REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE PERIOD 1 AUGUST 2021 TO 31 JANUARY 2023 |
FOR |
PFF PACKAGING GROUP LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE PERIOD 1 AUGUST 2021 TO 31 JANUARY 2023 |
FOR |
PFF PACKAGING GROUP LIMITED |
PFF PACKAGING GROUP LIMITED (REGISTERED NUMBER: 05897559) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 AUGUST 2021 TO 31 JANUARY 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
PFF PACKAGING GROUP LIMITED |
COMPANY INFORMATION |
FOR THE PERIOD 1 AUGUST 2021 TO 31 JANUARY 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants |
1 Valley Court |
Canal Road |
Bradford |
West Yorkshire |
BD1 4SP |
PFF PACKAGING GROUP LIMITED (REGISTERED NUMBER: 05897559) |
BALANCE SHEET |
31 JANUARY 2023 |
2023 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
CURRENT ASSETS |
Debtors | 5 |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Profit and loss account | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
PFF PACKAGING GROUP LIMITED (REGISTERED NUMBER: 05897559) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 AUGUST 2021 TO 31 JANUARY 2023 |
1. | STATUTORY INFORMATION |
PFF Packaging Group Limited is a |
2. | ACCOUNTING POLICIES |
BASIS OF PREPARING THE FINANCIAL STATEMENTS |
The financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
PREPARATION OF CONSOLIDATED FINANCIAL STATEMENTS |
The financial statements contain information about PFF Packaging Group Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, PFF Group Limited, Unit 3 Airedale Park, Royd Ings Avenue, Keighley, BD21 4BZ. |
RELATED PARTY EXEMPTION |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
INVESTMENTS IN SUBSIDIARIES |
Investments in subsidiary undertakings are recognised at cost. |
TAXATION |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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. |
PFF PACKAGING GROUP LIMITED (REGISTERED NUMBER: 05897559) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 AUGUST 2021 TO 31 JANUARY 2023 |
2. | ACCOUNTING POLICIES - continued |
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 period 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertaking |
£ |
COST |
At 1 August 2021 |
Additions |
At 31 January 2023 |
NET BOOK VALUE |
At 31 January 2023 |
At 31 July 2021 |
5. | DEBTORS |
2023 | 2021 |
£ | £ |
Amounts falling due within one year: |
Amounts owed by group undertakings |
Other debtors |
PFF PACKAGING GROUP LIMITED (REGISTERED NUMBER: 05897559) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 AUGUST 2021 TO 31 JANUARY 2023 |
5. | DEBTORS - continued |
2023 | 2021 |
£ | £ |
Amounts falling due after more than one year: |
Other debtors |
Aggregate amounts |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2021 |
£ | £ |
Amounts owed to group undertakings |
Amounts owed to related parties | 381,126 | 354,617 |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2021 |
£ | £ |
Other creditors |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2021 |
£ | £ |
Related party loan | 381,126 | 354,617 |
The related party loan is secured on the assets of J&H Property Management Limited, a company that is under the control of Mr A Bairstow and Mrs M Bairstow plus a debenture over the group assets. |
9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
10. | CONTINGENT LIABILITIES |
The companys' finance providers hold as security cross guarantee's against the borrowings of other group companies. As at 31 January 2023 this liability amounted to £6,328,968 (2021: £5,232,091). |
PFF PACKAGING GROUP LIMITED (REGISTERED NUMBER: 05897559) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 AUGUST 2021 TO 31 JANUARY 2023 |
11. | RELATED PARTY DISCLOSURES |
Mr A Bairstow and Mrs M Bairstow through their control over the majority of shares in the parent company, and together with their involvement in its day to day management, are deemed to be the controlling parties for the purposes of Financial Reporting Standard No. 102. |
12. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is |