Company No: 02887148 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	L Woolley
	G Woolley

SECRETARY

G Woolley

REGISTERED OFFICE	22 Wycombe End
	Beaconsfield
	Buckinghamshire
	HP9 1NB
	United Kingdom

COMPANY NUMBER

02887148 (England and Wales)

ACCOUNTANT	S&W Partners (Thames Valley) Limited
	22 Wycombe End
	Beaconsfield
	Buckinghamshire
	HP9 1NB

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	4	126,264		166,122
		126,264		166,122
Current assets
Stocks	5	111,072		106,209
Debtors	6	490,987		340,742
Cash at bank and in hand		630,225		655,792
		1,232,284		1,102,743
Creditors: amounts falling due within one year	7	( 349,988)		( 226,047)
Net current assets		882,296		876,696
Total assets less current liabilities		1,008,560		1,042,818
Provision for liabilities	8	( 31,067)		( 40,960)
Net assets		977,493		1,001,858
Capital and reserves
Called-up share capital	9	225		225
Share premium account		8,573		8,573
Profit and loss account		968,695		993,060
Total shareholders' funds		977,493		1,001,858

For the financial year ending 31 January 2025 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.

The financial statements of Excel Packaging & Insulation Co. Limited (registered number: 02887148) were approved and authorised for issue by the Board of Directors on 09 September 2025. They were signed on its behalf by:

Mr Graham Woolley 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

Excel Packaging & Insulation Co. 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 22 Wycombe End, Beaconsfield, Buckinghamshire, HP9 1NB, 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 ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The functional currency of Excel Packaging & Insulation Co. Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

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 packaging and other related products are recognised when the goods are physically delivered to the customer.

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 enacted or substantively enacted tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill

10 years straight line

Goodwill

Goodwill arises on a business combination and represents any excess of consideration given over fair value of the identifiable assets and liabilities acquired. It is written off on a straight line basis over its useful economic life 10 years taking into account any provision for impairment.

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	10 years straight line
Plant and machinery	25 % 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.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight-line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

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 includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

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, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

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

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	22		20

3. Intangible assets

	Goodwill		Total
	£		£
Cost
At 01 February 2024	1,000		1,000
At 31 January 2025	1,000		1,000
Accumulated amortisation
At 01 February 2024	1,000		1,000
At 31 January 2025	1,000		1,000
Net book value
At 31 January 2025	0		0
At 31 January 2024	0		0

4. Tangible assets

	Leasehold improve- ments		Plant and machinery		Vehicles		Office equipment		Total
	£		£		£		£		£
Cost
At 01 February 2024	87,148		567,730		143,533		0		798,411
Additions	0		1,529		0		0		1,529
At 31 January 2025	87,148		569,259		143,533		0		799,940
Accumulated depreciation
At 01 February 2024	66,476		475,236		90,577		0		632,289
Charge for the financial year	4,858		23,290		13,239		0		41,387
At 31 January 2025	71,334		498,526		103,816		0		673,676
Net book value
At 31 January 2025	15,814		70,733		39,717		0		126,264
At 31 January 2024	20,672		92,494		52,956		0		166,122

5. Stocks

	2025		2024
	£		£
Stocks	94,652		98,629
Work in progress	16,420		7,580
	111,072		106,209

6. Debtors

	2025		2024
	£		£
Trade debtors	414,231		266,191
S455	9,978		9,978
Other debtors	66,778		64,573
	490,987		340,742

7. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	208,004		118,725
Taxation and social security	88,626		57,699
Other creditors	53,358		49,623
	349,988		226,047

8. Deferred tax

	2025		2024
	£		£
At the beginning of financial year	( 40,960)		( 40,450)
Credited/(charged) to the Statement of Income and Retained Earnings	9,893		( 510)
At the end of financial year	( 31,067)		( 40,960)

9. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
200 A ordinary shares of £ 1.00 each	200		200
25 B ordinary shares of £ 1.00 each	25		25
	225		225

10. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

	2025		2024
	£		£
within one year	53,750		87,500
between one and five years	191,250		32,500
	245,000		120,000