Registered number
12183105
PACKWOOD TECHNOLOGY LTD
Filleted Accounts
31 December 2024
PACKWOOD TECHNOLOGY LTD
Registered number: 12183105
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 780 975
Current assets
Debtors 4 31,585 11,455
Cash at bank and in hand 48,551 10,375
80,136 21,830
Creditors: amounts falling due within one year 5 (189,423) (107,891)
Net current liabilities (109,287) (86,061)
Net liabilities (108,507) (85,086)
Capital and reserves
Called up share capital 84,164 84,164
Profit and loss account (192,671) (169,250)
Shareholder's funds (108,507) (85,086)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Ms Suying He
Director
Approved by the board on 5 February 2025
PACKWOOD TECHNOLOGY LTD
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2024 975
At 31 December 2024 975
Depreciation
Charge for the year 195
At 31 December 2024 195
Net book value
At 31 December 2024 780
At 31 December 2023 975
4 Debtors 2024 2023
£ £
Trade debtors 31,585 9,160
Other debtors - 2,295
31,585 11,455
5 Creditors: amounts falling due within one year 2024 2023
£ £
Loan invested parent company 165,420 66,786
Trade creditors - 47
Taxation and social security costs 14,725 393
Director's account 555 36,150
Other creditors 8,723 4,515
189,423 107,891
6 Controlling party
The company is 100% controlled by its parent company: Tianjing Dongyu Mechanical Equipment Technology Co., Ltd. The parent company registered address: 2-720, Ligang Building, 82 West Second Road, Tianjin Pilot Free Trade Zone (Airport Economic Zone).
7 Other information
PACKWOOD TECHNOLOGY LTD is a private company limited by shares and incorporated in England. Its registered office is:
Room 827, 1 Victoria Square, 
Birmingham
England
B1 1BD
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