Gopak Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 00536385

GOPAK LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 December 2024

GOPAK LIMITED

STATEMENT OF FINANCIAL POSITION

31 December 2024

	2024		2023
Note	£	£	£	£

FIXED ASSETS

Intangible assets	5	66,737	74,862
Tangible assets	6	3,237,959	3,411,258
		------------	------------
		3,304,696	3,486,120

CURRENT ASSETS

Stocks		615,617	612,112
Debtors	7	1,956,561	476,877
Cash at bank and in hand		258,196	1,434,159
		------------	------------
		2,830,374	2,523,148

CREDITORS: amounts falling due within one year	8	740,281		527,311
		------------		------------
NET CURRENT ASSETS			2,090,093		1,995,837
			------------		------------
TOTAL ASSETS LESS CURRENT LIABILITIES			5,394,789		5,481,957

CREDITORS: amounts falling due after more than one year	9		9,803		134,004

PROVISIONS	86,569	125,744
	------------	------------
NET ASSETS	5,298,417	5,222,209
	------------	------------

CAPITAL AND RESERVES

Called up share capital fully paid	2,000	2,000
Revaluation reserve	1,632,567	1,632,567
Profit and loss account	3,663,850	3,587,642
	------------	------------
SHAREHOLDERS FUNDS	5,298,417	5,222,209
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the 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.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

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

GOPAK LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 30 September 2025 , and are signed on behalf of the board by:

Mr A P Wells
Director

Company registration number: 00536385

GOPAK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2024

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Headlands House, 1 Kings Court, Kettering Parkway, Kettering, Northamptonshire, NN15 6WJ.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. 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.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

Goodwill	-	5 years
Design patents	-	10 years

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold property	-	Over the remaining useful life
Plant and machinery	-	20% straight line
Fixtures and fittings	-	20% straight line
Motor vehicles	-	20% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. EMPLOYEE NUMBERS

The average number of persons employed by the company during the year amounted to 36 (2023: 39 ).

5. INTANGIBLE ASSETS

	Goodwill	Patents, trademarks and licences	Total
	£	£	£
Cost
At 1 January 2024 and 31 December 2024	153,678	147,603	301,281
	---------	---------	---------
Amortisation
At 1 January 2024	86,178	140,241	226,419
Charge for the year	7,500	625	8,125
	---------	---------	---------
At 31 December 2024	93,678	140,866	234,544
	---------	---------	---------
Carrying amount
At 31 December 2024	60,000	6,737	66,737
	---------	---------	---------
At 31 December 2023	67,500	7,362	74,862
	---------	---------	---------

6. TANGIBLE ASSETS

	Freehold property	Plant and machinery	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£	£
Cost
At 1 January 2024	3,211,500	2,633,566	793,855	85,254	6,724,175
Additions	–	13,987	31,129	–	45,116
Disposals	–	–	–	( 85,254)	( 85,254)
	------------	------------	---------	--------	------------
At 31 December 2024	3,211,500	2,647,553	824,984	–	6,684,037
	------------	------------	---------	--------	------------
Depreciation
At 1 January 2024	401,500	2,309,222	598,006	4,189	3,312,917
Charge for the year	–	74,718	62,632	–	137,350
Disposals	–	–	–	( 4,189)	( 4,189)
	------------	------------	---------	--------	------------
At 31 December 2024	401,500	2,383,940	660,638	–	3,446,078
	------------	------------	---------	--------	------------
Carrying amount
At 31 December 2024	2,810,000	263,613	164,346	–	3,237,959
	------------	------------	---------	--------	------------
At 31 December 2023	2,810,000	324,344	195,849	81,065	3,411,258
	------------	------------	---------	--------	------------

Tangible assets held at valuation

There was a valuation of property by Stafford Perkins in April 2023 of £2,810,000. The increase in value was assumed to all relate to the land value.

7. DEBTORS

	2024	2023
	£	£
Trade debtors	394,340	349,621
Amounts owed by group undertakings and undertakings in which the company has a participating interest	1,530,400	30,000
Other debtors	31,821	97,256
	------------	---------
	1,956,561	476,877
	------------	---------

8. CREDITORS: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	329,373	172,142
Corporation tax	92,749	63,590
Social security and other taxes	111,735	168,491
Other creditors	206,424	123,088
	---------	---------
	740,281	527,311
	---------	---------

9. CREDITORS: amounts falling due after more than one year

	2024	2023
	£	£
Other creditors	9,803	134,004
	-------	---------

10. RELATED PARTY TRANSACTIONS

Advantage has been taken of the exemption conferred by FRS 102 S1A to subsidiary undertakings, of whose voting rights are controlled within the group, not to disclose transactions with other group companies.