REGISTERED NUMBER: 03566179 (England and Wales)

VERSAPAK INTERNATIONAL LIMITED

FINANCIAL STATEMENTS

FOR THE PERIOD

1 SEPTEMBER 2023 TO 31 DECEMBER 2024

Page

Company information

1

Balance sheet

2

Notes to the financial statements

3

DIRECTORS:

C G Napthine

R P Napthine

X C Barber

B G Barber

REGISTERED OFFICE:

Aspen House

Stephenson Road

Colchester

Essex

CO4 9QR

REGISTERED NUMBER:

03566179 (England and Wales)

AUDITORS:

Berringers LLP

Chartered Accountants

and Statutory Auditors

Lygon House

50 London Road

Bromley

Kent

BR1 3RA

FIXED ASSETS

Intangible assets

4

7,321

20,441

Tangible assets

5

804,838

617,286

Investments

6

984,614

984,614

1,796,773

1,622,341

CURRENT ASSETS

Stocks

418,424

338,121

Debtors

7

3,114,809

1,506,157

Cash at bank and in hand

826,176

2,198,301

4,359,409

4,042,579

CREDITORS

Amounts falling due within one year

8

953,961

501,723

NET CURRENT ASSETS

3,405,448

3,540,856

TOTAL ASSETS LESS CURRENT LIABILITIES

5,202,221

5,163,197

CREDITORS

Amounts falling due after more than one year

9

(312,932

)

-

PROVISIONS FOR LIABILITIES

(181,849

)

(141,358

)

NET ASSETS

4,707,440

5,021,839

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

4,707,438

5,021,837

SHAREHOLDERS' FUNDS

4,707,440

5,021,839

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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 December 2025 and were signed on its behalf by:

C G Napthine - Director

1.	STATUTORY INFORMATION

Versapak International Limited is a private company, limited by shares , registered in England and Wales. 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.

Going concern

The directors have reviewed the post year end financial information available at the time of approving these financial statements and have concluded that the financial statements should be prepared on a going concern basis.

Preparation of consolidated financial statements

The financial statements contain information about Versapak International Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, Versapak Group Limited, The Versapak Centre, 4 Veridion Way, Erith, Kent, DA18 4AL.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Development costs are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets

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

Improvements to property

- Straight line basis over useful lives

Plant and machinery

- Straight line basis over useful lives

Fixtures and fittings

- Straight line basis over useful lives

In the opinion of the directors the estimated useful life of the improvements to the property exceeds the term of the short lease, as the landlord has agreed to purchase the assets if the lease is not renewed at the end of the term. On this basis the improvements are to be depreciated over a 15 year period.

Investments

Investments are stated at cost less any provision for a permanent diminution in value.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 period 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.

Research and development

Development expenditure for individual projects is deferred when its future recoverability can be foreseen with reasonable certainty. The identifiable expenditure is then amortised over the period during which the benefit is expected to occur.

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.

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 period was 25 (2023 - 26 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 September 2023

and 31 December 2024

98,145

AMORTISATION

At 1 September 2023

77,704

Charge for period

13,120

At 31 December 2024

90,824

NET BOOK VALUE

At 31 December 2024

7,321

At 31 August 2023

20,441

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 September 2023

211,924

650,918

8,337

Additions

6,866

274,658

14,683

Disposals

-

(350

)

-

At 31 December 2024

218,790

925,226

23,020

DEPRECIATION

At 1 September 2023

168,759

123,613

6,197

Charge for period

19,613

96,541

1,586

At 31 December 2024

188,372

220,154

7,783

NET BOOK VALUE

At 31 December 2024

30,418

705,072

15,237

At 31 August 2023

43,165

527,305

2,140

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 September 2023

46,334

328,492

1,246,005

Additions

36,870

9,753

342,830

Disposals

-

-

(350

)

At 31 December 2024

83,204

338,245

1,588,485

DEPRECIATION

At 1 September 2023

16,217

313,933

628,719

Charge for period

27,718

9,470

154,928

At 31 December 2024

43,935

323,403

783,647

NET BOOK VALUE

At 31 December 2024

39,269

14,842

804,838

At 31 August 2023

30,117

14,559

617,286

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 September 2023

and 31 December 2024

984,614

NET BOOK VALUE

At 31 December 2024

984,614

At 31 August 2023

984,614

7.

DEBTORS

2024

2023

£

£

Amounts falling due within one year:

Trade debtors

365,219

287,574

Amounts owed by group undertakings

2,599,581

968,788

Other debtors

150,009

127,621

3,114,809

1,383,983

2024

2023

£

£

Amounts falling due after more than one year:

Amounts owed by group undertakings

-

122,174

Aggregate amounts

3,114,809

1,506,157

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

143,137

114,851

Amounts owed to group undertakings

545,664

309,409

Taxation and social security

196,759

56,564

Other creditors

68,401

20,899

953,961

501,723

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Amounts owed to group undertakings

312,932

-

10.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

£

£

Within one year

190,222

15,600

Between one and five years

212,313

-

402,535

15,600

11.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the auditors was unqualified.

Ricky Hutson BSc ACA FCCA (Senior Statutory Auditor)

for and on behalf of Berringers LLP

12.	RELATED PARTY DISCLOSURES

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.

13.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is not known.

The ultimate parent company is Aspen House Holdings Limited.

The parent company is Versapak Group Limited.