IRIS Accounts Production v24.3.2.46 02688073 director 1.7.23 30.6.24 30.6.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh026880732023-06-30026880732024-06-30026880732023-07-012024-06-30026880732022-06-30026880732022-07-012023-06-30026880732023-06-3002688073ns15:EnglandWales2023-07-012024-06-3002688073ns14:PoundSterling2023-07-012024-06-3002688073ns10:Director12023-07-012024-06-3002688073ns10:PrivateLimitedCompanyLtd2023-07-012024-06-3002688073ns10:SmallEntities2023-07-012024-06-3002688073ns10:AuditExempt-NoAccountantsReport2023-07-012024-06-3002688073ns10:SmallCompaniesRegimeForDirectorsReport2023-07-012024-06-3002688073ns10:SmallCompaniesRegimeForAccounts2023-07-012024-06-3002688073ns10:FullAccounts2023-07-012024-06-3002688073ns10:RegisteredOffice2023-07-012024-06-3002688073ns5:CurrentFinancialInstruments2024-06-3002688073ns5:CurrentFinancialInstruments2023-06-3002688073ns5:Non-currentFinancialInstruments2024-06-3002688073ns5:Non-currentFinancialInstruments2023-06-3002688073ns5:ShareCapital2024-06-3002688073ns5:ShareCapital2023-06-3002688073ns5:RetainedEarningsAccumulatedLosses2024-06-3002688073ns5:RetainedEarningsAccumulatedLosses2023-06-3002688073ns5:PlantMachinery2023-07-012024-06-3002688073ns5:FurnitureFittings2023-07-012024-06-3002688073ns5:ComputerEquipment2023-07-012024-06-3002688073ns5:LeaseholdImprovements2023-06-3002688073ns5:PlantMachinery2023-06-3002688073ns5:FurnitureFittings2023-06-3002688073ns5:ComputerEquipment2023-06-3002688073ns5:LeaseholdImprovements2023-07-012024-06-3002688073ns5:LeaseholdImprovements2024-06-3002688073ns5:PlantMachinery2024-06-3002688073ns5:FurnitureFittings2024-06-3002688073ns5:ComputerEquipment2024-06-3002688073ns5:LeaseholdImprovements2023-06-3002688073ns5:PlantMachinery2023-06-3002688073ns5:FurnitureFittings2023-06-3002688073ns5:ComputerEquipment2023-06-3002688073ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-06-3002688073ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-07-012024-06-3002688073ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2024-06-3002688073ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-06-3002688073ns5:WithinOneYearns5:CurrentFinancialInstruments2024-06-3002688073ns5:WithinOneYearns5:CurrentFinancialInstruments2023-06-3002688073ns5:CurrentFinancialInstruments2023-07-012024-06-3002688073ns5:WithinOneYearns5:HirePurchaseContracts2024-06-3002688073ns5:WithinOneYearns5:HirePurchaseContracts2023-06-3002688073ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2024-06-3002688073ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2023-06-3002688073ns5:HirePurchaseContracts2024-06-3002688073ns5:HirePurchaseContracts2023-06-3002688073ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2024-06-3002688073ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2023-06-3002688073ns5:WithinOneYear2024-06-3002688073ns5:WithinOneYear2023-06-3002688073ns5:BetweenOneFiveYears2024-06-3002688073ns5:BetweenOneFiveYears2023-06-3002688073ns5:MoreThanFiveYears2024-06-3002688073ns5:MoreThanFiveYears2023-06-3002688073ns5:AllPeriods2024-06-3002688073ns5:AllPeriods2023-06-30
REGISTERED NUMBER: 02688073 (England and Wales)











Unaudited Financial Statements

for the Year Ended 30 June 2024

for

PEAK PACKAGING LIMITED

PEAK PACKAGING LIMITED (REGISTERED NUMBER: 02688073)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PEAK PACKAGING LIMITED

Company Information
for the Year Ended 30 June 2024







DIRECTOR: R W Wheatley





REGISTERED OFFICE: Gilmer House
Manners Avenue
Ilkeston
Derbyshire
DE7 8EF





REGISTERED NUMBER: 02688073 (England and Wales)





ACCOUNTANTS: Maths Partnership
1 Brook Court
Blakeney Road
Beckenham
Kent
BR3 1HG

PEAK PACKAGING LIMITED (REGISTERED NUMBER: 02688073)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,018,897 422,611

CURRENT ASSETS
Stocks 5 461,248 354,113
Debtors 6 1,648,845 1,445,755
Cash at bank and in hand 1,845 75
2,111,938 1,799,943
CREDITORS
Amounts falling due within one year 7 1,636,047 1,104,365
NET CURRENT ASSETS 475,891 695,578
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,494,788

1,118,189

CREDITORS
Amounts falling due after more than one
year

8

(777,167

)

(347,061

)

PROVISIONS FOR LIABILITIES (182,816 ) (74,294 )
NET ASSETS 534,805 696,834

CAPITAL AND RESERVES
Called up share capital 442,700 442,700
Retained earnings 92,105 254,134
SHAREHOLDERS' FUNDS 534,805 696,834

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

PEAK PACKAGING LIMITED (REGISTERED NUMBER: 02688073)

Balance Sheet - continued
30 June 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 March 2025 and were signed by:





R W Wheatley - Director


PEAK PACKAGING LIMITED (REGISTERED NUMBER: 02688073)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Peak 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.

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.

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 reducing balance
Fixtures and fittings - 20% on reducing balance
Computer equipment - 33% 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 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.

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.

PEAK PACKAGING LIMITED (REGISTERED NUMBER: 02688073)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

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 35 (2023 - 36 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 July 2023 53,877 782,529 84,682 58,160 979,248
Additions - 845,145 - 602 845,747
Disposals - (26,779 ) (50,258 ) (28,695 ) (105,732 )
At 30 June 2024 53,877 1,600,895 34,424 30,067 1,719,263
DEPRECIATION
At 1 July 2023 - 437,333 79,394 39,910 556,637
Charge for year - 236,769 2,176 4,028 242,973
Eliminated on disposal - (20,291 ) (50,258 ) (28,695 ) (99,244 )
At 30 June 2024 - 653,811 31,312 15,243 700,366
NET BOOK VALUE
At 30 June 2024 53,877 947,084 3,112 14,824 1,018,897
At 30 June 2023 53,877 345,196 5,288 18,250 422,611

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 July 2023 256,775
Additions 712,898
Transfer to ownership (28,500 )
At 30 June 2024 941,173
DEPRECIATION
At 1 July 2023 115,330
Charge for year 168,533
Transfer to ownership (16,826 )
At 30 June 2024 267,037
NET BOOK VALUE
At 30 June 2024 674,136
At 30 June 2023 141,445

PEAK PACKAGING LIMITED (REGISTERED NUMBER: 02688073)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

5. STOCKS
30.6.24 30.6.23
£    £   
Finished goods 461,248 354,113

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 835,350 685,497
Amounts owed by group undertakings 646,859 584,857
Other debtors 166,636 175,401
1,648,845 1,445,755

All debtors are payable within one year and therefore have not been discounted.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 139,868 194,228
Hire purchase contracts (see note 9) 176,498 47,930
Trade creditors 1,047,118 449,094
Taxation and social security 114,691 131,593
Other creditors 157,872 281,520
1,636,047 1,104,365

All creditors are payable within one year and therefore have not been discounted.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Bank loans 170,833 270,833
Hire purchase contracts (see note 9) 606,334 76,228
777,167 347,061

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 20,833

PEAK PACKAGING LIMITED (REGISTERED NUMBER: 02688073)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
30.6.24 30.6.23
£    £   
Gross obligations repayable:
Within one year 214,984 53,664
Between one and five years 744,433 87,416
959,417 141,080

Finance charges repayable:
Within one year 38,486 5,734
Between one and five years 138,099 11,188
176,585 16,922

Net obligations repayable:
Within one year 176,498 47,930
Between one and five years 606,334 76,228
782,832 124,158

Non-cancellable operating leases
30.6.24 30.6.23
£    £   
Within one year 72,901 5,063
Between one and five years 367,921 10,712
In more than five years 237,431 -
678,253 15,775

10. SECURED DEBTS

HSBC Invoice Finance Limited hold security over the trade debtors in note 9 amounting to £922,324 (£685,497 - 2023) for the invoices discounted. £106,599 (£241,001 - 2023) was due to HSBC Invoice Finance Limited at the year end.