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Registration number: 01350571

G.T. Paper & Packaging Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 January 2025

 

G.T. Paper & Packaging Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

G.T. Paper & Packaging Limited

Company Information

Directors

GJ Francis

M Francis

SR Sanders

NA Stevenson

PC Stevenson

S J Reeves

Company secretary

S J Reeves

Registered office

Hedley Terrace
Lingard Street
Burslem
Stoke-On-Trent
Staffordshire
ST6 1ED

 

G.T. Paper & Packaging Limited

(Registration number: 01350571)
Balance Sheet as at 31 January 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

5

371,631

422,242

Current assets

 

Stocks

6

199,541

260,582

Debtors

7

386,819

422,835

Investments

8

97,161

97,667

Cash at bank and in hand

 

714,039

647,222

 

1,397,560

1,428,306

Creditors: Amounts falling due within one year

9

(513,241)

(546,518)

Net current assets

 

884,319

881,788

Total assets less current liabilities

 

1,255,950

1,304,030

Provisions for liabilities

(17,977)

(29,077)

Net assets

 

1,237,973

1,274,953

Capital and reserves

 

Called up share capital

10

2,120

2,120

Revaluation reserve

125,908

125,908

Other reserves

1,060

1,060

Retained earnings

1,108,885

1,145,865

Shareholders' funds

 

1,237,973

1,274,953

For the financial year ending 31 January 2025 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.

Approved and authorised by the Board on 11 March 2025 and signed on its behalf by:
 

.........................................
SR Sanders
Director

 

G.T. Paper & Packaging Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

1

General information

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

The address of its registered office is:
Hedley Terrace
Lingard Street
Burslem
Stoke-On-Trent
Staffordshire
ST6 1ED

These financial statements were authorised for issue by the Board on 11 March 2025.

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

G.T. Paper & Packaging Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold Property

2% on value of buildings

Fixtures and Fittings

10% on cost

Motor Vehicles

25% on cost

Office equipment

20% on cost

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.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

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.

 

G.T. Paper & Packaging Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 17 (2024 - 15).

 

G.T. Paper & Packaging Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

4

Profit before tax

Arrived at after charging/(crediting)

2025
£

2024
£

Depreciation expense

63,512

64,116

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 February 2024

345,280

221,211

188,385

754,876

Additions

-

12,898

-

12,898

At 31 January 2025

345,280

234,109

188,385

767,774

Depreciation

At 1 February 2024

49,768

186,329

96,537

332,634

Charge for the year

4,337

12,076

47,096

63,509

At 31 January 2025

54,105

198,405

143,633

396,143

Carrying amount

At 31 January 2025

291,175

35,704

44,752

371,631

At 31 January 2024

295,512

34,882

91,848

422,242

Included within the net book value of land and buildings above is £291,174 (2024 - £295,512) in respect of freehold land and buildings.
 

6

Stocks

2025
£

2024
£

Other inventories

199,541

260,582

7

Debtors

Current

2025
£

2024
£

Trade debtors

371,542

411,757

Prepayments

15,277

11,078

 

386,819

422,835

 

G.T. Paper & Packaging Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

8

Current asset investments

2025
£

2024
£

Other investments

97,161

97,667

Listed investments

Investments having a net book value of £97,161 (31 January 2024 - £97,667) are listed on a recognised stock exchange and had a market value of £115,919 at the end of the year (31 January 2024 - £106,611).

9

Creditors

Creditors: amounts falling due within one year

2025
£

2024
£

Due within one year

Trade creditors

421,246

450,146

Taxation and social security

87,765

92,519

Accruals and deferred income

4,230

3,853

513,241

546,518

10

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary Shares of £0.50 each

4,240

2,120

4,240

2,120