Tri-Pack Packaging Systems Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 01146130 (England and Wales)

Financial Statements for the Year Ended 31 December 2025

for

Tri-Pack Packaging Systems Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

H W Clarke

J W Clarke

S W Clarke

REGISTERED OFFICE:

Estate Road No.1

South Humberside Industrial Estate

Grimsby

DN31 2TB

REGISTERED NUMBER:

01146130 (England and Wales)

AUDITORS:

Xeinadin Audit Limited

Maple House

Level 5A

149 Tottenham Court Road

London

W1T 7NF

FIXED ASSETS

Tangible assets

4

2,359,827

2,550,387

Investments

5

2

2,359,829

2,550,389

CURRENT ASSETS

Stocks

658,341

668,720

Debtors

6

1,021,597

1,138,924

Cash at bank and in hand

1,216,793

1,473,716

2,896,731

3,281,360

CREDITORS

Amounts falling due within one year

7

1,588,135

2,170,254

NET CURRENT ASSETS

1,308,596

1,111,106

TOTAL ASSETS LESS CURRENT
LIABILITIES

3,668,425

3,661,495

CREDITORS

Amounts falling due after more than one year

8

(1,603,017

)

(1,750,463

)

PROVISIONS FOR LIABILITIES

(40,965

)

(156,050

)

NET ASSETS

2,024,443

1,754,982

CAPITAL AND RESERVES

Called up share capital

4,240

Share premium

11

327,156

Revaluation reserve

11

992,237

Other reserves

11

1,000

Retained earnings

11

699,810

430,349

2,024,443

1,754,982

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 15 June 2026 and were signed on its behalf by:

H W Clarke - Director

1.	STATUTORY INFORMATION

Tri-Pack Packaging Systems 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 as modified by the revaluation of certain assets.

Turnover

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

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.

Land and buildings

-

2% on cost

Plant and machinery etc

-

25% on cost and at varying rates on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items.

Stocks are valued on a first in first out basis.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its assets.

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 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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

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.

Hire purchase and leasing commitments

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

Assets acquired or held under hire purchase agreement which confer rights and obligations similiar to those of owned assets are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of future payments is treated as a liability and the interest is charged to the profit and loss account on a straight line basis.

Where the company enters into a lease which entails taking substantially all the risks ad rewards of ownership of an asset, the lease is treated as a finance lease. The asset is recorded in the balance sheet as a tangible fixed asset and is not depreciated in accordance with the above deprecation policies. Future instalments under such element, which is charged to the profit and loss account on a straight line basis, and the capital element which reduces the outstanding obligation for future instalments.

Rentals applicable to operating leases where substantially all of the benefits and risk of ownership remain with the lessor are charged profits 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 40 (2024 - 39 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

COST OR VALUATION

At 1 January 2025

2,434,642

3,138,691

5,573,333

Additions

-

57,339

Disposals

-

(70,994

)

(70,994

)

At 31 December 2025

2,434,642

3,125,036

5,559,678

DEPRECIATION

At 1 January 2025

583,480

2,439,466

3,022,946

Charge for year

52,249

174,945

227,194

Eliminated on disposal

-

(50,288

)

(50,288

)

Transfer to ownership

-

(1

)

(1

)

At 31 December 2025

635,729

2,564,122

3,199,851

NET BOOK VALUE

At 31 December 2025

1,798,913

560,914

2,359,827

At 31 December 2024

1,851,162

699,225

2,550,387

The net book value of assets held under hire purchase agreements at 31st December 2025 was £130,725 (2024 - £223,517). Depreciation charged on those assets during the year amounted to £17,430 (2024 - £26,464).

Cost or valuation at 31 December 2025 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

Valuation in 2004

91,157

-

91,157

Valuation in 2015

132,934

-

132,934

Valuation in 2021

723,025

-

723,025

Cost

1,487,526

3,125,036

4,612,562

2,434,642

3,125,036

5,559,678

If freehold property had not been revalued it would have been included at the following historic cost.

31.12.23

31.12.24

£

Cost

1,487,526

Aggregate depreciation

531,231

448,254

Net book value of land and buildings

956,295

1,039,272

Freehold land and buildings were valued on an open market basis on 30 November 2021 by Clarke Weightman.

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 January 2025

302,392

Transfer to ownership

(128,092

)

At 31 December 2025

174,300

DEPRECIATION

At 1 January 2025

78,875

Charge for year

17,430

Transfer to ownership

(52,730

)

At 31 December 2025

43,575

NET BOOK VALUE

At 31 December 2025

130,725

At 31 December 2024

223,517

5.	FIXED ASSET INVESTMENTS

Shares in

group

Other

undertakings

investments

Totals

£

COST

At 1 January 2025

and 31 December 2025

1

2

NET BOOK VALUE

At 31 December 2025

1

2

At 31 December 2024

1

2

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

Trade debtors

584,696

941,260

Other debtors

436,901

197,664

1,021,597

1,138,924

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

Bank loans and overdrafts

98,000

134,935

Hire purchase contracts (see note 9)

23,100

38,355

Trade creditors

783,825

798,534

Amounts owed to associates

1

Taxation and social security

434,701

640,362

Other creditors

248,508

558,067

1,588,135

2,170,254

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.12.25

31.12.24

£

Bank loans

1,574,135

1,642,445

Hire purchase contracts (see note 9)

24,471

102,899

Other creditors

4,411

5,119

1,603,017

1,750,463

Amounts falling due in more than five years:

Repayable by instalments

Bank loans

1,117,135

1,185,445

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

31.12.25

31.12.24

£

Net obligations repayable:

Within one year

23,100

38,355

Between one and five years

24,471

102,899

47,571

141,254

Non-cancellable

operating leases

31.12.25

31.12.24

£

Within one year

-

4,722

Between one and five years

-

7,776

In more than five years

-

714

-

13,212

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.25

31.12.24

£

Bank loans

1,672,135

1,777,380

Hire purchase contracts

47,571

141,254

1,719,706

1,918,634

The bank loan and overdraft are secured by means of a 1st legal charge over the freehold property, and a debenture from the company.

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

11.

RESERVES

Retained

Share

Revaluation

Other

earnings

premium

reserve

reserves

Totals

£

At 1 January 2025

430,349

327,156

992,237

1,000

1,750,742

Profit for the year

374,461

Dividends

(105,000

)

(105,000

)

At 31 December 2025

699,810

327,156

992,237

1,000

2,020,203

During the year the company completed a share buyback, which reduced the share capital to 4,240 £1 shares. The total consideration paid for the buyback was £2,141,765 in accordance with the agreement.

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

The Report of the Auditors was unqualified.

Jennifer Toulson FCA (Senior Statutory Auditor)

for and on behalf of Xeinadin Audit Limited

13.	PENSION COMMITMENTS

The company operates two defined contribution pension schemes. The assets of the schemes are held separately from those of the company in independently administered funds. The pension cost charge represents contributions payable by the company to the funds and amounted to £68,130 (2024 - £87,318). Contributions amounting to £13,038 (2024 - £12,052) were outstanding at the end of the period.

14.	RELATED PARTY DISCLOSURES

31.12.25

31.12.24

£

Sales to related parties

-

298,346

Amounts owing to related parties

10,042

70,865

Amounts owing from related parties

-

250,000

Related parties are companies that have a controlling interest and/or one of the directors is also a director or has a controlling interest.