Packaging and Property Limited 13910455 false 2023-02-01 2024-01-31 2024-01-31 The principal activity of the company is Activities of other holding companies not elsewhere classified. Digita Accounts Production Advanced 6.30.9574.0 true true false true true 13910455 2023-02-01 2024-01-31 13910455 2024-01-31 13910455 core:CurrentFinancialInstruments 2024-01-31 13910455 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 13910455 bus:SmallEntities 2023-02-01 2024-01-31 13910455 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 13910455 bus:FullAccounts 2023-02-01 2024-01-31 13910455 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 13910455 bus:RegisteredOffice 2023-02-01 2024-01-31 13910455 bus:Director1 2023-02-01 2024-01-31 13910455 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 13910455 core:Subsidiary1 2023-02-01 2024-01-31 13910455 core:Subsidiary1 2023-02-01 2024-01-31 13910455 core:Subsidiary1 1 2023-02-01 2024-01-31 13910455 core:Subsidiary2 2023-02-01 2024-01-31 13910455 core:Subsidiary2 1 2023-02-01 2024-01-31 13910455 countries:EnglandWales 2023-02-01 2024-01-31 13910455 2022-02-11 2023-01-31 13910455 2023-01-31 13910455 core:CurrentFinancialInstruments 2023-01-31 13910455 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 13910455 core:Subsidiary1 1 2022-02-11 2023-01-31 13910455 core:Subsidiary2 1 2022-02-11 2023-01-31 iso4217:GBP xbrli:pure

Registration number: 13910455

Prepared for the registrar

Packaging and Property Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 January 2024

 

Packaging and Property Limited

(Registration number: 13910455)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Investments

4

200

100

Current assets

 

Debtors

5

569,901

3,000,000

Cash and cash equivalents

 

5,333,105

1

 

5,903,006

3,000,001

Creditors: Amounts falling due within one year

6

(51,046)

(1,500)

Net current assets

 

5,851,960

2,998,501

Net assets

 

5,852,160

2,998,601

Capital and reserves

 

Called up share capital

101

101

Profit and loss account

5,852,059

2,998,500

Shareholders' funds

 

5,852,160

2,998,601

For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 16 October 2024
 


Mr P D Cross
Director

 

Packaging and Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

 

1

General information

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

The address of its registered office is:
7 Sandy Lane Road
Charlton Kings
Cheltenham
Gloucestershire
GL53 9DB
United Kingdom

 

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 for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Group accounts not prepared

The company has taken advantage of the exemption in section 398 of the Companies Act 2006 from the requirement to prepare consolidated financial statements, on the grounds that it is a small group.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Judgements

No significant judgements have been made by management in preparing these financial statements.

Investments

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

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.

 

Packaging and Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Financial instruments


Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

 Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

 Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described below.

 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

4

Investments

2024
£

2023
£

Investments in subsidiaries

200

100

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2024

2023

Subsidiary undertakings

Total Packaging Services Limited

7 Sandy Lane Road, Charlton Kings, Cheltenham, Gloucestershire, England, GL53 9DB

Ordinary

100%

100%

Inicio Design Limited

7 Sandy Lane Road, Charlton Kings, Cheltenham, Gloucestershire, England, GL53 9DB

Ordinary

100%

0%

 

Packaging and Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

 

5

Debtors

Note

31 January 2024
 £

31 January 2023
 £

Amounts owed by related parties

7

569,901

3,000,000

   

569,901

3,000,000

 

6

Creditors

Note

31 January 2024
 £

31 January 2023
 £

Due within one year

 

Amounts owed to related parties

7

13

-

Accrued expenses

 

2,460

1,500

Corporation tax liability

48,573

-

 

51,046

1,500

 

7

Related party transactions

Summary of transactions with subsidiaries

At 31 January 2024, the company owed £13 to Total Packaging Services Limited, its subsidiary, in the form of a loan (2023: £3,000,000 was owed by Total Packaging Services Limited). The loan is unsecured, repayable on demand and interest free.

At 31 January 2024, the company was owed £569,901 by Inicio Designs Limited, its subsidiary, in the form of a loan (2023: £0). The loan is unsecured, repayable on demand and interest free.