Company registration number 04204173 (England and Wales)
PACKAGING WORLD LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
PAGES FOR FILING WITH REGISTRAR
PACKAGING WORLD LIMITED
CONTENTS
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 5
Packaging World Limited
PACKAGING WORLD LIMITED
Statement of financial position
as at 30 April 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
522,946
547,334
Current assets
Stocks
72,014
76,565
Debtors
202,512
229,976
Cash at bank and in hand
159,834
159,996
434,360
466,537
Creditors: amounts falling due within one year
(280,409)
(321,555)
Net current assets
153,951
144,982
Total assets less current liabilities
676,897
692,316
Creditors: amounts falling due after more than one year
(60,117)
(141,236)
Provisions for liabilities
5
(9,835)
(13,113)
Net assets
606,945
537,967
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
606,845
537,867
Total equity
606,945
537,967
Packaging World Limited
PACKAGING WORLD LIMITED
Statement of financial position (CONTINUED)
as at 30 April 2025
- 2 -
In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 18 June 2025 and are signed on its behalf by:
J Coupe
Director
Company Registration No. 04204173
Packaging World Limited
PACKAGING WORLD LIMITED
Notes to the Financial Statements
for the year ended 30 April 2025
- 3 -
1
Accounting policies
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts. Turnover is recognised at the point of sale.
Intangible fixed assets - goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of between 5 to 10 years.
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Land and buildings Freehold
- 2% straight line
Plant and machinery
- 25% reducing balance
Fixtures, fittings & equipment
- 25% reducing balance
Motor vehicles
- 25% reducing balance
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential.
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Packaging World Limited
PACKAGING WORLD LIMITED
Notes to the Financial Statements (CONTINUED)
for the year ended 30 April 2025
1
Accounting policies
(Continued)
- 4 -
Deferred tax
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deffered tax balance has not been discounted.
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the statement of financial position as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2025
2024
Number
Number
Total
11
12
3
Intangible fixed assets
Total
£
Cost
At 1 May 2024 and 30 April 2025
120,000
Amortisation and impairment
At 1 May 2024 and 30 April 2025
120,000
Carrying amount
At 30 April 2025
At 30 April 2024
Packaging World Limited
PACKAGING WORLD LIMITED
Notes to the Financial Statements (CONTINUED)
for the year ended 30 April 2025
- 5 -
4
Tangible fixed assets
Land and buildings Freehold
Plant and machinery
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 May 2024 and 30 April 2025
563,738
40,683
29,567
88,473
722,461
Depreciation and impairment
At 1 May 2024
68,857
38,443
23,788
44,039
175,127
Depreciation charged in the year
11,275
560
1,444
11,109
24,388
At 30 April 2025
80,132
39,003
25,232
55,148
199,515
Carrying amount
At 30 April 2025
483,606
1,680
4,335
33,325
522,946
At 30 April 2024
494,881
2,240
5,779
44,434
547,334
5
Provisions for liabilities
2025
2024
£
£
Deferred tax liabilities
9,835
13,113
6
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
100
100
100
100