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REGISTERED NUMBER: 02688073 (England and Wales)











Unaudited Financial Statements

for the Year Ended 30 June 2023

for

PEAK PACKAGING LIMITED

PEAK PACKAGING LIMITED (REGISTERED NUMBER: 02688073)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PEAK PACKAGING LIMITED

Company Information
for the Year Ended 30 June 2023







DIRECTOR: R W Wheatley





REGISTERED OFFICE: Gilmer House
Manners Avenue
Ilkeston
Derbyshire
DE7 8EF





REGISTERED NUMBER: 02688073 (England and Wales)





ACCOUNTANTS: Maths Partnership
1 Brook Court
Blakeney Road
Beckenham
Kent
BR3 1HG

PEAK PACKAGING LIMITED (REGISTERED NUMBER: 02688073)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 422,611 470,197

CURRENT ASSETS
Stocks 5 354,113 641,459
Debtors 6 1,545,755 1,601,440
Cash at bank and in hand 75 2,241
1,899,943 2,245,140
CREDITORS
Amounts falling due within one year 7 1,104,365 1,561,467
NET CURRENT ASSETS 795,578 683,673
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,218,189

1,153,870

CREDITORS
Amounts falling due after more than one
year

8

(347,061

)

(406,676

)

PROVISIONS FOR LIABILITIES (74,294 ) (71,202 )
NET ASSETS 796,834 675,992

CAPITAL AND RESERVES
Called up share capital 442,700 442,700
Retained earnings 354,134 233,292
SHAREHOLDERS' FUNDS 796,834 675,992

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

PEAK PACKAGING LIMITED (REGISTERED NUMBER: 02688073)

Balance Sheet - continued
30 June 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 March 2024 and were signed by:





R W Wheatley - Director


PEAK PACKAGING LIMITED (REGISTERED NUMBER: 02688073)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Peak 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 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on cost
Computer equipment - 33% on cost

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

PEAK PACKAGING LIMITED (REGISTERED NUMBER: 02688073)

Notes to the Financial Statements - continued
for the Year Ended 30 June 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 36 (2022 - 38 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 July 2022 50,512 762,373 81,180 35,638 929,703
Additions 3,365 20,156 3,502 22,522 49,545
At 30 June 2023 53,877 782,529 84,682 58,160 979,248
DEPRECIATION
At 1 July 2022 - 351,035 74,107 34,364 459,506
Charge for year - 86,298 5,287 5,546 97,131
At 30 June 2023 - 437,333 79,394 39,910 556,637
NET BOOK VALUE
At 30 June 2023 53,877 345,196 5,288 18,250 422,611
At 30 June 2022 50,512 411,338 7,073 1,274 470,197

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 July 2022 143,500
Transfer to ownership 113,275
At 30 June 2023 256,775
DEPRECIATION
At 1 July 2022 57,313
Charge for year 35,362
Transfer to ownership 22,655
At 30 June 2023 115,330
NET BOOK VALUE
At 30 June 2023 141,445
At 30 June 2022 86,187

PEAK PACKAGING LIMITED (REGISTERED NUMBER: 02688073)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

5. STOCKS
30.6.23 30.6.22
£    £   
Finished goods 354,113 641,459

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 685,497 643,176
Amounts owed by group undertakings 684,857 770,758
Other debtors 175,401 187,506
1,545,755 1,601,440

All debtors are payable within one year and therefore have not been discounted.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans and overdrafts 194,228 100,000
Hire purchase contracts (see note 9) 47,930 38,635
Trade creditors 449,094 967,730
Taxation and social security 131,593 87,267
Other creditors 281,520 367,835
1,104,365 1,561,467

All creditors are payable within one year and therefore have not been discounted.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.23 30.6.22
£    £   
Bank loans 270,833 370,833
Hire purchase contracts (see note 9) 76,228 35,843
347,061 406,676

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 20,833 70,833

PEAK PACKAGING LIMITED (REGISTERED NUMBER: 02688073)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
30.6.23 30.6.22
£    £   
Gross obligations repayable:
Within one year 53,664 41,728
Between one and five years 87,416 39,453
141,080 81,181

Finance charges repayable:
Within one year 5,734 3,093
Between one and five years 11,188 3,610
16,922 6,703

Net obligations repayable:
Within one year 47,930 38,635
Between one and five years 76,228 35,843
124,158 74,478

Non-cancellable operating leases
30.6.23 30.6.22
£    £   
Within one year 5,063 9,819
Between one and five years 10,712 15,775
15,775 25,594

10. SECURED DEBTS

HSBC Invoice Finance Limited hold security over the trade debtors in note 9 amounting to £685,497 (£643,176 - 2022) for the invoices discounted. £241,001 (£327,894 - 2022) was due to HSBC Invoice Finance Limited at the year end.