IRIS Accounts Production v23.3.1.45 01598839 director 1.4.22 31.3.23 31.3.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure015988392022-03-31015988392023-03-31015988392022-04-012023-03-31015988392021-03-31015988392021-04-012022-03-31015988392022-03-3101598839ns16:EnglandWales2022-04-012023-03-3101598839ns15:PoundSterling2022-04-012023-03-3101598839ns11:Director12022-04-012023-03-3101598839ns11:PrivateLimitedCompanyLtd2022-04-012023-03-3101598839ns11:SmallEntities2022-04-012023-03-3101598839ns11:AuditExempt-NoAccountantsReport2022-04-012023-03-3101598839ns11:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3101598839ns11:SmallCompaniesRegimeForAccounts2022-04-012023-03-3101598839ns11:AbridgedAccounts2022-04-012023-03-3101598839ns11:RegisteredOffice2022-04-012023-03-3101598839ns6:CurrentFinancialInstruments2023-03-3101598839ns6:CurrentFinancialInstruments2022-03-3101598839ns6:Non-currentFinancialInstruments2023-03-3101598839ns6:Non-currentFinancialInstruments2022-03-3101598839ns6:ShareCapital2023-03-3101598839ns6:ShareCapital2022-03-3101598839ns6:RetainedEarningsAccumulatedLosses2023-03-3101598839ns6:RetainedEarningsAccumulatedLosses2022-03-3101598839ns6:Secured2023-03-3101598839ns6:Secured2022-03-31
REGISTERED NUMBER: 01598839 (England and Wales)















Blair Packaging Limited

Unaudited Financial Statements for the Year Ended 31 March 2023






Blair Packaging Limited (Registered number: 01598839)






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




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Blair Packaging Limited

Company Information
for the Year Ended 31 March 2023







DIRECTOR: Mr B Cameron





REGISTERED OFFICE: 71-73 Hoghton Street
Southport
Merseyside
PR9 0PR





REGISTERED NUMBER: 01598839 (England and Wales)





ACCOUNTANTS: Advance Chartered Accountants
71-73 Hoghton Street
Southport
Merseyside
PR9 0PR

Blair Packaging Limited (Registered number: 01598839)

Abridged Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 69,352 98,222

CURRENT ASSETS
Stocks 336,415 347,600
Debtors 1,107,038 951,403
Cash at bank and in hand 38,438 29,322
1,481,891 1,328,325
CREDITORS
Amounts falling due within one year 1,012,387 974,048
NET CURRENT ASSETS 469,504 354,277
TOTAL ASSETS LESS CURRENT
LIABILITIES

538,856

452,499

CREDITORS
Amounts falling due after more than one
year

(406,199

)

(335,218

)

PROVISIONS FOR LIABILITIES (14,492 ) (14,855 )
NET ASSETS 118,165 102,426

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 108,165 92,426
SHAREHOLDERS' FUNDS 118,165 102,426

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 director acknowledges his 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.

Blair Packaging Limited (Registered number: 01598839)

Abridged 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the director and authorised for issue on 22 June 2023 and were signed by:





Mr B Cameron - Director


Blair Packaging Limited (Registered number: 01598839)

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

1. STATUTORY INFORMATION

Blair 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
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102"), as adapted by Section 1A of FRS 102, and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated
useful life.

Freehold property- 2% on cost
Plant and machinery- 15% on reducing balance
Land- No depreciation
Motor vehicles- 25% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sales proceeds and the carrying value of the asset and is credited or charged to profit or loss.

Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

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

Cash at bank and in hand
Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Blair Packaging Limited (Registered number: 01598839)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

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


Blair Packaging Limited (Registered number: 01598839)

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

Assets acquired under finance leases are capitalised and depreciated over the shorter of the lease term and the expected useful life of the asset. Minimum lease payments are apportioned between the finance charge and the reduction of the outstanding lease liability using the effective interest method. The related obligations, net of future finance charges, are included in creditors.

Rentals payable and receivable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 10 ) .

Blair Packaging Limited (Registered number: 01598839)

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

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2022 451,185
Additions 5,000
Disposals (22,850 )
At 31 March 2023 433,335
DEPRECIATION
At 1 April 2022 352,963
Charge for year 15,780
Eliminated on disposal (4,760 )
At 31 March 2023 363,983
NET BOOK VALUE
At 31 March 2023 69,352
At 31 March 2022 98,222

5. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 462,284 395,710
Hire purchase contracts 19,983 26,911
Invoice factoring 417,568 365,648
899,835 788,269

Loans and invoice factoring are secured by a fixed and floating charge over the assets of the company. Hire purchase liabilities are secured on the assets to which they relate.