ACCOUNTS - Final Accounts preparation

Company registration number: SC234179

	UNAUDITED FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 DECEMBER 2024

	PACKOLOGY LIMITED


PACKOLOGY LIMITED

COMPANY INFORMATION

Director	Mr R Herridge


Registered number	SC234179


Registered office	7 Larchfield Drive
	Burnside
	Glasgow
	G73 4HA


Accountants	Menzies LLP
	Chartered Accountants
	3000a Parkway
	Whiteley
	Hampshire
	PO15 7FX


PACKOLOGY LIMITED

CONTENTS

	Page
Statement of Financial Position	1 - 2
Notes to the Financial Statements	3 - 6


PACKOLOGY LIMITED REGISTERED NUMBER:SC234179

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£

Fixed assets
Intangible assets	4		282		329
Tangible assets	5		68		101
			350		430
Current assets
Debtors: amounts falling due within one year	6	153,365		76,750
Cash at bank and in hand		16,177		27,503
		169,542		104,253
Creditors: amounts falling due within one year	7	(80,031)		(44,267)
Net current assets			89,511		59,986
Total assets less current liabilities			89,861		60,416
Creditors: amounts falling due after more than one year	8		(86,990)		(59,450)
Provisions for liabilities
Deferred tax		(17)		(38)
			(17)		(38)
Net assets			2,854		928

Page 1


PACKOLOGY LIMITED REGISTERED NUMBER:SC234179

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 DECEMBER 2024

		2024		2023
		£		£

Capital and reserves
Called up share capital	100	100
Profit and loss account	2,754	828
	2,854	928

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

Mr R Herridge

Director

Date: 26 September 2025

The notes on pages 3 to 6 form part of these financial statements.

Page 2


PACKOLOGY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

Packology Limited is a private company limited by shares, registered in England and Wales. The address of its registered office is disclosed on the company information page.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Page 3


PACKOLOGY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.6

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings

33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.8

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 4


PACKOLOGY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

4.	Intangible assets

		Intellectual property
		£
	Cost
	At 1 January 2024	470
	At 31 December 2024	470
	Amortisation
	At 1 January 2024	141
	Charge for the year on owned assets	47
	At 31 December 2024	188
	Net book value
	At 31 December 2024	282
	At 31 December 2023	329

5.	Tangible fixed assets

		Fixtures and fittings
		£
	Cost or valuation
	At 1 January 2024	10,353
	At 31 December 2024	10,353
	Depreciation
	At 1 January 2024	10,252
	Charge for the year on owned assets	33
	At 31 December 2024	10,285
	Net book value
	At 31 December 2024	68
	At 31 December 2023	101

Page 5


PACKOLOGY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Debtors

					2024	2023
					£	£


Other debtors	153,365	76,750
	153,365	76,750

7.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Bank loans	17,060	10,967
Corporation tax	46,896	29,243
Other taxation and social security	14,105	2,087
Accruals and deferred income	1,970	1,970
	80,031	44,267

8.	Creditors: Amounts falling due after more than one year
		2024	2023
		£	£

Bank loans	86,990	59,450
	86,990	59,450

9.	Related party transactions
	At the year end, included within other debtors were amounts due from a director totalling £115,069 (2023 - £61,710) This amount is undated, unsecured and interest free.

Page 6