REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period |
1 January 2023 to 30 June 2024 |
for |
Craigton Packaging Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period |
1 January 2023 to 30 June 2024 |
for |
Craigton Packaging Limited |
Craigton Packaging Limited (Registered number: SC191127) |
Contents of the Financial Statements |
for the Period 1 January 2023 to 30 June 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Craigton Packaging Limited |
Company Information |
for the Period 1 January 2023 to 30 June 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
100 Brand Street |
Glasgow |
G51 1DG |
Craigton Packaging Limited (Registered number: SC191127) |
Balance Sheet |
30 June 2024 |
30.6.24 | 31.12.22 |
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)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
Craigton Packaging Limited (Registered number: SC191127) |
Balance Sheet - continued |
30 June 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
Craigton Packaging Limited (Registered number: SC191127) |
Notes to the Financial Statements |
for the Period 1 January 2023 to 30 June 2024 |
1. | STATUTORY INFORMATION |
Craigton Packaging Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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 |
Plant and machinery etc | - |
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. |
Craigton Packaging Limited (Registered number: SC191127) |
Notes to the Financial Statements - continued |
for the Period 1 January 2023 to 30 June 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. |
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. |
Going concern |
As at the date of approval of the financial statements, the directors have a reasonable expectation that the company has adequate financial resources to continue operating for the foreseeable future and that the adoption of the going concern basis of accounting is appropriate. |
Government grants |
Revenue grants are credited to income in the appropriate period to match the relevant expenditure. Capital grants are amortised in line with the depreciation of the relevant assets. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
At 1 January 2023 |
and 30 June 2024 |
AMORTISATION |
At 1 January 2023 |
Charge for period |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 31 December 2022 |
Craigton Packaging Limited (Registered number: SC191127) |
Notes to the Financial Statements - continued |
for the Period 1 January 2023 to 30 June 2024 |
5. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | Plant and | and | Computer |
property | machinery | fittings | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 January 2023 |
Additions |
At 30 June 2024 |
DEPRECIATION |
At 1 January 2023 |
Charge for period |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 31 December 2022 |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Improvements |
to | Plant and |
property | machinery | Totals |
£ | £ | £ |
COST |
Additions |
At 30 June 2024 |
DEPRECIATION |
Charge for period |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
Craigton Packaging Limited (Registered number: SC191127) |
Notes to the Financial Statements - continued |
for the Period 1 January 2023 to 30 June 2024 |
6. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
At 1 January 2023 |
and 30 June 2024 |
PROVISIONS |
At 1 January 2023 |
and 30 June 2024 | 299,000 |
NET BOOK VALUE |
At 30 June 2024 |
At 31 December 2022 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.24 | 31.12.22 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
Directors' current accounts | 648 | - |
Prepayments and accrued income |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.24 | 31.12.22 |
£ | £ |
Hire purchase contracts |
Trade creditors |
Social security and other taxes |
VAT | 28,655 | 3,296 |
Other creditors |
Due to subsidiary company | 1,000 | 1,000 |
Accrued expenses |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.6.24 | 31.12.22 |
£ | £ |
Hire purchase contracts |
Other creditors |
Craigton Packaging Limited (Registered number: SC191127) |
Notes to the Financial Statements - continued |
for the Period 1 January 2023 to 30 June 2024 |
10. | CONTINGENT LIABILITIES |
The company is the principal in an arrangement whereby its bankers have given a guarantee to HM Customs & Excise amounting to £20,000, as security for duty on bonded goods in transit. |
11. | OTHER FINANCIAL COMMITMENTS |
The company has total commitments at the balance sheet date of £1,304,584 (2022: £871,115). |
12. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the period ended 30 June 2024 and the year ended 31 December 2022: |
30.6.24 | 31.12.22 |
£ | £ |
Balance outstanding at start of period |
Amounts advanced |
Amounts repaid |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of period |
13. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is |
14. | GOVERNMENT GRANTS |
The amounts recognised in the financial statements for government grants are as follows: |
£ |
Amounts received | 110,000 |
Credited to profit and loss | 17,500 |
Balance of deferred income as at 30 June 2024 | 92,500 |