Clifford Road, Droitwich, Worcestershire, WR9 8UR.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of services is recognised by reference to the stage of completion and where the amount of revenue can be measured reliably.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computer equipment
33% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

A. & M. PLASTIC MACHINERY UK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2018
1
Accounting policies
(Continued)
- 4 -
1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 2 (2017 - 2).

A. & M. PLASTIC MACHINERY UK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2018
- 5 -
3
Tangible fixed assets
Computer equipment
£
Cost
At 1 April 2017 and 31 March 2018
3,137
Depreciation and impairment
At 1 April 2017 and 31 March 2018
3,137
Carrying amount
At 31 March 2018
-
At 31 March 2017
-
4
Fixed asset investments
2018
2017
£
£
Investments
4
4

 

Movements in fixed asset investments
Shares in group undertakings
£
Cost or valuation
At 1 April 2017 & 31 March 2018
4
Carrying amount
At 31 March 2018
4
At 31 March 2017
4
5
Debtors
2018
2017
Amounts falling due within one year:
£
£
Trade debtors
20,383
-
Amounts due from group undertakings
201,160
117,435
221,543
117,435
Deferred tax asset
1,955
-
223,498
117,435
A. & M. PLASTIC MACHINERY UK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2018
- 6 -
6
Creditors: amounts falling due within one year
2018
2017
£
£
Trade creditors
35,563
-
Other taxation and social security
10,533
13,875
Other creditors
73,993
64,956
120,089
78,831
7
Called up share capital
2018
2017
£
£
Ordinary share capital
Issued and fully paid
4 Ordinary A of £1 each
4
4
8
Related party transactions

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

9
Ultimate controlling party

The ultimate controlling party is Mr A and Mrs M A Farrell.

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