Total Packaging Services Limited 05660008 false 2024-02-01 2025-01-31 2025-01-31 The principal activity of the company is that of the supply of packaging materials and services Digita Accounts Production Advanced 6.30.9574.0 true 05660008 2024-02-01 2025-01-31 05660008 2025-01-31 05660008 core:AcceleratedTaxDepreciationDeferredTax 2025-01-31 05660008 core:CurrentFinancialInstruments 2025-01-31 05660008 core:CurrentFinancialInstruments core:WithinOneYear 2025-01-31 05660008 core:Goodwill 2025-01-31 05660008 core:FurnitureFittingsToolsEquipment 2025-01-31 05660008 bus:SmallEntities 2024-02-01 2025-01-31 05660008 bus:AuditExemptWithAccountantsReport 2024-02-01 2025-01-31 05660008 bus:FilletedAccounts 2024-02-01 2025-01-31 05660008 bus:SmallCompaniesRegimeForAccounts 2024-02-01 2025-01-31 05660008 bus:RegisteredOffice 2024-02-01 2025-01-31 05660008 bus:Director1 2024-02-01 2025-01-31 05660008 bus:PrivateLimitedCompanyLtd 2024-02-01 2025-01-31 05660008 core:Goodwill 2024-02-01 2025-01-31 05660008 core:FurnitureFittingsToolsEquipment 2024-02-01 2025-01-31 05660008 core:PlantMachinery 2024-02-01 2025-01-31 05660008 countries:EnglandWales 2024-02-01 2025-01-31 05660008 core:Goodwill 2024-01-31 05660008 core:FurnitureFittingsToolsEquipment 2024-01-31 05660008 2023-02-01 2024-01-31 05660008 2024-01-31 05660008 core:AcceleratedTaxDepreciationDeferredTax 2024-01-31 05660008 core:CurrentFinancialInstruments 2024-01-31 05660008 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 05660008 core:Goodwill 2024-01-31 05660008 core:FurnitureFittingsToolsEquipment 2024-01-31 iso4217:GBP xbrli:pure

Registration number: 05660008

Prepared for the registrar
Total Packaging Services Limited
Annual Report and Unaudited Financial Statements
for the Year Ended 31 January 2025

Total Packaging Services Limited

(Registration number: 05660008)
Balance Sheet as at 31 January 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Intangible assets | 4 | 75,000 | 150,000
Tangible assets | 5 | 2,262 | 2,183
|  | 77,262 | 152,183
Current assets |  |  |
Debtors | 6 | 2,421,669 | 1,945,597
Cash at bank and in hand |  | 928,539 | 684,006
|  | 3,350,208 | 2,629,603
Creditors: Amounts falling due within one year | 7 | (585,404) | (861,079)
Net current assets |  | 2,764,804 | 1,768,524
Total assets less current liabilities |  | 2,842,066 | 1,920,707
Deferred tax liabilities | 8 | (566) | (546)
Net assets |  | 2,841,500 | 1,920,161
Capital and reserves |  |  |
Called up share capital |  | 100 | 100
Retained earnings |  | 2,841,400 | 1,920,061
Shareholders' funds |  | 2,841,500 | 1,920,161

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.

Director's responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 15 October 2025

P D Cross
Director

Total Packaging Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

| 1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
7 Sandy Lane Road
Charlton Kings
Cheltenham
GL53 9DB

| 2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Judgements and estimation uncertainty

These financial statements do not contain any significant judgements or estimation uncertainty.

Revenue recognition

Turnover represents amount chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date.

Tax

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

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 taxable income.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
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.

Total Packaging Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Plant and machinery | 25% on written down value per annum

Intangible assets

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date.
Negative goodwill arising on an acquisition is recognised on the face of the balance sheet on the acquisition date and subsequently the excess up to the fair value of non-monetary assets acquired is recognised in profit or loss in the periods in which the non-monetary assets are recovered.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class | Amortisation method and rate
Goodwill | Over ten years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtors.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Total Packaging Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Financial instruments

Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Impairment
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 profit or loss.

| 3 | Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2024 - 1).

| 4 | Intangible assets

| Goodwill £
Cost
At 1 February 2024 | 1,500,000
At 31 January 2025 | 1,500,000
Amortisation
At 1 February 2024 | 1,350,000
Amortisation charge | 75,000
At 31 January 2025 | 1,425,000
Carrying amount
At 31 January 2025 | 75,000
At 31 January 2024 | 150,000

Total Packaging Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

| 5 | Tangible assets

| Plant and machinery £
Cost
At 1 February 2024 | 17,893
Additions | 833
Disposals | (10,991)
At 31 January 2025 | 7,735
Depreciation
At 1 February 2024 | 15,710
Charge for the year | 754
Eliminated on disposal | (10,991)
At 31 January 2025 | 5,473
Carrying amount
At 31 January 2025 | 2,262
At 31 January 2024 | 2,183

| 6 | Debtors

| Note | 2025 £ | 2024 £
Trade debtors |  | 634,097 | 593,824
Receivables from related parties | 9 | 153,129 | (34,404)
Prepayments |  | 307 | 262
Other debtors |  | 1,634,136 | 1,385,915
|  | 2,421,669 | 1,945,597

| 7 | Creditors

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Trade creditors |  | 343,609 | 514,700
Other creditors |  | 123 | 39
Accrued expenses |  | 3,200 | 4,125
Corporation tax liability |  | 238,472 | 342,215
|  | 585,404 | 861,079

Total Packaging Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

| 8 | Deferred tax

Deferred tax assets and liabilities

2025 | Liability £
Fixed asset timing differences | 566
| 566

2024 | Liability £
Fixed asset timing differences | 546
| 546

| 9 | Related party transactions

At 31 January 2025 the director, P D Cross owed the company £153,116 (2024: the company owed the director £34,417) in the form of a director's loan account. The loan is unsecured, repayable on demand and no interest is payable.
At 31 January 2025 the company was owed by its parent company, Packaging and Property Limited, £13 (2024: £13) in the form of a loan. The loan is unsecured, repayable on demand and no interest is payable.

| 10 | Control

The company's parent is Packaging and Property Limited incorporated in the United Kingdom.