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REGISTERED NUMBER: 07898467 (England and Wales)

























Unaudited Financial Statements for the Year Ended 31 December 2023

for

Ipack Solutions Limited

Ipack Solutions Limited (Registered number: 07898467)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Ipack Solutions Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: J M Hall
Mrs A Hall





REGISTERED OFFICE: IN Accountancy Ltd
Unit 2, Station View
Hazel Grove
stockport
Cheshire
SK7 5ER





REGISTERED NUMBER: 07898467 (England and Wales)





ACCOUNTANTS: IN Accountancy Limited
2 Station View
Bramhall Moor Lane
Hazel Grove
Stockport
Cheshire
SK7 5ER

Ipack Solutions Limited (Registered number: 07898467)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 70,415 72,108

CURRENT ASSETS
Debtors 5 41,792 19,379
Cash at bank and in hand 131,521 215,502
173,313 234,881
CREDITORS
Amounts falling due within one year 6 76,696 87,131
NET CURRENT ASSETS 96,617 147,750
TOTAL ASSETS LESS CURRENT LIABILITIES 167,032 219,858

CREDITORS
Amounts falling due after more than one
year

7

(45,095

)

(45,874

)

PROVISIONS FOR LIABILITIES (8,302 ) (7,758 )
NET ASSETS 113,635 166,226

Ipack Solutions Limited (Registered number: 07898467)

Balance Sheet - continued
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 113,625 166,216
SHAREHOLDERS' FUNDS 113,635 166,226

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

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

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 July 2024 and were signed on its behalf by:





J M Hall - Director


Ipack Solutions Limited (Registered number: 07898467)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Ipack Solutions 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.

The financial statements are prepared in sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on cost and 20% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


Ipack Solutions Limited (Registered number: 07898467)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
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.

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.

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 3 (2022 - 3 ) .

Ipack Solutions Limited (Registered number: 07898467)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 102,087
Additions 48,038
Disposals (43,700 )
At 31 December 2023 106,425
DEPRECIATION
At 1 January 2023 29,979
Charge for year 14,771
Eliminated on disposal (8,740 )
At 31 December 2023 36,010
NET BOOK VALUE
At 31 December 2023 70,415
At 31 December 2022 72,108

Ipack Solutions Limited (Registered number: 07898467)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 January 2023 43,700
Additions 45,790
Disposals (43,700 )
At 31 December 2023 45,790
DEPRECIATION
At 1 January 2023 8,740
Charge for year 2,862
Eliminated on disposal (8,740 )
At 31 December 2023 2,862
NET BOOK VALUE
At 31 December 2023 42,928
At 31 December 2022 34,960

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 36,289 19,379
Other debtors 5,503 -
41,792 19,379

Ipack Solutions Limited (Registered number: 07898467)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 8,000 8,000
Hire purchase contracts 6,125 5,764
Trade creditors 36,964 18,797
Taxation and social security 7,300 42,861
Other creditors 18,307 11,709
76,696 87,131

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans 11,961 19,333
Hire purchase contracts 33,134 26,541
45,095 45,874

8. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Hire purchase contracts 39,259 32,305

9. ULTIMATE CONTROLLING PARTY

The controlling party is J M Hall.