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REGISTERED NUMBER: 02548722 (England and Wales)















STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024

FOR

PFF PACKAGING (SEDGEFIELD) LIMITED

PFF PACKAGING (SEDGEFIELD) LIMITED (REGISTERED NUMBER: 02548722)






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




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Profit and Loss Account 9

Other Comprehensive Income 10

Balance Sheet 11

Statement of Changes in Equity 12

Notes to the Financial Statements 13


PFF PACKAGING (SEDGEFIELD) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: Robert Victor Atkin
Michelle Annette Bairstow
Andrew Robert Bairstow
Kenton Scott Robbins
Lee Graeme Wilkinson





REGISTERED OFFICE: Unit 3 Airedale Park
Royd Ings Avenue
Keighley
West Yorkshire
BD21 4BZ





REGISTERED NUMBER: 02548722 (England and Wales)





AUDITORS: Walter Dawson & Son
Chartered Accountants
1 Valley Court
Canal Road
Bradford
West Yorkshire
BD1 4SP

PFF PACKAGING (SEDGEFIELD) LIMITED (REGISTERED NUMBER: 02548722)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 JANUARY 2024

The directors present their strategic report for the year ended 31 January 2024.

REVIEW OF BUSINESS
The primary activities of the company were that of the manufacture of plastic food packaging.

In October 2022, the trade and assets of PFF Packaging (Sedgefield) Limited (formerly Sirap (UK) Limited) were transferred into PFF Packaging (North East) Limited. At this point PFF Packaging (Sedgefield) Limited ceased to trade.

KEY PERFORMANCE INDICATORS
The key performance indicators that are used to manage the business are:

- Gross margin on materials %
- Operating profit %
- EBITDA %

FUTURE PROSPECTS
With the transfer of trade and assets in October 2022 to PFF Packaging (North East) Limited, the company ceased trading.

ON BEHALF OF THE BOARD:





Andrew Robert Bairstow - Director


18 October 2024

PFF PACKAGING (SEDGEFIELD) LIMITED (REGISTERED NUMBER: 02548722)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 JANUARY 2024

The directors present their report with the financial statements of the company for the year ended 31 January 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of a non trading company.

DIVIDENDS
The total distribution of dividends for the period ended 31 January 2024 will be £Nil (2023: £1,457,290).

DIRECTORS
The directors shown below have held office during the whole of the period from 1 February 2023 to the date of this report.

Robert Victor Atkin
Michelle Annette Bairstow
Andrew Robert Bairstow
Kenton Scott Robbins

Other changes in directors holding office are as follows:

Lee Graeme Wilkinson - appointed 5 October 2023

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

PFF PACKAGING (SEDGEFIELD) LIMITED (REGISTERED NUMBER: 02548722)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 JANUARY 2024


AUDITORS
The auditors, Walter Dawson & Son, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Andrew Robert Bairstow - Director


18 October 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
PFF PACKAGING (SEDGEFIELD) LIMITED

Opinion
We have audited the financial statements of PFF Packaging (Sedgefield) Limited (the 'company') for the year ended 31 January 2024 which comprise the Profit and Loss Account, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
_
In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 January 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
PFF PACKAGING (SEDGEFIELD) LIMITED


Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
PFF PACKAGING (SEDGEFIELD) LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risk of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
- we identified the laws and regulations applicable to the company through discussion's with directors and other management, and form our commercial knowledge and experience of the sector;
- we focussed on specific laws and regulations which considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation, data protection, anti-bribery, employment, environmental and health and safety legislation;
- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
- making enquiries of management as to where they considered there was a susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and overide of controls, we:
- performed analytical procedures to identify any unusual or unexpected relationships;
- tested journal entries to identify unusual transactions;
- assessed whether judgements and assumptions made in determining the accounting estimates set out in note 2 and where indicative of potential bias; and
- investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
- agreeing financial statement disclosures to underlying supporting documentation;
- reading the minutes of meetings of those charged with governance;
- enquiring of management as to actual and potential litigation and claims; and
- reviewing correspondence with HMRC, relevant regulators including the Health and Safety Executive, and the company's legal advisors.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.


REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
PFF PACKAGING (SEDGEFIELD) LIMITED

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




John Richard Hall FCA (Senior Statutory Auditor)
for and on behalf of Walter Dawson & Son
Chartered Accountants
1 Valley Court
Canal Road
Bradford
West Yorkshire
BD1 4SP

18 October 2024

PFF PACKAGING (SEDGEFIELD) LIMITED (REGISTERED NUMBER: 02548722)

PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 JANUARY 2024

Year Ended Period
31.1.24 1.11.21 to 31.1.23
Notes £    £    £    £   

TURNOVER - 11,911,775

Cost of sales - 9,362,710
GROSS PROFIT - 2,549,065

Distribution costs - 558,979
Administrative expenses (236,060 ) 3,729,582
(236,060 ) 4,288,561
OPERATING PROFIT/(LOSS) 5 236,060 (1,739,496 )

Interest receivable and similar income - 406
PROFIT/(LOSS) BEFORE TAXATION 236,060 (1,739,090 )

Tax on profit/(loss) 7 - -
PROFIT/(LOSS) FOR THE FINANCIAL
YEAR

236,060

(1,739,090

)

PFF PACKAGING (SEDGEFIELD) LIMITED (REGISTERED NUMBER: 02548722)

OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 JANUARY 2024

Period
1.11.21
Year Ended to
31.1.24 31.1.23
Notes £    £   

PROFIT/(LOSS) FOR THE YEAR 236,060 (1,739,090 )


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

236,060

(1,739,090

)

PFF PACKAGING (SEDGEFIELD) LIMITED (REGISTERED NUMBER: 02548722)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 9 - 614,447

CURRENT ASSETS
Debtors 10 5,898,991 5,048,484
NET CURRENT ASSETS 5,898,991 5,048,484
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,898,991

5,662,931

CAPITAL AND RESERVES
Called up share capital 11 7,667,666 7,667,666
Revaluation reserve 35,000 35,000
Profit and loss account (1,803,675 ) (2,039,735 )
SHAREHOLDERS' FUNDS 5,898,991 5,662,931

The financial statements were approved by the Board of Directors and authorised for issue on 18 October 2024 and were signed on its behalf by:





Andrew Robert Bairstow - Director


PFF PACKAGING (SEDGEFIELD) LIMITED (REGISTERED NUMBER: 02548722)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JANUARY 2024

Called up Profit
share and loss Revaluation Total
capital account reserve equity
£    £    £    £   
Balance at 1 November 2021 7,667,666 1,156,645 35,000 8,859,311

Changes in equity
Dividends - (1,457,290 ) - (1,457,290 )
Total comprehensive income - (1,739,090 ) - (1,739,090 )
Balance at 31 January 2023 7,667,666 (2,039,735 ) 35,000 5,662,931

Changes in equity
Total comprehensive income - 236,060 - 236,060
Balance at 31 January 2024 7,667,666 (1,803,675 ) 35,000 5,898,991

PFF PACKAGING (SEDGEFIELD) LIMITED (REGISTERED NUMBER: 02548722)

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

1. STATUTORY INFORMATION

PFF Packaging (Sedgefield) 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

FINANCIAL REPORTING STANDARD 102 - REDUCED DISCLOSURE EXEMPTIONS
The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows.

RELATED PARTY EXEMPTION
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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.

Buildings30 - 35 years
Plant and machinery3 - 20 years
LandNot depreciated

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


PFF PACKAGING (SEDGEFIELD) LIMITED (REGISTERED NUMBER: 02548722)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 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.

REVENUE RECOGNITION
Income is recognised when services have been completed such that the risks and rewards of ownership have transferred to them.

3. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In the application of the Company's accounting policies, which are described in this note, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the year in which the estimate is revised if the revision affects only that year, or in the year of the revision and future periods if the revision affects both current and future years.

In the current year there is one critical accounting judgement in respect of the recognition of deferred tax assets which is limited to the extent that it is probable that they will be recovered against future taxable profits and the reversal of deferred tax liabilities. Judgement is required in the assessment of future taxable profits.

PFF PACKAGING (SEDGEFIELD) LIMITED (REGISTERED NUMBER: 02548722)

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

4. EMPLOYEES AND DIRECTORS
Period
1.11.21
Year Ended to
31.1.24 31.1.23
£    £   
Wages and salaries - 2,578,737
Social security costs - 206,847
Other pension costs - 18,700
- 2,804,284

The average number of employees during the year was as follows:
Period
1.11.21
Year Ended to
31.1.24 31.1.23

Production - 61
Selling and administration 5 9
5 70

Period
1.11.21
Year Ended to
31.1.24 31.1.23
£    £   
Directors' remuneration - 61,195
Directors' pension contributions to money purchase schemes - 5,627

5. OPERATING PROFIT/(LOSS)

The operating profit (2023 - operating loss) is stated after charging/(crediting):

Period
1.11.21
Year Ended to
31.1.24 31.1.23
£    £   
Other operating leases - 164,407
Depreciation - owned assets - 775,333
Profit on disposal of fixed assets (251,059 ) -
Auditors' remuneration - 15,225
Foreign exchange differences - 54,043

PFF PACKAGING (SEDGEFIELD) LIMITED (REGISTERED NUMBER: 02548722)

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

6. EXCEPTIONAL ITEMS
Period
1.11.21
Year Ended to
31.1.24 31.1.23
£    £   
Exceptional items - (4,826 )

7. TAXATION

Analysis of the tax charge
No liability to UK corporation tax arose for the year ended 31 January 2024 nor for the period ended 31 January 2023.

RECONCILIATION OF TOTAL TAX CHARGE INCLUDED IN PROFIT AND LOSS
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

Period
1.11.21
Year Ended to
31.1.24 31.1.23
£    £   
Profit/(loss) before tax 236,060 (1,739,090 )
Profit/(loss) multiplied by the standard rate of corporation tax in
the UK of 25% (2023 - 19%)

59,015

(330,427

)

Effects of:
Income not taxable for tax purposes (59,015 ) -
Depreciation in excess of capital allowances - 330,350
Utilisation of tax losses - 77

asset
Total tax charge - -

8. DIVIDENDS
Period
1.11.21
Year Ended to
31.1.24 31.1.23
£    £   
Ordinary shares of 1 each
Interim - 1,457,290

PFF PACKAGING (SEDGEFIELD) LIMITED (REGISTERED NUMBER: 02548722)

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

9. TANGIBLE FIXED ASSETS
Freehold
property
£   
COST
At 1 February 2023 759,649
Disposals (759,649 )
At 31 January 2024 -
DEPRECIATION
At 1 February 2023 145,202
Eliminated on disposal (145,202 )
At 31 January 2024 -
NET BOOK VALUE
At 31 January 2024 -
At 31 January 2023 614,447

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 5,853,991 5,048,484
Other debtors 45,000 -
5,898,991 5,048,484

Amounts owed by group undertakings in respect of inter-company trading balances are repayable on demand, and have no securities, payments date on interest rate.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
7,667,666 Ordinary 1 7,667,666 7,667,666

12. PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The assets of the pension scheme are held separately from those of the company in an independently administered fund. The pension cost represents contributions payable by the company to the fund and amounted to £Nil (2023: £84,790). Contributions totalling £Nil (2023: £Nil) were payable to the fund at the year end and are included in creditors.

PFF PACKAGING (SEDGEFIELD) LIMITED (REGISTERED NUMBER: 02548722)

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

13. ULTIMATE PARENT COMPANY

As at 31 October 2021 the ultimate controlling party was Italmobiliare S.p.A., a company incorporated in Italy, listed on the Italian stock exchange. The financial statements of the ultimate parent can be obtained from their registered office at Via Borgonuovo, 20, 20121 Milan, Italy.

On 12 November 2021 the company was acquired by PFF Packaging Group Limited after which the ultimate controlling party was PFF Group Limited