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REGISTERED NUMBER: 01294184 (England and Wales)

| AUDITED FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 30TH JUNE 2025 |

| FOR |

| NICHOLAS PACKAGING LIMITED |

NICHOLAS PACKAGING LIMITED (REGISTERED NUMBER: 01294184) |

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH JUNE 2025

Page |

| Company Information | 1 |

| Statement of Financial Position | 2 |

| Notes to the Financial Statements | 3 |

| NICHOLAS PACKAGING LIMITED |

COMPANY INFORMATION

FOR THE YEAR ENDED 30TH JUNE 2025

| DIRECTORS: | L G Nicholas

| C M Russell

| SECRETARY: | L G Nicholas

| REGISTERED OFFICE: | c/o Nicholas Packaging Limited

| Ham Lane

| Kingswinford

| West Midlands

| DY6 7JJ

| REGISTERED NUMBER: | 01294184 (England and Wales)

| SENIOR STATUTORY AUDITOR: | Stephen B. Ludlam

| AUDITORS: | French Ludlam & Co Limited

| Statutory Auditors and Accountants

| Mountfield House

| 661 High Street

| Kingswinford

| West Midlands

| DY6 8AL

| BANKERS: | Barclays Bank plc

| 1 Churchill Place

| Canary Wharf

| London

| E14 5HP

NICHOLAS PACKAGING LIMITED (REGISTERED NUMBER: 01294184) |

STATEMENT OF FINANCIAL POSITION

30TH JUNE 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 4 | - |  | - |  |

Tangible assets | 5 | 180,753 |  | 251,189 |  |

180,753 |  | 251,189 |  |

CURRENT ASSETS

Stocks | 832,481 |  | 1,042,018 |  |

Debtors | 6 | 2,220,430 |  | 1,645,013 |  |

Cash at bank and in hand | 1,981,036 |  | 1,601,387 |  |

5,033,947 |  | 4,288,418 |  |

CREDITORS

Amounts falling due within one year | 7 | 2,752,441 |  | 2,077,627 |  |

NET CURRENT ASSETS | 2,281,506 |  | 2,210,791 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 2,462,259 |  | 2,461,980 |  |

CREDITORS

Amounts falling due after more than one year | 8 | (24,714 | ) | (52,920 | ) |

PROVISIONS FOR LIABILITIES | (41,900 | ) | (59,299 | ) |

NET ASSETS | 2,395,645 |  | 2,349,761 |  |

CAPITAL AND RESERVES

Called up share capital | 23,225 |  | 23,225 |  |

Share premium | 3,800 |  | 3,800 |  |

Capital redemption reserve | 1,975 |  | 1,975 |  |

Retained earnings | 2,366,645 |  | 2,320,761 |  |

SHAREHOLDERS' FUNDS | 2,395,645 |  | 2,349,761 |  |

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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25th March 2026 and were signed on its behalf by:

L G Nicholas - Director

NICHOLAS PACKAGING LIMITED (REGISTERED NUMBER: 01294184) |

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH JUNE 2025

1. | STATUTORY INFORMATION

| Nicholas Packaging 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.

| The presentation currency of the financial statements is the Pound Sterling (£).

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.

| Related party exemption

| 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.

| Turnover

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

| Goodwill

| Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of five 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 each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

| Plant and machinery | - | 20% on cost

| Motor vehicles | - | 25% on 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 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 statement of financial position date.

NICHOLAS PACKAGING LIMITED (REGISTERED NUMBER: 01294184) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30TH JUNE 2025

2. | ACCOUNTING POLICIES - continued

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

| Foreign currencies

| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position 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.

| Hire purchase and leasing 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.

| 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 16 (2024 - 18 ) .

4. | INTANGIBLE FIXED ASSETS

| Goodwill

£ |

| COST

| At 1st July 2024

| and 30th June 2025 | 50,000 |  |

| AMORTISATION

| At 1st July 2024

| and 30th June 2025 | 50,000 |  |

| NET BOOK VALUE

| At 30th June 2025 | - |  |

| At 30th June 2024 | - |  |

NICHOLAS PACKAGING LIMITED (REGISTERED NUMBER: 01294184) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30TH JUNE 2025

5. | TANGIBLE FIXED ASSETS

| Plant and

| machinery

| etc

£ |

| COST

| At 1st July 2024 | 1,618,873 |  |

| Additions | 38,483 |  |

| Disposals | (27,133 | ) |

| At 30th June 2025 | 1,630,223 |  |

| DEPRECIATION

| At 1st July 2024 | 1,367,684 |  |

| Charge for year | 104,550 |  |

| Eliminated on disposal | (22,764 | ) |

| At 30th June 2025 | 1,449,470 |  |

| NET BOOK VALUE

| At 30th June 2025 | 180,753 |  |

| At 30th June 2024 | 251,189 |  |

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

| Plant and

| machinery

| etc

£ |

| COST

| At 1st July 2024

| and 30th June 2025 | 222,038 |  |

| DEPRECIATION

| At 1st July 2024 | 98,254 |  |

| Charge for year | 45,435 |  |

| Transfer to ownership | (14,768 | ) |

| At 30th June 2025 | 128,921 |  |

| NET BOOK VALUE

| At 30th June 2025 | 93,117 |  |

| At 30th June 2024 | 123,784 |  |

6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade debtors | 2,142,457 |  | 1,569,436 |  |

| Other debtors | 77,973 |  | 75,577 |  |

2,220,430 |  | 1,645,013 |  |

NICHOLAS PACKAGING LIMITED (REGISTERED NUMBER: 01294184) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30TH JUNE 2025

7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Hire purchase contracts (see note 9) | 28,206 |  | 38,346 |  |

| Trade creditors | 1,099,448 |  | 1,206,596 |  |

| Taxation and social security | 417,455 |  | 237,069 |  |

| Other creditors | 1,207,332 |  | 595,616 |  |

2,752,441 |  | 2,077,627 |  |

8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

2025 | 2024 |

£ | £ |

| Hire purchase contracts (see note 9) | 24,714 |  | 52,920 |  |

9. | LEASING AGREEMENTS

| Minimum lease payments fall due as follows:

| Hire purchase |

| contracts |

2025 | 2024 |

£ | £ |

| Net obligations repayable:

| Within one year | 28,206 |  | 38,346 |  |

| Between one and five years | 24,714 |  | 52,920 |  |

52,920 |  | 91,266 |  |

| Non-cancellable |

| operating leases |

2025 | 2024 |

£ | £ |

| Within one year | 9,826 |  | 15,268 |  |

| Between one and five years | 13,032 |  | 2,379 |  |

22,858 |  | 17,647 |  |

10. | SECURED DEBTS

| The following secured debts are included within creditors:

2025 | 2024 |

£ | £ |

| Hire purchase contracts | 52,920 |  | 91,266 |  |

| Hire purchase liabilities are secured against the assets to which they relate.

NICHOLAS PACKAGING LIMITED (REGISTERED NUMBER: 01294184) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30TH JUNE 2025

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

| The Report of the Auditors was unqualified.

| Stephen B. Ludlam (Senior Statutory Auditor)

| for and on behalf of French Ludlam & Co Limited

12. | ULTIMATE CONTROLLING PARTY

| The controlling party is Llamedos Holdings Limited.

| Llamedos Holdings Limited is a UK registered company (Company number 11710087) , and their registered office is Ham Lane, Kingswinford, West Midlands, DY6 7JJ.