Registered number: SC368382
FOR THE YEAR ENDED 31 DECEMBER 2025
COMPANY INFORMATION
CONTENTS
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The directors present the strategic report for the year ended 31 December 2025.
For the year to 31 December 2025, the directors are pleased to report turnover of £24,809,649 (2024 - £20,108,662) and an operating profit of £3,787,267 (2024 - £2,723,223) for the Company. Net assets of the Company have increased to £10,160,313 from £7,193,365 at 31 December 2025.
Despite challenging trading conditions, turnover remained strong. Our solutions provide real benefits and efficiencies to our customers' business operations and allows them to continue to fully operate their packaging lines despite a fall in available labour.
2025 saw an increase in repeat orders from existing customers as well as orders from new customers.
Despite challenging trading conditions, turnover remained strong. Our solutions provide real benefits and efficiencies to our customers' business operations and allows them to continue to fully operate their packaging lines despite a fall in available labour.
2025 saw an increase in repeat orders from existing customers as well as orders from new customers.
The key business risks affecting the Company and the wider group are the current economic conditions, foreign exchange management, the availability of skilled labour and the rising costs both in materials and hired staff.
The directors will continue to closely monitor the external factors which can affect our business and we have in place a risk management system which aims to manage and reduce the risks to which the Company is exposed.
The directors will continue to closely monitor the external factors which can affect our business and we have in place a risk management system which aims to manage and reduce the risks to which the Company is exposed.
The Company's KPI's, which also aligns with the KPI's of the wider group, include the following:
∙Development of our employees along with continuing to hire the right people who can help maintain our position as a leading global supplier to the food industry worldwide.
∙Increasing turnover and maintaining historical profit margins to enable us to further invest in our technology.
∙Building more sustainable solutions.
We will continue to work on AI for deep learning in our vision systems. We also aim to expand on our digital twin work with a view to having predictive maintenance information which minimises down-time in our systems.
This report was approved by the board and signed on its behalf.
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DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The directors present their report and the financial statements for the year ended 31 December 2025.
The Company are specialists in developing automated robotic packaging solutions for the food industry that improve the performance of production lines.
The profit for the year, after taxation, amounted to £2,966,948 (2024 - £2,154,289).
No dividends were declared or paid during the year (2024 - £Nil).
The directors who served during the year were:
The Company has chosen in accordance with the Companies Act 2006, s. 414C(11) to set out in the Group's strategic report information required by the Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the Directors' report. It has done so in respect of disclosure regarding financial risk objectives and future developments.
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DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
As part of a routine periodic review of banking arrangements, in February 2026, the Company satisfied the floating charge over all assets and undertakings of the business held by HSBC Bank PLC. Also, in February 2026, the Company registered the floating charge held by Santander UK PLC over all assets and undertakings of the business.
The auditor, S&W Audit (a trading name of S&W Partners Audit Limited), will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
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DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2025
The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF PWR PACK LTD
We have audited the financial statements of PWR Pack Ltd (the 'Company') for the year ended 31 December 2025 which comprise the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity, and the notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" (United Kingdom Generally Accepted Accounting Practice).
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF PWR PACK LTD
The other information comprises the information included in the Annual Report and Financial Statements, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the Annual Report and Financial Statements. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.
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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF PWR PACK LTD
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We obtained a general understanding of the Company’s legal and regulatory framework through enquiry of management concerning their understanding of relevant laws and regulations, the entity’s policies and procedures regarding compliance, and how they identify, evaluate and account for litigation claims. We also drew on our existing understanding of the Company’s industry and regulation.
We understand that the Company complies with the framework through:
∙Updating operating procedures, manuals and internal controls as legal and regulatory requirements change;
∙The Directors’ close involvement in the day-to-day running of the business; meaning that any litigation or claims would come to their attention directly; and
∙Outsourcing of payroll services and the engagement of external experts to achieve ongoing tax compliance and to assist with the preparation of the statutory accounts.
In the context of the audit, we considered those laws and regulations which determine the form and content of the financial statements, which are central to the Company’s ability to conduct its business, and where there is a risk that failure to comply could result in material penalties. We identified the following laws and regulations as being of significance in the context of the Company:
∙The Companies Act 2006 and FRS 102 in respect of the preparation and presentation of the financial statements.
The senior statutory auditor led a discussion with senior members of the engagement team regarding the susceptibility of the entity’s financial statements to material misstatement, including how fraud might occur. The areas identified in this discussion were with regard to the risk of manipulation of the financial statements through manual journals and incorrect recognition of machine revenue. These areas were communicated to other members of the engagement team not present at the discussion.
The procedures we carried out to gain evidence in the above areas included:
∙Identifying and assessing the design and implementation of controls management has in place to prevent and detect fraud;
∙Testing of revenue transactions close to the year end to underlying documentation, including a review of contracts with customers to ensure revenue has been recorded in the correct period; and
∙Testing of journal entries, in particular journal entries selected based on specific risk characteristics to ensure they had a proper business purpose.
A further description of our responsibilities is available on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF PWR PACK LTD
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Chartered Accountants
Statutory Auditor
14th Floor
103 Colmore Row
B3 3AG
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STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2025
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BALANCE SHEET
AS AT 31 DECEMBER 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 12 to 23 form part of these financial statements.
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STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
PWR Pack Ltd is a private company, limited by shares, domiciled and incorporated in Scotland (registered number: SC368382). The registered office address is Suite 37, Grovewood Business Centre, Strathclyde Business Park, Bellshill, Scotland, ML4 3NQ.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
∙the requirements of Section 7 Statement of Cash Flows;
∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
∙the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
∙the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;
∙the requirements of Section 26 Share-based Payment paragraphs 26.18(b), 26.19 to 26.21 and 26.23;
∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.
This information is included in the consolidated financial statements of Packaging with Robots Ltd as at 31 December 2025 and these financial statements may be obtained from Suite 37 Grovewood Business Centre, Strathclyde Business Park, Bellshill, Scotland, ML4 3NQ.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
The directors are required to prepare the statutory financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business. In satisfaction of this responsibility the directors have considered the Company's ability to meet its liabilities as they fall due.
The current and future financial position of the Company, its cash flows and liquidity position have been reviewed by the directors. The directors have prepared financial projections for a period extending to at least 12 months from the date of approval of these financial statements.
The directors are confident that the existing cash balances will provide sufficient headroom to meet forecast cash requirements having considered any additional requirements that would be contingent on an extended downturn in activity over the same period. As such, the directors consider that it is appropriate to prepare the financial statements on the going concern basis.
The current and future financial position of the Company, its cash flows and liquidity position have been reviewed by the directors. The directors have prepared financial projections for a period extending to at least 12 months from the date of approval of these financial statements.
The directors are confident that the existing cash balances will provide sufficient headroom to meet forecast cash requirements having considered any additional requirements that would be contingent on an extended downturn in activity over the same period. As such, the directors consider that it is appropriate to prepare the financial statements on the going concern basis.
Functional and presentation currency
Transactions and balances
Turnover generated from distribution of packaging machines is recognised over the life of the contract based on the stage of completion of each project.
Parts revenue is recognised on shipment and service revenue as the service is delivered.
An element is then recognised in the balance sheet for the revenue to be accrued or deferred on each contract that spans the year end, to allow for any invoicing in advance or arrears.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.
Depreciation is provided on the following basis:
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Financial assets and financial liabilities are recognised in the Balance Sheet when the Company becomes a party to the contractual provisions of the instrument.
Trade and other debtors and creditors are classified as basic financial instruments and measured on initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the Company will not be able to collect all amounts due.
Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank, short-term bank deposits with an original maturity of three months or less and bank overdrafts which are an integral part of the Company’s cash management.
Financial liabilities and equity instruments issued by the Company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities. Equity instruments issued by the Company are recorded at the proceeds received, net of direct issue costs.
Trade and other debtors and creditors are classified as basic financial instruments and measured on initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the Company will not be able to collect all amounts due.
Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank, short-term bank deposits with an original maturity of three months or less and bank overdrafts which are an integral part of the Company’s cash management.
Financial liabilities and equity instruments issued by the Company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities. Equity instruments issued by the Company are recorded at the proceeds received, net of direct issue costs.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Key sources of estimation uncertainty
The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.
Accounting for contracts
Revenue generated from contracts for machines is recognised based on an estimate of the stage of completion of the project build work. This estimate is typically linked to the proportion of budgeted build related labour hours incurred.
An element is then recognised in the balance sheet for the revenue to be accrued or deferred on each contract that spans the year end.
Analysis of turnover by country of destination:
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
HSBC Bank PLC holds a floating charge over all assets and undertakings of the business. As part of a routine periodic review of banking arrangements, in February 2026, the Company satisfied the floating charge over all assets and undertakings of the business held by HSBC Bank PLC.
Subsequently, in February 2026, the Company registered the floating charge held by Santander UK PLC over all assets and undertakings of the business.
At the year end, HSBC Bank PLC has granted guarantees in favour of certain customers for the sum of £2,809,226.
Subsequently, in February 2026, the Company registered the floating charge held by Santander UK PLC over all assets and undertakings of the business.
At the year end, HSBC Bank PLC has granted guarantees in favour of certain customers for the sum of £2,809,226.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Profit and loss account
The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £22,146 (2024 - £24,326). Contributions totalling £7,845 (2024 - £3,976) were payable to the fund at the reporting date.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
The Company's ultimate parent undertaking is Packaging with Robots Ltd, a company registered in Scotland.
The largest and smallest group of undertakings for which group accounts for the year ended 31 December 2025 have been drawn up is that headed by Packaging with Robots Ltd. The registered office address of Packaging with Robots Ltd, is Suite 37 Grovewood Business Centre, Strathclyde Business Park, Bellshill, Scotland, ML4 3NQ. Copies of the group accounts are available from Companies House.
The ultimate controlling party is P Mellon, by virtue of his majority shareholding in Packaging with Robots Ltd.
The largest and smallest group of undertakings for which group accounts for the year ended 31 December 2025 have been drawn up is that headed by Packaging with Robots Ltd. The registered office address of Packaging with Robots Ltd, is Suite 37 Grovewood Business Centre, Strathclyde Business Park, Bellshill, Scotland, ML4 3NQ. Copies of the group accounts are available from Companies House.
The ultimate controlling party is P Mellon, by virtue of his majority shareholding in Packaging with Robots Ltd.
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