CUSTOMPAC HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
Custompac Holdings Limited is a private company limited by shares, incorporated in England and Wales (registered number: 04340354). 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 a holding company.
2.Accounting policies
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Basis of preparation of financial statements
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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:
Investments in subsidiaries, along with other assets which are not publicly traded and where fair value cannot be measured reliably are measured at cost less accumulated impairment.
Dividends on equity securities are recognised in income when receivable.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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.
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The average monthly number of employees, including directors, during the year was 3 (2023 - 3).
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