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REGISTERED NUMBER: 02810677 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

FYNE PACKAGING LIMITED

FYNE PACKAGING LIMITED (REGISTERED NUMBER: 02810677)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 November 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FYNE PACKAGING LIMITED

COMPANY INFORMATION
for the year ended 30 November 2023







DIRECTORS: D McLafferty
C J L McLafferty
S Mason





SECRETARY: D McLafferty





REGISTERED OFFICE: Magma House
16 Davy Court
Castle Mound Way
Rugby
Warwickshire
CV23 0UZ





REGISTERED NUMBER: 02810677 (England and Wales)





ACCOUNTANTS: Magma Audit LLP
16 Davy Court
Castle Mound Way
Rugby, CV23 0UZ
Magma Audit LLP is part
Of the Dains Group

FYNE PACKAGING LIMITED (REGISTERED NUMBER: 02810677)

BALANCE SHEET
30 November 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 3,281 7,001
Tangible assets 5 2,335 6,223
5,616 13,224

CURRENT ASSETS
Stocks 112,500 115,401
Debtors 6 95,584 75,746
Cash at bank and in hand 5 52,599
208,089 243,746
CREDITORS
Amounts falling due within one year 7 (188,152 ) (212,634 )
NET CURRENT ASSETS 19,937 31,112
TOTAL ASSETS LESS CURRENT
LIABILITIES

25,553

44,336

CREDITORS
Amounts falling due after more than one
year

8

(15,573

)

(25,651

)
NET ASSETS 9,980 18,685

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings (20 ) 8,685
SHAREHOLDERS' FUNDS 9,980 18,685

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.

FYNE PACKAGING LIMITED (REGISTERED NUMBER: 02810677)

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 23 August 2024 and were signed on its behalf by:





D McLafferty - Director


FYNE PACKAGING LIMITED (REGISTERED NUMBER: 02810677)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 November 2023


1. STATUTORY INFORMATION

Fyne Packaging Limited is a private company, limited by shares and registered in England and Wales. The company's registered number is 02810677 and the registered office address is Magma House 16 Davy Court, Castle Mound Way, Rugby, CV23 0UZ.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The presentation currency of the financial statements is in sterling and the figures are rounded to the nearest £1.

Turnover
Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

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.

Website costs are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated
impairment losses. Historical costs includes expenditure that is directly attributable to bringing the asset to the
location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using either a straight line or reducing balance method, as indicated below.

Depreciation is provided on the following basis:

Plant and machinery- 25% straight line
Fixtures and fittings- 15% straight line
Motor vehicles- 25% straight line
Computer equipment- 25% straight line
Premises improvements- Over the term of the lease as 12.5% per annum

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Stocks
Stocks are stated at the lower cost and estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment, If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit and loss.

FYNE PACKAGING LIMITED (REGISTERED NUMBER: 02810677)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 November 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
(i) Financial assets

Basic financial assets, including trade and other debtors, cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest rate method.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Taxation
The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:

- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered
against the reversal of deferred tax liabilities or other future taxable profits; and
- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have
been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

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.

Operating leases
Leases that do not transfer all the risks and rewards of ownership are classified as operating leases. Payments under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 7 ) .

FYNE PACKAGING LIMITED (REGISTERED NUMBER: 02810677)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 November 2023


4. INTANGIBLE FIXED ASSETS
Website
costs
£   
COST
At 1 December 2022
and 30 November 2023 21,771
AMORTISATION
At 1 December 2022 14,770
Amortisation for year 3,720
At 30 November 2023 18,490
NET BOOK VALUE
At 30 November 2023 3,281
At 30 November 2022 7,001

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 December 2022
and 30 November 2023 1,880 158,570 12,624
DEPRECIATION
At 1 December 2022 1,175 155,653 12,624
Charge for year 235 2,917 -
At 30 November 2023 1,410 158,570 12,624
NET BOOK VALUE
At 30 November 2023 470 - -
At 30 November 2022 705 2,917 -

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 December 2022
and 30 November 2023 22,500 22,218 217,792
DEPRECIATION
At 1 December 2022 22,500 19,617 211,569
Charge for year - 736 3,888
At 30 November 2023 22,500 20,353 215,457
NET BOOK VALUE
At 30 November 2023 - 1,865 2,335
At 30 November 2022 - 2,601 6,223

FYNE PACKAGING LIMITED (REGISTERED NUMBER: 02810677)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 November 2023


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 78,436 59,368
Other debtors 17,148 16,378
95,584 75,746

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 19,540 19,083
Trade creditors 71,175 89,518
Taxation and social security 1,812 8,146
Other creditors 95,625 95,887
188,152 212,634

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Other creditors 15,573 25,651

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 30,924 30,924
Between one and five years 5,154 36,078
36,078 67,002