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Registered Number: 05295999
England and Wales

 

 

 

FW PACKAGING (NORTHERN) LIMITED



Unaudited Financial Statements
 


Period of accounts

Start date: 01 January 2024

End date: 31 December 2024
 
 		 Notes
 		 2024
£		   2023
£
Fixed assets      
Intangible fixed assets 3 12,000    13,000 
Tangible fixed assets 4 75,614    78,162 
87,614    91,162 
Current assets      
Stocks 5 160,000    190,932 
Debtors 6 95,795    87,274 
Cash at bank and in hand 65,606    54,795 
321,401    333,001 
Creditors: amount falling due within one year 7 (277,265)   (249,441)
Net current assets 44,136    83,560 
 
Total assets less current liabilities 131,750    174,722 
Creditors: amount falling due after more than one year 8 (37,960)   (36,496)
Net assets 93,790    138,226 
 

Capital and reserves 		     
Called up share capital 300    300 
Profit and loss account 93,490    137,926 
Shareholders' funds 93,790    138,226 
 


For the year ended 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:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 04 September 2025 and were signed on its behalf by:


-------------------------------
Melvyn Holman
Director
1
General Information
FW Packaging (Northern) Limited is a private company, limited by shares, registered in England and Wales, registration number 05295999, registration address Unit 5 Tynepoint Industrial Estate, Shaftesbury Avenue, Jarrow, NE32 3SP.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102(1A) The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves, respectively.
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 25 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Motor Vehicles 25% Reducing Balance
Plant and Machinery 15% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees


Average number of employees during the year was 8 (2023 : 7).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 January 2024 25,000    25,000 
Additions -    - 
Disposals -    - 
At 31 December 2024 25,000    25,000 
Amortisation
At 01 January 2024 12,000    12,000 
Charge for year 1,000    1,000 
On disposals -    - 
At 31 December 2024 13,000    13,000 
Net book values
At 31 December 2024 12,000    12,000 
At 31 December 2023 13,000    13,000 


4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Total
  £   £   £
At 01 January 2024 49,140    112,321    161,461 
Additions 175    28,994    29,169 
Disposals -    (30,589)   (30,589)
At 31 December 2024 49,315    110,726    160,041 
Depreciation
At 01 January 2024 29,977    53,322    83,299 
Charge for year 2,900    16,143    19,043 
On disposals -    (17,915)   (17,915)
At 31 December 2024 32,877    51,550    84,427 
Net book values
Closing balance as at 31 December 2024 16,438    59,176    75,614 
Opening balance as at 01 January 2024 19,163    58,999    78,162 


5.

Stocks

2024
£		   2023
£
Stocks 160,000    190,932 
160,000    190,932 

6.

Debtors: amounts falling due within one year

2024
£		   2023
£
Trade Debtors 90,597    82,465 
Prepayments & Accrued Income 5,198    4,809 
95,795    87,274 

7.

Creditors: amount falling due within one year

2024
£		   2023
£
Trade Creditors 79,735    55,168 
Corporation Tax 5,907    18,521 
PAYE & Social Security 0    2,248 
Pension Control Account 131    188 
Obligations under HP/Financial Leases 10,782    7,283 
Directors' Current Accounts 154,239    150,806 
VAT 26,471    15,227 
277,265    249,441 

8.

Creditors: amount falling due after more than one year

2024
£		   2023
£
Obligations Under HP/Financial Leases 37,960    36,496 
37,960    36,496 

9.

Directors advances, credits and guarantees

Included in creditors: amounts due within one year, are amounts owed to the Directors of £154,239 (2023 - £150,806)
2