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REGISTERED NUMBER: 12488888 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

PACKAGING-X LTD

PACKAGING-X LTD (REGISTERED NUMBER: 12488888)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PACKAGING-X LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: M J Stephens
A Johnstone





SECRETARY:





REGISTERED OFFICE: Unit B4
King Alfred Way
Cheltenham
GL52 6QP





REGISTERED NUMBER: 12488888 (England and Wales)





ACCOUNTANTS: Devereux & Co
2 Court Mews
268 London Road
Charlton Kings
Cheltenham
Gloucestershire
GL52 6HS

PACKAGING-X LTD (REGISTERED NUMBER: 12488888)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 14,054 11,422

CURRENT ASSETS
Stocks 4,650 4,650
Debtors 5 72,689 24,718
Cash at bank 652 5,703
77,991 35,071
CREDITORS
Amounts falling due within one year 6 110,903 15,706
NET CURRENT (LIABILITIES)/ASSETS (32,912 ) 19,365
TOTAL ASSETS LESS CURRENT
LIABILITIES

(18,858

)

30,787

CREDITORS
Amounts falling due after more than one
year

7

39,726

39,868
NET LIABILITIES (58,584 ) (9,081 )

CAPITAL AND RESERVES
Called up share capital 100 1
Retained earnings (58,684 ) (9,082 )
(58,584 ) (9,081 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

PACKAGING-X LTD (REGISTERED NUMBER: 12488888)

BALANCE SHEET - continued
29 FEBRUARY 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 October 2024 and were signed on its behalf by:





M J Stephens - Director


PACKAGING-X LTD (REGISTERED NUMBER: 12488888)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Packaging-X LTD 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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.
Land and buildings - 10% on cost
Plant and machinery etc - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - NIL ) .

PACKAGING-X LTD (REGISTERED NUMBER: 12488888)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 March 2023 1,462 18,365 19,827
Additions - 7,002 7,002
At 29 February 2024 1,462 25,367 26,829
DEPRECIATION
At 1 March 2023 439 7,966 8,405
Charge for year 146 4,224 4,370
At 29 February 2024 585 12,190 12,775
NET BOOK VALUE
At 29 February 2024 877 13,177 14,054
At 28 February 2023 1,023 10,399 11,422

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 71,669 5,734
Other debtors 1,020 18,984
72,689 24,718

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,305 5,305
Trade creditors 26,481 145
Taxation and social security 5,222 405
Other creditors 73,895 9,851
110,903 15,706

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 39,726 39,868

8. ULTIMATE CONTROLLING PARTY

The controlling party is M J Stephens.