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REGISTERED NUMBER: 04312432 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

FOR

SMART PACKAGING LIMITED

SMART PACKAGING LIMITED (REGISTERED NUMBER: 04312432)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SMART PACKAGING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2023







DIRECTORS: M G Olds
T J Walters





SECRETARY: T H Walters





REGISTERED OFFICE: Units19 - 22 Lavenham Road
Beeches Industrial Estate
Yate
Bristol
BS37 5QX





REGISTERED NUMBER: 04312432 (England and Wales)





ACCOUNTANTS: Lawes & Co
Boyce's Building
40-42 Regent Street
Clifton
Bristol
BS8 4HU

SMART PACKAGING LIMITED (REGISTERED NUMBER: 04312432)

BALANCE SHEET
30 SEPTEMBER 2023

30.9.23 30.9.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,050,869 1,220,318

CURRENT ASSETS
Stocks 205,600 222,086
Debtors 5 973,092 1,091,817
Cash at bank and in hand 125,980 253,585
1,304,672 1,567,488
CREDITORS
Amounts falling due within one year 6 1,291,178 1,383,591
NET CURRENT ASSETS 13,494 183,897
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,064,363

1,404,215

CREDITORS
Amounts falling due after more than
one year

7

(258,150

)

(448,623

)

PROVISIONS FOR LIABILITIES 10 (252,789 ) (222,659 )
NET ASSETS 553,424 732,933

CAPITAL AND RESERVES
Called up share capital 11 20,000 20,000
Retained earnings 533,424 712,933
SHAREHOLDERS' FUNDS 553,424 732,933

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

SMART PACKAGING LIMITED (REGISTERED NUMBER: 04312432)

BALANCE SHEET - continued
30 SEPTEMBER 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 Board of Directors and authorised for issue on 31 January 2024 and were signed on its behalf by:




T J Walters - Director



M G Olds - Director


SMART PACKAGING LIMITED (REGISTERED NUMBER: 04312432)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

1. STATUTORY INFORMATION

Smart 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.
Improvements to property - 10% on cost
Plant & Machinery - 15% on reducing balance
Furniture & Fittings - 25% on reducing balance and 15% on cost
Motor vehicles - 25% on reducing balance

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 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.

SMART PACKAGING LIMITED (REGISTERED NUMBER: 04312432)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2. ACCOUNTING POLICIES - continued

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.

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 29 (2022 - 29 ) .

4. TANGIBLE FIXED ASSETS
Improvements
to Plant & Furniture Motor
property Machinery & Fittings vehicles Totals
£    £    £    £    £   
COST
At 1 October 2022 234,762 2,548,491 127,075 263,110 3,173,438
Additions - 1,800 17,124 35,824 54,748
Disposals - - (16,911 ) (14,000 ) (30,911 )
At 30 September 2023 234,762 2,550,291 127,288 284,934 3,197,275
DEPRECIATION
At 1 October 2022 160,030 1,624,928 103,681 64,481 1,953,120
Charge for year 19,268 138,702 8,490 52,286 218,746
Eliminated on disposal - - (13,309 ) (12,151 ) (25,460 )
At 30 September 2023 179,298 1,763,630 98,862 104,616 2,146,406
NET BOOK VALUE
At 30 September 2023 55,464 786,661 28,426 180,318 1,050,869
At 30 September 2022 74,732 923,563 23,394 198,629 1,220,318

SMART PACKAGING LIMITED (REGISTERED NUMBER: 04312432)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant & Motor
Machinery vehicles Totals
£    £    £   
COST
At 1 October 2022 1,735,505 77,046 1,812,551
Disposals - (14,000 ) (14,000 )
At 30 September 2023 1,735,505 63,046 1,798,551
DEPRECIATION
At 1 October 2022 938,062 24,799 962,861
Charge for year 119,616 11,077 130,693
Eliminated on disposal - (12,151 ) (12,151 )
At 30 September 2023 1,057,678 23,725 1,081,403
NET BOOK VALUE
At 30 September 2023 677,827 39,321 717,148
At 30 September 2022 797,443 52,247 849,690

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Trade debtors 849,637 969,152
Other debtors 123,455 122,665
973,092 1,091,817

The factoring company has a charge over the company's trade debtors.

SMART PACKAGING LIMITED (REGISTERED NUMBER: 04312432)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Bank loans and overdrafts 50,000 50,000
Hire purchase contracts (see note 8) 140,327 144,707
Trade creditors 685,236 932,282
Tax 156,154 137,059
Social security and other taxes 20,606 19,033
VAT 85,351 91,767
Other creditors 179 1,423
Factoring Company 89,218 (83,336 )
Directors' current accounts 172 1,348
Accrued expenses 63,935 89,308
1,291,178 1,383,591

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30.9.23 30.9.22
£    £   
Bank loans - 2-5 years 116,667 166,667
Hire purchase contracts (see note 8) 141,483 281,956
258,150 448,623

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
30.9.23 30.9.22
£    £   
Net obligations repayable:
Within one year 140,327 144,707
Between one and five years 141,483 281,956
281,810 426,663

Amounts due under hire purchase contracts are secured against the assets to which they relate.

SMART PACKAGING LIMITED (REGISTERED NUMBER: 04312432)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023

8. LEASING AGREEMENTS - continued

Non-cancellable operating leases
30.9.23 30.9.22
£    £   
Within one year 233,763 214,032
Between one and five years 77,920 285,376
311,683 499,408

9. SECURED DEBTS

The following secured debts are included within creditors:

30.9.23 30.9.22
£    £   
CBILS 166,667 216,667

Barclays Security Trustee Limited has a fixed and floating charge over all property and undertaking of the company.

Barclays Bank PLC has an all assets debenture that includes fixed and floating charges over the undertaking and all property and assets. Further information is available at Companies House.

10. PROVISIONS FOR LIABILITIES
30.9.23 30.9.22
£    £   
Deferred tax
Accelerated capital allowances 252,789 222,659

Deferred
tax
£   
Balance at 1 October 2022 222,659
Reversal of timing differences 30,130
Balance at 30 September 2023 252,789

SMART PACKAGING LIMITED (REGISTERED NUMBER: 04312432)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.23 30.9.22
value: £    £   
10,000 Ordinary 'A' £1 10,000 10,000
10,000 Ordinary 'B' £1 10,000 10,000
20,000 20,000

12. RELATED PARTY DISCLOSURES

The company maintains an interest free loan accounts with its directors. At the year end, the company owed the directors £172 (2022:£1,348).

13. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.