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REGISTERED NUMBER: 04709272 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

FROMM PACKAGING LIMITED

FROMM PACKAGING LIMITED (REGISTERED NUMBER: 04709272)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


FROMM PACKAGING LIMITED

COMPANY INFORMATION
for the Year Ended 31 DECEMBER 2023







DIRECTORS: M H Schwarzenbach
R Fromm
Ms F Welsh





SECRETARY: M H Schwarzenbach





REGISTERED OFFICE: Unit 2B
Hedsor Park Farm
Heathfield Road
Taplow
Buckinghamshire
SL6 0FE





REGISTERED NUMBER: 04709272 (England and Wales)





AUDITORS: Just Audit Limited
Chartered Accountants & Statutory Auditors
Strelley Hall
Main Street
Strelley
Nottingham
NG8 6PE

FROMM PACKAGING LIMITED (REGISTERED NUMBER: 04709272)

BALANCE SHEET
31 DECEMBER 2023

31/12/23 31/12/22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 22,715 24,700
Tangible assets 5 4,094,057 4,078,280
4,116,772 4,102,980

CURRENT ASSETS
Stocks 2,060,497 2,829,420
Debtors 6 1,748,785 1,834,361
Investments 7 1,000,000 -
Cash at bank and in hand 672,435 2,055,629
5,481,717 6,719,410
CREDITORS
Amounts falling due within one year 8 1,260,088 2,067,616
NET CURRENT ASSETS 4,221,629 4,651,794
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,338,401

8,754,774

DEFERRED TAX 10 960,583 942,613
NET ASSETS 7,377,818 7,812,161

CAPITAL AND RESERVES
Called up share capital 11 3,100,000 3,100,000
Retained earnings 4,277,818 4,712,161
SHAREHOLDERS' FUNDS 7,377,818 7,812,161

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 Board of Directors and authorised for issue on 26 March 2024 and were signed on its behalf by:




M H Schwarzenbach - Director



Ms F Welsh - Director


FROMM PACKAGING LIMITED (REGISTERED NUMBER: 04709272)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 DECEMBER 2023

1. STATUTORY INFORMATION

Fromm 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover
Turnover represents the value of the sale of goods and services excluding value added tax. On rentals of assets to customers under operating leases, income is recognised on a straight line basis over the period of the lease. For other types of sales, income is recognised either at the date of despatch for goods or the date at which services have been rendered.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised at 15% reducing balance.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost, 15% on cost, 15% on reducing balance and Over term of the lease

Tangible fixed assets are stated at cost less accumulated depreciation and any recognised impairment loss.

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are reassessed annually. They are amended when necessary to reflect current estimates, future investments and the physical condition of the assets.

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

Net realisable value is based on selling price less anticipated costs to completion plus selling costs.

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.


FROMM PACKAGING LIMITED (REGISTERED NUMBER: 04709272)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 DECEMBER 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.

Foreign currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Pension costs and other post-retirement benefits
The company pays pension contributions into personal pension schemes held by employees. The amount charged against profits represents the contributions paid into their pension schemes in respect of the accounting period.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2022 - 22 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023 86,183
Additions 3,033
At 31 December 2023 89,216
AMORTISATION
At 1 January 2023 61,483
Charge for year 5,018
At 31 December 2023 66,501
NET BOOK VALUE
At 31 December 2023 22,715
At 31 December 2022 24,700

FROMM PACKAGING LIMITED (REGISTERED NUMBER: 04709272)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 DECEMBER 2023

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Other
property machinery fittings Equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 315,535 4,191,575 216,531 123,665 4,847,306
Additions - 140,036 - - 140,036
Disposals - (21,562 ) - - (21,562 )
At 31 December 2023 315,535 4,310,049 216,531 123,665 4,965,780
DEPRECIATION
At 1 January 2023 127,620 343,685 195,826 101,895 769,026
Charge for year 31,320 82,357 3,110 3,570 120,357
Eliminated on disposal - (17,660 ) - - (17,660 )
At 31 December 2023 158,940 408,382 198,936 105,465 871,723
NET BOOK VALUE
At 31 December 2023 156,595 3,901,667 17,595 18,200 4,094,057
At 31 December 2022 187,915 3,847,890 20,705 21,770 4,078,280

Included above are assets which are held under operating leases to customers with a cost of £4,310,049 (2022: £4,191,575) and accumulated depreciation of £408,382 (2022: £343,685).

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Trade debtors 1,369,999 1,458,903
Amounts owed by group undertakings 323,316 330,423
Other debtors 55,470 45,035
1,748,785 1,834,361

7. CURRENT ASSET INVESTMENTS
31/12/23 31/12/22
£    £   
Unlisted investments 1,000,000 -

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Bank loans and overdrafts 20 8
Trade creditors 146,262 212,119
Amounts owed to group undertakings 97,492 962,176
Taxation and social security 585,343 496,993
Other creditors 430,971 396,320
1,260,088 2,067,616

FROMM PACKAGING LIMITED (REGISTERED NUMBER: 04709272)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 DECEMBER 2023

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31/12/23 31/12/22
£    £   
Within one year 115,690 85,140
Between one and five years 71,017 39,233
186,707 124,373

10. DEFERRED TAX
31/12/23 31/12/22
£    £   
Deferred tax
Accelerated Capital Allowances 960,583 942,613

Deferred
tax
£   
Balance at 1 January 2023 942,613
Charge to Income Statement during year 17,970
Balance at 31 December 2023 960,583

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/12/23 31/12/22
value: £    £   
3,100,000 Ordinary £1 3,100,000 3,100,000

12. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Rachel Davis BA FCA (Senior Statutory Auditor)
for and on behalf of Just Audit Limited

13. PENSION COMMITMENTS

The company operates a defined contribution pension scheme and the assets of the scheme are held separately from those of the company in an independently administered fund. Costs charged in the period in respect of its contributions to the UK scheme were £44,765 (2022: £39,441) and at the end of the period accrued contributions were £Nil (2022: £Nil) in respect of such contributions.

14. CONSOLIDATION

The parent company of the smallest group that draws up consolidated financial statements which include the results for Fromm Packaging Limited is Reinhard Fromm Holding AG; its registered office address is Hinterbergstrasse 26, Steinhausen ZG 6312, Switzerland.