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Registration number: 12230203

B Smith Packaging Group (Worcester) Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2024

 

B Smith Packaging Group (Worcester) Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

Registration of a Charge

6

 

B Smith Packaging Group (Worcester) Ltd

Company Information

Directors

A R Smith

A Careme

R Clarke

Registered office

Stanier Road
Shire Business Park
Warndon
Worcester
WR4 9FE

Accountants

Ballards LLP
Chartered Accountants
Oakmoore Court
11C Kingswood Road
Hampton Lovett
Droitwich
Worcestershire
WR9 0QH

 

B Smith Packaging Group (Worcester) Ltd

(Registration number: 12230203)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Investments

4

4,522,500

4,522,500

Current assets

 

Debtors

5

147

147

Creditors: Amounts falling due within one year

6

(330,000)

(330,000)

Net current liabilities

 

(329,853)

(329,853)

Total assets less current liabilities

 

4,192,647

4,192,647

Creditors: Amounts falling due after more than one year

6

(1,320,000)

(1,650,000)

Net assets

 

2,872,647

2,542,647

Capital and reserves

 

Called up share capital

9

147

147

Retained earnings

2,872,500

2,542,500

Shareholders' funds

 

2,872,647

2,542,647

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 5 March 2025 and signed on its behalf by:
 

.........................................
A R Smith
Director

   
 

B Smith Packaging Group (Worcester) Ltd

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Stanier Road
Shire Business Park
Warndon
Worcester
WR4 9FE

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

 

B Smith Packaging Group (Worcester) Ltd

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

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

4

Investments

2024
£

2023
£

Investments in subsidiaries

4,522,500

4,522,500

 

B Smith Packaging Group (Worcester) Ltd

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

Subsidiaries

£

Cost or valuation

At 1 October 2023

4,522,500

Provision

Carrying amount

At 30 September 2024

4,522,500

At 30 September 2023

4,522,500

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2024

2023

Subsidiary undertakings

B Smith Packaging Holdings (Worcester) Limited

Stanier Road, Shires Business Park, Warndon, Worcester, United Kingdon, WR4 9FE

England

Ordinary

100%

100%

B Smith Packaging (Worcester) Limited

Stanier Road, Shires Business Park, Warndon, Worcester, WR4 9FE

England

Ordinary

100%

100%

Subsidiary undertakings

B Smith Packaging Holdings (Worcester) Limited

The principal activity of B Smith Packaging Holdings (Worcester) Limited is that of a holding company.

B Smith Packaging (Worcester) Limited

The principal activity of B Smith Packaging (Worcester) Limited is that of supplying packaging materials.

The company is the ultimate parent of B Smith Packaging (Worcester) Limited. The aggregate amount of capital and reserves of B Smith Packaging (Worcester) Limited at the end of the period was £3,606,021 (2023: £3,427,565).

 

B Smith Packaging Group (Worcester) Ltd

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

5

Debtors

Current

2024
£

2023
£

Other debtors

147

147

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Amounts owed to related parties

330,000

330,000

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

1,320,000

1,650,000

Registration of a Charge

Andrew Robert Smith holds a fixed and floating charge over the property and undertakings of the company in respect of the monies owed to him.

8

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Other borrowings- Amounts owed to related parties

1,320,000

1,650,000

 

B Smith Packaging Group (Worcester) Ltd

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

9

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

A Ordinary shares of £1 each

79

79

79

79

B Ordinary shares of £1 each

68

68

68

68

 

147

147

147

147