REGISTERED NUMBER: SC718282 (Scotland)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

SPP Flexible Packaging Limited

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Intangible assets

4

24

108

Tangible assets

5

97,248

80,640

97,272

80,748

CURRENT ASSETS

Stocks

114,155

48,011

Debtors

6

520,102

333,329

Cash at bank

277,482

327,769

911,739

709,109

CREDITORS

Amounts falling due within one year

7

(663,554

)

(507,589

)

NET CURRENT ASSETS

248,185

201,520

TOTAL ASSETS LESS CURRENT LIABILITIES

345,457

282,268

CREDITORS

Amounts falling due after more than one year

8

(34,782

)

(44,270

)

PROVISIONS FOR LIABILITIES

(24,318

)

(2,758

)

NET ASSETS

286,357

235,240

CAPITAL AND RESERVES

Called up share capital

103

103

Retained earnings

286,254

235,137

286,357

235,240

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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 25 September 2025 and were signed on its behalf by:

Mr James Stuart Reeves - Director

1.	STATUTORY INFORMATION

Spp Flexible Packaging Limited is a private company, limited by shares, domiciled in Scotland, registration number SC718282. The registered office is Westland House, 14 Inchyra Road, Grangemouth, FK3 9XB.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents net invoiced sales of goods and services in respect of the supply of packaging, excluding value added tax. Sales are recognised at the point at which the goods are delivered or the service is complete.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets and depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

33% on cost and 25% on reducing balance

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is represented by purchase price.

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.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Provisions

Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2024

and 31 December 2024

840

AMORTISATION

At 1 January 2024

732

Charge for year

84

At 31 December 2024

816

NET BOOK VALUE

At 31 December 2024

24

At 31 December 2023

108

Patents and licences are being amortised evenly over their estimated useful life of ten years.

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

106,958

Additions

59,505

At 31 December 2024

166,463

DEPRECIATION

At 1 January 2024

26,318

Charge for year

42,897

At 31 December 2024

69,215

NET BOOK VALUE

At 31 December 2024

97,248

At 31 December 2023

80,640

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 January 2024

79,968

Additions

53,087

At 31 December 2024

133,055

DEPRECIATION

At 1 January 2024

16,645

Charge for year

28,882

At 31 December 2024

45,527

NET BOOK VALUE

At 31 December 2024

87,528

At 31 December 2023

63,323

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

468,467

302,522

Other debtors

51,635

30,807

520,102

333,329

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

10,000

10,000

Hire purchase contracts

24,257

13,201

Trade creditors

201,842

140,864

Taxation and social security

223,579

138,112

Other creditors

203,876

205,412

663,554

507,589

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans

5,834

15,834

Hire purchase contracts

28,948

28,436

34,782

44,270

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

£

Hire purchase contracts

53,205

41,637

Amounts due in relation to hire purchase and finance leases are secured against the assets to which they relate.