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
Watershed Packaging Limited
Statement of financial position
as at 31 December 2022
Intangible assets
2,520
2,520
Tangible assets
6,709,319
7,074,758
Inventories
1,332,396
1,037,154
Debtors
1,557,241
1,528,378
Cash at bank and in hand
76,587
560,317
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
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
Watershed Packaging Limited
Notes to the Accounts
for the year ended 31 December 2022
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.
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 (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Goodwill
At 31 December 2022
181,353
At 31 December 2022
178,833
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
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
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
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Investments
Subsidiary undertakings
Valuation at 1 January 2022
-
Valuation at 31 December 2022
871,768
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
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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
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
Loans from directors
100,000
160,000
10
Average number of employees
During the year the average number of employees was 0 (2021: 0).