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REGISTERED NUMBER: 01294184 (England and Wales)












AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH JUNE 2024

FOR

NICHOLAS PACKAGING LIMITED

NICHOLAS PACKAGING LIMITED (REGISTERED NUMBER: 01294184)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


NICHOLAS PACKAGING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH JUNE 2024







DIRECTORS: L G Nicholas
C M Russell


SECRETARY: L G Nicholas


REGISTERED OFFICE: c/o Nicholas Packaging Limited
Ham Lane
Kingswinford
West Midlands
DY6 7JJ


REGISTERED NUMBER: 01294184 (England and Wales)


SENIOR STATUTORY AUDITOR: Stephen B. Ludlam


AUDITORS: French Ludlam & Co Limited
Statutory Auditors and Accountants
Mountfield House
661 High Street
Kingswinford
West Midlands
DY6 8AL


BANKERS: Barclays Bank plc
1 Churchill Place
Canary Wharf
London
E14 5HP

NICHOLAS PACKAGING LIMITED (REGISTERED NUMBER: 01294184)

STATEMENT OF FINANCIAL POSITION
30TH JUNE 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 - 10,000
Tangible assets 5 251,189 372,602
251,189 382,602

CURRENT ASSETS
Stocks 1,042,018 990,824
Debtors 6 1,645,013 1,871,162
Cash at bank and in hand 1,601,387 1,411,819
4,288,418 4,273,805
CREDITORS
Amounts falling due within one year 7 (2,077,627 ) (2,156,762 )
NET CURRENT ASSETS 2,210,791 2,117,043
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,461,980

2,499,645

CREDITORS
Amounts falling due after more than one
year

8

(52,920

)

(91,267

)

PROVISIONS FOR LIABILITIES (59,299 ) (89,429 )
NET ASSETS 2,349,761 2,318,949

CAPITAL AND RESERVES
Called up share capital 23,225 23,225
Share premium 3,800 3,800
Capital redemption reserve 1,975 1,975
Retained earnings 2,320,761 2,289,949
SHAREHOLDERS' FUNDS 2,349,761 2,318,949

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25th March 2025 and were signed on its behalf by:




L G Nicholas - Director


NICHOLAS PACKAGING LIMITED (REGISTERED NUMBER: 01294184)

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

1. STATUTORY INFORMATION

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of five years.

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.

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 - 20% on cost
Motor vehicles - 25% on 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 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.

NICHOLAS PACKAGING LIMITED (REGISTERED NUMBER: 01294184)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH 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.

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.

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 year was 18 (2023 - 19 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st July 2023
and 30th June 2024 50,000
AMORTISATION
At 1st July 2023 40,000
Charge for year 10,000
At 30th June 2024 50,000
NET BOOK VALUE
At 30th June 2024 -
At 30th June 2023 10,000

NICHOLAS PACKAGING LIMITED (REGISTERED NUMBER: 01294184)

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

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st July 2023 1,532,323
Additions 94,365
Disposals (7,815 )
At 30th June 2024 1,618,873
DEPRECIATION
At 1st July 2023 1,159,721
Charge for year 215,778
Eliminated on disposal (7,815 )
At 30th June 2024 1,367,684
NET BOOK VALUE
At 30th June 2024 251,189
At 30th June 2023 372,602

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1st July 2023 332,028
Transfer to ownership (109,990 )
At 30th June 2024 222,038
DEPRECIATION
At 1st July 2023 190,955
Charge for year 49,127
Transfer to ownership (141,828 )
At 30th June 2024 98,254
NET BOOK VALUE
At 30th June 2024 123,784
At 30th June 2023 141,073

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,569,436 1,799,225
Other debtors 75,577 71,937
1,645,013 1,871,162

NICHOLAS PACKAGING LIMITED (REGISTERED NUMBER: 01294184)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9) 38,346 55,688
Trade creditors 1,206,596 1,157,779
Taxation and social security 237,069 229,771
Other creditors 595,616 713,524
2,077,627 2,156,762

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9) 52,920 91,267

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 38,346 55,688
Between one and five years 52,920 91,267
91,266 146,955

Non-cancellable operating leases
2024 2023
£    £   
Within one year 15,268 18,144
Between one and five years 2,379 17,647
17,647 35,791

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 91,266 146,955

Hire purchase liabilities are secured against the assets to which they relate.

NICHOLAS PACKAGING LIMITED (REGISTERED NUMBER: 01294184)

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

11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Stephen B. Ludlam (Senior Statutory Auditor)
for and on behalf of French Ludlam & Co Limited

12. ULTIMATE CONTROLLING PARTY

The controlling party is Llamedos Holdings Limited.

Llamedos Holdings Limited is a UK registered company (Company number 11710087) , and their registered office is Ham Lane, Kingswinford, West Midlands, DY6 7JJ.