Company registration number 02999616 (England and Wales)
DERWENT PACKAGING LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
DERWENT PACKAGING LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
DERWENT PACKAGING LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
31 December 2024
31 May 2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
330,410
446,495
Current assets
Stocks
277,937
209,940
Debtors
4
2,288,033
1,673,103
Cash at bank and in hand
-
0
8,387
2,565,970
1,891,430
Creditors: amounts falling due within one year
5
(1,598,336)
(974,606)
Net current assets
967,634
916,824
Total assets less current liabilities
1,298,044
1,363,319
Creditors: amounts falling due after more than one year
6
(520,562)
(653,272)
Provisions for liabilities
(16,789)
(30,753)
Net assets
760,693
679,294
Capital and reserves
Called up share capital
18,200
18,200
Capital redemption reserve
6,000
6,000
Profit and loss reserves
736,493
655,094
Total equity
760,693
679,294
DERWENT PACKAGING LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2024
31 December 2024
- 2 -

For the financial period ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 26 February 2025 and are signed on its behalf by:
Mr N Haywood
Director
Company registration number 02999616 (England and Wales)
DERWENT PACKAGING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information

Derwent Packaging Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 4A, Denby Hall Business Park, Denby, Derbyshire, DE5 8JX. The company registration number is 02999616.

1.1
Reporting period

These financial statements present a shortened period covering 1 June 2024 to 31 December 2024. The accounting period was aligned with the calendar year and, comparative amounts presented in the financial statements, including the related notes, are not entirely comparable.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

 

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings
20% & 33.33% straight line
Plant and equipment
Over 3 and 7 years
Fixtures and fittings
Over 1 and 3 years
Computers
33.33% & 100% straight line
Motor vehicles
33.33% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

DERWENT PACKAGING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments
Basic financial assets

Debtors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Basic financial liabilities

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest method. Loans and borrowings that are receivable within one year are not discounted. If an arrangement constitutes a finance transaction it is measured at present value of future payments discounted at a market rate of interest for a similar loan.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

DERWENT PACKAGING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 5 -
1.11
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.12
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2024
2024
Number
Number
Total
35
36
DERWENT PACKAGING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 6 -
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 June 2024
120,847
3,422,515
3,543,362
Additions
-
0
17,519
17,519
Disposals
-
0
(61,458)
(61,458)
At 31 December 2024
120,847
3,378,576
3,499,423
Depreciation and impairment
At 1 June 2024
120,847
2,976,020
3,096,867
Depreciation charged in the period
-
0
133,604
133,604
Eliminated in respect of disposals
-
0
(61,458)
(61,458)
At 31 December 2024
120,847
3,048,166
3,169,013
Carrying amount
At 31 December 2024
-
0
330,410
330,410
At 31 May 2024
-
0
446,495
446,495
4
Debtors
2024
2024
Amounts falling due within one year:
£
£
Trade debtors
865,370
521,375
Corporation tax recoverable
119,817
119,817
Other debtors
1,302,846
1,031,911
2,288,033
1,673,103
5
Creditors: amounts falling due within one year
2024
2024
£
£
Bank loans and overdrafts
371,773
156,682
Trade creditors
553,693
313,218
Corporation tax
45,941
75,412
Other taxation and social security
63,936
83,164
Other creditors
562,993
346,130
1,598,336
974,606
DERWENT PACKAGING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 7 -
6
Creditors: amounts falling due after more than one year
2024
2024
£
£
Bank loans and overdrafts
433,046
526,994
Other creditors
87,516
126,278
520,562
653,272
7
Finance lease obligations
2024
2024
Future minimum lease payments due under finance leases:
£
£
Within one year
27,613
46,746
In two to five years
87,516
126,278
115,129
173,024
8
Directors' transactions

The loans provided are repayable on demand.

Description
% Rate
Opening balance
Interest charged
Amounts repaid
Closing balance
£
£
£
£
Directors loan
2.25
355,013
2,658
(357,671)
-
355,013
2,658
(357,671)
-
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