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REGISTERED NUMBER: 10038960 (England and Wales)











Financial Statements for the Year Ended 31 March 2023

for

PMC PACKAGING LIMITED

PMC PACKAGING LIMITED (REGISTERED NUMBER: 10038960)

Contents of the Financial Statements
for the Year Ended 31 March 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PMC PACKAGING LIMITED

Company Information
for the Year Ended 31 March 2023







DIRECTORS: P M Carter
N L Carter





SECRETARY: P M Carter





REGISTERED OFFICE: 10 Market Street
Chapel-en-le-Frith
High Peak
Derbyshire
SK23 0HH





REGISTERED NUMBER: 10038960 (England and Wales)





ACCOUNTANT: Mourne & Co
10 Market Street
Chapel-en-le-Frith
High Peak
Derbyshire
SK23 0HH

PMC PACKAGING LIMITED (REGISTERED NUMBER: 10038960)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 74,531 85,201

CURRENT ASSETS
Stocks 5 75,000 75,000
Debtors 6 128,061 222,904
Cash at bank 70,435 35,688
273,496 333,592
CREDITORS
Amounts falling due within one year 7 223,749 255,544
NET CURRENT ASSETS 49,747 78,048
TOTAL ASSETS LESS CURRENT
LIABILITIES

124,278

163,249

CREDITORS
Amounts falling due after more than one
year

8

46,340

56,739
NET ASSETS 77,938 106,510

CAPITAL AND RESERVES
Called up share capital 10 200 200
Retained earnings 11 77,738 106,310
SHAREHOLDERS' FUNDS 77,938 106,510

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

PMC PACKAGING LIMITED (REGISTERED NUMBER: 10038960)

Balance Sheet - continued
31 March 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 November 2023 and were signed on its behalf by:





P M Carter - Director


PMC PACKAGING LIMITED (REGISTERED NUMBER: 10038960)

Notes to the Financial Statements
for the Year Ended 31 March 2023


1. STATUTORY INFORMATION

PMC Packaging Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
The principal accounting policies adopted in the preparation of the financial statements are set out below.

The financial statements for the year ended 31 March 2019 are the first financial statements that comply with the provisions of Section 1A "Small Entities" of the Financial Reporting Standard 102. The date of transition is 1 April 2017.

The transition to Financial Reporting Standard 102 Section 1A "Small Entities" has resulted in a small number of changes in accounting policies to those used previously.

The financial statements have been prepared under the historic cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant & machinery - 10% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The following assets and liabilities are classified as financial instruments; trade debtors, trade creditors, bank loans and directors loans.

Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Directors loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

PMC PACKAGING LIMITED (REGISTERED NUMBER: 10038960)

Notes to the Financial Statements - continued
for the Year Ended 31 March 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 year 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Employee benefits
Short term employee benefits, including holiday pay, are recognised as an expense in the Statement of Income and Retained Earnings in the period in which they are incurred.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 7 ) .

4. TANGIBLE FIXED ASSETS
Plant & Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2022
and 31 March 2023 102,630 19,695 738 123,063
DEPRECIATION
At 1 April 2022 31,762 5,535 565 37,862
Charge for year 7,087 3,540 43 10,670
At 31 March 2023 38,849 9,075 608 48,532
NET BOOK VALUE
At 31 March 2023 63,781 10,620 130 74,531
At 31 March 2022 70,868 14,160 173 85,201

PMC PACKAGING LIMITED (REGISTERED NUMBER: 10038960)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant &
machinery
£   
COST
At 1 April 2022
and 31 March 2023 7,950
DEPRECIATION
At 1 April 2022 2,734
Charge for year 522
At 31 March 2023 3,256
NET BOOK VALUE
At 31 March 2023 4,694
At 31 March 2022 5,216

5. STOCKS
31.3.23 31.3.22
£    £   
Stocks 75,000 75,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 128,061 209,436
Prepayments - 13,468
128,061 222,904

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Hire purchase contracts 3,059 1,988
Trade creditors 197,976 228,642
Taxation - 3,366
Social security & other taxes 2,634 2,627
VAT 7,788 9,208
Directors' current accounts 2,779 -
Accrued expenses 9,513 9,713
223,749 255,544

PMC PACKAGING LIMITED (REGISTERED NUMBER: 10038960)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans (see note 9) 39,815 44,375
Hire purchase contracts 6,525 12,364
46,340 56,739

9. LOANS

An analysis of the maturity of loans is given below:

31.3.23 31.3.22
£    £   
Amounts falling due between two and five years:
Bank loans 39,815 44,375

10. CALLED UP SHARE CAPITAL



Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
100 Ordinary A £1.00 100 100
100 Ordinary B £1.00 100 100
200 200

11. RESERVES
Retained
earnings
£   

At 1 April 2022 106,310
Deficit for the year (28,572 )
At 31 March 2023 77,738

12. ULTIMATE CONTROLLING PARTY

The controlling party is P M Carter.

The ultimate controlling party is P M Carter.