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Company Registration No. 08329946 (England and Wales)
I Packaging Ltd Unaudited accounts for the year ended 30 June 2023
I Packaging Ltd Unaudited accounts Contents
Page
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I Packaging Ltd Company Information for the year ended 30 June 2023
Director
Lian Wei Xu
Company Number
08329946 (England and Wales)
Registered Office
Roselea House Catsash Road Newport NP18 2LZ
Accountants
Evans Entwistle Venta House Maes-glas Newport NP20 2NS
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Chartered Management Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of I Packaging Ltd for the year ended 30 June 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of I Packaging Ltd for the year ended 30 June 2023 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.
As a CIMA Registered Member in Practice and Practising Certificate holder, I am subject to its ethical and other professional requirements which are detailed at https://www.cimaglobal.com/Members/Your-Membership-Information/Members-handbook/Licensing-and-monitoring/Members-in-practice/
Our work has been undertaken in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com.
Evans Entwistle Member in Practice Venta House Maes-glas Newport NP20 2NS 5 October 2023
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I Packaging Ltd Statement of financial position as at 30 June 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Investment property
- 
250,000 
Current assets
Debtors
33,337 
42,248 
Cash at bank and in hand
(33)
443 
33,304 
42,691 
Creditors: amounts falling due within one year
(7,070)
(51,507)
Net current assets/(liabilities)
26,234 
(8,816)
Total assets less current liabilities
26,234 
241,184 
Creditors: amounts falling due after more than one year
(5,000)
(29,736)
Provisions for liabilities
Deferred tax
- 
(16,752)
Net assets
21,234 
194,696 
Capital and reserves
Called up share capital
100 
100 
Revaluation reserve
67,008 
67,008 
Profit and loss account
(45,874)
127,588 
Shareholders' funds
21,234 
194,696 
For the year ending 30 June 2023 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 director acknowledges her 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 and authorised for issue on 5 October 2023 and were signed on its behalf by
Lian Wei Xu Director Company Registration No. 08329946
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I Packaging Ltd Notes to the Accounts for the year ended 30 June 2023
1
Statutory information
I Packaging Ltd is a private company, limited by shares, registered in England and Wales, registration number 08329946. The registered office is Roselea House, Catsash Road, Newport, NP18 2LZ.
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
4
Investment property
2023 
£ 
Fair value at 1 July 2022
250,000 
Disposals
(250,000)
At 30 June 2023
- 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
188 
42,248 
Amounts due from group undertakings etc.
33,149 
- 
33,337 
42,248 
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I Packaging Ltd Notes to the Accounts for the year ended 30 June 2023
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
2,500 
14,616 
VAT
- 
1,000 
Trade creditors
- 
2,791 
Taxes and social security
2,570 
- 
Other creditors
- 
31,400 
Accruals
2,000 
1,700 
7,070 
51,507 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
5,000 
7,500 
Amounts owed to group undertakings and other participating interests
- 
22,236 
5,000 
29,736 
8
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
9
Transactions with related parties
The company was owed an amount of £33,149 (2022: (£22,236)) by Jing Xing Trading Company Ltd (Company number 08329946).
10
Controlling party
The company is a wholly owned subsidiary of Jing Xing Trading Company Ltd (08329946).
11
Average number of employees
During the year the average number of employees was 1 (2022: 1).
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