Packed Up Limited

	Page
Company Information	1
Accountants' Report	2
Balance Sheet	3—4
Notes to the Financial Statements	5—9

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Packed Up Limited

Accountants' Report

For The Year Ended 31 May 2025

Accountants' Report

Report to the directors on the preparation of the unaudited statutory accounts of Packed Up Limited for the year ended 31 May 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Packed Up Limited which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.

This report is made to the directors of Packed Up Limited , as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Packed Up Limited and state those matters that we have agreed to state to the directors of Packed Up Limited , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Packed Up Limited and its directors as a body for our work or for this report.

It is your duty to ensure that Packed Up Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Packed Up Limited . You consider that Packed Up Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Packed Up Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.

2 October 2025

Nuvo Scotland Limited

Bankhead Drive

City South Office Park

Portlethen

Aberdeen

AB12 4XX

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Packed Up Limited

Balance Sheet

As At 31 May 2025

Balance Sheet

Registered number: SC698707

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		63,121		49,092
Tangible Assets	5		32,189		46,438

			95,310		95,530
CURRENT ASSETS
Stocks	6	161,115		179,689
Debtors	7	643,059		554,623
Cash at bank and in hand		125,961		124,180

		930,135		858,492
Creditors: Amounts Falling Due Within One Year	8	(474,932 )		(583,012 )

NET CURRENT ASSETS (LIABILITIES)			455,203		275,480

TOTAL ASSETS LESS CURRENT LIABILITIES			550,513		371,010

Creditors: Amounts Falling Due After More Than One Year	9		(12,126 )		(17,760 )

PROVISIONS FOR LIABILITIES
Deferred Taxation	11		(11,678 )		(11,610 )

NET ASSETS			526,709		341,640

CAPITAL AND RESERVES
Called up share capital			100		100
Profit and Loss Account			526,609		341,540

SHAREHOLDERS' FUNDS			526,709		341,640

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Packed Up Limited

Balance Sheet (continued)

As At 31 May 2025

For the year ending 31 May 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mrs S Wright

Director

1 October 2025

The notes on pages 5 to 9 form part of these financial statements.

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Packed Up Limited

Notes to the Financial Statements

For The Year Ended 31 May 2025

Notes to the Financial Statements

1. General Information

Packed Up Limited is a private company, limited by shares, incorporated in Scotland, registered number SC698707 . The registered office is Unit 11, Wellheads Terrace, Dyce, AB21 7GF.

The presentation currency of the financial statements is the Pound Sterling (£).

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.

2.2. Turnover

Turnover is stated net of VAT and trade discounts. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

2.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 15 years.

2.4. Intangible Fixed Assets and Amortisation - Other Intangible

Other intangible assets are website and bespoke software. It is amortised to profit and loss account over its estimated economic life of 3 and 4 years respectively.

2.5. Tangible Fixed Assets and Depreciation

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Assets held under finance leases are depreciated in the same way as owned assets.

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	25% on cost
Motor Vehicles	25% on cost
Fixtures & Fittings	25% on cost
Computer Equipment	25% on cost

2.6. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.7. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.

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Packed Up Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 May 2025

2.8. Financial Instruments

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other debtors and cash and bank balances are measured at transaction price including transaction costs.

Financial assets are derecognised when the contractual rights to cash flows from the asset expire or are settled or when the company transfers the risks and rewards of ownership to another entity.

Basic financial liabilities

Basic financial liabilities, which include trade and other creditors and bank loans payable within one year are not amortised and is recognised at transaction price.

Debt instruments are initially recognised at transaction price plus transaction cost and subsequently carried at amortised cost using the effective interest rate method.

Financial liabilities are derecognised when the company's contractual obligations are discharged.

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.

2.9. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.10. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 9 (2024: 8)

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Packed Up Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 May 2025

4. Intangible Assets

	Goodwill	Other	Total
	£	£	£
Cost
As at 1 June 2024	53,750	-	53,750
Additions	-	21,323	21,323

As at 31 May 2025	53,750	21,323	75,073

Amortisation
As at 1 June 2024	4,658	-	4,658
Provided during the period	3,494	3,800	7,294

As at 31 May 2025	8,152	3,800	11,952

Net Book Value
As at 31 May 2025	45,598	17,523	63,121

As at 1 June 2024	49,092	-	49,092

5. Tangible Assets

	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£	£
Cost
As at 1 June 2024	25,518	27,995	12,218	7,669	73,400
Additions	1,304	-	1,324	2,033	4,661

As at 31 May 2025	26,822	27,995	13,542	9,702	78,061

Depreciation
As at 1 June 2024	6,872	8,748	6,906	4,436	26,962
Provided during the period	6,595	6,999	3,244	2,072	18,910

As at 31 May 2025	13,467	15,747	10,150	6,508	45,872

Net Book Value
As at 31 May 2025	13,355	12,248	3,392	3,194	32,189

As at 1 June 2024	18,646	19,247	5,312	3,233	46,438

Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:

	2025	2024
	£	£
Motor Vehicles	12,248	19,247

6. Stocks

	2025	2024
	£	£
Stock	161,115	179,689

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Packed Up Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 May 2025

7. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	555,995	489,189
Prepayments and accrued income	86,639	65,225
Other debtors	425	209

	643,059	554,623

8. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	5,633	5,034
Trade creditors	212,450	211,751
Corporation tax	98,956	96,989
Other taxes and social security	3,481	2,495
VAT	55,526	53,039
Other creditors	59,074	19,856
Accruals and deferred income	1,742	6,356
Directors' loan accounts	38,070	187,492

	474,932	583,012

9. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	12,126	17,760

10. Obligations Under Finance Leases and Hire Purchase

	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	5,633	5,034
Later than one year and not later than five years	12,126	17,760

	17,759	22,794

	17,759	22,794

11. Deferred Taxation

The provision for deferred tax is made up as follows:

	2025	2024
	£	£
Other timing differences	11,678	11,610

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Packed Up Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 May 2025

12. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2025	2024
	£	£
Not later than one year	74,398	74,398
Later than one year and not later than five years	231,742	252,754
Later than five years	102,813	156,200

	408,953	483,352

13. Related Party Transactions

Directors Loans:

There is a directors loan balance of £312 (2024: £107,554) due to director 1.

There is a directors loan balance of £19,834 (2024: £31,826) due to director 2.

There is a directors loan balance of £17,924 (2024: £47,176) due to director 3.

These amounts bear no interest and have no fixed repayment terms.

14. Ultimate Controlling Party

The company's ultimate controlling party is Jennifer Crawford, Samantha Wright and Sean McConnochie by virtue of their ownership of 100% of the issued share capital in the company.

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Directors	Mr S McConochie
	Mrs S Wright
	Ms J Crawford

Company Number	SC698707

Registered Office	Unit 11
	Wellheads Terrace
	Dyce
	AB21 7GF

Accountants	Nuvo Scotland Limited
	Bankhead Drive
	City South Office Park
	Portlethen
	Aberdeen
	AB12 4XX