Company No: 08121488 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	3	1,646,235		1,269,195
		1,646,235		1,269,195
Current assets
Stocks		236,531		221,790
Debtors	4	583,360		523,003
Cash at bank and in hand		254,707		301,202
		1,074,598		1,045,995
Creditors: amounts falling due within one year	5	( 972,780)		( 517,981)
Net current assets		101,818		528,014
Total assets less current liabilities		1,748,053		1,797,209
Creditors: amounts falling due after more than one year	6	( 519,015)		( 590,848)
Provision for liabilities		( 323,942)		( 267,647)
Net assets		905,096		938,714
Capital and reserves
Called-up share capital	7	100		100
Profit and loss account		904,996		938,614
Total shareholders' funds		905,096		938,714

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 financial statements for the financial year in accordance with section 476;
• 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Tamar Packaging Limited (registered number: 08121488) were approved and authorised for issue by the Board of Directors on 01 September 2025. They were signed on its behalf by:

Mr A A High Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Tamar Packaging Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Marquis House, Gulworthy, Tavistock, PL19 8JE, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements	33 years straight line
Plant and machinery	15 % reducing balance
Vehicles	25 % reducing balance
Office equipment	25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	14		15

3. Tangible assets

	Leasehold improve- ments		Plant and machinery		Vehicles		Office equipment		Total
	£		£		£		£		£
Cost
At 01 January 2024	138,888		1,761,217		84,221		44,823		2,029,149
Additions	60,413		507,130		235,947		0		803,490
Disposals	0		0		( 165,062)		0		( 165,062)
At 31 December 2024	199,301		2,268,347		155,106		44,823		2,667,577
Accumulated depreciation
At 01 January 2024	11,355		686,130		34,501		27,968		759,954
Charge for the financial year	5,983		237,335		35,585		4,216		283,119
Disposals	0		0		( 21,731)		0		( 21,731)
At 31 December 2024	17,338		923,465		48,355		32,184		1,021,342
Net book value
At 31 December 2024	181,963		1,344,882		106,751		12,639		1,646,235
At 31 December 2023	127,533		1,075,087		49,720		16,855		1,269,195

4. Debtors

	2024		2023
	£		£
Trade debtors	556,370		494,871
Amounts owed by Group undertakings	23,075		23,075
Other debtors	3,915		5,057
	583,360		523,003

5. Creditors: amounts falling due within one year

	2024		2023
	£		£
Trade creditors	292,480		238,858
Amounts owed to Group undertakings	722		1,035
Other taxation and social security	22,533		45,509
Obligations under finance leases and hire purchase contracts	170,597		172,975
Other creditors	486,448		59,604
	972,780		517,981

The finance lease liabilities are secured against the assets to which they relate.

6. Creditors: amounts falling due after more than one year

	2024		2023
	£		£
Obligations under finance leases and hire purchase contracts	519,015		590,848

The finance lease liabilities are secured against the assets to which they relate.

7. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
75 A ordinary shares of £ 1.00 each	75		75
25 B ordinary shares of £ 1.00 each	25		25
	100		100

8. Ultimate controlling party

Parent Company:

Coastpoint Limited

The registered office of the company is C/O Francis Clark Llp Melville Building East, Royal William Yard, Plymouth, Devon, United Kingdom, PL1 3GW