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REGISTERED NUMBER: 03970189 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Packserve Limited

Packserve Limited (Registered number: 03970189)






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


Packserve Limited

Company Information
for the Year Ended 31 March 2023







DIRECTOR: B N Grime





SECRETARY: Mrs J Grime





REGISTERED OFFICE: Pitville Street
Darwen
Lancashire
BB3 1HJ





REGISTERED NUMBER: 03970189 (England and Wales)





ACCOUNTANTS: Egan Roberts Limited
Accountants
Suite 46
Manor Court
Salesbury Hall Road
Ribchester
Lancashire
PR3 3XR

Packserve Limited (Registered number: 03970189)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 14,236 10,908

CURRENT ASSETS
Debtors 5 36,015 48,514
Cash at bank and in hand 328,801 182,483
364,816 230,997
CREDITORS
Amounts falling due within one year 6 232,964 61,727
NET CURRENT ASSETS 131,852 169,270
TOTAL ASSETS LESS CURRENT
LIABILITIES

146,088

180,178

CREDITORS
Amounts falling due after more than one
year

7

-

(39,586

)

PROVISIONS FOR LIABILITIES (2,705 ) (2,073 )
NET ASSETS 143,383 138,519

CAPITAL AND RESERVES
Called up share capital 8 63 63
Retained earnings 143,320 138,456
SHAREHOLDERS' FUNDS 143,383 138,519

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.

Packserve Limited (Registered number: 03970189)

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 October 2023 and were signed by:





B N Grime - Director


Packserve Limited (Registered number: 03970189)

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

1. STATUTORY INFORMATION

Packserve 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical 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.
Improvements to property - 10% on cost
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

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.

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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Packserve Limited (Registered number: 03970189)

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

2. ACCOUNTING POLICIES - continued

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.

Long term contracts
Turnover on long term contracts is determined by the stage of completion of the contract on the based on a valuation of the work to date.

Operating profit includes attributable profit on long term contracts and amounts recoverable on contracts not yet completed, which are included under debtors due within one year. Payments in excess of the stage of completion of the contract are shown as payments in advance and are shown under creditors falling due within one year.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 25,474 33,511 32,376 614 91,975
Additions - - 6,000 - 6,000
Disposals - - (1,000 ) - (1,000 )
At 31 March 2023 25,474 33,511 37,376 614 96,975
DEPRECIATION
At 1 April 2022 25,474 27,372 28,170 51 81,067
Charge for year - 921 1,552 186 2,659
Eliminated on disposal - - (987 ) - (987 )
At 31 March 2023 25,474 28,293 28,735 237 82,739
NET BOOK VALUE
At 31 March 2023 - 5,218 8,641 377 14,236
At 31 March 2022 - 6,139 4,206 563 10,908

Packserve Limited (Registered number: 03970189)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 35,829 48,275
Prepayments 186 239
36,015 48,514

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 9,526
Trade creditors 941 941
Tax 5,180 11,776
Social security and other taxes 52,703 12,219
Other creditors 13,229 6,159
Directors' current accounts 19,447 19,071
Payments in advance 139,429 -
Accrued expenses 2,035 2,035
232,964 61,727

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years - 9,767
Bank loans - 2-5 years - 29,819
- 39,586

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
58 Ordinary £1 58 58
3 Ordinary A £1 3 3
2 Ordinary B £1 2 2
63 63