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REGISTERED NUMBER: 04419905 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

DIRECT PACKAGING SOLUTIONS LTD

DIRECT PACKAGING SOLUTIONS LTD (REGISTERED NUMBER: 04419905)

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










Page

Balance Sheet 1

Notes to the Financial Statements 3


DIRECT PACKAGING SOLUTIONS LTD (REGISTERED NUMBER: 04419905)

BALANCE SHEET
30 NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 190,760 192,600
Investments 5 70 70
Investment property 6 245,019 -
435,849 192,670

CURRENT ASSETS
Stocks 584,088 770,106
Debtors 7 1,523,853 1,933,850
Cash at bank and in hand 324,002 307,923
2,431,943 3,011,879
CREDITORS
Amounts falling due within one year 8 1,973,397 2,222,116
NET CURRENT ASSETS 458,546 789,763
TOTAL ASSETS LESS CURRENT
LIABILITIES

894,395

982,433

CREDITORS
Amounts falling due after more than one year 9 (39,517 ) (73,196 )

PROVISIONS FOR LIABILITIES (33,319 ) -
NET ASSETS 821,559 909,237

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 811,559 899,237
SHAREHOLDERS' FUNDS 821,559 909,237

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

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

DIRECT PACKAGING SOLUTIONS LTD (REGISTERED NUMBER: 04419905)

BALANCE SHEET - continued
30 NOVEMBER 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 Board of Directors and authorised for issue on 27 August 2024 and were signed on its behalf by:





P B Ward - Director


DIRECT PACKAGING SOLUTIONS LTD (REGISTERED NUMBER: 04419905)

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


1. STATUTORY INFORMATION

Direct Packaging Solutions Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 04419905

Registered office: Grove Works Battersea Road
Heaton Mersey Ind Est
Stockport
Cheshire
SK4 3EA

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 as modified by the revaluation of certain assets.

Turnover
Turnover represents net invoiced supply of goods and services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Depreciation has not been provided on freehold property as required by the Financial Reporting Standard for Smaller Entities. The directors are of the opinion that the market value at the end of its economic useful life will not be materially different from its carrying value and that any depreciation charge would be immaterial.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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


DIRECT PACKAGING SOLUTIONS LTD (REGISTERED NUMBER: 04419905)

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


2. ACCOUNTING POLICIES - continued
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.

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 27 (2022 - 27 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 December 2022 - 124,806 22,221
Additions 49,211 - -
At 30 November 2023 49,211 124,806 22,221
DEPRECIATION
At 1 December 2022 - 95,496 20,737
Charge for year 2,460 7,327 372
At 30 November 2023 2,460 102,823 21,109
NET BOOK VALUE
At 30 November 2023 46,751 21,983 1,112
At 30 November 2022 - 29,310 1,484

DIRECT PACKAGING SOLUTIONS LTD (REGISTERED NUMBER: 04419905)

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


4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 December 2022 245,064 18,437 410,528
Additions - - 49,211
At 30 November 2023 245,064 18,437 459,739
DEPRECIATION
At 1 December 2022 84,787 16,908 217,928
Charge for year 40,069 823 51,051
At 30 November 2023 124,856 17,731 268,979
NET BOOK VALUE
At 30 November 2023 120,208 706 190,760
At 30 November 2022 160,277 1,529 192,600

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST OR VALUATION
At 1 December 2022
and 30 November 2023 70
NET BOOK VALUE
At 30 November 2023 70
At 30 November 2022 70

Cost or valuation at 30 November 2023 is represented by:

Shares in
group
undertakings
£   
Cost 70

DIRECT PACKAGING SOLUTIONS LTD (REGISTERED NUMBER: 04419905)

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


6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 245,019
At 30 November 2023 245,019
NET BOOK VALUE
At 30 November 2023 245,019

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,403,686 1,811,912
Amounts owed by group undertakings 5,688 -
Amounts owed by associates 35,600 -
Other debtors 78,879 121,938
1,523,853 1,933,850

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 34,799 40,418
Trade creditors 1,071,585 1,387,661
Amounts owed to group undertakings - 40
Taxation and social security 164,603 122,404
Other creditors 702,410 671,593
1,973,397 2,222,116

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 39,517 73,196

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 74,316 113,614
Discounting creditor 680,480 605,561
754,796 719,175

DIRECT PACKAGING SOLUTIONS LTD (REGISTERED NUMBER: 04419905)

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


11. OTHER FINANCIAL COMMITMENTS

The company had outstanding commitments in respect of operating leases at 30 November 2023 of £51,554
(2022 : £172,596).