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Company Registration No. 13287856 (England and Wales)
Packfleet Ltd Unaudited accounts for the year ended 31 March 2024
Packfleet Ltd Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
832,920 
924,354 
Current assets
Debtors
897,202 
452,276 
Cash at bank and in hand
6,978,000 
5,636,139 
7,875,202 
6,088,415 
Creditors: amounts falling due within one year
(580,457)
(614,748)
Net current assets
7,294,745 
5,473,667 
Total assets less current liabilities
8,127,665 
6,398,021 
Creditors: amounts falling due after more than one year
(376,084)
(479,711)
Net assets
7,751,581 
5,918,310 
Capital and reserves
Called up share capital
6 
4 
Share premium
17,065,838 
9,130,840 
Profit and loss account
(9,314,263)
(3,212,534)
Shareholders' funds
7,751,581 
5,918,310 
For the year ending 31 March 2024 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 23 September 2024 and were signed on its behalf by
Tristan Crozier Thomas Director Company Registration No. 13287856
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Packfleet Ltd Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Packfleet Ltd is a private company, limited by shares, registered in England and Wales, registration number 13287856. The registered office is 14 - 16 Verney Road, London, SE16 3DH, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
These financial statements for the year ended 31 March 2024 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 April 2022. The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously. The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
6 years
Plant & machinery
5 years
Motor vehicles
5 years
Computer equipment
3 years
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Packfleet Ltd Notes to the Accounts for the year ended 31 March 2024
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 April 2023
30,241 
37,199 
849,520 
124,157 
1,041,117 
Additions
17,183 
84,602 
990 
59,497 
162,272 
Disposals
(24,610)
- 
- 
- 
(24,610)
At 31 March 2024
22,814 
121,801 
850,510 
183,654 
1,178,779 
Depreciation
At 1 April 2023
3,230 
2,832 
92,736 
17,965 
116,763 
Charge for the year
4,740 
15,652 
170,003 
41,777 
232,172 
On disposals
(3,076)
- 
- 
- 
(3,076)
At 31 March 2024
4,894 
18,484 
262,739 
59,742 
345,859 
Net book value
At 31 March 2024
17,920 
103,317 
587,771 
123,912 
832,920 
At 31 March 2023
27,011 
34,367 
756,784 
106,192 
924,354 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
7,374 
- 
Trade debtors
705,161 
174,979 
Accrued income and prepayments
46,001 
49,925 
Other debtors
138,666 
227,372 
897,202 
452,276 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Obligations under finance leases and hire purchase contracts
158,396 
211,922 
Trade creditors
177,562 
186,944 
Taxes and social security
88,850 
81,575 
Other creditors
61,207 
66,456 
Accruals
94,442 
67,851 
580,457 
614,748 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Obligations under finance leases and hire purchase contracts
376,084 
479,711 
8
Average number of employees
During the year the average number of employees was 86 (2023: 46).
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