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REGISTERED NUMBER: 02148967 (England and Wales)
















Financial Statements for the Year Ended 30 September 2024

for

Packexe Limited

Packexe Limited (Registered number: 02148967)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Packexe Limited

Company Information
for the Year Ended 30 September 2024







DIRECTOR: A H Orchard





REGISTERED OFFICE: 9 Marsh Green Road
Marsh Barton Industrial Estate
Exeter
Devon
EX2 8NY





REGISTERED NUMBER: 02148967 (England and Wales)





ACCOUNTANTS: Plunkett Yates Limited
1 Charlotte Mews
Pavilion Place
Exeter
Devon
EX2 4HA

Packexe Limited (Registered number: 02148967)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 34,643 27,355
Tangible assets 5 269,924 662,421
Investments 6 100,000 100,000
404,567 789,776

CURRENT ASSETS
Stocks 453,248 445,230
Debtors 7 1,588,432 779,887
Cash at bank and in hand 130,470 414,257
2,172,150 1,639,374
CREDITORS
Amounts falling due within one year 8 556,215 520,698
NET CURRENT ASSETS 1,615,935 1,118,676
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,020,502

1,908,452

PROVISIONS FOR LIABILITIES 56,286 59,870
NET ASSETS 1,964,216 1,848,582

CAPITAL AND RESERVES
Called up share capital 50,000 50,000
Retained earnings 1,914,216 1,798,582
SHAREHOLDERS' FUNDS 1,964,216 1,848,582

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Packexe Limited (Registered number: 02148967)

Balance Sheet - continued
30 September 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 director and authorised for issue on 19 February 2025 and were signed by:





A H Orchard - Director


Packexe Limited (Registered number: 02148967)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Packexe 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - straight line over the life of the lease
Plant and machinery - 10% on cost
Fixtures and fittings - at varying rates on cost
Motor vehicles - 25% on cost

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.

Packexe Limited (Registered number: 02148967)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued

Research and development
Expenditure on research and development is written off in the year in which it is incurred. Development expenditure is written off in the same way unless the director is satisfied as to the technical, commercial and financial viability of individual projects. In this situation, the expenditure is deferred and amortised over the period during which the company is expected to benefit.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

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 10 (2023 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
At 1 October 2023 104,819
Additions 26,151
At 30 September 2024 130,970
AMORTISATION
At 1 October 2023 77,464
Amortisation for year 18,863
At 30 September 2024 96,327
NET BOOK VALUE
At 30 September 2024 34,643
At 30 September 2023 27,355

Packexe Limited (Registered number: 02148967)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 October 2023 587,815 1,243,348 419,533 106,178 2,356,874
Additions - 15,685 18,233 - 33,918
Disposals (587,815 ) - - - (587,815 )
At 30 September 2024 - 1,259,033 437,766 106,178 1,802,977
DEPRECIATION
At 1 October 2023 248,879 966,997 372,399 106,178 1,694,453
Charge for year 2,939 67,384 20,095 - 90,418
Eliminated on disposal (251,818 ) - - - (251,818 )
At 30 September 2024 - 1,034,381 392,494 106,178 1,533,053
NET BOOK VALUE
At 30 September 2024 - 224,652 45,272 - 269,924
At 30 September 2023 338,936 276,351 47,134 - 662,421

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 October 2023
and 30 September 2024 100,000
NET BOOK VALUE
At 30 September 2024 100,000
At 30 September 2023 100,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 261,853 332,432
Amounts owed by group undertakings 1,299,555 427,076
Other debtors 27,024 20,379
1,588,432 779,887

Packexe Limited (Registered number: 02148967)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Bank loans and overdrafts 126,836 4,300
Trade creditors 277,117 347,950
Taxation and social security 128,598 147,819
Other creditors 23,664 20,629
556,215 520,698

9. SECURED DEBTS

The following secured debts are included within creditors:

30.9.24 30.9.23
£    £   
Bank overdraft 126,836 -
Bank loans - 4,300
126,836 4,300

10. CONTINGENT LIABILITIES

The company has a cross guarantee with Packexe (Holdings) Limited given to the bank in respect of their borrowings.

11. RELATED PARTY DISCLOSURES

Included in Debtors is an amount of £1,299,555 (2023: £472,076) due from Packexe (Holdings) Limited.

During the year the Long leasehold property was transferred to Packexe Holdings Ltd at its Net Book Value.

12. ULTIMATE CONTROLLING PARTY

The controlling party is Packexe (Holdings) Limited.