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REGISTERED NUMBER: 04677781 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31st March 2025

for

The Packhouse Limited

The Packhouse Limited (Registered number: 04677781)

Contents of the Financial Statements
for the Year Ended 31st March 2025










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


The Packhouse Limited

Company Information
for the Year Ended 31st March 2025







DIRECTORS: Miss A J Hougham
J H D Cree





REGISTERED OFFICE: Hewetts Kilns
Tongham Road
Runfold
Farnham
Surrey
GU10 1PJ





REGISTERED NUMBER: 04677781 (England and Wales)





ACCOUNTANTS: Whiteleys
Chartered Certified Accountants
Sovereign House
155 High Street
Aldershot
Hampshire
GU11 1TT

The Packhouse Limited (Registered number: 04677781)

Balance Sheet
31st March 2025

2025 2024
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 1,876,816 856,526
1,876,816 856,526

CURRENT ASSETS
Stocks 7 249,472 225,313
Debtors 8 6,609 29,292
Cash at bank and in hand 166,214 255,713
422,295 510,318
CREDITORS
Amounts falling due within one year 9 318,757 229,870
NET CURRENT ASSETS 103,538 280,448
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,980,354

1,136,974

CREDITORS
Amounts falling due after more than one
year

10

(1,158,890

)

(377,432

)

PROVISIONS FOR LIABILITIES (25,987 ) (31,889 )
NET ASSETS 795,477 727,653

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 795,475 727,651
SHAREHOLDERS' FUNDS 795,477 727,653

The Packhouse Limited (Registered number: 04677781)

Balance Sheet - continued
31st March 2025


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2025 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.

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 22nd August 2025 and were signed on its behalf by:





Miss A J Hougham - Director


The Packhouse Limited (Registered number: 04677781)

Notes to the Financial Statements
for the Year Ended 31st March 2025


1. STATUTORY INFORMATION

The Packhouse 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entity.

Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company’s interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business.

Goodwill recognised at acquisition is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis over its useful life, which is estimated to be ten years.

Goodwill amortisation is charged on a straight line basis so as to write off the cost of the asset, less its residual value assumed to be zero, over its useful economic life, which is estimated to be ten years.

Goodwill amortisation is included in administrative expenses in the statement of comprehensive
income.

The Packhouse Limited (Registered number: 04677781)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2025


3. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible fixed assets are carried at cost less accumulated depreciation and accumulated impairment losses.

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over their estimated useful lives as follows:

Freehold property-2% on cost
Improvements to property-20% on cost and 25% reducing balance
Plant & machinery-25% and 15% reducing balance
Fixtures and fittings-25% on reducing balance
Motor vehicles-25% on reducing balance
Website-25% on reducing balance

On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in profit or loss.

Stocks
Stocks are measured at the lower of cost and selling price less cost to complete and sell.

Cost is calculated on a first in, first out basis and includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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 balance sheet date.


The Packhouse Limited (Registered number: 04677781)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2025


3. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet 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
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases

The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments.

Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life.

Operating lease payments are recognised as an expense on a straight line basis over the lease term.

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.

The Packhouse Limited (Registered number: 04677781)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2025


3. ACCOUNTING POLICIES - continued

Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets, which is the higher of value in use and the fair value less cost to sell, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit or loss.

Stocks are also assessed for impairment at each reporting date. The carrying amount of each item of stock, or group of similar items, is compared with its selling price less costs to complete and sell. If an item of stock or group of similar items is impaired, its carrying amount is reduced to selling price less costs to complete and sell, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss is subsequently reversed, the carrying amount of the asset or group of related assets is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset or group of related assets in prior periods. A reversal of an impairment loss is recognised immediately in profit or loss.

Borrowing costs
All borrowing costs are recognised in profit or loss in the period in which they are incurred.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2024 - 17 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st April 2024
and 31st March 2025 63,500
AMORTISATION
At 1st April 2024
and 31st March 2025 63,500
NET BOOK VALUE
At 31st March 2025 -
At 31st March 2024 -

The Packhouse Limited (Registered number: 04677781)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2025


6. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1st April 2024 1,173,395 81,226 178,038
Additions 1,067,454 - 2,400
Disposals - - -
At 31st March 2025 2,240,849 81,226 180,438
DEPRECIATION
At 1st April 2024 445,890 70,909 84,142
Charge for year 23,468 2,579 15,268
Eliminated on disposal - - -
At 31st March 2025 469,358 73,488 99,410
NET BOOK VALUE
At 31st March 2025 1,771,491 7,738 81,028
At 31st March 2024 727,505 10,317 93,896

Fixtures
and Motor
fittings vehicles Website Totals
£    £    £    £   
COST
At 1st April 2024 99,963 6,500 16,779 1,555,901
Additions 420 - - 1,070,274
Disposals - (4,200 ) - (4,200 )
At 31st March 2025 100,383 2,300 16,779 2,621,975
DEPRECIATION
At 1st April 2024 81,131 1,625 15,678 699,375
Charge for year 4,813 431 275 46,834
Eliminated on disposal - (1,050 ) - (1,050 )
At 31st March 2025 85,944 1,006 15,953 745,159
NET BOOK VALUE
At 31st March 2025 14,439 1,294 826 1,876,816
At 31st March 2024 18,832 4,875 1,101 856,526

The Packhouse Limited (Registered number: 04677781)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2025


6. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1st April 2024
and 31st March 2025 155,000
DEPRECIATION
At 1st April 2024 66,950
Charge for year 13,207
At 31st March 2025 80,157
NET BOOK VALUE
At 31st March 2025 74,843
At 31st March 2024 88,050

7. STOCKS
2025 2024
£    £   
Stocks 249,472 225,313

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 5,454 8,493
Other debtors 1,155 20,799
6,609 29,292

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Bank loans and overdrafts 81,406 58,584
Hire purchase contracts (see note 11) 10,408 9,951
Trade creditors 40,124 64,494
Taxation and social security 54,492 28,883
Other creditors 132,327 67,958
318,757 229,870

The Packhouse Limited (Registered number: 04677781)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2025


10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2025 2024
£    £   
Bank loans 1,043,246 275,321
Hire purchase contracts (see note 11) 53,211 63,621
Other creditors 62,433 38,490
1,158,890 377,432

11. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase
contracts
2025 2024
£    £   
Net obligations repayable:
Within one year 10,408 9,951
Between one and five years 53,211 63,621
63,619 73,572

Non-cancellable
operating leases
2025 2024
£    £   
Within one year 49,610 49,610
Between one and five years 18,226 67,836
67,836 117,446

12. SECURED DEBTS

The following secured debts are included within creditors:

2025 2024
£    £   
Bank loans 1,111,568 310,642

The bank loans are secured by fixed and floating charges over the land and buildings of The Packhouse Limited.

The Packhouse Limited (Registered number: 04677781)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2025


13. RELATED PARTY DISCLOSURES

During the year, Palm House (at The Packhouse) Ltd was invoiced £30,802 (£28,915 - YE 2024) by The Packhouse Limited for the rental of property and equipment, plus £8,686 (£5,233 - YE 2024) for services.

The Packhouse Limited charged Palm House (at The Packhouse) Ltd £16,757 (Nil - YE 2024) for management fees, plus £2,658 for services. The Palm house (at The Packhouse Limited) charged The Packhouse management fees of Nil (£23,200 - 2024).

At the balance sheet date, Palm House (at The Packhouse) Ltd was owed from The Packhouse Limited, the sum of £80,882 (£17,716 - YE 2024).

The Packhouse Limited is a company in which the director and shareholder, A Hougham, has a material interest.