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REGISTERED NUMBER: 01360065 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 August 2024

for

H.S.G. (Packing Cases) Limited

H.S.G. (Packing Cases) Limited (Registered number: 01360065)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4

Chartered Accountants' Report 10

H.S.G. (Packing Cases) Limited

Company Information
for the Year Ended 31 August 2024







DIRECTORS: H S Ginesi
H L Ginesi
B N Ginesi
S A Ginesi





SECRETARY: H L Ginesi





REGISTERED OFFICE: Long Row
New Works Road
Low Moor
Bradford
West Yorkshire
BD12 0RT





REGISTERED NUMBER: 01360065 (England and Wales)





ACCOUNTANTS: Stirk Lambert & Co
Chartered Accountants
Russell Chambers
61a North Street
Keighley
West Yorkshire
BD21 3DS

H.S.G. (Packing Cases) Limited (Registered number: 01360065)

Statement of Financial Position
31 August 2024

31.8.24 31.8.23
Notes £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 4,679,400 4,622,674
Investments 7 100 100
4,679,500 4,622,774

CURRENT ASSETS
Stocks 396,768 380,504
Debtors 8 678,104 1,010,074
Cash at bank and in hand 317 400
1,075,189 1,390,978
CREDITORS
Amounts falling due within one year 9 (1,270,819 ) (1,079,787 )
NET CURRENT (LIABILITIES)/ASSETS (195,630 ) 311,191
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,483,870

4,933,965

CREDITORS
Amounts falling due after more than one
year

10

(697,039

)

(849,221

)

PROVISIONS FOR LIABILITIES (378,786 ) (411,721 )
NET ASSETS 3,408,045 3,673,023

CAPITAL AND RESERVES
Called up share capital 250,000 250,000
Revaluation reserve 707,963 721,187
Retained earnings 2,450,082 2,701,836
SHAREHOLDERS' FUNDS 3,408,045 3,673,023

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

H.S.G. (Packing Cases) Limited (Registered number: 01360065)

Statement of Financial Position - continued
31 August 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 28 March 2025 and were signed on its behalf by:




H S Ginesi - Director



B N Ginesi - Director


H.S.G. (Packing Cases) Limited (Registered number: 01360065)

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

1. STATUTORY INFORMATION

H.S.G. (Packing Cases) 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Preparation of consolidated financial statements
The financial statements contain information about H.S.G. (Packing Cases) Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover represents the amounts received or receivable for goods and services provided to customers, excluding VAT.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty 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.
Freehold property - 2% on cost
Plant and machinery - 12.5% on reducing balance
Motor vehicles - 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.

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.


H.S.G. (Packing Cases) Limited (Registered number: 01360065)

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

3. ACCOUNTING POLICIES - continued
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.

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.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 31 (2023 - 33 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2023
and 31 August 2024 228,505
AMORTISATION
At 1 September 2023
and 31 August 2024 228,505
NET BOOK VALUE
At 31 August 2024 -
At 31 August 2023 -

H.S.G. (Packing Cases) Limited (Registered number: 01360065)

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

6. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST OR VALUATION
At 1 September 2023 2,899,602 4,472,918 162,556 7,535,076
Additions 1,350 240,511 - 241,861
At 31 August 2024 2,900,952 4,713,429 162,556 7,776,937
DEPRECIATION
At 1 September 2023 269,602 2,538,173 104,627 2,912,402
Charge for year 56,450 114,062 14,623 185,135
At 31 August 2024 326,052 2,652,235 119,250 3,097,537
NET BOOK VALUE
At 31 August 2024 2,574,900 2,061,194 43,306 4,679,400
At 31 August 2023 2,630,000 1,934,745 57,929 4,622,674

Cost or valuation at 31 August 2024 is represented by:

Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
Valuation in 2021 659,950 - - 659,950
Valuation in 2023 78,342 - - 78,342
Cost 2,162,660 4,713,429 162,556 7,038,645
2,900,952 4,713,429 162,556 7,776,937

A professional valuation of the freehold property was performed after 31 August 2023 but prior to the approval of the 31 August 2023 accounts. The judgement of the directors was that this valuation represented the fair value of the property as at 31 August 2023.

Fixed assets, included in the above, which are held under hire purchase contracts and finance leases are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST OR VALUATION
At 1 September 2023
and 31 August 2024 468,314 76,995 545,309
DEPRECIATION
At 1 September 2023 128,718 20,475 149,193
Charge for year 42,450 14,130 56,580
At 31 August 2024 171,168 34,605 205,773
NET BOOK VALUE
At 31 August 2024 297,146 42,390 339,536
At 31 August 2023 339,596 56,520 396,116

H.S.G. (Packing Cases) Limited (Registered number: 01360065)

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

7. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 September 2023
and 31 August 2024 100
NET BOOK VALUE
At 31 August 2024 100
At 31 August 2023 100

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 500,147 683,341
Amounts owed by group undertakings 65 65
Other debtors - 2,510
Tax 36,900 104,849
Prepayments and accrued income 140,992 219,309
678,104 1,010,074

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans and overdrafts 368,643 206,381
Hire purchase contracts and finance leases (see note 11)
60,521

79,048
Trade creditors 694,179 693,822
Tax - 227
Social security and other taxes 57,474 70,027
Other creditors 2,158 2,214
Directors' loan accounts 62,738 2,738
Accrued expenses 25,106 25,330
1,270,819 1,079,787

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.24 31.8.23
£    £   
Bank loans 546,240 638,006
Hire purchase contracts and finance leases (see note 11)
150,799

211,215
697,039 849,221

H.S.G. (Packing Cases) Limited (Registered number: 01360065)

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

11. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts Finance leases
31.8.24 31.8.23 31.8.24 31.8.23
£    £    £    £   
Gross obligations repayable:
Within one year 68,835 68,835 3,794 25,287
Between one and five years 175,994 244,829 - 3,944
244,829 313,664 3,794 29,231

Finance charges repayable:
Within one year 11,597 11,597 511 3,477
Between one and five years 25,195 36,792 - 766
36,792 48,389 511 4,243

Net obligations repayable:
Within one year 57,238 57,238 3,283 21,810
Between one and five years 150,799 208,037 - 3,178
208,037 265,275 3,283 24,988

Non-cancellable operating leases
31.8.24 31.8.23
£    £   
Within one year 44,123 52,400
Between one and five years 34,806 78,930
78,929 131,330

12. SECURED DEBTS

The following secured debts are included within creditors:

31.8.24 31.8.23
£    £   
Bank overdrafts 276,643 116,565
Bank loans 638,240 727,822
Hire purchase contracts and finance leases 211,320 290,263
1,126,203 1,134,650

The company's banking facilities are secured on land and buildings at Long Row, Bradford.

H.S.G. (Packing Cases) Limited (Registered number: 01360065)

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

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2024 and 31 August 2023:

31.8.24 31.8.23
£    £   
C M Cutts
Balance outstanding at start of year - 698
Amounts repaid - -
Amounts written off - (698 )
Amounts waived - -
Balance outstanding at end of year - -

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
H.S.G. (Packing Cases) Limited

The following reproduces the text of the report prepared for the directors 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 Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors 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 H.S.G. (Packing Cases) Limited for the year ended 31 August 2024 which comprise the Income Statement, Other Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of H.S.G. (Packing Cases) Limited, 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 H.S.G. (Packing Cases) Limited and state those matters that we have agreed to state to the Board of Directors of H.S.G. (Packing Cases) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than H.S.G. (Packing Cases) Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that H.S.G. (Packing Cases) Limited 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 loss of H.S.G. (Packing Cases) Limited. You consider that H.S.G. (Packing Cases) Limited 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 H.S.G. (Packing Cases) Limited. 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.






Stirk Lambert & Co
Chartered Accountants
Russell Chambers
61a North Street
Keighley
West Yorkshire
BD21 3DS


28 March 2025