F.D.L. Packaging Limited Company accounts

COMPANY REGISTRATION NUMBER: 1724650

F.D.L. Packaging Limited

Financial Statements

31 March 2025

F.D.L. Packaging Limited

Financial Statements

Year ended 31st March 2025

Contents	Page

Strategic report	1

Directors' report	4

Independent auditor's report to the members	6

Statement of income and retained earnings	10

Statement of financial position	11

Statement of cash flows	12

Notes to the financial statements	13

F.D.L. Packaging Limited

Strategic Report

Year ended 31st March 2025

The directors present their strategic report of the company for the year ended 31 March 2025.

Review of the business

The company has delivered a successful performance over the financial year, notwithstanding the continued challenges presented by a highly competitive marketplace. Encouragingly, the period has seen signs of moderating inflation but wage cost pressures remain. The benefits of the prior year's investment in the new warehouse facility are now being realised but due to customer demand external storage costs remain significant. Following the acquisition of the adjacent site, a planning application has now been submitted with a view to increase the company's overall storage capacity. This strategic acquisition supports the company's ongoing growth and operational efficiency objectives. The company continued to broaden its customer base throughout the financial year, which in turn generated increased demand for its products. The directors remain confident that the company will continue to experience increased levels of demand for its products in the current financial year.

Results

The company made a pre-tax profit of £542,844 (2024: £963,222) for the year from a turnover of £16,743,457 (2024: £16,240,554). At 31 March 2025 the company had net assets of £3,958,866 (2024: £3,631,922).

Principal risks and uncertainties

The principal risks and uncertainties facing the company primarily relate to fluctuations and uncertainties in the general economic climate in both the United Kingdom and global markets. These factors have the potential to influence customer demand, supply chain reliability, and overall trading conditions. To address and mitigate these risks, the directors continue to monitor economic developments closely and have implemented a range of strategies to enhance the company's resilience. These include significant ongoing investment in warehouse and distribution facilities to improve operational efficiency and maintain the company's ability to meet customer demand effectively. In addition to the general economic environment, the directors have identified the following key areas of risk and uncertainty: Market and Economic Risk - Changes in economic conditions, customer confidence, or market demand could impact sales volumes and profitability. The company manages this risk through diversification of its customer base and maintaining strong relationships across key sectors. Supply Chain Risk - Disruptions in the availability or cost of materials, transport, or logistics could affect the company's ability to fulfil customer orders. This risk is mitigated through long-term supplier relationships and investment in additional warehouse capacity to improve stock management and storage flexibility. Inflationary and Cost Pressure Risk - Increases in input costs, wages, or energy prices could affect margins. The company actively manages costs through operational efficiencies, supplier negotiations, and regular pricing reviews. Regulatory and Compliance Risk - Changes in legislation, particularly relating to packaging standards, environmental compliance, or health and safety, could affect operations. The company maintains strong compliance systems and monitors regulatory developments to ensure continued adherence. Cyber Security and IT Risk - Increasing reliance on digital systems exposes the business to potential cyber threats. The company employs robust IT security measures, data protection protocols, and regular system reviews to minimise exposure. The directors believe that, with these mitigating actions in place, the company is well positioned to manage its principal risks effectively and to continue delivering sustainable performance in the years ahead.

Performance monitoring

The delivery of the company's strategic objectives is closely monitored by the directors through the use of Key Performance Indicators (KPIs) and the regular review of key operational and financial metrics. The directors consider the following KPIs to be appropriate measures of performance and progress in achieving the company's corporate strategy: Turnover Growth Year-on-year increase in revenue, reflecting market expansion and customer acquisition. Gross Profit Margin Measuring efficiency in production and cost management. Operating Profit Margin Indicating the company's ability to control operating costs and maintain profitability. Customer Retention Rate Assessing the company's success in maintaining long-term customer relationships. Inventory Turnover Monitoring the efficiency of inventory management and supply chain operations. Health and Safety Performance Tracking compliance and the frequency of workplace incidents. These indicators are reviewed regularly to ensure alignment with the company's long-term strategic goals and to support sustainable growth and operational excellence.

This report was approved by the board of directors on 31st October 2025 and signed on behalf of the board by:

R.C. Atherton

Director

Registered office:

Abbeyway South

Vista Road

Haydock

St.Helens

WA11 ORW

F.D.L. Packaging Limited

Directors' Report

Year ended 31st March 2025

The directors present their report and the financial statements of the company for the year ended 31 March 2025 .

Principal activities

The principal activity of the company during the year was the marketing and supply of packaging materials.

Directors

The directors who served the company during the year were as follows:

S.G. Cunniffe
R.C. Atherton
R. Douse
D.V. Scotting
F.K. Cunniffe	(Died 22 August 2024)

Dividends

Dividends of £60,000 (2024: £90,000) were declared during the year.

Future developments

The company intends to make further investment in its storage and distribution facilities as part of its rolling capital investment programme. This will enhance the manufacturing capacity of the company and will allow it to maintain the efficient level of service provided to customers.

Financial instruments

The directors consider that the company only has limited exposure to the various aspects of financial risk and it does not enter into any non basic contracts as there is no requirement for this within its trade. The company's revenue is invoiced in sterling and all its operational costs arise within the United Kingdom.

Directors' responsibilities statement

The directors are responsible for preparing the strategic report, directors' report and the financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: - select suitable accounting policies and then apply them consistently; - make judgments and accounting estimates that are reasonable and prudent; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Statement of disclosure to auditor

Each of the persons who is a director at the date of approval of this report confirms that:

- so far as they are aware, there is no relevant audit information of which the company's auditor is unaware; and - they have taken all steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information.

This report was approved by the board of directors on 31 October 2025 and signed on behalf of the board by:

R.C. Atherton

Director

Registered office:

Abbeyway South

Vista Road

Haydock

St.Helens

WA11 ORW

F.D.L. Packaging Limited

Independent Auditor's Report to the Members of F.D.L. Packaging Limited

Year ended 31st March 2025

Opinion

We have audited the financial statements of F.D.L. Packaging Limited (the 'company') for the year ended 31st March 2025 which comprise the statement of income and retained earnings, statement of financial position, statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: - give a true and fair view of the state of the company's affairs as at 31st March 2025 and of its profit for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; - have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

- the information given in the strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: - adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or - the financial statements are not in agreement with the accounting records and returns; or - certain disclosures of directors' remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. The extent to which the audit was considered capable of detecting irregularities, including fraud Irregularities are instances of non-compliance with laws and regulations. The objectives of our audit are to obtain sufficient appropriate audit evidence regarding compliance with laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements, to perform audit procedures to help identify instances of non-compliance with other laws and regulations that may have a material effect on the financial statements, and to respond appropriately to identified or suspected non-compliance with laws and regulations identified during the audit. In relation to fraud, the objectives of our audit are to identify and assess the risk of material misstatement of the financial statements due to fraud, to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud through designing and implementing appropriate responses and to respond appropriately to fraud or suspected fraud identified during the audit. However, it is the primary responsibility of management, with the oversight of those charged with governance, to ensure that the entity's operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud. In identifying and assessing risks of material misstatement in respect of irregularities, including fraud, the audit engagement team: - obtained an understanding of the nature of the industry and sector, including the legal and regulatory framework that the company operates in and how the company is complying with the legal and regulatory framework; - inquired of management and those charged with governance, about their own identification and assessment of the risks of irregularities, including any known actual, suspected or alleged instances of fraud; - discussed matters about non-compliance with laws and regulations and how fraud might occur including assessment of how and where the financial statements may be susceptible to fraud. As a result of these procedures we consider the most significant laws and regulations that have a direct impact on the financial statements are FRS 102 and the Companies Act 2006. We performed audit procedures to detect non-compliances which may have a material impact on the financial statements which included reviewing financial statement disclosures. The audit engagement team identified the risk of management override of controls and revenue recognition as the areas where the financial statements were most susceptible to material misstatement due to fraud. Audit procedures performed included but were not limited to testing manual journal entries and other adjustments and evaluating the business rationale in relation to significant, unusual transactions and transactions entered into outside the normal course of business and testing a sample of revenue transactions recorded in the year to determine whether revenue had been recorded correctly. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report. Use of our report

This report is made solely to the company's members, as a body, in accordance with chapter 3 of part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Stuart Whitehead FCA

(Senior Statutory Auditor)

For and on behalf of

Edwards Veeder LLP

Chartered Accountants & statutory auditor

Alex House

260-268 Chapel Street

Salford

M3 5JZ

31 October 2025

F.D.L. Packaging Limited

Statement of Income and Retained Earnings

Year ended 31st March 2025

		2025	2024
Note		£	£
Turnover	4	16,743,457	16,240,554

Cost of sales	12,683,416	12,103,757
	-------------	-------------
Gross profit	4,060,041	4,136,797

Administrative expenses		3,625,828	3,226,108
Other operating income	5	102,348	86,947
		------------	------------
Operating profit	6	536,561	997,636

Other interest receivable and similar income	10	44,394	12,657
Interest payable and similar expenses	11	38,111	47,071
		------------	------------
Profit before taxation		542,844	963,222

Tax on profit	12	155,910	273,594
		---------	---------
Profit for the financial year and total comprehensive income		386,934	689,628
		---------	---------

Dividends paid and payable	13	( 60,000)	( 90,000)

Retained earnings at the start of the year	3,631,762	3,032,134
	------------	------------
Retained earnings at the end of the year	3,958,696	3,631,762
	------------	------------

All the activities of the company are from continuing operations.

F.D.L. Packaging Limited

Statement of Financial Position

31 March 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	14	1,216,222	1,098,928
Investments	15	301,500	301,500
		------------	------------
		1,517,722	1,400,428

Current assets

Stocks	16	845,648	627,204
Debtors	17	4,444,218	4,199,791
Cash at bank and in hand		1,780,367	1,748,732
		------------	------------
		7,070,233	6,575,727

Creditors: amounts falling due within one year	18	4,170,541		3,704,379
		------------		------------
Net current assets			2,899,692	2,871,348
			------------	------------
Total assets less current liabilities			4,417,414	4,271,776

Creditors: amounts falling due after more than one year	19		441,369	623,384

Provisions

Taxation including deferred tax	20	17,189	16,470
		------------	------------
Net assets		3,958,856	3,631,922
		------------	------------

Capital and reserves

Called up share capital	23	160	160
Profit and loss account	24	3,958,696	3,631,762
		------------	------------
Shareholders funds		3,958,856	3,631,922
		------------	------------

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the medium companies regime.

These financial statements were approved by the board of directors and authorised for issue on 31 October 2025 , and are signed on behalf of the board by:

S.G. Cunniffe	D.V. Scotting
Director	Director

Company registration number: 1724650

F.D.L. Packaging Limited

Statement of Cash Flows

Year ended 31st March 2025

	2025	2024
	£	£

Cash flows from operating activities

Profit for the financial year	386,934	689,628

Adjustments for:
Depreciation of tangible assets	7,194	12,815
Other interest receivable and similar income	( 44,394)	( 12,657)
Interest payable and similar expenses	38,111	47,071
Loss on disposal of tangible assets	2,528	–
Tax on profit	155,910	273,594
Accrued expenses	16,341	35,736

Changes in:
Stocks	( 218,444)	( 7,417)
Trade and other debtors	( 244,427)	( 29,426)
Trade and other creditors	463,706	177,724
	---------	------------
Cash generated from operations	563,459	1,187,068

Interest paid	( 38,111)	( 47,071)
Interest received	44,394	12,657
Tax paid	( 155,191)	( 271,545)
	---------	------------
Net cash from operating activities	414,551	881,109
	---------	------------

Cash flows from investing activities

Purchase of tangible assets	( 127,017)	( 89,248)
Proceeds from sale of tangible assets	1	–
	---------	------------
Net cash used in investing activities	( 127,016)	( 89,248)
	---------	------------

Cash flows from financing activities

Proceeds from borrowings	( 195,900)	651,094
Dividends paid	( 60,000)	( 90,000)
	---------	------------
Net cash (used in)/from financing activities	( 255,900)	561,094
	---------	------------

Net increase in cash and cash equivalents	31,635	1,352,955
Cash and cash equivalents at beginning of year	1,748,732	395,777
	------------	------------
Cash and cash equivalents at end of year	1,780,367	1,748,732
	------------	------------

F.D.L. Packaging Limited

Notes to the Financial Statements

Year ended 31st March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Abbeyway South, Vista Road, Haydock, St.Helens, WA11 ORW.

2. Statement of compliance

These financial statements have been prepared in compliance with 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.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Key sources of estimation uncertainty Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows: Useful life of fixed assets In making decisions regarding the depreciation of non current assets, management must estimate the useful life of said assets to the business. A change in estimate would result in a change in the depreciation charged to profit and loss in each year. The carrying amount of depreciation at the end of 31st March 2025 is £122,396 (2024: £120,022).

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.

Taxation

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.

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.

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. No depreciation has been charged on long leasehold property in the current year as it is considered that the residual value is not less than its carrying value.

Long Leasehold Property	-	No depreciation charged during the year
Plant and Machinery	-	10% reducing balance
Fixtures and Fittings	-	10% reducing balance
Motor Vehicles	-	25% reducing balance

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Investments in associates

Investments in associates are accounted for in accordance with the cost model and are recorded at cost less any accumulated impairment losses. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

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 are largely independent of the cash inflows from other assets or groups of assets.

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.

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. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

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. Turnover

Turnover arises from:

	2025	2024
	£	£
Sale of goods	16,743,457	16,240,554
	-------------	-------------

The whole of the turnover is attributable to the principal activity of the company wholly undertaken in the United Kingdom.

5. Other operating income

	2025	2024
	£	£
Rental income	89,087	64,621
Commission receivable	13,261	22,326
	---------	--------
	102,348	86,947
	---------	--------

6. Operating profit

Operating profit or loss is stated after charging:

	2025	2024
	£	£
Depreciation of tangible assets	7,194	12,815
Loss on disposal of tangible assets	2,528	–
Impairment of trade debtors	160,906	3,486
	---------	--------

7. Auditor's remuneration

	2025	2024
	£	£
Fees payable for the audit of the financial statements	10,325	9,850
	--------	-------

8. Staff costs

The average number of persons employed by the company during the year, including the directors, amounted to:

	2025	2024
	No.	No.
Administrative staff	13	13
Management staff	4	4
	----	----
	17	17
	----	----

The aggregate payroll costs incurred during the year, relating to the above, were:

	2025	2024
	£	£
Wages and salaries	1,851,350	1,724,969
Social security costs	236,929	206,438
Other pension costs	178,835	120,834
	------------	------------
	2,267,114	2,052,241
	------------	------------

9. Directors' remuneration

The directors' aggregate remuneration in respect of qualifying services was:

	2025	2024
	£	£
Remuneration	1,038,372	994,125
Company contributions to defined contribution pension plans	102,898	65,417
	------------	------------
	1,141,270	1,059,542
	------------	------------

The number of directors who accrued benefits under company pension plans was as follows:

	2025	2024
	No.	No.
Defined contribution plans	4	4
	----	----

Remuneration of the highest paid director in respect of qualifying services:

	2025	2024
	£	£
Aggregate remuneration	559,043	513,738
	---------	---------

10. Other interest receivable and similar income

	2025	2024
	£	£
Interest on cash and cash equivalents	44,394	12,657
	--------	--------

11. Interest payable and similar expenses

	2025	2024
	£	£
Interest on banks loans and overdrafts	38,111	47,071
	--------	--------

12. Tax on profit

Major components of tax expense

	2025	2024
	£	£

Current tax:

UK current tax expense	155,237	271,545
Adjustments in respect of prior periods	( 46)	–
	---------	---------
Total current tax	155,191	271,545
	---------	---------

Deferred tax:

Origination and reversal of timing differences	719	2,049
	---------	---------
Tax on profit	155,910	273,594
	---------	---------

Reconciliation of tax expense

The tax assessed on the profit on ordinary activities for the year is higher than (2024: higher than) the standard rate of corporation tax in the UK of 25 % (2024: 25 %).

	2025	2024
	£	£
Profit on ordinary activities before taxation	542,844	963,222
	---------	---------
Profit on ordinary activities by rate of tax	135,711	240,805
Adjustment to tax charge in respect of prior periods	( 46)	–
Effect of expenses not deductible for tax purposes	20,874	31,244
Effect of capital allowances and depreciation	( 1,348)	( 504)
Increase/(decrease) of deferred tax provision	719	2,049
	---------	---------
Tax on profit	155,910	273,594
	---------	---------

13. Dividends

	2025	2024
	£	£
Dividends proposed before the year end and recognised as a liability	60,000	90,000
	--------	--------

14. Tangible assets

	Long leasehold property	Plant and machinery	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£	£
Cost
At 1st April 2024	1,094,803	102,529	18,302	3,316	1,218,950
Additions	114,475	–	12,542	–	127,017
Disposals	–	( 2,907)	( 3,942)	( 500)	( 7,349)
	------------	---------	--------	-------	------------
At 31st March 2025	1,209,278	99,622	26,902	2,816	1,338,618
	------------	---------	--------	-------	------------
Depreciation
At 1st April 2024	61,800	51,241	3,888	3,093	120,022
Charge for the year	–	4,987	2,207	–	7,194
Disposals	–	( 1,492)	( 3,051)	( 277)	( 4,820)
	------------	---------	--------	-------	------------
At 31st March 2025	61,800	54,736	3,044	2,816	122,396
	------------	---------	--------	-------	------------
Carrying amount
At 31st March 2025	1,147,478	44,886	23,858	–	1,216,222
	------------	---------	--------	-------	------------
At 31st March 2024	1,033,003	51,288	14,414	223	1,098,928
	------------	---------	--------	-------	------------

Included within the above is investment property as follows:

	£
	---------
At 1st April 2024 and 31st March 2025	247,200
	---------

The directors have valued the property based on local market conditions. They consider the value shown in the accounts to accurately reflect a fair market value at 31 March 2025.

15. Investments

	Shares in Associate Undertaking
	£
Cost
At 1st April 2024 and 31st March 2025	301,500
	---------
Impairment
At 1st April 2024 and 31st March 2025	–
	---------

Carrying amount
At 31st March 2025	301,500
	---------
At 31st March 2024	301,500
	---------

Investments in associates and joint ventures

F.D.L. Packaging Limited holds 80 £1 ordinary D shares in Arran Pipeline Supplies Limited, a company whose registered office is 2 Forrest Road, Gatewarth Industrial Estate, Great Sankey, Warrington, Cheshire, WA5 1DF. This holding represents 38.1% of the total issued share capital of the company.

16. Stocks

	2025	2024
	£	£
Raw materials and consumables	845,648	627,204
	---------	---------

17. Debtors

	2025	2024
	£	£
Trade debtors	2,711,257	2,793,520
Prepayments and accrued income	54,311	29,772
Other debtors	1,678,650	1,376,499
	------------	------------
	4,444,218	4,199,791
	------------	------------

18. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	13,825	27,710
Trade creditors	2,759,197	2,290,588
Accruals and deferred income	243,200	226,859
Social security and other taxes	353,040	637,564
Other creditors	801,279	521,658
	------------	------------
	4,170,541	3,704,379
	------------	------------

National Westminster Bank PLC holds a charge over the assets of the company for all monies owed by the company.

19. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	441,369	623,384
	---------	---------

National Westminster Bank PLC holds a charge over the assets of the company for all monies owed by the company.

Included within creditors: amounts falling due after more than one year is an amount of £363,834 (2024: £490,734) in respect of liabilities payable by instalments which fall due for payment after more than five years from the reporting date.

20. Provisions

	Deferred tax (note 21)
	£
At 1st April 2024	16,470
Additions	719
	--------
At 31st March 2025	17,189
	--------

21. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2025	2024
	£	£
Included in provisions (note 20)	17,189	16,470
	--------	--------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2025	2024
	£	£
Accelerated capital allowances	17,189	16,470
	--------	--------

22. Employee benefits

Defined contribution plans

The amount recognised in profit or loss as an expense in relation to defined contribution plans was £ 75,937 (2024: £ 55,417 ).

23. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	100	100	100	100
A Ordinary shares of £ 1 each	60	60	60	60
	----	----	----	----
	160	160	160	160
	----	----	----	----

The Ordinary shares of £1 each are not redeemable and entitle the shareholders to vote, receive dividends and participate in a capital distribution. The A Ordinary shares of £1 each are not redeemable, have no voting rights and no right to capital other than the nominal value of the shares. They entitle the shareholders to receive dividends.

24. Reserves

Profit and loss reserve: The profit and loss reserve records retained earnings and accumulated losses.

25. Operating leases

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

	2025	2024
	£	£
Not later than 1 year	31,412	23,559
Later than 1 year and not later than 5 years	72,594	91,341
Later than 5 years	–	12,665
	---------	---------
	104,006	127,565
	---------	---------

26. Related party transactions

At 31 March 2025 the company was owed £1,678,590 (2024: £1,376,439) from companies related by common ownership and control. During the year the company received income of £64,266 (2024: £47,000) from companies related by common ownership and control, made up of sales: £13,866 (2024: £NIL) and rent: £50,400 (2024: £47,000) and incurred expenditure of £362,376 (2024: £531,372) made up of purchases: £230,376 (2024: £441,372) and rent: £132,000 (2024: £90,000). At 31 March 2025 the company owed £726,354 (2024: £405,227) to companies related by common ownership and control. No interest is charged on amounts outstanding and there are no fixed repayment terms. No securities have been given or received.

27. Controlling party

The company was under the control of S.G.Cunniffe throughout the current and previous year. S.G.Cunniffe is the managing director and majority shareholder.