Company No: 06715977 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTOR

Mr D R Peters

REGISTERED OFFICE	Rebecca Works
	Scott Lidgett Road
	Longport
	Stoke-On-Trent
	ST6 4NQ
	United Kingdom

COMPANY NUMBER

06715977 (England and Wales)

ACCOUNTANT	Shaw Gibbs Limited
	264 Banbury Road
	Oxford
	OX2 7DY
	United Kingdom

	Note	2025		2024
		£		£
Fixed assets
Intangible assets	3	8,542		0
Tangible assets	4	20,414		30,717
		28,956		30,717
Current assets
Stocks		55,350		62,204
Debtors	5	334,208		328,611
Cash at bank and in hand		36,281		44,726
		425,839		435,541
Creditors: amounts falling due within one year	6	( 213,869)		( 220,790)
Net current assets		211,970		214,751
Total assets less current liabilities		240,926		245,468
Creditors: amounts falling due after more than one year	7	0		( 9,803)
Provision for liabilities	8	( 5,103)		( 7,679)
Net assets		235,823		227,986
Capital and reserves
Called-up share capital	9	100		100
Profit and loss account		235,723		227,886
Total shareholder's funds		235,823		227,986

For the financial year ending 30 June 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 member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of TPI For Packaging Ltd (registered number: 06715977) were approved and authorised for issue by the Director on 16 December 2025. They were signed on its behalf by:

Mr D R Peters Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

TPI For Packaging Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Rebecca Works, Scott Lidgett Road, Longport, Stoke-On-Trent, ST6 4NQ.

The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Short term benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill	10 years straight line
Website costs	4 years straight line

Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life, which is 10 years.

Other 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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery	15 % reducing balance
Fixtures and fittings	15 % reducing balance
Computer equipment	4 years straight line

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

Government grants relating to turnover are recognised as income over the periods when the related costs are incurred. Grants relating to an asset are recognised in income systematically over the asset's expected useful life. If part of such a grant is deferred it is recognised as deferred income rather than being deducted from the asset's carrying amount.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	5		5

3. Intangible assets

	Goodwill		Website costs		Total
	£		£		£
Cost
At 01 July 2024	310,000		0		310,000
Additions	0		10,000		10,000
At 30 June 2025	310,000		10,000		320,000
Accumulated amortisation
At 01 July 2024	310,000		0		310,000
Charge for the financial year	0		1,458		1,458
At 30 June 2025	310,000		1,458		311,458
Net book value
At 30 June 2025	0		8,542		8,542
At 30 June 2024	0		0		0

4. Tangible assets

	Plant and machinery		Fixtures and fittings		Computer equipment		Total
	£		£		£		£
Cost
At 01 July 2024	45,605		6,577		40,747		92,929
Additions	0		0		466		466
At 30 June 2025	45,605		6,577		41,213		93,395
Accumulated depreciation
At 01 July 2024	41,691		1,809		18,712		62,212
Charge for the financial year	587		715		9,467		10,769
At 30 June 2025	42,278		2,524		28,179		72,981
Net book value
At 30 June 2025	3,327		4,053		13,034		20,414
At 30 June 2024	3,914		4,768		22,035		30,717

5. Debtors

	2025		2024
	£		£
Trade debtors	166,202		160,734
Amounts owed by Parent undertakings	161,983		161,983
Other debtors	6,023		5,894
	334,208		328,611

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans and overdrafts	84,937		91,522
Trade creditors	65,404		62,056
Corporation tax	19,719		25,240
Other taxation and social security	19,737		15,513
Other creditors	24,072		26,459
	213,869		220,790

Included in Bank loans and overdrafts are £75,137 (2024: £81,725) of debt factorings that are secured by way of a fixed and floating charge.

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

	2025		2024
	£		£
Bank loans	0		9,803

8. Deferred tax

	2025		2024
	£		£
At the beginning of financial year	( 7,679)		( 9,203)
Credited to the Profit and Loss Account	2,576		1,524
At the end of financial year	( 5,103)		( 7,679)

9. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100		100

10. Financial commitments

Commitments

	2025		2024
	£		£
Total future minimum lease payments under non-cancellable operating leases	63,385		38,808

11. Related party transactions

At the year end the company owed £3,560 (2024: £4,862) to the director. The amount is interest free and repayable on demand.

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

12. Ultimate controlling party

The immediate parent company is Gamist Ltd.

The ultimate controlling party is David Peters.