Registered number
07387292
B F Packaging Ltd
Filleted Accounts
for the year ended 31 August 2024
B F Packaging Ltd
Registered number: 07387292
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 31,480 12,511
Current assets
Stocks 19,598 18,541
Cash at bank and in hand 36,588 22,684
56,186 41,225
Creditors: amounts falling due within one year 4 (83,268) (52,415)
Net current liabilities (27,082) (11,190)
Net assets 4,398 1,321
Capital and reserves
Called up share capital 2 2
Profit and loss account 4,396 1,319
Shareholders' funds 4,398 1,321
The directors are 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 directors acknowledge their 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.
Mr Saeed Idris Adam
Director
Approved by the board on 2 May 2025
B F Packaging Ltd
Notes to the Accounts
for the year ended 31 August 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.
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:
Leasehold land and buildings Nil
Plant and machinery 20% reducing balances
Fixtures, fittings, tools and equipment 20% reducing balances
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 September 2023 11,792 30,903 42,695
Additions - 25,500 25,500
At 31 August 2024 11,792 56,403 68,195
Depreciation
At 1 September 2023 10,298 19,886 30,184
Charge for the year 290 6,241 6,531
At 31 August 2024 10,588 26,127 36,715
Net book value
At 31 August 2024 1,204 30,276 31,480
At 31 August 2023 1,494 11,017 12,511
4 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 26,936 25,080
Taxation and social security costs (738) 2,659
Other creditors 57,070 24,676
83,268 52,415
5 Other information
B F Packaging Ltd is a private company limited by shares and incorporated in England. Its registered office is:
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