REGISTERED NUMBER: SC126734 (Scotland)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Marshall Wilson Packaging Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Giles Allen Hill

Frederick John Wingfield-Digby

Francis Angus Locke Marx

REGISTERED OFFICE:

Unit 3

Bogmoor Place

Glasgow

G51 4TQ

REGISTERED NUMBER:

SC126734 (Scotland)

ACCOUNTANTS:

Clements

Chartered Accountants

39 St Vincent Place

Glasgow

G1 2ER

BANKERS:

Bank of Scotland

54/62 Sauchiehall Street

Glasgow

G2 3AH

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

1,130,525

1,236,255

1,130,525

1,236,255

CURRENT ASSETS

Stocks

568,572

854,130

Debtors

6

407,129

422,138

Cash at bank and in hand

158,717

162,238

1,134,418

1,438,506

CREDITORS

Amounts falling due within one year

7

480,392

578,239

NET CURRENT ASSETS

654,026

860,267

TOTAL ASSETS LESS CURRENT LIABILITIES

1,784,551

2,096,522

CREDITORS

Amounts falling due after more than one year

8

-

(165,942

)

PROVISIONS FOR LIABILITIES

(136,251

)

(17,862

)

NET ASSETS

1,648,300

1,912,718

CAPITAL AND RESERVES

Called up share capital

5,000

5,000

Non distributable reserves

10

470,893

712,203

Retained earnings

10

1,172,407

1,195,515

SHAREHOLDERS' FUNDS

1,648,300

1,912,718

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 December 2025 and were signed on its behalf by:

Francis Angus Locke Marx - Director

1.	STATUTORY INFORMATION

Marshall Wilson Packaging Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

The turnover shown in the profit and loss account represents revenue recognised by the company in respect of goods and services supplied during the period, exclusive of Value Added Tax and trade discounts. Revenue is recognised when the company has the right to receive it.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of four years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Land and buildings

-

2% on cost

Plant and machinery etc

-

33% on cost, 25% on cost, 20% on cost and 5% on cost

Stocks

Stocks are valued at the lower of cost and selling price less costs to complete and sell.

Financial instruments

The company only has basic financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Taxation

Taxation for the year comprises current and deferred tax.

The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Leasing and hire purchase commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2024 - 16 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

63,991

AMORTISATION

At 1 April 2024

and 31 March 2025

63,991

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST OR VALUATION

At 1 April 2024

1,150,000

293,857

1,443,857

Additions

-

58,649

58,649

Disposals

-

(26,300

)

(26,300

)

Revaluations

(125,000

)

-

(125,000

)

At 31 March 2025

1,025,000

326,206

1,351,206

DEPRECIATION

At 1 April 2024

-

207,602

207,602

Charge for year

-

39,379

39,379

Eliminated on disposal

-

(26,300

)

(26,300

)

At 31 March 2025

-

220,681

220,681

NET BOOK VALUE

At 31 March 2025

1,025,000

105,525

1,130,525

At 31 March 2024

1,150,000

86,255

1,236,255

Cost or valuation at 31 March 2025 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Valuation in 2023

378,810

-

378,810

Valuation in 2024

250,000

-

250,000

Valuation in 2025

(125,000

)

-

(125,000

)

Cost

521,190

326,206

847,396

1,025,000

326,206

1,351,206

If land and buildings had not been revalued they would have been included at the following historical cost:

31.3.25

31.3.24

£

£

Cost

521,190

521,190

Aggregate depreciation

83,393

83,393

Land and buildings were valued on an open market basis on 31 March 2025 by the directors .

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST OR VALUATION

At 1 April 2024

93,600

Transfer to ownership

(93,600

)

At 31 March 2025

-

DEPRECIATION

At 1 April 2024

46,800

Transfer to ownership

(46,800

)

At 31 March 2025

-

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

46,800

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

364,962

394,157

Other debtors

42,167

27,981

407,129

422,138

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

148,749

25,432

Hire purchase contracts

-

7,778

Trade creditors

215,378

275,695

Taxation and social security

68,271

164,318

Other creditors

47,994

105,016

480,392

578,239

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans

-

165,942

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

54,275

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

£

Bank loans

148,749

191,374

The bank holds a Standard Security over property at Unit 3, 75 Bogmoor Place, Glasgow, G51 4SN.

This is supported by a bond and floating charge over the whole of the assets of the Company. The bank loans were fully repaid on the 1st April 2025.

10.

RESERVES

Non

Retained

distributable

earnings

reserves

Totals

£

£

£

At 1 April 2024

1,195,515

712,203

1,907,718

Deficit for the year

(93,418

)

(93,418

)

Dividends

(46,000

)

(46,000

)

Property revaluation

-

(125,000

)

(125,000

)

Transfer of reserves

116,310

(116,310

)

-

At 31 March 2025

1,172,407

470,893

1,643,300

11.	RELATED PARTY DISCLOSURES

Dividends paid to the directors and to the son of one of the directors total £46,000 (2024 - £46,000).