Registered number
07776011
Frontline Packaging Ltd
Filleted Accounts
30 September 2024
Frontline Packaging Ltd
Registered number: 07776011
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 3,181 2,967
Current assets
Stocks 599 306
Debtors 4 31,294 140,107
Cash at bank and in hand 501,768 150,911
533,661 291,324
Creditors: amounts falling due within one year 5 (268,410) (102,364)
Net current assets 265,251 188,960
Net assets 268,432 191,927
Capital and reserves
Called up share capital 50 50
Capital redemption reserve 50 50
Profit and loss account 268,332 191,827
Shareholders' funds 268,432 191,927
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Tony Hacker
Director
Approved by the board on 13 May 2025
Frontline Packaging Ltd
Notes to the Accounts
for the year ended 30 September 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion is measured by reference to the terms of the sale contract.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Computer and office equipment over 3 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 October 2023 4,444 15,241 19,685
Additions - 3,166 3,166
At 30 September 2024 4,444 18,407 22,851
Depreciation
At 1 October 2023 4,110 12,608 16,718
Charge for the year 84 2,868 2,952
At 30 September 2024 4,194 15,476 19,670
Net book value
At 30 September 2024 250 2,931 3,181
At 30 September 2023 334 2,633 2,967
4 Debtors 2024 2023
£ £
Trade debtors 28,935 137,873
Other debtors 2,359 2,234
31,294 140,107
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 97,577 64,112
Taxation and social security costs 122,454 20,108
Other creditors 48,379 18,144
268,410 102,364
6 Related party transactions
The company has entered into a licence agreement with the director in respect of business use of his home, whereby a fair proportion of household expenses are reimbursed. During the year £1,000 (2023 £1,150) was paid in respect of such expenses.
7 Other information
Frontline Packaging Ltd is a private company limited by shares and incorporated in England. Its registered office is:
40 The Village
Old Warden
Beds
SG18 9HQ
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