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REGISTERED NUMBER: 05046387 (England and Wales)















DAYWORTH PACKAGING LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






DAYWORTH PACKAGING LIMITED (REGISTERED NUMBER: 05046387)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DAYWORTH PACKAGING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: D S Elsworth
E J Elsworth





SECRETARY: E J Elsworth





REGISTERED OFFICE: Unit B
Trecenydd Business Park
CAERPHILLY
Caerphilly
CF83 2RZ





REGISTERED NUMBER: 05046387 (England and Wales)





ACCOUNTANTS: MHA (trading name of MacIntyre Hudson LLP)
Limited liability partnership in England & Wales
Registered number OC312313
Elfed House
Oak Tree Court
Cardiff Gate Business Park
CARDIFF
County of Cardiff
CF23 8RS

DAYWORTH PACKAGING LIMITED (REGISTERED NUMBER: 05046387)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 - 5,000
Tangible assets 5 64,672 45,388
64,672 50,388

CURRENT ASSETS
Stocks 6 79,782 71,782
Debtors 7 166,786 242,991
Cash at bank and in hand 126,150 107,862
372,718 422,635
CREDITORS
Amounts falling due within one year 8 (190,701 ) (191,557 )
NET CURRENT ASSETS 182,017 231,078
TOTAL ASSETS LESS CURRENT
LIABILITIES

246,689

281,466

CREDITORS
Amounts falling due after more than one
year

9

(12,632

)

(25,263

)

PROVISIONS FOR LIABILITIES (12,288 ) (11,347 )
NET ASSETS 221,769 244,856

CAPITAL AND RESERVES
Called up share capital 10,003 10,003
Capital redemption reserve 34,000 34,000
Retained earnings 177,766 200,853
SHAREHOLDERS' FUNDS 221,769 244,856

DAYWORTH PACKAGING LIMITED (REGISTERED NUMBER: 05046387)

BALANCE SHEET - continued
31 MARCH 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

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 for issue by the Board of Directors and authorised for issue on 24 July 2024 and were signed on its behalf by:





D S Elsworth - Director


DAYWORTH PACKAGING LIMITED (REGISTERED NUMBER: 05046387)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Dayworth 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 company's functional and presentational currency in the financial statements is the Sterling (£), rounded to the nearest pound.

The significant accounting policies applied in the presentation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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.

There have been no material departures from Financial Reporting Standard 102 Section 1A.

Turnover
Turnover represents amounts invoiced during the year in respect of the manufacture and supply of packaging goods, exclusive of Value Added Tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of twenty years.

Based on the performance of the company since acquisition, the directors consider that the useful economic life of goodwill is still valid.

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.

Tangible fixed assets
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Plant & machinery- 20% reducing balance
Fixtures & fittings- 20% reducing balance
Motor vehicles- 25% reducing balance
Computer equipment- 20% 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 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.


DAYWORTH PACKAGING LIMITED (REGISTERED NUMBER: 05046387)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


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.

Non-derivative financial instruments
Non-derivative financial instruments comprise trade and other debtors, cash and cash equivalents, trade and other creditors and interest free loans.

Unless otherwise stated, the carrying value of the company's financial assets and liabilities are a reasonable approximation of their fair values.

Debtors and creditors receivable / payable within one year


Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Cash and cash equivalents
Cash and cash equivalents in the balance sheet comprise cash at bank and in hand.

Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

Grants
Grants towards capital expenditure are treated as deferred income in the balance sheet and written off over a period of five years in the profit and loss account.

Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Sales financing
Separate presentation has been adopted in respect of sales financing. Debtors are included within assets and the corresponding liability in respect of the proceeds received from the factor are included within liabilities. Sales financing charges are recognised as they accrue and are included in the profit and loss account with other interest charges.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 10 ) .

DAYWORTH PACKAGING LIMITED (REGISTERED NUMBER: 05046387)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 100,000
AMORTISATION
At 1 April 2023 95,000
Amortisation for year 5,000
At 31 March 2024 100,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 5,000

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
Machinery Fittings Vehicles Equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 70,461 22,206 37,475 34,107 164,249
Additions 23,377 1,317 - 4,764 29,458
At 31 March 2024 93,838 23,523 37,475 38,871 193,707
DEPRECIATION
At 1 April 2023 51,618 18,410 25,864 22,969 118,861
Charge for year 3,889 850 2,903 2,532 10,174
At 31 March 2024 55,507 19,260 28,767 25,501 129,035
NET BOOK VALUE
At 31 March 2024 38,331 4,263 8,708 13,370 64,672
At 31 March 2023 18,843 3,796 11,611 11,138 45,388

6. STOCKS
2024 2023
£    £   
Stocks 79,782 71,782

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 166,781 239,483
Other debtors 5 253
Prepayments and accrued income - 3,255
166,786 242,991

A total of £161,728 (2023: £238,063) included in trade debtors has been approved by and assigned to a factoring company.

DAYWORTH PACKAGING LIMITED (REGISTERED NUMBER: 05046387)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 12,632 12,632
Trade creditors 113,666 67,528
Corporation tax 9,047 18,020
PAYE and social security 4,120 3,384
VAT 13,657 22,435
Other creditors 1,601 4,286
Bank factoring account 30,495 60,459
Directors' current accounts 2,483 213
Accruals and deferred income 3,000 2,600
190,701 191,557

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans due > 1 year 12,632 25,263

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 25,264 37,895

11. OTHER FINANCIAL COMMITMENTS

The company had total guarantees and commitments at the balance sheet date of £7,656 (2023: £14,635).