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Registered number: 11359094
CEG Packaging Limited
Unaudited Financial Statements
For The Year Ended 31 May 2024
Unaudited Financial Statements
Contents
Page
Company Information 1
Accountant's Report 2
Balance Sheet 3—4
Notes to the Financial Statements 5—9
Page 1
Company Information
Directors Mr C E Graham
Mrs L M Graham
Company Number 11359094
Registered Office Unit 1 Garston Quays Blackburne Street
Garston
Liverpool
Merseyside
L19 8EL
Accountants ERC Accountants & Business Advisers Limited
Chartered Accountants
Hanover Buildings, 11-13 Hanover Street
Liverpool
Merseyside
L1 3DN
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Accountant's Report
Chartered Accountant's report to the directors on the preparation of the unaudited statutory accounts of CEG Packaging Limited for the year ended 31 May 2024
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of CEG Packaging Limited for the year ended 31 May 2024 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given to us.
As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/membership/regulations-standards-and-guidance.
This report is made solely to the directors of CEG Packaging Limited , as a body, in accordance with the terms of our engagement letter dated 13 March 2024. Our work has been undertaken solely to prepare for your approval the accounts of CEG Packaging Limited and state those matters that we have agreed to state to the directors of CEG Packaging Limited , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than CEG Packaging Limited and its directors, as a body, for our work or for this report.
It is your duty to ensure that CEG Packaging Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of CEG Packaging Limited . You consider that CEG Packaging Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of CEG Packaging Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
1 November 2024
ERC Accountants & Business Advisers Limited
Chartered Accountants
Hanover Buildings, 11-13 Hanover Street
Liverpool
Merseyside
L1 3DN
Page 2
Page 3
Balance Sheet
Registered number: 11359094
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 2,400 3,000
Tangible Assets 5 360,416 359,851
362,816 362,851
CURRENT ASSETS
Stocks 6 160,000 78,000
Debtors 7 287,461 309,324
Cash at bank and in hand 10,651 53,341
458,112 440,665
Creditors: Amounts Falling Due Within One Year 8 (645,600 ) (626,563 )
NET CURRENT ASSETS (LIABILITIES) (187,488 ) (185,898 )
TOTAL ASSETS LESS CURRENT LIABILITIES 175,328 176,953
Creditors: Amounts Falling Due After More Than One Year 9 (104,750 ) (97,874 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (115,104 ) (89,962 )
NET LIABILITIES (44,526 ) (10,883 )
CAPITAL AND RESERVES
Called up share capital 11 2 2
Revaluation reserve 13 100,000 100,000
Profit and Loss Account (144,528 ) (110,885 )
SHAREHOLDERS' FUNDS (44,526) (10,883)
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Page 4
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr C E Graham
Director
1 November 2024
The notes on pages 5 to 9 form part of these financial statements.
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Page 5
Notes to the Financial Statements
1. General Information
CEG Packaging Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11359094 . The registered office is Unit 1 Garston Quays Blackburne Street, Garston, Liverpool, Merseyside, L19 8EL.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

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'.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.4. Tangible Fixed Assets and Depreciation
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.
Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 10% Reducing Balance
Plant and machinery 15% Reducing Balance
Motor vehicles 25% Reducing Balance
Fixtures and fittings 15% Reducing Balance
Computer equipment 15% Reducing Balance
2.5. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.7. Financial Instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
2.8. Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 17 (2023: 18)
17 18
4. Intangible Assets
Goodwill
£
Cost
As at 1 June 2023 6,000
As at 31 May 2024 6,000
Amortisation
As at 1 June 2023 3,000
Provided during the period 600
As at 31 May 2024 3,600
Net Book Value
As at 31 May 2024 2,400
As at 1 June 2023 3,000
5. Tangible Assets
Land & Property
Freehold Plant and machinery Motor vehicles Fixtures and fittings
£ £ £ £
Cost
As at 1 June 2023 2,676 329,489 127,311 31,114
Additions - - 79,340 -
Disposals - - (29,882 ) -
As at 31 May 2024 2,676 329,489 176,769 31,114
...CONTINUED
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Page 7
Depreciation
As at 1 June 2023 508 86,990 34,743 12,176
Provided during the period 217 36,375 33,060 2,841
Disposals - - (23,402 ) -
As at 31 May 2024 725 123,365 44,401 15,017
Net Book Value
As at 31 May 2024 1,951 206,124 132,368 16,097
As at 1 June 2023 2,168 242,499 92,568 18,938
Computer equipment Total
£ £
Cost
As at 1 June 2023 5,352 495,942
Additions 882 80,222
Disposals - (29,882 )
As at 31 May 2024 6,234 546,282
Depreciation
As at 1 June 2023 1,674 136,091
Provided during the period 684 73,177
Disposals - (23,402 )
As at 31 May 2024 2,358 185,866
Net Book Value
As at 31 May 2024 3,876 360,416
As at 1 June 2023 3,678 359,851
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2024 2023
£ £
Plant and machinery 39,888 46,927
Motor vehicles 132,261 91,292
172,149 138,219
6. Stocks
2024 2023
£ £
Materials 160,000 78,000
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 287,461 309,324
287,461 309,324
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8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 40,974 31,692
Trade creditors 256,293 229,489
Bank loans and overdrafts 277,295 305,041
Corporation tax 14,341 5,437
Other taxes and social security 5,355 7,581
VAT 46,503 37,144
Net wages - 5,550
Other creditors 462 301
Accruals and deferred income 4,342 4,042
Directors' loan accounts 35 286
645,600 626,563
The Bounce Back Loan and CBIL are 100% secured by the government and no charge over the assets of the company.
A fixed and floating charge is held by Skipton Business Finance Limited over all current and future assets of the company dated 28 June 2018.
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 94,686 60,850
Bank loans 10,064 37,024
104,750 97,874
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 40,974 31,692
Later than one year and not later than five years 94,686 60,850
135,660 92,542
135,660 92,542
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
12. Directors Advances, Credits and Guarantees
No director received advances, credits or guarantees during the current or previous accounting periods.
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13. Reserves
Revaluation Reserve
£
As at 1 June 2023 100,000
As at 31 May 2024 100,000
14. Related Party Transactions
The following related party transactions were undertaken during the year:
The directors withdrew monies totalling £44,684 (2023: £87,599) and introduced money totalling £44,433 (2022: £87,624) the balance payable to the directors at the year end was £35 (2023: £286).
Dividends were paid to the directors in respect of their shareholdings totalling £49,000 (2023: £76,000).
No further transactions with related parties were undertaken such as are required to be disclosed in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
15. Going Concern
The company is able to meet its day to day working capital requirements through the support of its director. Therefore, the director considers it appropriate to prepare the financial statements on the going concern basis.

10.1 Illegal dividend

At the time the dividend was paid the director were not aware that there were insufficent profits available for distribution and the director acknowledged that no further distributions can be made until there are sufficient profits available for that purpose. The director anticipates future profits in the coming years.
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