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COUNTY PACKAGING SERVICES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






COUNTY PACKAGING SERVICES LIMITED (REGISTERED NUMBER: 04170976)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


COUNTY PACKAGING SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: S D Scarborough
Mrs J P Scarborough





REGISTERED OFFICE: Unit 18.3 Amber Business Centre
Greenhill Lane
Riddings
Alfreton
Derbyshire
DE55 4BR





REGISTERED NUMBER: 04170976 (England and Wales)





ACCOUNTANTS: Sibbalds Limited
Chartered Accountants and Business Advisers
Oakhurst House
57 Ashbourne Road
Derby
Derbyshire
DE22 3FS

COUNTY PACKAGING SERVICES LIMITED (REGISTERED NUMBER: 04170976)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 157 786
Tangible assets 5 67,945 66,289
68,102 67,075

CURRENT ASSETS
Stocks 103,024 103,283
Debtors 6 176,100 151,890
Cash at bank and in hand 193,427 176,183
472,551 431,356
CREDITORS
Amounts falling due within one year 7 139,761 143,651
NET CURRENT ASSETS 332,790 287,705
TOTAL ASSETS LESS CURRENT LIABILITIES 400,892 354,780

CREDITORS
Amounts falling due after more than one
year

8

(13,084

)

(23,272

)

PROVISIONS FOR LIABILITIES 10 (10,100 ) (13,100 )
NET ASSETS 377,708 318,408

CAPITAL AND RESERVES
Called up share capital 11 2 2
Retained earnings 377,706 318,406
SHAREHOLDERS' FUNDS 377,708 318,408

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

COUNTY PACKAGING SERVICES LIMITED (REGISTERED NUMBER: 04170976)

BALANCE SHEET - continued
31 MARCH 2024


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 4 October 2024 and were signed on its behalf by:





S D Scarborough - Director


COUNTY PACKAGING SERVICES LIMITED (REGISTERED NUMBER: 04170976)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

County Packaging Services 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


COUNTY PACKAGING SERVICES LIMITED (REGISTERED NUMBER: 04170976)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


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
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 5 (2023 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 April 2023
and 31 March 2024 3,145
AMORTISATION
At 1 April 2023 2,359
Amortisation for year 629
At 31 March 2024 2,988
NET BOOK VALUE
At 31 March 2024 157
At 31 March 2023 786

COUNTY PACKAGING SERVICES LIMITED (REGISTERED NUMBER: 04170976)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2023 40,588 131 104,655 145,374
Additions 600 1,551 19,257 21,408
Disposals - - (15,910 ) (15,910 )
At 31 March 2024 41,188 1,682 108,002 150,872
DEPRECIATION
At 1 April 2023 29,946 27 49,112 79,085
Charge for year 1,641 48 14,287 15,976
Eliminated on disposal - - (12,134 ) (12,134 )
At 31 March 2024 31,587 75 51,265 82,927
NET BOOK VALUE
At 31 March 2024 9,601 1,607 56,737 67,945
At 31 March 2023 10,642 104 55,543 66,289

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 164,899 145,200
Other debtors 11,201 6,690
176,100 151,890

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,184 9,934
Trade creditors 32,644 52,162
Taxation and social security 93,155 76,394
Other creditors 3,778 5,161
139,761 143,651

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 13,084 23,272

COUNTY PACKAGING SERVICES LIMITED (REGISTERED NUMBER: 04170976)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 14,146 16,084
Between one and five years 3,375 17,521
17,521 33,605

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 10,100 13,100

Deferred
tax
£   
Balance at 1 April 2023 13,100
Provided during year (3,000 )
Balance at 31 March 2024 10,100

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1 2 2

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Directors loans opened the year being owed by the company £1,940 with advances provided during of the year of £81,712 and credits of £76,800 with the balance at closing being £2,972 owed to the company by the directors.


Interest is charged on loans to directors at HMRC approved rates. The amount charged during the year was £63.