Caseware UK (AP4) 2023.0.135 2023.0.135 2024-08-312024-08-31trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-09-01falseManufacture of plastic packing goods2729truefalse 01274926 2023-09-01 2024-08-31 01274926 2022-09-01 2023-08-31 01274926 2024-08-31 01274926 2023-08-31 01274926 2022-09-01 01274926 c:Director4 2023-09-01 2024-08-31 01274926 d:Buildings 2023-09-01 2024-08-31 01274926 d:Buildings 2024-08-31 01274926 d:Buildings 2023-08-31 01274926 d:Buildings d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 01274926 d:Buildings d:LeasedAssetsHeldAsLessee 2023-09-01 2024-08-31 01274926 d:PlantMachinery 2023-09-01 2024-08-31 01274926 d:PlantMachinery 2024-08-31 01274926 d:PlantMachinery 2023-08-31 01274926 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 01274926 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-09-01 2024-08-31 01274926 d:MotorVehicles 2023-09-01 2024-08-31 01274926 d:MotorVehicles 2024-08-31 01274926 d:MotorVehicles 2023-08-31 01274926 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 01274926 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-09-01 2024-08-31 01274926 d:FurnitureFittings 2023-09-01 2024-08-31 01274926 d:FurnitureFittings 2024-08-31 01274926 d:FurnitureFittings 2023-08-31 01274926 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 01274926 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2023-09-01 2024-08-31 01274926 d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 01274926 d:LeasedAssetsHeldAsLessee 2023-09-01 2024-08-31 01274926 d:CurrentFinancialInstruments 2024-08-31 01274926 d:CurrentFinancialInstruments 2023-08-31 01274926 d:Non-currentFinancialInstruments 2024-08-31 01274926 d:Non-currentFinancialInstruments 2023-08-31 01274926 d:CurrentFinancialInstruments d:WithinOneYear 2024-08-31 01274926 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 01274926 d:Non-currentFinancialInstruments d:AfterOneYear 2024-08-31 01274926 d:Non-currentFinancialInstruments d:AfterOneYear 2023-08-31 01274926 d:ShareCapital 2024-08-31 01274926 d:ShareCapital 2023-08-31 01274926 d:RetainedEarningsAccumulatedLosses 2024-08-31 01274926 d:RetainedEarningsAccumulatedLosses 2023-08-31 01274926 c:FRS102 2023-09-01 2024-08-31 01274926 c:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 01274926 c:FullAccounts 2023-09-01 2024-08-31 01274926 c:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 01274926 d:AcceleratedTaxDepreciationDeferredTax 2024-08-31 01274926 d:AcceleratedTaxDepreciationDeferredTax 2023-08-31 01274926 d:TaxLossesCarry-forwardsDeferredTax 2024-08-31 01274926 d:TaxLossesCarry-forwardsDeferredTax 2023-08-31 01274926 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-08-31 01274926 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-08-31 01274926 e:PoundSterling 2023-09-01 2024-08-31 iso4217:GBP xbrli:pure

Registered number: 01274926










CUSTOMPAC LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

 
CUSTOMPAC LIMITED
REGISTERED NUMBER: 01274926

BALANCE SHEET
AS AT 31 AUGUST 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,784,761
2,624,651

Current assets
  

Stocks
  
135,250
147,650

Debtors: amounts falling due within one year
 5 
312,671
346,934

Cash at bank and in hand
  
1,107,820
874,575

  
1,555,741
1,369,159

Creditors: amounts falling due within one year
 6 
(534,255)
(714,469)

Net current assets
  
 
 
1,021,486
 
 
654,690

Total assets less current liabilities
  
3,806,247
3,279,341

Creditors: amounts falling due after more than one year
 7 
(4,117)
(30,612)

Provisions for liabilities
  

Deferred tax
 8 
(158,965)
(87,082)

Net assets
  
3,643,165
3,161,647


Capital and reserves
  

Called up share capital 
  
800
800

Profit and loss account
  
3,642,365
3,160,847

  
3,643,165
3,161,647


Page 1

 
CUSTOMPAC LIMITED
REGISTERED NUMBER: 01274926
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 22 January 2025.




J E J Smith
Director

The notes on pages 3 to 8 form part of these financial statements.
Page 2

 
CUSTOMPAC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1.


General information

Custompac Limited is a private company limited by shares, incorporated in England and Wales (registered number: 01274926). Its registered office is Delta Works, 27 Methley Road, Castleford, West Yorkshire, WF10 1PA. The principal activity of the Company throughout the year continued to be that of the manufacture and design of polystyrene and foam products.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The Company's functional and presentation currency is pounds sterling.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.
Page 3

 
CUSTOMPAC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows.

The depreciation rates used are:

Freehold land and buildings
-
2% straight line (buildings)
Plant and machinery
-
10% straight line
Motor vehicles
-
25% reducing balance
Furniture, fittings and equipment
-
15% - 33% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially
and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan. 
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


 
2.6

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Page 4

 
CUSTOMPAC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.7

Leased assets: the Company as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase 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 creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

Current and deferred taxation

Tax is recognised in the Statement of Income and Retained Earnings.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.


3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Employees
27
29

Page 5

 
CUSTOMPAC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

4.


Tangible fixed assets





Freehold land and buildings
Other property, plant and equipment
Motor vehicles
Furniture, fittings and equipment
Total

£
£
£
£
£



Cost


At 1 September 2023
2,147,708
1,993,985
385,610
98,003
4,625,306


Additions
5,495
275,533
-
724
281,752



At 31 August 2024

2,153,203
2,269,518
385,610
98,727
4,907,058



Depreciation


At 1 September 2023
50,374
1,639,912
221,939
88,430
2,000,655


Charge for the year on owned assets
4,000
62,091
25,207
5,571
96,869


Charge for the year on financed assets
-
-
24,773
-
24,773



At 31 August 2024

54,374
1,702,003
271,919
94,001
2,122,297



Net book value



At 31 August 2024
2,098,829
567,515
113,691
4,726
2,784,761



At 31 August 2023
2,097,334
354,073
163,671
9,573
2,624,651

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Motor vehicles
47,543
72,316

Page 6

 
CUSTOMPAC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

5.


Debtors

2024
2023
£
£


Trade debtors
240,682
315,083

Other debtors
4,474
4,120

Prepayments and accrued income
67,515
27,731

312,671
346,934



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
128,863
184,802

Amounts owed to group undertakings
119,056
-

Corporation tax
80,146
107,647

Other taxation and social security
88,682
157,328

Obligations under finance lease and hire purchase contracts
26,495
26,495

Other creditors
-
2,453

Accruals and deferred income
91,013
235,744

534,255
714,469


The amounts held within obligations under finance leases and hire purchase contracts are secured against the assets in which they relate.
Included in other creditors is a directors loan balance of £NIL (2023: £2,453) which was repaid during the period.


7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
4,117
30,612


The amounts held within obligations under finance leases and hire purchase contracts are secured against the assets in which they relate.

Page 7

 
CUSTOMPAC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

8.


Deferred taxation




2024
2023


£

£






At beginning of year
87,082
78,527


Charged to profit or loss
71,883
8,555



At end of year
158,965
87,082

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
158,965
117,045

Short term timing differences
-
(29,963)

158,965
87,082

 
Page 8