REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024 |
FOR |
BURGOPAK HOLDINGS LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024 |
FOR |
BURGOPAK HOLDINGS LIMITED |
BURGOPAK HOLDINGS LIMITED (REGISTERED NUMBER: 05589180) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
BURGOPAK HOLDINGS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MAY 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
114-116 Goodmayes Road |
Ilford |
Esex |
IG3 9UZ |
BURGOPAK HOLDINGS LIMITED (REGISTERED NUMBER: 05589180) |
BALANCE SHEET |
31 MAY 2024 |
31.5.24 | 31.5.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
CURRENT ASSETS |
Debtors | 5 |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Other reserves | 8 |
Retained earnings | 8 |
SHAREHOLDERS' FUNDS |
The financial statements were approved by the Board of Directors and authorised for issue on |
BURGOPAK HOLDINGS LIMITED (REGISTERED NUMBER: 05589180) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2024 |
1. | STATUTORY INFORMATION |
Burgopak Holdings Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The company is the parent undertaking of a small group and as such is not required by the Companies Act 2006 to prepare group accounts. These financial statements therefore present information about the company as an individual undertaking only. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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. |
Investments |
Investments held as fixed assets are shown at cost less provision for impairment. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
BURGOPAK HOLDINGS LIMITED (REGISTERED NUMBER: 05589180) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2024 |
4. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 June 2023 |
and 31 May 2024 |
NET BOOK VALUE |
At 31 May 2024 |
At 31 May 2023 |
Subsidiary undertakings |
The following were subsidiary undertakings of the company: |
Name | Class of Shares | Holding |
Burgopak Limited | Ordinary | 100% |
Duff Design Limited | Ordinary | 100% |
The aggregate of the share capital & reserves as at 31 May 2024 and of the profit or loss for the year ended on that date for the subsidiary undertakings were as follows: |
Name | Aggregate of share | Profit/(loss) |
capital & reserves |
£ | £ |
Burgopak Limited | 3,535,870 | 896,546 |
Duff Design Limited | 1,000 |
The principal activities of Burgopak Limited is the design & production of creative packaging. Currently Duff Design Limited is a dormant company. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.24 | 31.5.23 |
£ | £ |
Amounts owed by group undertakings |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.24 | 31.5.23 |
£ | £ |
Amounts owed to group undertakings |
Other creditors |
7. | CALLED UP SHARE CAPITAL |
Allotted and issued: |
Number: | Class: | Nominal | 31.5.24 | 31.5.23 |
value: | £ | £ |
Share capital | £0.00 | 01 | 290 | 288 |
BURGOPAK HOLDINGS LIMITED (REGISTERED NUMBER: 05589180) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2024 |
8. | RESERVES |
Retained | Other |
earnings | reserves | Totals |
£ | £ | £ |
At 1 June 2023 | 898,728 |
Profit for the year |
Bonus share issue |
At 31 May 2024 | 898,847 |
Other reserves of £450,082 are in respect of the fair value of the share options issued as part of the consideration for the acquisition of Burgopak Germany Limited in the year ended 31 May 2008. |
9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was qualified on the following basis: |
Basis for Qualified opinion of the financial statements |
Patent and Trademarks |
The Patent and Trademarks are accounted at cost in the Financial Statements of Burgopak Limited as at 31 May 2024. Management has not stated the patents and trademarks at fair value which constitute a departure from the IFRSs. Hence, we are not able to comment on the fair value in the financial statements as at 31 May 2024. |
This will impact the financial statements of Burgopak Limited and its position whether it will be able to repay the full amount which has been outstanding since 2011. |
for and on behalf of |
10. | RELATED PARTY DISCLOSURES |
At 31 May 2024 the company was owed £967,953 (2023: £967,832) by Burgopak Limited, a subsidiary company. |
At 31 May 2024 the company owed its subsidiary Duff Design Limited £1,000 (2023: £1,000) and its related party Duallok Limited £1,000 (2023: £1,000) |
11. | SHARE-BASED PAYMENTS |
The company had operated a share option plan under which directors, senior management and other qualifying staff had been granted options to subscribe for ordinary shares in Burgopak Holdings Limited. All options are settled by the issues of shares. There are currently no options outstanding. |