FLEXPAK (UK) LTD - Filleted accounts

Registered number

06845495

FLEXPAK (UK) LTD

Filleted Accounts

31 March 2025

FLEXPAK (UK) LTD
Registered number:		06845495
Balance Sheet
as at 31 March 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	3		1,994,991			2,050,926

Current assets
Stocks		1,001,102			1,004,225
Debtors	4	1,543,281			1,853,340
Cash at bank and in hand		635,608			140,039
		3,179,991			2,997,604

Creditors: amounts falling due within one year	5	(1,333,085)			(1,511,408)

Net current assets			1,846,906			1,486,196

Total assets less current liabilities			3,841,897			3,537,122

Creditors: amounts falling due after more than one year	6		(445,674)			(503,032)

Provisions for liabilities			(75,900)			(79,600)


Net assets			3,320,323			2,954,490

Capital and reserves
Called up share capital			100			100
Revaluation reserve	8		227,804			227,804
Profit and loss account			3,092,419			2,726,586

Shareholder's funds			3,320,323			2,954,490

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.



H Fearnley			N Hopkins
Director			Director
Approved by the board on 12 December 2025

FLEXPAK (UK) LTD
Notes to the Accounts
for the year ended 31 March 2025


1	Accounting policies

	Basis of preparation
	Flexpak (UK) Ltd is a company limited by shares incorporated in England and Wales within the United Kingdom. The financial statements have been prepared in accordance with applicable accounting standards, Financial Reporting Standard 102 The Financial Reporting Standard Applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The financial statements have been prepared on a going concern basis under the historical cost convention. The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all periods presented unless otherwise stated.

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods.

	Tangible fixed assets
	Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

	Freehold property			2% per annum
	Motor vehicle			25% per annum
	Plant and machinery			rates varying from 4 to 10 years depending
				on type of asset

	Investment properties
	Investment properties are measured at fair value at each reporting date with changes in fair value recognised in the profit and loss account.

	Stocks
	Stock is stated at the lower of cost and estimated selling price. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete andslow-moving stock where appropriate.

	Debtors and creditors receivable/payable within one year
	Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

	Loans and borrowings
	Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

	Taxation
	Current tax represents the amount of tax payable or receivable in respect of the taxable profit or loss for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits total comprehensive income as stated in the financial statements that arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences.

	Foreign currency translation
	Foreign currency transactions are initially recognised by applying to the foreign currency amount the spot exchange rate between the functional currency and the foreign currency at the date of the transaction. Monetary assets and liabilities denominated in a foreign currency at the balance sheet date are translated using the closing rate.

	Leased assets
	Rentals payable and receivable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

	Grants
	Capital grants relating to the purchase of fixed assets are treated as deferred income and are written off to the profit and loss account over the useful life of the related asset. Revenue based grants are recognised in the profit and loss account in the same period as the expenditure to which the grant relates.

	Employee benefits
	When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service. The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.


2	Employees					2025		2024
Number							Number

	Average number of persons employed by the company					16		14


3	Tangible fixed assets
		Investment property		Freehold properties		Plant and machinery		Total
£			£		£		£
	Cost
	At 1 April 2024	875,000		1,317,558		260,039		2,452,597
	Disposals	-		-		(50,200)		(50,200)
	At 31 March 2025	875,000		1,317,558		209,839		2,402,397

	Depreciation
	At 1 April 2024	-		198,245		203,426		401,671
	Charge for the year	-		26,514		29,421		55,935
	On disposals	-		-		(50,200)		(50,200)
	At 31 March 2025	-		224,759		182,647		407,406

	Net book value
	At 31 March 2025	875,000		1,092,799		27,192		1,994,991
	At 31 March 2024	875,000		1,119,313		56,613		2,050,926

	An investment property was valued at £750,000 on 13th July 2021 by an independent valuer holding a recognised and relevant professional qualification. In the opinion of the directors, the property's fair value at 31st March 2025 was £750,000. A second investment property was purchased in August 2023. In the opinion of the directors, this property's fair value at 31st March 2025 was £125,000. The historical cost of the investment properties is £594,174 (2024 - £594,174).


4	Debtors					2025		2024
£							£

	Trade debtors					1,395,666		1,564,312
	Director's loan account					-		188,227
	Other debtors					147,615		100,801
						1,543,281		1,853,340


5	Creditors: amounts falling due within one year					2025		2024
£							£

	Bank loans and overdrafts					53,671		52,048
	Trade creditors					447,097		649,382
	Deferred capital grants					3,685		4,386
	Taxation and social security costs					599,940		581,513
	Accruals and deferred income					228,692		224,079
						1,333,085		1,511,408


6	Creditors: amounts falling due after one year					2025		2024
£							£

	Bank loans					377,767		431,438
	Deferred capital grants					67,907		71,594
						445,674		503,032

	Bank loans include aggregate amounts of £144,744 (2024 - £205,809) which fall due after five
	years and which are payable by instalments.

	Deferred capital grants include £60,867 (2024 - £62,627) which will be released to the profit
	and loss account after more than five years.


7	Loans					2025		2024
£							£
	Creditors include:

	Secured bank loans					431,438		483,486

	The bank loans are secured by fixed charges over the company's freehold and investment properties.


8	Revaluation reserve					2025		2024
£							£

	At 1 April 2024					227,804		224,623
	Gain on revaluation of land and buildings					-		4,181
	Deferred taxation arising on the revaluation of land and buildings					-		(1,000)

	At 31 March 2025					227,804		227,804


9	Directors' advances, credits and guarantees

	During the previous year, the company made advances to a director totalling £188,227. The loan was interest free and was repayable on demand. The loan was repaid on 3rd June 2024.


10	Other information

	FLEXPAK (UK) LTD is a private company limited by shares and incorporated in England. Its registered office is:
	Unit 1B Waterside Park
	Valley Road
	Wombwell
	Barnsley
	S73 0BB