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Unaudited Financial Statements for the Year Ended 31 December 2017 |
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Great Central Plastics Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 December 2017 |
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for |
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Great Central Plastics Limited |
Great Central Plastics Limited (Registered number: 03592369) |
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Contents of the Financial Statements |
for the Year Ended 31 December 2017 |
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Company Information | 1 |
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Chartered Accountants' Report | 2 |
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Balance Sheet | 3 |
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Notes to the Financial Statements | 5 |
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Great Central Plastics Limited |
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Company Information |
for the Year Ended 31 December 2017 |
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DIRECTORS: |
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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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Brook House |
Moss Grove |
Kingswinford |
West Midlands |
DY6 9HS |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Great Central Plastics Limited |
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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 Directors' Report are not |
required to be filed with the Registrar of Companies. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for |
your approval the financial statements of Great Central Plastics Limited for the year ended |
31 December 2017 which comprise the Profit or Loss Account, Balance Sheet and the related |
notes from the company's accounting records and from information and explanations you have |
given us. |
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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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
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This report is made solely to the Board of Directors of Great Central Plastics 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 Great Central Plastics Limited and state those matters that we have agreed to state to the Board of Directors of Great Central Plastics Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Great Central Plastics Limited and its Board of Directors, as a body, for our work or for this report. |
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It is your duty to ensure that Great Central Plastics 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 Great Central Plastics Limited. You consider that Great Central Plastics Limited is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of Great Central Plastics 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. |
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Brook House |
Moss Grove |
Kingswinford |
West Midlands |
DY6 9HS |
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Great Central Plastics Limited (Registered number: 03592369) |
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Balance Sheet |
31 December 2017 |
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2017 | 2016 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Investments | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 | ( |
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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 |
8 |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Revaluation reserve | 10 |
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Retained earnings |
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Great Central Plastics Limited (Registered number: 03592369) |
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Balance Sheet - continued |
31 December 2017 |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Profit or Loss Account has not been delivered. |
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The financial statements were approved by the Board of Directors on
were signed on its behalf by: |
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A Phillips - Director | B Phillips - Director |
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D A Brown - Director |
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Great Central Plastics Limited (Registered number: 03592369) |
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Notes to the Financial Statements |
for the Year Ended 31 December 2017 |
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1. | STATUTORY INFORMATION |
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Great Central Plastics Limited is a
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and Wales. The company's registered number and registered office address can be found |
on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding |
discounts, rebates, value added tax and other sales taxes. |
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Tangible fixed assets |
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Freehold property | - |
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Improvements to property | - |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Computer equipment | - |
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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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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and |
Loss account, except to the extent that it relates to items recognised in other comprehensive |
income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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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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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. |
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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. |
Great Central Plastics Limited (Registered number: 03592369) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2017 |
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2. | ACCOUNTING POLICIES - continued |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over |
the period of the lease. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the |
company's pension scheme are charged to profit or loss in the period to which they relate. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Improvements |
Freehold | to | Plant and |
property | property | machinery |
£ | £ | £ |
COST |
At 1 January 2017 |
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Additions |
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At 31 December 2017 |
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DEPRECIATION |
At 1 January 2017 |
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Charge for year |
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Eliminated on disposal |
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At 31 December 2017 |
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NET BOOK VALUE |
At 31 December 2017 |
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At 31 December 2016 |
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Great Central Plastics Limited (Registered number: 03592369) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2017 |
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4. | TANGIBLE FIXED ASSETS - continued |
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Fixtures |
and | Motor | Computer |
fittings | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 January 2017 |
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Additions |
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Disposals |
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At 31 December 2017 |
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DEPRECIATION |
At 1 January 2017 |
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Charge for year |
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Eliminated on disposal |
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At 31 December 2017 |
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NET BOOK VALUE |
At 31 December 2017 |
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At 31 December 2016 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
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Other debtors |
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6. | CURRENT ASSET INVESTMENTS |
2017 | 2016 |
£ | £ |
Unlisted investments | 30,000 | 30,000 |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Bank loans |
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Hire purchase contracts and finance leases |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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Great Central Plastics Limited (Registered number: 03592369) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2017 |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR |
2017 | 2016 |
£ | £ |
Bank loans |
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Hire purchase contracts and finance leases |
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9. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2017 | 2016 |
£ | £ |
Bank loans |
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Hire purchase contracts and finance leases | 70,764 | 22,108 |
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The bank loan is secured over the freehold property as 13 Great Central Way, Woodford, |
Halse by HSBC Bank PLC. |
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The hire purchase contracts and finance leases is secured by a fixed and floating charge |
over the company's assets. |
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10. | RESERVES |
Revaluation |
reserve |
£ |
At 1 January 2017 |
and 31 December 2017 |
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