2 false false false false false false false false false false true false false false false false false No description of principal activity 2023-08-01 Sage Accounts Production Advanced 2023 - FRS102_2023 25,000 25,000 1,105 295 162 457 648 810 xbrli:pure xbrli:shares iso4217:GBP 09146861 2023-08-01 2024-07-31 09146861 2024-07-31 09146861 2023-07-31 09146861 2022-08-01 2023-07-31 09146861 2023-07-31 09146861 2022-07-31 09146861 core:NetGoodwill 2023-08-01 2024-07-31 09146861 bus:OrdinaryShareClass1 2023-08-01 2024-07-31 09146861 bus:Director2 2023-08-01 2024-07-31 09146861 core:NetGoodwill 2024-07-31 09146861 core:WithinOneYear 2024-07-31 09146861 core:WithinOneYear 2023-07-31 09146861 core:ShareCapital 2024-07-31 09146861 core:ShareCapital 2023-07-31 09146861 core:RetainedEarningsAccumulatedLosses 2024-07-31 09146861 core:RetainedEarningsAccumulatedLosses 2023-07-31 09146861 bus:SmallEntities 2023-08-01 2024-07-31 09146861 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 09146861 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 09146861 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 09146861 bus:FullAccounts 2023-08-01 2024-07-31 09146861 bus:OrdinaryShareClass1 2024-07-31 09146861 bus:OrdinaryShareClass1 2023-07-31 09146861 core:OfficeEquipment 2023-08-01 2024-07-31 09146861 core:OfficeEquipment 2024-07-31 09146861 core:OfficeEquipment 2023-07-31
COMPANY REGISTRATION NUMBER: 09146861
MPG Packaging Limited
Filleted Unaudited Financial Statements
31 July 2024
MPG Packaging Limited
Financial Statements
Year Ended 31 July 2024
Contents
Pages
Statement of financial position
1
Notes to the financial statements
2 to 5
MPG Packaging Limited
Statement of Financial Position
31 July 2024
2024
2023
Note
£
£
£
Fixed Assets
Tangible assets
6
648
810
Current Assets
Debtors
7
39,199
61,183
Cash at bank and in hand
65,582
57,271
---------
---------
104,781
118,454
Creditors: amounts falling due within one year
8
67,243
73,677
---------
---------
Net Current Assets
37,538
44,777
--------
--------
Total Assets Less Current Liabilities
38,186
45,587
--------
--------
Net Assets
38,186
45,587
--------
--------
Capital and Reserves
Called up share capital
9
100
100
Profit and loss account
38,086
45,487
--------
--------
Shareholders Funds
38,186
45,587
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 July 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 financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 31 October 2024 , and are signed on behalf of the board by:
Mr M Gill
Director
Company registration number: 09146861
MPG Packaging Limited
Notes to the Financial Statements
Year Ended 31 July 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 91-97 Saltergate, Chesterfield, Derbyshire, S40 1LA.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. All of the members have consented to the preparation of abridged accounts in accordance with Section 444(2A) of the Companies Act 2006.
Revenue recognition
The turnover shown in the profit and loss account represents amounts earned during the period, exclusive of Value Added Tax.
Income tax
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax is measured on a discounted/an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
5% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
20% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Intangible assets
Goodwill
£
Cost
At 1 August 2023 and 31 July 2024
25,000
--------
Amortisation
At 1 August 2023 and 31 July 2024
25,000
--------
Carrying amount
At 31 July 2024
--------
At 31 July 2023
--------
6. Tangible assets
Equipment
Total
£
£
Cost
At 1 August 2023 and 31 July 2024
1,105
1,105
-------
-------
Depreciation
At 1 August 2023
295
295
Charge for the year
162
162
-------
-------
At 31 July 2024
457
457
-------
-------
Carrying amount
At 31 July 2024
648
648
-------
-------
At 31 July 2023
810
810
-------
-------
7. Debtors
2024
2023
£
£
Trade debtors
11,711
39,023
Other debtors
27,488
22,160
--------
--------
39,199
61,183
--------
--------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
60,285
55,791
Social security and other taxes
6,701
15,016
Other creditors
257
2,870
--------
--------
67,243
73,677
--------
--------
9. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----
10. Director's advances, credits and guarantees
There are no director's advances, credits or guarantees requiring disclosure.