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REGISTERED NUMBER: 06614299 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

RIVER PACKAGING LIMITED

RIVER PACKAGING LIMITED (REGISTERED NUMBER: 06614299)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


RIVER PACKAGING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTOR: B M Yaseen





REGISTERED OFFICE: 61-63 Windmill Road
Sunbury on Thames
Middlesex
TW16 7DT





REGISTERED NUMBER: 06614299 (England and Wales)





ACCOUNTANTS: Wells Associates
Ground Floor Oakhurst House
77 Mount Ephraim
Tunbridge Wells
Kent
TN4 8BS

RIVER PACKAGING LIMITED (REGISTERED NUMBER: 06614299)

STATEMENT OF FINANCIAL POSITION
30 NOVEMBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Property, plant and equipment 4 1,012,170 1,202,960
Investments 5 25,616 4,622
1,037,786 1,207,582

CURRENT ASSETS
Inventories 372,800 510,411
Debtors 6 1,039,387 817,317
Cash at bank and in hand 699,221 664,169
2,111,408 1,991,897
CREDITORS
Amounts falling due within one year 7 (1,002,154 ) (992,320 )
NET CURRENT ASSETS 1,109,254 999,577
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,147,040

2,207,159

CREDITORS
Amounts falling due after more than one
year

8

(241,531

)

(488,253

)

PROVISIONS FOR LIABILITIES (176,784 ) (208,835 )
NET ASSETS 1,728,725 1,510,071

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 1,718,725 1,500,071
1,728,725 1,510,071

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 director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 August 2024 and were signed by:



B M Yaseen - Director


RIVER PACKAGING LIMITED (REGISTERED NUMBER: 06614299)

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

1. STATUTORY INFORMATION

River 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 fair value of the consideration received or receivable for the sale of goods, excluding value added tax. This is recognised when the significant risks and rewards of ownership for the goods has transferred to the customer, which is upon dispatch.

Tangible fixed assets
Tangible assets are stated at cost less accumulated depreciation. Cost includes the original purchase price and costs directly attributable to bringing the asset to its working condition for its intended use.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under finance lease, over the lease term, whichever is the shorter.

Plant & machinery - at varying rates on cost
Improvements to property - over the lease term
Motor vehicles - 33.33% on cost
Computer equipment - 33.33% on cost

On disposal, the difference between net proceeds and the carrying amount of the item sold is recognised in the profit and loss account.

Stocks
Stock and work in progress are valued at the lower of cost and net realisable value. Cost of finished goods and work in progress includes overheads appropriate to the stage of manufacture. Net realisable value is based upon estimated selling price less further costs expected to be incurred to completion. Provision is made 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

RIVER PACKAGING LIMITED (REGISTERED NUMBER: 06614299)

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

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 20 (2022 - 19 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Improvements
to Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 December 2022 53,044 2,598,367 78,473 2,784 2,732,668
Additions 5,517 25,877 - 6,493 37,887
At 30 November 2023 58,561 2,624,244 78,473 9,277 2,770,555
DEPRECIATION
At 1 December 2022 12,621 1,488,984 27,097 1,006 1,529,708
Charge for year 12,481 203,173 10,816 2,207 228,677
At 30 November 2023 25,102 1,692,157 37,913 3,213 1,758,385
NET BOOK VALUE
At 30 November 2023 33,459 932,087 40,560 6,064 1,012,170
At 30 November 2022 40,423 1,109,383 51,376 1,778 1,202,960

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 December 2022 751,120 54,080 805,200
Transfer to ownership (80,425 ) - (80,425 )
At 30 November 2023 670,695 54,080 724,775
DEPRECIATION
At 1 December 2022 162,871 2,704 165,575
Charge for year 64,970 10,816 75,786
Transfer to ownership (22,117 ) - (22,117 )
At 30 November 2023 205,724 13,520 219,244
NET BOOK VALUE
At 30 November 2023 464,971 40,560 505,531
At 30 November 2022 588,249 51,376 639,625

RIVER PACKAGING LIMITED (REGISTERED NUMBER: 06614299)

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

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 December 2022 4,622
Additions 20,994
At 30 November 2023 25,616
NET BOOK VALUE
At 30 November 2023 25,616
At 30 November 2022 4,622

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 521,604 469,724
Other debtors 420,389 276,324
Directors' current accounts 10,777 10,361
Tax 18,171 18,171
Prepayments and accrued income 68,446 42,737
1,039,387 817,317

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 9) 122,595 114,547
Hire purchase contracts (see note 10) 124,127 135,983
Trade creditors 401,440 396,703
Tax 109,029 29,162
Social security and other taxes 20,695 15,961
VAT 24,605 24,443
Other creditors 27,908 23,362
Accruals and deferred income 171,755 252,159
1,002,154 992,320

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans (see note 9) 56,379 178,974
Hire purchase contracts (see note 10) 185,152 309,279
241,531 488,253

9. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 122,595 114,547

Amounts falling due between one and two years:
Bank loans - 1-2 years 56,379 122,595

RIVER PACKAGING LIMITED (REGISTERED NUMBER: 06614299)

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

9. LOANS - continued
2023 2022
£    £   
Amounts falling due between two and five years:
Bank loans - 2-5 years - 56,379

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Gross obligations repayable:
Within one year 140,622 160,868
Between one and five years 200,398 341,020
341,020 501,888

Finance charges repayable:
Within one year 16,495 24,885
Between one and five years 15,246 31,741
31,741 56,626

Net obligations repayable:
Within one year 124,127 135,983
Between one and five years 185,152 309,279
309,279 445,262

Non-cancellable operating leases
2023 2022
£    £   
Within one year 108,050 112,786
Between one and five years 236,850 295,100
344,900 407,886

11. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 309,279 445,262

12. FINANCIAL INSTRUMENTS

Financial instruments are classified by directors as basic or advanced following the conditions on FRS102 Section 11. Basic financial instruments are initially measured at transaction price and subsequently recognised at amortised cost using the effective interest method The company does not have any advanced financial instruments.

RIVER PACKAGING LIMITED (REGISTERED NUMBER: 06614299)

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

13. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 November 2023 and 30 November 2022:

2023 2022
£    £   
B M Yaseen
Balance outstanding at start of year 10,361 -
Amounts advanced 416 10,361
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 10,777 10,361

Interest is charged on this loan at 3% and the balance is repayable on demand.