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Company Registration No. 02877836 (England and Wales)
Watershed Packaging Limited Unaudited accounts for the year ended 31 December 2022
Watershed Packaging Limited Unaudited accounts Contents
Page
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Watershed Packaging Limited Statement of financial position as at 31 December 2022
2022 
2021 
Notes
£ 
£ 
Fixed assets
Intangible assets
2,520 
2,520 
Tangible assets
6,709,319 
7,074,758 
Investments
871,768 
- 
7,583,607 
7,077,278 
Current assets
Inventories
1,332,396 
1,037,154 
Debtors
1,557,241 
1,528,378 
Cash at bank and in hand
76,587 
560,317 
2,966,224 
3,125,849 
Creditors: amounts falling due within one year
(4,157,685)
(3,046,463)
Net current (liabilities)/assets
(1,191,461)
79,386 
Total assets less current liabilities
6,392,146 
7,156,664 
Creditors: amounts falling due after more than one year
(1,678,702)
(2,642,521)
Provisions for liabilities
Deferred tax
(676,512)
(724,068)
Net assets
4,036,932 
3,790,075 
Capital and reserves
Called up share capital
1,005 
1,005 
Profit and loss account
4,035,927 
3,789,070 
Shareholders' funds
4,036,932 
3,790,075 
For the year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2023 and were signed on its behalf by
J Waters Director Company Registration No. 02877836
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Watershed Packaging Limited Notes to the Accounts for the year ended 31 December 2022
1
Statutory information
Watershed Packaging Limited is a private company, limited by shares, registered in England and Wales, registration number 02877836. The registered office is Wigton Heath, Manor House Lane, Leeds, West Yorkshire, LS17 9JD.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 January 2022
181,353 
At 31 December 2022
181,353 
Amortisation
At 1 January 2022
178,833 
At 31 December 2022
178,833 
Net book value
At 31 December 2022
2,520 
At 31 December 2021
2,520 
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Watershed Packaging Limited Notes to the Accounts for the year ended 31 December 2022
5
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 January 2022
3,258,306 
8,964,864 
97,928 
27,924 
12,349,022 
Additions
- 
275,053 
26,866 
- 
301,919 
At 31 December 2022
3,258,306 
9,239,917 
124,794 
27,924 
12,650,941 
Depreciation
At 1 January 2022
201,252 
4,979,710 
76,600 
16,702 
5,274,264 
Charge for the year
- 
658,154 
7,011 
2,193 
667,358 
At 31 December 2022
201,252 
5,637,864 
83,611 
18,895 
5,941,622 
Net book value
At 31 December 2022
3,057,054 
3,602,053 
41,183 
9,029 
6,709,319 
At 31 December 2021
3,057,054 
3,985,154 
21,328 
11,222 
7,074,758 
6
Investments
Subsidiary undertakings 
£ 
Valuation at 1 January 2022
- 
Additions
871,768 
Valuation at 31 December 2022
871,768 
7
Debtors
2022 
2021 
£ 
£ 
Amounts falling due within one year
Trade debtors
1,380,942 
1,289,230 
Accrued income and prepayments
64,892 
64,385 
Other debtors
111,407 
174,763 
1,557,241 
1,528,378 
8
Creditors: amounts falling due within one year
2022 
2021 
£ 
£ 
Bank loans and overdrafts
833,872 
396,800 
Obligations under finance leases and hire purchase contracts
419,600 
513,900 
Trade creditors
1,014,954 
1,134,167 
Taxes and social security
418,349 
194,839 
Other creditors
1,389,267 
774,024 
Loans from directors
2,978 
2,348 
Accruals
78,665 
30,385 
4,157,685 
3,046,463 
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Watershed Packaging Limited Notes to the Accounts for the year ended 31 December 2022
9
Creditors: amounts falling due after more than one year
2022 
2021 
£ 
£ 
Bank loans
1,146,175 
1,762,640 
Obligations under finance leases and hire purchase contracts
190,027 
719,881 
Other creditors
242,500 
- 
Loans from directors
100,000 
160,000 
1,678,702 
2,642,521 
10
Average number of employees
During the year the average number of employees was 0 (2021: 0).
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