The Packaging and Films Association Limited 02530361 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is a mutual trading assocation that promotes the interests of its member companies. As such, the company does not seek to trade for profit, with any surplus being retained and used for the purpose of the Association and its members. Digita Accounts Production Advanced 6.30.9574.0 true true 02530361 2024-01-01 2024-12-31 02530361 2024-12-31 02530361 core:CurrentFinancialInstruments 2024-12-31 02530361 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 02530361 bus:SmallEntities 2024-01-01 2024-12-31 02530361 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 02530361 bus:FilletedAccounts 2024-01-01 2024-12-31 02530361 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 02530361 bus:RegisteredOffice 2024-01-01 2024-12-31 02530361 bus:Director2 2024-01-01 2024-12-31 02530361 bus:Director3 2024-01-01 2024-12-31 02530361 bus:CompanyLimitedByGuarantee 2024-01-01 2024-12-31 02530361 core:ComputerEquipment 2024-01-01 2024-12-31 02530361 countries:AllCountries 2024-01-01 2024-12-31 02530361 2023-01-01 2023-12-31 02530361 2023-12-31 02530361 core:CurrentFinancialInstruments 2023-12-31 02530361 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 iso4217:GBP xbrli:pure

Registration number: 02530361

The Packaging and Films Association Limited

trading as The Packaging and Films Association

(A company limited by guarantee)

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

The Packaging and Films Association Limited

trading as The Packaging and Films Association

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

The Packaging and Films Association Limited

trading as The Packaging and Films Association

Company Information

Directors

Mr D R Muir

Philip Kenneth Law

Registered office

Unit 10 Phoenix Park
Stephenson Industrial Estate
Telford Way
Coalville
Leicestershire
LE67 3HB

Accountants

Evolve Accountants and Business Advisors Limited
Unit 10 Phoenix Park
Stephenson Industrial Estate
Telford Way
Coalville
Leicestershire
LE67 3HB

 

The Packaging and Films Association Limited

trading as The Packaging and Films Association

(Registration number: 02530361)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Current assets

 

Debtors

4

160,446

160,568

Investments

5

2

2

Cash at bank and in hand

 

19,142

89,433

 

179,590

250,003

Creditors: Amounts falling due within one year

6

(15,078)

(57,749)

Net assets

 

164,512

192,254

Reserves

 

Retained earnings

164,512

192,254

Surplus

 

164,512

192,254

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 1 July 2025 and signed on its behalf by:
 

.........................................
Mr D R Muir
Director

 

The Packaging and Films Association Limited

trading as The Packaging and Films Association

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a company limited by guarantee, incorporated in England and Wales , and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £500 towards the assets of the company in the event of liquidation.

The address of its registered office is:
Unit 10 Phoenix Park
Stephenson Industrial Estate
Telford Way
Coalville
Leicestershire
LE67 3HB

These financial statements were authorised for issue by the Board on 1 July 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Group accounts not prepared

The company has taken advantage of the option not to prepare consolidated abridged financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group..

Going concern

The financial statements have been prepared on a going concern basis.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer equipment

33% straight line

 

The Packaging and Films Association Limited

trading as The Packaging and Films Association

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

 

The Packaging and Films Association Limited

trading as The Packaging and Films Association

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Financial instruments

Classification
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
 Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purpose of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

1

-

Amounts owed by related parties

78,914

149,800

Other debtors

 

81,531

10,768

   

160,446

160,568

5

Current asset investments

2024
£

2023
£

Shares in group undertakings

2

2

 

The Packaging and Films Association Limited

trading as The Packaging and Films Association

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

13,819

53,603

Other creditors

1,259

4,146

15,078

57,749