IRIS Accounts Production v24.3.2.46 04086927 director 1.7.23 31.12.24 31.12.24 false true false false false true false Ordinary 1.00000 A Ordinary 1.00000 B Ordinary 1.00000 C Ordinary 1.00000 D Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh040869272023-06-30040869272024-12-31040869272023-07-012024-12-31040869272022-06-30040869272022-07-012023-06-30040869272023-06-3004086927ns15:EnglandWales2023-07-012024-12-3104086927ns14:PoundSterling2023-07-012024-12-3104086927ns10:Director12023-07-012024-12-3104086927ns10:PrivateLimitedCompanyLtd2023-07-012024-12-3104086927ns10:SmallEntities2023-07-012024-12-3104086927ns10:AuditExemptWithAccountantsReport2023-07-012024-12-3104086927ns10:SmallCompaniesRegimeForDirectorsReport2023-07-012024-12-3104086927ns10:SmallCompaniesRegimeForAccounts2023-07-012024-12-3104086927ns10:FullAccounts2023-07-012024-12-310408692712023-07-012024-12-3104086927ns10:OrdinaryShareClass12023-07-012024-12-3104086927ns10:OrdinaryShareClass22023-07-012024-12-3104086927ns10:OrdinaryShareClass32023-07-012024-12-3104086927ns10:OrdinaryShareClass42023-07-012024-12-3104086927ns10:OrdinaryShareClass52023-07-012024-12-3104086927ns10:CompanySecretary12023-07-012024-12-3104086927ns10:RegisteredOffice2023-07-012024-12-3104086927ns5:CurrentFinancialInstruments2024-12-3104086927ns5:CurrentFinancialInstruments2023-06-3004086927ns5:Non-currentFinancialInstruments2024-12-3104086927ns5:Non-currentFinancialInstruments2023-06-3004086927ns5:ShareCapital2024-12-3104086927ns5:ShareCapital2023-06-3004086927ns5:SharePremium2024-12-3104086927ns5:SharePremium2023-06-3004086927ns5:RetainedEarningsAccumulatedLosses2024-12-3104086927ns5:RetainedEarningsAccumulatedLosses2023-06-3004086927ns5:NetGoodwill2023-07-012024-12-3104086927ns5:PlantMachinery2023-07-012024-12-3104086927ns5:NetGoodwill2023-06-3004086927ns5:NetGoodwill2024-12-3104086927ns5:NetGoodwill2023-06-3004086927ns5:LeaseholdImprovements2023-06-3004086927ns5:PlantMachinery2023-06-3004086927ns5:FurnitureFittings2023-06-3004086927ns5:LeaseholdImprovements2023-07-012024-12-3104086927ns5:FurnitureFittings2023-07-012024-12-3104086927ns5:LeaseholdImprovements2024-12-3104086927ns5:PlantMachinery2024-12-3104086927ns5:FurnitureFittings2024-12-3104086927ns5:LeaseholdImprovements2023-06-3004086927ns5:PlantMachinery2023-06-3004086927ns5:FurnitureFittings2023-06-3004086927ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-06-3004086927ns5:FurnitureFittingsns5:LeasedAssetsHeldAsLessee2023-06-3004086927ns5:LeasedAssetsHeldAsLessee2023-06-3004086927ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2024-12-3104086927ns5:FurnitureFittingsns5:LeasedAssetsHeldAsLessee2024-12-3104086927ns5:LeasedAssetsHeldAsLessee2024-12-3104086927ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-06-3004086927ns5:FurnitureFittingsns5:LeasedAssetsHeldAsLessee2023-06-3004086927ns5:LeasedAssetsHeldAsLessee2023-06-3004086927ns5:CostValuation2023-06-3004086927ns5:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2024-12-3104086927ns5:CostValuation2024-12-3104086927ns5:WithinOneYearns5:CurrentFinancialInstruments2024-12-3104086927ns5:WithinOneYearns5:CurrentFinancialInstruments2023-06-3004086927ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2024-12-3104086927ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-06-3004086927ns5:Secured2024-12-3104086927ns5:Secured2023-06-3004086927ns5:DeferredTaxation2023-06-3004086927ns5:DeferredTaxation2023-07-012024-12-3104086927ns5:DeferredTaxation2024-12-3104086927ns10:OrdinaryShareClass12024-12-3104086927ns10:OrdinaryShareClass22024-12-3104086927ns10:OrdinaryShareClass32024-12-3104086927ns10:OrdinaryShareClass42024-12-3104086927ns5:RetainedEarningsAccumulatedLosses2023-06-3004086927ns5:SharePremium2023-06-3004086927ns5:RetainedEarningsAccumulatedLosses2023-07-012024-12-31
REGISTERED NUMBER: 04086927 (England and Wales)















Unaudited Financial Statements

for the Period 1 July 2023 to 31 December 2024

for

Propack Direct Mail Limited

Propack Direct Mail Limited (Registered number: 04086927)






Contents of the Financial Statements
for the Period 1 July 2023 to 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Accountants' Report 10

Propack Direct Mail Limited

Company Information
for the Period 1 July 2023 to 31 December 2024







DIRECTOR: J Clough





SECRETARY: J Clough





REGISTERED OFFICE: Unit 4-5 Fieldhouse Park
Old Fieldhouse Lane
Huddersfield
West Yorkshire
HD2 1FA





REGISTERED NUMBER: 04086927 (England and Wales)





ACCOUNTANTS: Charles Stewart & Co Limited
3 Park Square
Leeds
LS1 2NE

Propack Direct Mail Limited (Registered number: 04086927)

Balance Sheet
31 December 2024

31.12.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 360,250 400,250
Tangible assets 5 1,230,050 1,457,642
Investments 6 - 100
1,590,300 1,857,992

CURRENT ASSETS
Stocks 161,912 191,743
Debtors 7 1,582,831 1,124,854
Cash at bank and in hand 61,259 20
1,806,002 1,316,617
CREDITORS
Amounts falling due within one year 8 2,371,388 1,949,806
NET CURRENT LIABILITIES (565,386 ) (633,189 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,024,914

1,224,803

CREDITORS
Amounts falling due after more than one
year

9

(325,209

)

(748,616

)

PROVISIONS FOR LIABILITIES 11 (279,590 ) (326,958 )
NET ASSETS 420,115 149,229

CAPITAL AND RESERVES
Called up share capital 12 198,022 108,111
Share premium 13 11,981 -
Retained earnings 13 210,112 41,118
SHAREHOLDERS' FUNDS 420,115 149,229

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 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.

Propack Direct Mail Limited (Registered number: 04086927)

Balance Sheet - continued
31 December 2024


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 17 March 2025 and were signed by:





J Clough - Director


Propack Direct Mail Limited (Registered number: 04086927)

Notes to the Financial Statements
for the Period 1 July 2023 to 31 December 2024

1. STATUTORY INFORMATION

Propack Direct Mail 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.

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 represents net sales of goods and services, excluding value added tax.

Goodwill
Goodwill reflects the amount paid in connection with the acquisition of a business in 2008. The directors have considered the present value of goodwill to date and have provided for amortisation in the year to reflect the diminution in value which they deem reasonable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on cost, 20% on cost and 10% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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 period 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.

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 period 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.

Propack Direct Mail Limited (Registered number: 04086927)

Notes to the Financial Statements - continued
for the Period 1 July 2023 to 31 December 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 52 (2023 - 60 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023
and 31 December 2024 806,500
AMORTISATION
At 1 July 2023 406,250
Charge for period 40,000
At 31 December 2024 446,250
NET BOOK VALUE
At 31 December 2024 360,250
At 30 June 2023 400,250

Propack Direct Mail Limited (Registered number: 04086927)

Notes to the Financial Statements - continued
for the Period 1 July 2023 to 31 December 2024

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings Totals
£    £    £    £   
COST
At 1 July 2023 170,866 2,816,431 132,118 3,119,415
Additions - 92,202 - 92,202
At 31 December 2024 170,866 2,908,633 132,118 3,211,617
DEPRECIATION
At 1 July 2023 128,009 1,442,976 90,788 1,661,773
Charge for period 10,156 298,109 11,529 319,794
At 31 December 2024 138,165 1,741,085 102,317 1,981,567
NET BOOK VALUE
At 31 December 2024 32,701 1,167,548 29,801 1,230,050
At 30 June 2023 42,857 1,373,455 41,330 1,457,642

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 July 2023
and 31 December 2024 1,838,391 16,972 1,855,363
DEPRECIATION
At 1 July 2023
and 31 December 2024 610,073 7,272 617,345
NET BOOK VALUE
At 31 December 2024 1,228,318 9,700 1,238,018
At 30 June 2023 1,228,318 9,700 1,238,018

Propack Direct Mail Limited (Registered number: 04086927)

Notes to the Financial Statements - continued
for the Period 1 July 2023 to 31 December 2024

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 July 2023 100
Impairments (100 )
At 31 December 2024 -
NET BOOK VALUE
At 31 December 2024 -
At 30 June 2023 100

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 30.6.23
£    £   
Trade debtors 1,369,002 953,080
Sundry debtors and prepayments 213,829 125,178
Corporation tax recoverable - 45,275
VAT - 1,321
1,582,831 1,124,854

Included within trade debtors are debts owed to the company upon which advances have been made by invoice discounters and disclosed as part of the creditors: amounts falling due within one year note. At 31 December 2024 the amount advanced was £932,633 (2023: £513,766).

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 30.6.23
£    £   
Bank loan 41,250 82,500
Hire purchase contracts 379,861 363,936
Trade creditors 705,903 785,303
Amounts owed to group undertakings - 137,097
Corporation tax 75,468 -
Social security and other taxes 176,389 5,961
Sundry creditors and accruals 46,586 59,945
Invoice discounting loan 932,633 513,766
Directors' current accounts 13,298 1,298
2,371,388 1,949,806

Propack Direct Mail Limited (Registered number: 04086927)

Notes to the Financial Statements - continued
for the Period 1 July 2023 to 31 December 2024

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.24 30.6.23
£    £   
Bank loan - 82,500
Hire purchase contracts 273,009 666,116
Accruals and deferred income 52,200 -
325,209 748,616

10. SECURED DEBTS

The following secured debts are included within creditors:

31.12.24 30.6.23
£    £   
Hire purchase contracts 652,870 1,030,052
Invoice discounting loan 932,633 513,766
1,585,503 1,543,818

The company's bankers have an unlimited mortgage debenture in place securing all bank lending.

The hire purchase liabilities are secured upon the assets to which they relate.

The bank loan is a loan made under the Coronavirus Business Interruption Loan Scheme. It is unsecured, however it is backed with a limited guarantee from HM government in accordance with the rules of the scheme.

11. PROVISIONS FOR LIABILITIES
31.12.24 30.6.23
£    £   
Deferred tax 279,590 326,958

Deferred
tax
£   
Balance at 1 July 2023 326,958
Provided during period (47,368 )
Balance at 31 December 2024 279,590

Propack Direct Mail Limited (Registered number: 04086927)

Notes to the Financial Statements - continued
for the Period 1 July 2023 to 31 December 2024

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 30.6.23
value: £    £   
198,019 Ordinary £1 198,019 100,000
1 A Ordinary £1 1 1
1 B Ordinary £1 1 1
1 C Ordinary £1 1 1
NIL D Ordinary £1 - 8,108
198,022 108,111

A total of 98,019 Ordinary shares of £1 each were issued for a total of £110,000. This equating to a share premium of £11,981.

At the same time the 8,108 D Ordinary shares were cancelled.

13. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1 July 2023 41,118 - 41,118
Profit for the period 217,194 217,194
Dividends (48,200 ) (48,200 )
Cash share issue - 11,981 11,981
At 31 December 2024 210,112 11,981 222,093

14. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is J Clough.

Accountants' Report to the Director
on the Unaudited Financial Statements of
Propack Direct Mail Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of the company from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of the company, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of the company and state those matters that we have agreed to state to the Board of Directors of the company, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that the company has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of the company. You consider that the company is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of the company. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Charles Stewart & Co Limited
3 Park Square
Leeds
LS1 2NE


17 March 2025