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Registration number: 08337365

Hurricane Packaging Limited

Information for Filing with The Registrar

30 June 2024

 

Hurricane Packaging Limited

Contents

Balance Sheet

1

Notes to the Accounts

2 to 6

 

Hurricane Packaging Limited

(Registration number: 08337365)

Balance Sheet

30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

15

170

Current assets

 

Stocks

5

53,082

33,313

Debtors

6

250,123

205,945

Cash at bank and in hand

 

69,100

181,968

 

372,305

421,226

Creditors: Amounts falling due within one year

7

(349,467)

(378,004)

Net current assets

 

22,838

43,222

Net assets

 

22,853

43,392

Capital and reserves

 

Called up share capital

8

12

12

Retained earnings

22,841

43,380

Shareholders' funds

 

22,853

43,392

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 10 October 2024 and signed on its behalf by:




P.R. Jolliffe

Director

 

Hurricane Packaging Limited

Notes to the Accounts

Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Thorpe House
Hurricane Close
Sherburn in Elmet
Leeds
LS25 6PB

These financial statements were authorised for issue by the Board on 10 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services to customers in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts. Turnover is recognised when the goods are physically delivered.

Government grants

Grants are recognised as income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate.

Foreign currency transactions and balances

Transactions in foreign currencies are recorded using the rate of exchange ruling at the date of the transaction.

Tax

The tax expense for the period comprises corporation tax.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Hurricane Packaging Limited

Notes to the Accounts

Year Ended 30 June 2024

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Tools and equipment

25% reducing balance basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trust

The company has created a trust whose beneficiaries will include employees of the company and their dependents. Assets held under this trust will be controlled by trustees who will be acting independently and entirely at their own discretion.

Where assets are held in trust and these are considered by the company to be in respect of services already provided by employees to the company, the company will account for these as assets of the company until the earlier of it no longer having de facto control of these assets and is not obtaining future economic benefit from these assets. The value transferred will be charged in the company's profit and loss account for the year to which it relates.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Hurricane Packaging Limited

Notes to the Accounts

Year Ended 30 June 2024

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company during the year, was 2 (2023 - 2).

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 July 2023

1,447

1,447

Disposals

(1,293)

(1,293)

At 30 June 2024

154

154

Depreciation

At 1 July 2023

1,277

1,277

Charge for the year

43

43

Eliminated on disposal

(1,181)

(1,181)

At 30 June 2024

139

139

Carrying amount

At 30 June 2024

15

15

At 30 June 2023

170

170

5

Stocks

2024
£

2023
£

Other inventories

53,082

33,313

 

Hurricane Packaging Limited

Notes to the Accounts

Year Ended 30 June 2024

6

Debtors

Current

2024
£

2023
£

Trade debtors

249,930

205,945

Prepayments

193

-

 

250,123

205,945

7

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

25,833

35,833

Trade creditors

 

115,934

115,749

Amounts due to related parties

10

107,393

153,805

Taxation and social security

 

84,478

56,109

Other creditors

 

15,829

16,508

 

349,467

378,004

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary "A" shares of £1 each

8

8

8

8

Ordinary "B" shares of £1 each

4

4

4

4

 

12

12

12

12

9

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

25,833

35,833

 

Hurricane Packaging Limited

Notes to the Accounts

Year Ended 30 June 2024

10

Related party transactions

Summary of transactions with other related parties

Thorpe Packaging Limited
 The company buys on normal commercial terms, packaging materials from Thorpe Packaging Limited, of which Mr P.R. Jolliffe and Mrs J.L. Jolliffe are the shareholders and directors.
The value of such sales were £235,322 (2023 - £173,800) and the value of such purchases were £32,124 (2023 - £18,918) during the year ended 30 June 2024. At the balance sheet date the amount due from Thorpe Packaging Limited was £46,067 (2023 - £37,666).