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REGISTERED NUMBER: 12488888 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2022

FOR

PACKAGING-X LTD

PACKAGING-X LTD (REGISTERED NUMBER: 12488888)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PACKAGING-X LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2022







DIRECTOR: M J Stephens





SECRETARY:





REGISTERED OFFICE: Unit C5
Innsworth Lane
Gloucester
GL3 1DL





REGISTERED NUMBER: 12488888 (England and Wales)





ACCOUNTANTS: Devereux & Co
3 Court Mews
268 London Road
Charlton Kings
Cheltenham
Gloucestershire
GL52 6HS

PACKAGING-X LTD (REGISTERED NUMBER: 12488888)

BALANCE SHEET
28 FEBRUARY 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 14,838 2,441

CURRENT ASSETS
Stocks 4,313 4,060
Debtors 5 35,546 27,551
Cash at bank 7,092 21,306
46,951 52,917
CREDITORS
Amounts falling due within one year 6 13,585 10,822
NET CURRENT ASSETS 33,366 42,095
TOTAL ASSETS LESS CURRENT
LIABILITIES

48,204

44,536

CREDITORS
Amounts falling due after more than one
year

7

42,332

50,000
NET ASSETS/(LIABILITIES) 5,872 (5,464 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 5,871 (5,465 )
5,872 (5,464 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

PACKAGING-X LTD (REGISTERED NUMBER: 12488888)

BALANCE SHEET - continued
28 FEBRUARY 2022


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 director and authorised for issue on 30 July 2022 and were signed by:





M J Stephens - Director


PACKAGING-X LTD (REGISTERED NUMBER: 12488888)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2022

1. STATUTORY INFORMATION

Packaging-X LTD 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 10% on cost
Plant and machinery etc - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

PACKAGING-X LTD (REGISTERED NUMBER: 12488888)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2022

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 March 2021 1,462 1,500 2,962
Additions - 16,865 16,865
At 28 February 2022 1,462 18,365 19,827
DEPRECIATION
At 1 March 2021 146 375 521
Charge for year 146 4,322 4,468
At 28 February 2022 292 4,697 4,989
NET BOOK VALUE
At 28 February 2022 1,170 13,668 14,838
At 28 February 2021 1,316 1,125 2,441

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 13,826 3,551
Other debtors 21,720 24,000
35,546 27,551

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 5,305 -
Trade creditors 842 1,094
Taxation and social security 2,824 259
Other creditors 4,614 9,469
13,585 10,822

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Bank loans 42,332 50,000

8. ULTIMATE CONTROLLING PARTY

The controlling party is M J Stephens.