Registration number: 02264841

CFN Packaging Group Limited

Contents

Balance Sheet	1 to 2
Notes to the Financial Statements	3 to 9

CFN Packaging Group Limited

(Registration number: 02264841)
Balance Sheet as at 5 April 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	8,875	-
Tangible assets	5	5,094,347	4,453,128
Investment property	6	198,008	-
		5,301,230	4,453,128
Current assets
Stocks	7	1,923,579	1,043,606
Debtors	8	1,859,230	1,975,556
Cash at bank and in hand		238,006	92,981
		4,020,815	3,112,143
Creditors: Amounts falling due within one year	9	(2,458,119)	(2,217,506)
Net current assets		1,562,696	894,637
Total assets less current liabilities		6,863,926	5,347,765
Creditors: Amounts falling due after more than one year	9	(3,700,941)	(3,108,517)
Net assets		3,162,985	2,239,248
Capital and reserves
Called up share capital		836,777	836,777
Capital redemption reserve		28,782	28,782
Other reserves		88,163	88,163
Retained earnings		2,209,263	1,285,526
Shareholders' funds		3,162,985	2,239,248

For the financial period ending 5 April 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the Company to obtain an audit of its accounts for the period in question in accordance with section 476; and
•	The Directors acknowledge their 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 Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 25 November 2025 and signed on its behalf by:
 

CFN Packaging Group Limited

(Registration number: 02264841)
Balance Sheet as at 5 April 2025

......................................... B J Yardy Director

......................................... J Alexander Company secretary and director

CFN Packaging Group Limited

Notes to the Financial Statements for the Period from 1 April 2024 to 5 April 2025

1	General information

The company is a private company limited by share capital incorporated in England & Wales and the company registration number is 02264841.

The address of its registered office is:
Heath Road
Skegness
Lincolnshire
PE25 3ST

These financial statements cover the individual entity, CFN Packaging Group Limited.

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 including Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

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

The financial statements are prepared in sterling which is the functional currency of the company and have been rounded to the nearest pound.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Tax

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

There is no provision for deferred tax within the financial statements. This is because there is no expectation in the long term of disposing of a significant number of assets and causing a material reversal of accelerated capital allowances.

Tangible assets

Tangible assets are stated in the statement of financial position at cost/deemed 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.

CFN Packaging Group Limited

Notes to the Financial Statements for the Period from 1 April 2024 to 5 April 2025

Depreciation

Depreciation is charged on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Freehold land and buildings	Nil
Plant and machinery	5% on cost
Fixtures and fittings	20% reducing balance
Office equipment	25% on cost
Motor vehicles	25% reducing balance

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.

Amortisation

Asset class	Amortisation method and rate
Computer software	33% on cost

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, less provision for impairment. 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 receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

Borrowings

CFN Packaging Group Limited

Notes to the Financial Statements for the Period from 1 April 2024 to 5 April 2025

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Dividends

Dividend distribution to the Company's shareholders is recognised as a liability in the finacial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the period, was 43 (2024 - 35).

CFN Packaging Group Limited

Notes to the Financial Statements for the Period from 1 April 2024 to 5 April 2025

4	Intangible assets

	Computer Software £	Total £
Cost or valuation
Additions	8,875	8,875
At 5 April 2025	8,875	8,875
Amortisation
Carrying amount
At 5 April 2025	8,875	8,875

5	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 April 2024	1,007,158	5,127,074	15,911	6,150,143
Additions	203,944	965,001	-	1,168,945
Disposals	-	(533,802)	-	(533,802)
Transfers to/from investment property	(193,808)	-	-	(193,808)
At 5 April 2025	1,017,294	5,558,273	15,911	6,591,478
Depreciation
At 1 April 2024	-	1,682,665	14,350	1,697,015
Charge for the period	-	333,529	389	333,918
Eliminated on disposal	-	(533,802)	-	(533,802)
At 5 April 2025	-	1,482,392	14,739	1,497,131
Carrying amount
At 5 April 2025	1,017,294	4,075,881	1,172	5,094,347
At 31 March 2024	1,007,158	3,444,409	1,561	4,453,128

CFN Packaging Group Limited

Notes to the Financial Statements for the Period from 1 April 2024 to 5 April 2025

6	Investment properties

	2025 £
Additions	4,200
Transfers to/from freehold property	193,808
At 05 April 2025	198,008

The Directors consider the value stated to be representitive of market valuet and have therefore chosen not to engage with an independant valuation expert.

There has been no valuation of investment property by an independent valuer.

7

Stocks

	2025 £	2024 £
Raw materials and consumables	688,490	693,302
Work in progress	201,924	87,421
Other inventories	1,033,165	262,883
	1,923,579	1,043,606

8

Debtors

Current	2025 £	2024 £
Trade debtors	1,818,955	1,967,476
Other debtors	40,275	8,080
	1,859,230	1,975,556

CFN Packaging Group Limited

Notes to the Financial Statements for the Period from 1 April 2024 to 5 April 2025

9

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	11	525,135	411,137
Trade creditors		1,388,383	1,372,111
Taxation and social security		401,993	299,764
Accruals and deferred income		60,927	40,502
Other creditors		81,681	93,992
		2,458,119	2,217,506

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	11	2,016,290	1,800,265
Other financial liabilities		1,684,651	1,308,252
		3,700,941	3,108,517

 

	2025 £	2024 £
After more than five years by instalments	378,863	266,547
	378,863	266,547

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