Silverfin false 30/04/2023 01/05/2022 30/04/2023 A.P. Collins C D Collins 20/01/2015 K. Maddison 20/01/2015 R.G. Maddison A Pezzani 14/05/2022 30/03/2020 28 November 2023 The principal activity of the Company during the financial year was the manufacturing of electronic industrial process control equipment. 01969519 2023-04-30 01969519 bus:Director2 2023-04-30 01969519 bus:Director3 2023-04-30 01969519 bus:Director5 2023-04-30 01969519 2022-04-30 01969519 core:CurrentFinancialInstruments 2023-04-30 01969519 core:CurrentFinancialInstruments 2022-04-30 01969519 core:Non-currentFinancialInstruments 2023-04-30 01969519 core:Non-currentFinancialInstruments 2022-04-30 01969519 core:ShareCapital 2023-04-30 01969519 core:ShareCapital 2022-04-30 01969519 core:CapitalRedemptionReserve 2023-04-30 01969519 core:CapitalRedemptionReserve 2022-04-30 01969519 core:OtherCapitalReserve 2023-04-30 01969519 core:OtherCapitalReserve 2022-04-30 01969519 core:RetainedEarningsAccumulatedLosses 2023-04-30 01969519 core:RetainedEarningsAccumulatedLosses 2022-04-30 01969519 core:PlantMachinery 2022-04-30 01969519 core:Vehicles 2022-04-30 01969519 core:FurnitureFittings 2022-04-30 01969519 core:PlantMachinery 2023-04-30 01969519 core:Vehicles 2023-04-30 01969519 core:FurnitureFittings 2023-04-30 01969519 core:CurrentFinancialInstruments 10 2023-04-30 01969519 core:CurrentFinancialInstruments 10 2022-04-30 01969519 bus:OrdinaryShareClass1 2023-04-30 01969519 bus:OrdinaryShareClass2 2023-04-30 01969519 2022-05-01 2023-04-30 01969519 bus:FullAccounts 2022-05-01 2023-04-30 01969519 bus:SmallEntities 2022-05-01 2023-04-30 01969519 bus:AuditExemptWithAccountantsReport 2022-05-01 2023-04-30 01969519 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 01969519 bus:Director1 2022-05-01 2023-04-30 01969519 bus:Director2 2022-05-01 2023-04-30 01969519 bus:Director3 2022-05-01 2023-04-30 01969519 bus:Director4 2022-05-01 2023-04-30 01969519 bus:Director5 2022-05-01 2023-04-30 01969519 core:PlantMachinery core:TopRangeValue 2022-05-01 2023-04-30 01969519 core:Vehicles core:TopRangeValue 2022-05-01 2023-04-30 01969519 core:FurnitureFittings core:TopRangeValue 2022-05-01 2023-04-30 01969519 2021-05-01 2022-04-30 01969519 core:PlantMachinery 2022-05-01 2023-04-30 01969519 core:Vehicles 2022-05-01 2023-04-30 01969519 core:FurnitureFittings 2022-05-01 2023-04-30 01969519 core:Non-currentFinancialInstruments 2022-05-01 2023-04-30 01969519 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 01969519 bus:OrdinaryShareClass1 2021-05-01 2022-04-30 01969519 bus:OrdinaryShareClass2 2022-05-01 2023-04-30 01969519 bus:OrdinaryShareClass2 2021-05-01 2022-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 01969519 (England and Wales)

M. & A. PACKAGING SERVICES LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2023
Pages for filing with the registrar

M. & A. PACKAGING SERVICES LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2023

Contents

M. & A. PACKAGING SERVICES LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 April 2023
M. & A. PACKAGING SERVICES LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 April 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 20,598 12,484
20,598 12,484
Current assets
Stocks 159,479 181,889
Debtors 4 367,620 249,701
Cash at bank and in hand 172,505 185,214
699,604 616,804
Creditors: amounts falling due within one year 5 ( 390,471) ( 303,225)
Net current assets 309,133 313,579
Total assets less current liabilities 329,731 326,063
Creditors: amounts falling due after more than one year 6 ( 29,929) ( 39,352)
Provision for liabilities ( 3,602) ( 1,234)
Net assets 296,200 285,477
Capital and reserves
Called-up share capital 7 392 408
Capital redemption reserve ( 24,984 ) 0
Other reserves 90 90
Profit and loss account 320,702 284,979
Total shareholders' funds 296,200 285,477

For the financial year ending 30 April 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of M. & A. Packaging Services Limited (registered number: 01969519) were approved and authorised for issue by the Director on 28 November 2023. They were signed on its behalf by:

A.P. Collins
Director
M. & A. PACKAGING SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2023
M. & A. PACKAGING SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

M. & A. Packaging Services Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Spring Lane North, Malvern, Worcestershire, WR14 1BU, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, 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.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Plant and machinery 5 years straight line
Vehicles 4 years straight line
Fixtures and fittings 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

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.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 11 14

3. Tangible assets

Plant and machinery Vehicles Fixtures and fittings Total
£ £ £ £
Cost
At 01 May 2022 6,736 11,500 38,401 56,637
Additions 0 19,629 0 19,629
Disposals ( 3,394) 0 ( 18,197) ( 21,591)
At 30 April 2023 3,342 31,129 20,204 54,675
Accumulated depreciation
At 01 May 2022 5,635 7,906 30,612 44,153
Charge for the financial year 278 5,738 5,499 11,515
Disposals ( 3,394) 0 ( 18,197) ( 21,591)
At 30 April 2023 2,519 13,644 17,914 34,077
Net book value
At 30 April 2023 823 17,485 2,290 20,598
At 30 April 2022 1,101 3,594 7,789 12,484

4. Debtors

2023 2022
£ £
Trade debtors 366,085 229,982
Other taxation and social security 0 19,719
Other debtors 1,535 0
367,620 249,701

5. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 10,648 10,648
Trade creditors 50,107 110,688
Amounts owed to directors 55,337 94,004
Accruals and deferred income 163,686 2,450
Taxation and social security 106,349 82,253
Other creditors 4,344 3,182
390,471 303,225

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 29,929 39,352

There are no amounts included above in respect of which any security has been given by the small entity.

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
272 Ordinary A shares of £ 1.00 each (2022: 288 shares of £ 1.00 each) 272 288
120 Ordinary B shares of £ 1.00 each 120 120
392 408

During the year, 16 Ordinary A shares were purchased by the company.

8. Related party transactions

Transactions with the entity's directors

2023 2022
£ £
Amounts owed to directors 55,337 94,004

During the year, dividends were paid to the directors totalling £114,240 (2022 : £122,400).