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REGISTERED NUMBER: 04186315 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

FOR

BURGOPAK LIMITED

BURGOPAK LIMITED (REGISTERED NUMBER: 04186315)

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 LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: 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: 04186315 (England and Wales)





AUDITORS: Ashfords Partnership LLP
114-116 Goodmayes Road
Ilford
Esex
IG3 9UZ

BURGOPAK LIMITED (REGISTERED NUMBER: 04186315)

BALANCE SHEET
31 MAY 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 717,021 704,673
Tangible assets 5 51,089 57,627
768,110 762,300

CURRENT ASSETS
Stocks 21,674 43,043
Debtors 6 4,349,370 3,108,896
Cash at bank and in hand 1,680,224 676,534
6,051,268 3,828,473
CREDITORS
Amounts falling due within one year 7 3,283,508 1,951,449
NET CURRENT ASSETS 2,767,760 1,877,024
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,535,870

2,639,324

CAPITAL AND RESERVES
Called up share capital 133 133
Share premium 8 1,244,070 1,244,070
Retained earnings 8 2,291,667 1,395,121
SHAREHOLDERS' FUNDS 3,535,870 2,639,324

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 LIMITED (REGISTERED NUMBER: 04186315)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024


1. STATUTORY INFORMATION

Burgopak 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 and going concern
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.

During the financial year the company made an operating profit. Significant progress was made in increasing the income stream.

The parent company, Burgopak Holdings Limited, has also confirmed that it will continue to provide financial support to the company and provide the company with an undertaking that for at least 12 months from the date of approval of these financial statements, it will not seek repayment of the amount of £967,812 currently made available. As with any company placing reliance on other group entities for financial support, the directors acknowledge that there can be no certainty that this support will continue although at the date of these financial statements, they have no reason to believe that it will not do so.

Based on the steady trading of the company and the undertaking given by the parent company the directors believe that it remains appropriate to prepare the financial statements on a going concern basis.

Turnover
Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, excluding Value Added Tax.

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 & trademarks are being amortised evenly over their estimated useful life of twenty years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Leasehold improvements - 20% on cost
Fixtures and fittings - 33% on reducing balance
Computer equipment - 20% on reducing balance

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.


BURGOPAK LIMITED (REGISTERED NUMBER: 04186315)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


2. ACCOUNTING POLICIES - continued
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.

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.

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.

Going concern
The accounts have prepared on a going concern basis on the assumption that the Company will continue to receive adequate financial assistance from Burgopak Holdings Limited, the parent company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2023 - 26 ) .

4. INTANGIBLE FIXED ASSETS
Patents &
trademarks
£   
COST
At 1 June 2023 1,043,529
Additions 67,921
At 31 May 2024 1,111,450
AMORTISATION
At 1 June 2023 338,856
Amortisation for year 55,573
At 31 May 2024 394,429
NET BOOK VALUE
At 31 May 2024 717,021
At 31 May 2023 704,673

BURGOPAK LIMITED (REGISTERED NUMBER: 04186315)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


5. TANGIBLE FIXED ASSETS
Fixtures
Leasehold and Computer
improvements fittings equipment Totals
£    £    £    £   
COST
At 1 June 2023 28,660 219,050 325,683 573,393
Additions - - 6,607 6,607
At 31 May 2024 28,660 219,050 332,290 580,000
DEPRECIATION
At 1 June 2023 28,660 208,572 278,534 515,766
Charge for year - 3,458 9,687 13,145
At 31 May 2024 28,660 212,030 288,221 528,911
NET BOOK VALUE
At 31 May 2024 - 7,020 44,069 51,089
At 31 May 2023 - 10,478 47,149 57,627

6. DEBTORS
31.5.24 31.5.23
£    £   
Amounts falling due within one year:
Trade debtors 2,054,096 1,247,355
Other debtors 624,434 281,874
2,678,530 1,529,229

Amounts falling due after more than one year:
Other debtors 1,670,840 1,579,667

Aggregate amounts 4,349,370 3,108,896

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade creditors 1,514,613 744,919
Amounts owed to group undertakings 967,812 967,692
Taxation and social security 293,285 72,339
Other creditors 507,798 166,499
3,283,508 1,951,449

BURGOPAK LIMITED (REGISTERED NUMBER: 04186315)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


8. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1 June 2023 1,395,121 1,244,070 2,639,191
Profit for the year 896,546 896,546
At 31 May 2024 2,291,667 1,244,070 3,535,737

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 on financial statements
Patent and Trademarks

The Patent and Trademarks are accounted at cost in the Financial Statements 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.

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

10. RELATED PARTY DISCLOSURES

At 31 May 2024 the company was owed £1,670,840 (2023: £1,579,667) from Duallok Limited.

Duallok Limited has demerged from Burgopak Holdings Limited on 14/01/2020 and is no longer a group company. The amount owed by Duallok Limited to Burgopak Limited has been converted into a formal loan agreement between the related party entities who have common directors.

At 31 May 2024, the company owed £967,953 (2023: £967,832) to the parent company, Burgopak Holdings Limited.

11. ULTIMATE CONTROLLING PARTY

As at 31st May 2024, the company was controlled by Burgopak Holdings Limited, a parent company.

The ultimate controlling party are the shareholders of Burgopak Holdings Limited.