Registered number
05119664
Brian Pike Packaging Limited
Filleted Accounts
for the year ended
31 May 2023
Brian Pike Packaging Limited
Registered number: 05119664
Balance Sheet
as at 31 May 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 1,250 1,500
Tangible assets 4 58,987 68,958
60,237 70,458
Current assets
Stocks 102,962 96,804
Debtors 5 47,505 85,128
Cash at bank and in hand 242,169 237,752
392,636 419,684
Creditors: amounts falling due within one year 6 (106,776) (123,047)
Net current assets 285,860 296,637
Total assets less current liabilities 346,097 367,095
Provisions for liabilities (4,840) (4,670)
Net assets 341,257 362,425
Capital and reserves
Called up share capital 100 100
Profit and loss account 341,157 362,325
Shareholders' funds 341,257 362,425
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Brian Pike
Director
Approved by the board on 6 October 2023
Brian Pike Packaging Limited
Notes to the Accounts
for the year ended 31 May 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Goodwill arises on business acquisitions and is measured at cost less accumulative amortisation and any accumulative impairment losses. Goodwill is amortised on a straight line basis over its useful life which is estimated to be 10 years.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Improvements to leasehold property straight line basis over 15 years
Plant and machinery 20% reducing balance basis
Motor vehicles 25% reducing balance basis
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 5 5
3 Intangible fixed assets £
Goodwill:
Cost
At 1 June 2022 2,500
At 31 May 2023 2,500
Amortisation
At 1 June 2022 1,000
Provided during the year 250
At 31 May 2023 1,250
Net book value
At 31 May 2023 1,250
At 31 May 2022 1,500
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 June 2022 132,522 49,017 181,539
At 31 May 2023 132,522 49,017 181,539
Depreciation
At 1 June 2022 69,611 42,970 112,581
Charge for the year 8,459 1,512 9,971
At 31 May 2023 78,070 44,482 122,552
Net book value
At 31 May 2023 54,452 4,535 58,987
At 31 May 2022 62,911 6,047 68,958
5 Debtors 2023 2022
£ £
Trade debtors 42,268 80,445
Other debtors 5,237 4,683
47,505 85,128
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 30,000 49,177
Taxation and social security costs 35,409 27,685
Other creditors 41,367 46,185
106,776 123,047
7 Other information
Brian Pike Packaging Limited is a private company limited by shares and incorporated in England. Its registered office is:
100 Queen Alexandra Road
Salisbury
Wilts
SP2 9LB
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