Acorah Software Products - Accounts Production 15.0.600 false true true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 04970899 Ms Lisa Bunn Mr Sujan Shah Mr Sujan Shah 29 The Green, London, N21 1HS true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04970899 2022-12-31 04970899 2023-12-31 04970899 2023-01-01 2023-12-31 04970899 frs-core:CurrentFinancialInstruments 2023-12-31 04970899 frs-core:ComputerEquipment 2023-12-31 04970899 frs-core:ComputerEquipment 2023-01-01 2023-12-31 04970899 frs-core:ComputerEquipment 2022-12-31 04970899 frs-core:MotorVehicles 2023-01-01 2023-12-31 04970899 frs-core:PlantMachinery 2023-12-31 04970899 frs-core:PlantMachinery 2023-01-01 2023-12-31 04970899 frs-core:PlantMachinery 2022-12-31 04970899 frs-core:ShareCapital 2023-12-31 04970899 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 04970899 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04970899 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 04970899 frs-bus:SmallEntities 2023-01-01 2023-12-31 04970899 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 04970899 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 04970899 1 2023-01-01 2023-12-31 04970899 frs-bus:Director1 2023-01-01 2023-12-31 04970899 frs-bus:Director2 2023-01-01 2023-12-31 04970899 frs-countries:EnglandWales 2023-01-01 2023-12-31 04970899 2021-12-31 04970899 2022-12-31 04970899 2022-01-01 2022-12-31 04970899 frs-core:CurrentFinancialInstruments 2022-12-31 04970899 frs-core:BetweenOneFiveYears 2022-12-31 04970899 frs-core:WithinOneYear 2022-12-31 04970899 frs-core:ShareCapital 2022-12-31 04970899 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 04970899
Packaging Direct Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2023
Mostons
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04970899
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 18,002 24,124
18,002 24,124
CURRENT ASSETS
Stocks 5 750 3,562
Debtors 6 32,730 55,761
Cash at bank and in hand 32,384 23,280
65,864 82,603
Creditors: Amounts Falling Due Within One Year 7 (35,411 ) (11,474 )
NET CURRENT ASSETS (LIABILITIES) 30,453 71,129
TOTAL ASSETS LESS CURRENT LIABILITIES 48,455 95,253
NET ASSETS 48,455 95,253
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 48,355 95,153
SHAREHOLDERS' FUNDS 48,455 95,253
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For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Ms Lisa Bunn
Director
14/06/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Packaging Direct Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 04970899 . The registered office is 29 The Green, Winchmore Hill, London, N21 1HS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
Having regard to the continued financial support of the directors, the going concern basis continues to be adopted in preparing the accounts
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Written down value
Motor Vehicles 25% Written down value
Computer Equipment 33% straight line
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2022: 4)
4 4
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4. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 January 2023 120,520 345 120,865
Disposals - (345 ) (345 )
As at 31 December 2023 120,520 - 120,520
Depreciation
As at 1 January 2023 96,517 224 96,741
Provided during the period 6,001 121 6,122
Disposals - (345 ) (345 )
As at 31 December 2023 102,518 - 102,518
Net Book Value
As at 31 December 2023 18,002 - 18,002
As at 1 January 2023 24,003 121 24,124
5. Stocks
2023 2022
£ £
Materials 750 3,562
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 32,730 55,761
32,730 55,761
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 21,839 4,240
Other taxes and social security 3,343 1,903
VAT 8,692 4,763
Net wages 637 568
Accruals and deferred income 900 -
35,411 11,474
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
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9. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2023 2022
£ £
Not later than one year - 27,240
Later than one year and not later than five years - 84,240
- 111,480
10. Related Party Transactions
During the year, the company traded with the following group companies which are also subsidiaries of Rocaba Investment Group Limited, the ultimate parent company.
Sales invoices raised to:
Rocaba Packaging Ltd £103,264 (2022 £104,325)
Purchase made through:
Rocaba Packaging Ltd £21,483 (2022 £16,081)
Balances outstanding at the 31st December 2023:
Owed by Rocaba Packaging Ltd £18,806 (2022 £38,059)
Owed to Rocaba Packaging Ltd £15,539 (2022 £2,056)
The balances will be repaid within one year and as such directors' feel that it would incur undue cost and effort to record the loan at its present value. Thus, it has been recorded at it transactional value.
11. Ultimate Parent Undertaking and Controlling Party
The company's immediate and ultimate parent undertaking is Rocaba Investment Group Limited . Rocaba Investment Group Limited was incorporated in (England & Wales). The ultimate controlling party is Mr Sujan Shah who controls 60% of the shares of Packaging Direct Ltd .
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