REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 July 2023 to 31 December 2024 |
for |
Propack Direct Mail Limited |
REGISTERED NUMBER: |
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: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
Tangible assets | 5 |
Investments | 6 |
CURRENT ASSETS |
Stocks |
Debtors | 7 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 11 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 12 |
Share premium | 13 |
Retained earnings | 13 |
SHAREHOLDERS' FUNDS |
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 were approved by the director and authorised for issue on |
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 |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Plant and machinery | - |
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 |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 July 2023 |
and 31 December 2024 |
AMORTISATION |
At 1 July 2023 |
Charge for period |
At 31 December 2024 |
NET BOOK VALUE |
At 31 December 2024 |
At 30 June 2023 |
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 |
Additions |
At 31 December 2024 |
DEPRECIATION |
At 1 July 2023 |
Charge for period |
At 31 December 2024 |
NET BOOK VALUE |
At 31 December 2024 |
At 30 June 2023 |
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 |
DEPRECIATION |
At 1 July 2023 |
and 31 December 2024 |
NET BOOK VALUE |
At 31 December 2024 |
At 30 June 2023 |
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 |
Impairments | ( |
) |
At 31 December 2024 |
NET BOOK VALUE |
At 31 December 2024 |
At 30 June 2023 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.24 | 30.6.23 |
£ | £ |
Trade debtors |
Sundry debtors and prepayments |
Corporation tax recoverable | - | 45,275 |
VAT | - | 1,321 |
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 |
Hire purchase contracts |
Trade creditors |
Amounts owed to group undertakings |
Corporation tax |
Social security and other taxes |
Sundry creditors and accruals |
Invoice discounting loan | 932,633 | 513,766 |
Directors' current accounts | 13,298 | 1,298 |
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 |
Hire purchase contracts |
Accruals and deferred income |
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 |
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 |
Provided during period | ( |
) |
Balance at 31 December 2024 |
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: | £ | £ |
Ordinary | £1 | 198,019 | 100,000 |
A Ordinary | £1 | 1 | 1 |
B Ordinary | £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 |
Profit for the period |
Dividends | ( |
) | ( |
) |
Cash share issue | - | 11,981 | 11,981 |
At 31 December 2024 | 222,093 |
14. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is |
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. |
3 Park Square |
Leeds |
LS1 2NE |