Company Registration No. 12482844 (England and Wales)
FH PACKAGING LTD
Unaudited accounts
for the year ended 28 February 2023
FH PACKAGING LTD
Unaudited accounts
Contents
FH PACKAGING LTD
Company Information
for the year ended 28 February 2023
Company Number
12482844 (England and Wales)
Registered Office
Units 3A & 3B Castle hill
Bredbury Parkway
Stockport
SK6 2SU
United Kingdom
Accountants
RFM Associates
10 Carew Way
Watford
WD19 5GB
FH PACKAGING LTD
Statement of financial position
as at 28 February 2023
Inventories
451,346
530,774
Cash at bank and in hand
7,807
30,052
Creditors: amounts falling due within one year
(1,010,368)
(786,528)
Net current liabilities
(357,314)
(166,874)
Net liabilities
(357,314)
(166,874)
Called up share capital
100
100
Profit and loss account
(357,414)
(166,974)
Shareholders' funds
(357,314)
(166,874)
For the year ending 28 February 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 his 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 23 November 2023 and were signed on its behalf by
Gang Wu
Director
Company Registration No. 12482844
FH PACKAGING LTD
Notes to the Accounts
for the year ended 28 February 2023
FH PACKAGING LTD is a private company, limited by shares, registered in England and Wales, registration number 12482844. The registered office is Units 3A & 3B Castle hill, Bredbury Parkway, Stockport, SK6 2SU, United Kingdom.
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.
The company is reliant upon the support of a shareholder, which has confirmed that it will continue to provide support for the foreseeable future to enable the company to meet its obligations as they fall due and will not request payment of amounts due until the company is in a position to do so. At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the next 12 months. Thus the director has prepared the financial statements on a going concern basis.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax. 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.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Finished goods
451,346
530,774
FH PACKAGING LTD
Notes to the Accounts
for the year ended 28 February 2023
Amounts falling due within one year
Trade debtors
108,365
42,386
Other debtors
85,536
16,442
6
Creditors: amounts falling due within one year
2023
2022
Trade creditors
934,515
726,628
Other creditors
75,853
59,900
7
Transactions with related parties
During the year, the company made purchases of £109,086 (2022: £305,281) and payment of £50,322 (2022: £437,260) from/ to Wolfgang Technology Co. Ltd, a shareholder of FH Packaging Ltd. At the year end, the company owed £590,278 (2022: £531,514) to Wolfgang Technology Co. Ltd. This amount is included within creditors due within one year, is interest free and repayable on demand.
Directors' transactions
During the year, the director of the company, loaned £Nil (2022: £Nil) to the company and withdrew £Nil (2022: £Nil). As at end of the period, the company owed £16,400 (2022: £16,400) to the director. The loan is interest free and repayable on demand.
8
Average number of employees
During the year the average number of employees was 2 (2022: 2).