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REGISTERED NUMBER: 02117982 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

Flexopack Limited

Flexopack Limited (Registered number: 02117982)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Flexopack Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: A R Lewis
A Burnett





SECRETARY: Mrs J P Lewis





REGISTERED OFFICE: Victoria Business Park
Mallard Road
Nottingham
Nottinghamshire
NG4 2PE





REGISTERED NUMBER: 02117982 (England and Wales)





ACCOUNTANTS: Brockhurst Davies Limited
11 The Office Village
North Road
Loughborough
Leicestershire
LE11 1QJ

Flexopack Limited (Registered number: 02117982)

Balance Sheet
31 May 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,373,992 1,441,581
1,373,992 1,441,581

CURRENT ASSETS
Stocks 287,173 359,520
Debtors 6 639,640 1,056,110
Cash at bank and in hand 29,714 416
956,527 1,416,046
CREDITORS
Amounts falling due within one year 7 710,072 764,020
NET CURRENT ASSETS 246,455 652,026
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,620,447

2,093,607

CREDITORS
Amounts falling due after more than one year 8 (721,227 ) (808,046 )

PROVISIONS FOR LIABILITIES (53,207 ) (63,366 )
NET ASSETS 846,013 1,222,195

CAPITAL AND RESERVES
Called up share capital 900 900
Capital redemption reserve 100 100
Retained earnings 845,013 1,221,195
SHAREHOLDERS' FUNDS 846,013 1,222,195

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Flexopack Limited (Registered number: 02117982)

Balance Sheet - continued
31 May 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 Board of Directors and authorised for issue on 24 March 2025 and were signed on its behalf by:





A R Lewis - Director


Flexopack Limited (Registered number: 02117982)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Flexopack 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 the provision of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

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 balance sheet date.

A change to the main UK corporation tax rate, announced in the Budget on 11 March 2020, was substantively enacted for IFRS purposes on 17 March 2020. The rate applicable from 1 April 2020 now remains at 19 per cent, rather than the previously enacted reduction to 17 per cent. A further change to the main UK corporation tax corporation tax rate was announced in the budget on 3 March 2021. The rate applicable from 1 April 2023 will increase to 25%. Deferred tax has not been adjusted to reflect this as the change has not been substantively enacted.


Flexopack Limited (Registered number: 02117982)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued
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 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.

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.

Current asset investments
These investments are initially measured at cost. After initial recognition the investments will be measured at cost less any accumulated impairment losses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 37 (2023 - 39 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£
COST
At 1 June 2023
and 31 May 2024 15,000
AMORTISATION
At 1 June 2023
and 31 May 2024 15,000
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 -

Flexopack Limited (Registered number: 02117982)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£ £ £
COST
At 1 June 2023 1,181,464 1,283,305 139,528
Additions - 1,700 -
Disposals - - -
At 31 May 2024 1,181,464 1,285,005 139,528
DEPRECIATION
At 1 June 2023 17,722 1,026,579 130,583
Charge for year 23,629 38,507 1,342
Eliminated on disposal - - -
At 31 May 2024 41,351 1,065,086 131,925
NET BOOK VALUE
At 31 May 2024 1,140,113 219,919 7,603
At 31 May 2023 1,163,742 256,726 8,945

Motor Computer
vehicles equipment Totals
£ £ £
COST
At 1 June 2023 56,750 20,846 2,681,893
Additions - 842 2,542
Disposals (39,500 ) - (39,500 )
At 31 May 2024 17,250 21,688 2,644,935
DEPRECIATION
At 1 June 2023 49,334 16,094 1,240,312
Charge for year 720 1,397 65,595
Eliminated on disposal (34,964 ) - (34,964 )
At 31 May 2024 15,090 17,491 1,270,943
NET BOOK VALUE
At 31 May 2024 2,160 4,197 1,373,992
At 31 May 2023 7,416 4,752 1,441,581

Flexopack Limited (Registered number: 02117982)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 601,582 657,541
Amounts owed by group undertakings - 224,620
Other debtors 38,058 173,949
639,640 1,056,110

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts 75,000 82,604
Hire purchase contracts 7,153 7,153
Trade creditors 490,042 530,463
Taxation and social security 74,713 119,860
Other creditors 63,164 23,940
710,072 764,020

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£ £
Bank loans 704,537 784,203
Hire purchase contracts 16,690 23,843
721,227 808,046

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 496,167 525,822

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£ £
Bank loans 779,537 859,203
Hire purchase contracts 23,843 30,996
803,380 890,199

10. RELATED PARTY DISCLOSURES

Sales and purchases are made between the company, Lynx Polythene Limited and Coverpax Limited for amounts less than retail value.