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REGISTERED NUMBER: 05589180 (England and Wales)















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: Mr T Baines
Mr S J P Bradley
Mr A Cleary
Ms R H Reardon
Mr D B Whitehurst





REGISTERED OFFICE: Units A&D,
Flat Iron Yard Southwark Bridge
Ayres Street
London
SE1 1ES





REGISTERED NUMBER: 05589180 (England and Wales)





AUDITORS: Ashfords Partnership LLP
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 1,159 1,159

CURRENT ASSETS
Debtors 5 967,953 967,832

CREDITORS
Amounts falling due within one year 6 69,975 69,975
NET CURRENT ASSETS 897,978 897,857
TOTAL ASSETS LESS CURRENT
LIABILITIES

899,137

899,016

CAPITAL AND RESERVES
Called up share capital 7 290 288
Other reserves 8 452,201 452,082
Retained earnings 8 446,646 446,646
SHAREHOLDERS' FUNDS 899,137 899,016

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 Board of Directors and authorised for issue on 21 February 2025 and were signed on its behalf by:





Ms R H Reardon - Director


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 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.

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 1,159
NET BOOK VALUE
At 31 May 2024 1,159
At 31 May 2023 1,159

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 967,953 967,832

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Amounts owed to group undertakings 1,000 1,000
Other creditors 68,975 68,975
69,975 69,975

7. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
2,703,617 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 446,646 452,082 898,728
Profit for the year - -
Bonus share issue - 119 119
At 31 May 2024 446,646 452,201 898,847

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.

Mr Ashok Mukundal Shah (Senior Statutory Auditor)
for and on behalf of Ashfords Partnership LLP

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.