IRIS Accounts Production v24.3.2.46 11633598 director 1.7.23 30.6.24 30.6.24 false true false false false true false Ordinary A 1.00000 Ordinary B 1.00000 Ordinary C 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh116335982023-06-30116335982024-06-30116335982023-07-012024-06-30116335982022-06-30116335982022-07-012023-06-30116335982023-06-3011633598ns15:EnglandWales2023-07-012024-06-3011633598ns14:PoundSterling2023-07-012024-06-3011633598ns10:Director12023-07-012024-06-3011633598ns10:PrivateLimitedCompanyLtd2023-07-012024-06-3011633598ns10:SmallEntities2023-07-012024-06-3011633598ns10:AuditExempt-NoAccountantsReport2023-07-012024-06-3011633598ns10:SmallCompaniesRegimeForDirectorsReport2023-07-012024-06-3011633598ns10:SmallCompaniesRegimeForAccounts2023-07-012024-06-3011633598ns10:FullAccounts2023-07-012024-06-301163359812023-07-012024-06-3011633598ns10:OrdinaryShareClass12023-07-012024-06-3011633598ns10:OrdinaryShareClass22023-07-012024-06-3011633598ns10:OrdinaryShareClass32023-07-012024-06-3011633598ns10:RegisteredOffice2023-07-012024-06-3011633598ns5:CurrentFinancialInstruments2024-06-3011633598ns5:CurrentFinancialInstruments2023-06-3011633598ns5:ShareCapital2024-06-3011633598ns5:ShareCapital2023-06-3011633598ns5:RetainedEarningsAccumulatedLosses2024-06-3011633598ns5:RetainedEarningsAccumulatedLosses2023-06-3011633598ns5:IntangibleAssetsOtherThanGoodwill2023-07-012024-06-3011633598ns5:PlantMachinery2023-07-012024-06-3011633598ns5:IntangibleAssetsOtherThanGoodwill2023-06-3011633598ns5:IntangibleAssetsOtherThanGoodwill2024-06-3011633598ns5:IntangibleAssetsOtherThanGoodwill2023-06-3011633598ns5:PlantMachinery2023-06-3011633598ns5:PlantMachinery2024-06-3011633598ns5:PlantMachinery2023-06-3011633598ns5:WithinOneYearns5:CurrentFinancialInstruments2024-06-3011633598ns5:WithinOneYearns5:CurrentFinancialInstruments2023-06-3011633598ns10:OrdinaryShareClass12024-06-3011633598ns10:OrdinaryShareClass22024-06-3011633598ns10:OrdinaryShareClass32024-06-30
REGISTERED NUMBER: 11633598 (England and Wales)















SPECTRUM PACKAGING SOLUTIONS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024






SPECTRUM PACKAGING SOLUTIONS LTD (REGISTERED NUMBER: 11633598)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


SPECTRUM PACKAGING SOLUTIONS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTOR: R Smith





REGISTERED OFFICE: Unit 3 Fulwood Road North
Sutton-In-Ashfield
Nottinghamshire
NG17 2NB





REGISTERED NUMBER: 11633598 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
4 Henley Way
Doddington Road
Lincoln
Lincolnshire
LN6 3QR

SPECTRUM PACKAGING SOLUTIONS LTD (REGISTERED NUMBER: 11633598)

STATEMENT OF FINANCIAL POSITION
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 3,600 4,050
Tangible assets 5 92,032 57,413
95,632 61,463

CURRENT ASSETS
Stocks 307,242 118,531
Debtors 6 350,077 925,444
Cash at bank 3,704,123 3,399,876
4,361,442 4,443,851
CREDITORS
Amounts falling due within one year 7 299,794 544,065
NET CURRENT ASSETS 4,061,648 3,899,786
TOTAL ASSETS LESS CURRENT LIABILITIES 4,157,280 3,961,249

PROVISIONS FOR LIABILITIES 7,990 9,328
NET ASSETS 4,149,290 3,951,921

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 4,149,190 3,951,821
SHAREHOLDERS' FUNDS 4,149,290 3,951,921

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 director and authorised for issue on 12 February 2025 and were signed by:





R Smith - Director


SPECTRUM PACKAGING SOLUTIONS LTD (REGISTERED NUMBER: 11633598)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

Spectrum Packaging Solutions Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Sale of goods

Turnover from the sale of packaging is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be reliably measured, it is probably that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of goods.

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.

Computer software is being amortised evenly over its estimated useful life of 10 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 20% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

SPECTRUM PACKAGING SOLUTIONS LTD (REGISTERED NUMBER: 11633598)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position 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 the income statement in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 July 2023
and 30 June 2024 4,500
AMORTISATION
At 1 July 2023 450
Charge for year 450
At 30 June 2024 900
NET BOOK VALUE
At 30 June 2024 3,600
At 30 June 2023 4,050

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2023 79,515
Additions 57,795
At 30 June 2024 137,310
DEPRECIATION
At 1 July 2023 22,102
Charge for year 23,176
At 30 June 2024 45,278
NET BOOK VALUE
At 30 June 2024 92,032
At 30 June 2023 57,413

SPECTRUM PACKAGING SOLUTIONS LTD (REGISTERED NUMBER: 11633598)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 209,822 820,282
Amounts owed by group undertakings - 3,266
Other debtors 140,255 101,896
350,077 925,444

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 1,501 12,067
Trade creditors 144,495 460,555
Taxation and social security 124,877 57,258
Other creditors 28,921 14,185
299,794 544,065

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
34 Ordinary A £1 34 34
33 Ordinary B £1 33 33
33 Ordinary C £1 33 33
100 100