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REGISTERED NUMBER: 06942188 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

TK PACKAGING LIMITED

TK PACKAGING LIMITED (REGISTERED NUMBER: 06942188)

Contents of the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TK PACKAGING LIMITED

Company Information
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr Edip Karakaya
Mr Semih Turktas





REGISTERED OFFICE: Ernest House
293 Green Lanes
Palmers Green
London
N13 4XS





REGISTERED NUMBER: 06942188 (England and Wales)





ACCOUNTANTS: ADPL LLP
293 Green Lanes
London
N13 4XS

TK PACKAGING LIMITED (REGISTERED NUMBER: 06942188)

Balance Sheet
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 21,486 28,647

CURRENT ASSETS
Stocks 291,127 289,000
Debtors 5 1,257,639 1,222,684
Cash at bank and in hand 726,426 788,412
2,275,192 2,300,096
CREDITORS
Amounts falling due within one year 6 1,220,832 1,519,554
NET CURRENT ASSETS 1,054,360 780,542
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,075,846

809,189

CREDITORS
Amounts falling due after more than one
year

7

(3,222

)

90,116

PROVISIONS FOR LIABILITIES 8 (5,372 ) (5,443 )
NET ASSETS 1,067,252 893,862

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 1,066,252 892,862
SHAREHOLDERS' FUNDS 1,067,252 893,862

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

TK PACKAGING LIMITED (REGISTERED NUMBER: 06942188)

Balance Sheet - continued
31 MARCH 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 4 December 2024 and were signed on its behalf by:




Mr Semih Turktas - Director



Mr Edip Karakaya - Director


TK PACKAGING LIMITED (REGISTERED NUMBER: 06942188)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

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

The accounts are prepared on a going concern basis, the use of the going concern basis of accounting is appropriate because there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.

In carrying out this assessment, the directors have considered the impact of the Covid-19 pandemic on the trade and finances of the company and wider group and they have taken steps to protect liquidity.
The directors are therefore satisfied that there is no significant risk to the ability of the company to continue as a going concern for at least 12 months from the date of approval of these financial statements.

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 the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 13 ) .

TK PACKAGING LIMITED (REGISTERED NUMBER: 06942188)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023
and 31 March 2024 11,157 703 66,548 14,289 92,697
DEPRECIATION
At 1 April 2023 9,368 703 40,846 13,133 64,050
Charge for year 447 - 6,425 289 7,161
At 31 March 2024 9,815 703 47,271 13,422 71,211
NET BOOK VALUE
At 31 March 2024 1,342 - 19,277 867 21,486
At 31 March 2023 1,789 - 25,702 1,156 28,647

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2023
and 31 March 2024 52,438
DEPRECIATION
At 1 April 2023 34,697
Charge for year 4,435
At 31 March 2024 39,132
NET BOOK VALUE
At 31 March 2024 13,306
At 31 March 2023 17,741

5. DEBTORS
31.3.24 31.3.23
£    £   
Amounts falling due within one year:
Trade debtors 769,039 992,984
Other debtors 13,200 13,200
782,239 1,006,184

Amounts falling due after more than one year:
Loan to Semidi Property Invest 475,400 216,500

Aggregate amounts 1,257,639 1,222,684

TK PACKAGING LIMITED (REGISTERED NUMBER: 06942188)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts 5,108 5,108
Trade creditors 893,422 1,308,895
Tax 93,494 67,623
Social security and other taxes (857 ) (1,228 )
Pension 236 205
VAT 228,439 130,929
Other creditors 990 8,022
1,220,832 1,519,554

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Invoice finance - (98,447 )
Hire purchase contracts 3,222 8,331
3,222 (90,116 )

8. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 5,372 5,443

Deferred
tax
£   
Balance at 1 April 2023 5,443
Credit to Income Statement during year (71 )
Balance at 31 March 2024 5,372

9. ULTIMATE CONTROLLING PARTY

The company was under the control of the directors Mr Edip Karakaya and Mr Semih Turktas by virtue of their 50% sharholding respectively in the company.