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REGISTERED NUMBER: 05300421 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023

FOR

PACK 4 LIMITED

PACK 4 LIMITED (REGISTERED NUMBER: 05300421)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31st December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PACK 4 LIMITED

COMPANY INFORMATION
for the Year Ended 31st December 2023







DIRECTORS: Mr G S Parry
Mr D Bacon





SECRETARY: Mr G S Parry





REGISTERED OFFICE: Centurion House
Warrington Road Industrial Estate
Stephens Way
Wigan
WN3 6PE





REGISTERED NUMBER: 05300421 (England and Wales)





ACCOUNTANTS: Xeinadin
100 Barbirolli Square
Manchester
M2 3BD

PACK 4 LIMITED (REGISTERED NUMBER: 05300421)

BALANCE SHEET
31st December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 1,963 4,219
Tangible assets 5 720,734 769,667
722,697 773,886

CURRENT ASSETS
Stocks 181,406 153,136
Debtors 6 214,020 245,807
Cash at bank and in hand 240,653 251,205
636,079 650,148
CREDITORS
Amounts falling due within one year 7 (273,934 ) (184,460 )
NET CURRENT ASSETS 362,145 465,688
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,084,842

1,239,574

CREDITORS
Amounts falling due after more than one
year

8

(68,854

)

(119,224

)

PROVISIONS FOR LIABILITIES (17,882 ) (38,536 )
NET ASSETS 998,106 1,081,814

CAPITAL AND RESERVES
Called up share capital 10 1,000 1,000
Retained earnings 997,106 1,080,814
SHAREHOLDERS' FUNDS 998,106 1,081,814

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2023.

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

PACK 4 LIMITED (REGISTERED NUMBER: 05300421)

BALANCE SHEET - continued
31st December 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 23rd September 2024 and were signed on its behalf by:





Mr D Bacon - Director


PACK 4 LIMITED (REGISTERED NUMBER: 05300421)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31st December 2023


1. STATUTORY INFORMATION

Pack 4 Limited is a private company, limited by shares, registered in England and Wales, registration number 05300421. The address of the registered office and principal place of business is Centurion House, Warrington Road Industrial Estate, Stephens Way, Wigan, WN3 6PE.

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 the fair value of consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Turnover principally consists of the sale of manufactured packaging goods, which are recognised at the point of which the goods are provided.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in excess of the fair value of the indentifiable assets is stated at cost less accumulated amortisation and accumulated impairment losses. It is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation on tangible fixed assets is charged to the profit and loss so as to write off their value, over their estimated useful lives, using the following methods:

Land and buildings-2% straight line
Plant and machinery-10% - 20% straight line
Fixtures and fittings-20% straight line
Motor vehicles-25% straight line

At each balance sheet date, the Company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items of property, plant and equipment have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately.

Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, to the extent that the increased carrying amount that would have been determined (net of depreciation) had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised as income immediately.

Stocks
Stocks and work in progress are valued at the lower of cost and estimated selling price less costs to sell, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.


PACK 4 LIMITED (REGISTERED NUMBER: 05300421)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st December 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet 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.

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

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand.

Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

Pensions
The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 12 ) .

PACK 4 LIMITED (REGISTERED NUMBER: 05300421)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st December 2023


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st January 2023
and 31st December 2023 45,000
AMORTISATION
At 1st January 2023 40,781
Charge for year 2,256
At 31st December 2023 43,037
NET BOOK VALUE
At 31st December 2023 1,963
At 31st December 2022 4,219

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1st January 2023 628,721 655,464 41,062 34,297 1,359,544
Additions - - 4,695 - 4,695
At 31st December 2023 628,721 655,464 45,757 34,297 1,364,239
DEPRECIATION
At 1st January 2023 81,732 442,979 40,159 25,007 589,877
Charge for year 12,574 31,239 1,241 8,574 53,628
At 31st December 2023 94,306 474,218 41,400 33,581 643,505
NET BOOK VALUE
At 31st December 2023 534,415 181,246 4,357 716 720,734
At 31st December 2022 546,989 212,485 903 9,290 769,667

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 110,261 165,849
Other debtors 103,759 79,958
214,020 245,807

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 56,904 53,037
Trade creditors 162,195 88,936
Taxation and social security 31,029 16,776
Other creditors 23,806 25,711
273,934 184,460

PACK 4 LIMITED (REGISTERED NUMBER: 05300421)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st December 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 68,854 119,224

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 125,758 172,261

Bank borrowings provided by Santander UK PLC are secured by a fixed and floating charge over the assets of the company.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 Ordinary £1.00 1,000 1,000