Sandland Packaging Limited Company accounts

COMPANY REGISTRATION NUMBER: 02229806

Sandland Packaging Limited

Financial Statements

31 December 2025

Sandland Packaging Limited

Financial Statements

Year ended 31 December 2025

Contents	Pages

Officers and professional advisers	1

Strategic report	2

Directors' report	3 to 4

Independent auditor's report to the members	5 to 8

Statement of income and retained earnings	9

Statement of financial position	10 to 11

Statement of cash flows	12

Notes to the financial statements	13 to 22

Sandland Packaging Limited

Officers and Professional Advisers

The board of directors	Mrs J Hickman
	Mr R Welch
	Mr M Hickman
	Mr A Batha

Registered office	Unit 5, Phoenix Industrial Estate
	Loxdale Street
	Bilston
	West Midlands
	WV14 0PR

Auditor	TC Group
	Statutory Auditor
	3B Swallowfield Courtyard
	Wolverhampton Road
	Oldbury
	West Midlands
	B69 2JG

Sandland Packaging Limited

Strategic Report

Year ended 31 December 2025

Principal activity The principal activity of the Company during the year was the manufacture of Carbon Neutral bespoke cardboard boxes for both end users and merchants Our business is built on the three principles of - Passion - Excellence - Trust Principal risks and uncertainties The principal risks and uncertainties affecting the business include the following: Credit risk - the Company monitors credit risk closely and considers that its current policies of credit checks meets its objectives of mitigation of credit risk. Disaster risk - the Company has adequate insurance, back up procedures and fire alarms in place to mitigate the risk of disaster or fire. The only uncertainties affecting the business currently are the increasing energy costs. Employees The Company is committed to providing training and development to its employees to ensure that they are working within a safe working environment. Environmental matters The company is proud to be carbon neutral, holding ISO 9001 and 14001 quality management certificates. The company also ensures it has minimal impact on the environment by partaking in the One Tree Planted scheme and has a bronze ecovadis sustainability rating.

This report was approved by the board of directors on 14 August 2026 and signed on behalf of the board by:

Mrs J Hickman	Mr M Hickman
Director	Director

Registered office:

Unit 5, Phoenix Industrial Estate

Loxdale Street

Bilston

West Midlands

WV14 0PR

Sandland Packaging Limited

Directors' Report

Year ended 31 December 2025

The directors present their report and the financial statements of the company for the year ended 31 December 2025 .

Directors

The directors who served the company during the year were as follows:

Mrs J Hickman
Mr R Welch
Mr M Hickman
Mr A Batha

Dividends

The directors approved a dividend of £100,000 in respect of the year.

Future developments

The directors believe that there are no significant future developments that will impact the company.

Disclosure of information in the strategic report

The strategic report is set out on page 2 of these financial statements.

Directors' responsibilities statement

The directors are responsible for preparing the strategic report, 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 United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). 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 the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: - select suitable accounting policies 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 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. Auditor

Each of the persons who is a director at the date of approval of this report confirms that:

- so far as they are aware, there is no relevant audit information of which the company's auditor is unaware; and - they have taken all steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information.

This report was approved by the board of directors on 14 August 2026 and signed on behalf of the board by:

Mrs J Hickman	Mr M Hickman
Director	Director

Registered office:

Unit 5, Phoenix Industrial Estate

Loxdale Street

Bilston

West Midlands

WV14 0PR

Sandland Packaging Limited

Independent Auditor's Report to the Members of Sandland Packaging Limited

Year ended 31 December 2025

Opinion

We have audited the financial statements of Sandland Packaging Limited (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 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 our opinion the financial statements: - give a true and fair view of the state of the company's affairs as at 31 December 2025 and of its profit for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

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.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. 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.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

- the information given in the directors’ report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the directors’ report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

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 directors’ report. We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: - adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or - the financial statements are not in agreement with the accounting records and returns; or - certain disclosures of directors’ remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit; or - the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption in preparing the directors’ report and take advantage of the small companies exemption from the requirement to prepare a strategic report.

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

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. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below. Extent to which the audit was considered capable of detecting irregularities, including fraud The objectives of our audit, in respect to fraud, are: to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses; and to respond appropriately to fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and its management. Our approach was as follows: - We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience, and through discussion with the directors and other management (as required by auditing standards), and discussed with the directors and other management the policies and procedures regarding compliance with laws and regulations; - We considered the legal and regulatory frameworks directly applicable to the financial statements reporting framework (FRS 102 and the Companies Act 2006) and the relevant tax compliance regulations in the UK; - We considered the nature of the industry, the control environment and business performance, including the key drivers for management’s remuneration; - We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit; - We considered the procedures and controls that the company has established to address risks identified, or that otherwise prevent, deter and detect fraud; and how senior management monitors those programmes and controls. Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations. Where the risk was considered to be higher, we performed audit procedures to address each identified fraud risk. These procedures included: testing manual journals; reviewing the financial statement disclosures and testing to supporting documentation; performing analytical procedures; and enquiring of management, and were designed to provide reasonable assurance that the financial statements were free from fraud or error. Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations. 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. Use of our report

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.

Hannah Justice FCA FCCA

(Senior Statutory Auditor)

For and on behalf of

TC Group

Statutory Auditor

3B Swallowfield Courtyard

Wolverhampton Road

Oldbury

West Midlands

B69 2JG

14 August 2026

Sandland Packaging Limited

Statement of Income and Retained Earnings

Year ended 31 December 2025

		2025	2024
Note		£	£
Turnover	4	10,875,459	9,513,385

Cost of sales	8,069,228	6,812,426
	-------------	------------
Gross profit	2,806,231	2,700,959

Distribution costs		474,761	356,222
Administrative expenses		2,178,761	1,899,508
		------------	------------
Operating profit	5	152,709	445,229

Interest payable and similar expenses	8	103,523	107,449
		------------	------------
Profit before taxation		49,186	337,780

Tax on profit	9	44,024	62,889
		--------	---------
Profit for the financial year and total comprehensive income		5,162	274,891
		--------	---------

Dividends paid and payable	10	( 100,000)	–

Retained earnings at the start of the year	6,564,217	6,289,326
	------------	------------
Retained earnings at the end of the year	6,469,379	6,564,217
	------------	------------

All the activities of the company are from continuing operations.

Sandland Packaging Limited

Statement of Financial Position

31 December 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	12		1,015,737	1,137,793

Current assets

Stocks	13	454,476	399,612
Debtors	14	8,323,202	7,887,420
Cash at bank and in hand		84,128	79,474
		------------	------------
		8,861,806	8,366,506

Creditors: amounts falling due within one year	15	3,129,560		2,626,702
		------------		------------
Net current assets			5,732,246	5,739,804
			------------	------------
Total assets less current liabilities			6,747,983	6,877,597

Creditors: amounts falling due after more than one year	16		70,698	82,140

Provisions

Taxation including deferred tax	18	206,906	230,240
		------------	------------
Net assets		6,470,379	6,565,217
		------------	------------

Sandland Packaging Limited

Statement of Financial Position (continued)

31 December 2025

	2025		2024
Note	£	£	£

Capital and reserves

Called up share capital	22	1,000	1,000
Profit and loss account	23	6,469,379	6,564,217
		------------	------------
Shareholders funds		6,470,379	6,565,217
		------------	------------

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the medium companies regime.

These financial statements were approved by the board of directors and authorised for issue on 14 August 2026 , and are signed on behalf of the board by:

Mrs J Hickman	Mr M Hickman
Director	Director

Company registration number: 02229806

Sandland Packaging Limited

Statement of Cash Flows

Year ended 31 December 2025

	2025	2024
	£	£

Cash flows from operating activities

Profit for the financial year	5,162	274,891

Adjustments for:
Depreciation of tangible assets	292,137	278,025
Interest payable and similar expenses	103,523	107,449
Loss/(gains) on disposal of tangible assets	15,354	( 7,277)
Tax on profit	44,024	62,889
Accrued expenses	36,010	–

Changes in:
Stocks	( 54,864)	31,576
Trade and other debtors	( 435,782)	( 375,469)
Trade and other creditors	231,988	203,301
	---------	---------
Cash generated from operations	237,552	575,385

Interest paid	( 103,523)	( 107,449)
Tax paid	( 105,905)	( 80,807)
	---------	---------
Net cash from operating activities	28,124	387,129
	---------	---------

Cash flows from investing activities

Purchase of tangible assets	( 211,939)	( 354,465)
Proceeds from sale of tangible assets	26,504	–
	---------	---------
Net cash used in investing activities	( 185,435)	( 354,465)
	---------	---------

Cash flows from financing activities

Proceeds from borrowings	365,980	–
Repayments of borrowings	–	( 16,667)
Payments of finance lease liabilities	( 104,015)	( 71,135)
Dividends paid	( 100,000)	–
	---------	---------
Net cash from/(used in) financing activities	161,965	( 87,802)
	---------	---------

Net increase/(decrease) in cash and cash equivalents	4,654	( 55,138)
Cash and cash equivalents at beginning of year	79,474	134,612
	--------	---------
Cash and cash equivalents at end of year	84,128	79,474
	--------	---------

Sandland Packaging Limited

Notes to the Financial Statements

Year ended 31 December 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 5, Phoenix Industrial Estate, Loxdale Street, Bilston, West Midlands, WV14 0PR.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are those relating to the absorption of labour and overheads into the valuation of stock. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year relate to the estimated useful lives of tangible fixed assets.

Revenue recognition

Turnover represents sales of goods net of VAT and trade discounts. Turnover is recognised when the goods are physically delivered to the customer.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	20% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Leasehold property	-	15% straight line
Plant & Machinery	-	10% to 15% straight line
Fixtures and fittings	-	15% straight line
Motor vehicles	-	25% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stock is valued at the lower of cost and net realisable value. Cost is determined on an average cost basis. Net realisable value represents estimated selling price less costs to complete and sell. Provision is made for slow moving, obsolete or damaged stock where the net realisable value is less than cost.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Turnover

Turnover arises from:

	2025	2024
	£	£
Sale of goods	10,875,459	9,513,385
	-------------	------------

The whole of the turnover is attributable to the principal activity of the company wholly undertaken in the United Kingdom.

5. Operating profit

Operating profit or loss is stated after charging/crediting:

	2025	2024
	£	£
Depreciation of tangible assets	292,137	278,025
Loss/(gains) on disposal of tangible assets	15,354	( 7,277)
Impairment of trade debtors	10,403	6,000
	---------	---------

6. Staff costs

The average number of persons employed by the company during the year, including the directors, amounted to:

	2025	2024
	No.	No.
Production staff	63	63
Administrative staff	18	17
	----	----
	81	80
	----	----

The aggregate payroll costs incurred during the year, relating to the above, were:

	2025	2024
	£	£
Wages and salaries	2,574,191	2,333,209
Social security costs	287,175	221,769
Pension costs	46,890	45,680
	------------	------------
	2,908,256	2,600,658
	------------	------------

7. Directors' remuneration

The directors' aggregate remuneration in respect of qualifying services was:

	2025	2024
	£	£
Remuneration	265,433	252,670
Company contributions to defined contribution pension plans	3,963	3,963
	---------	---------
	269,396	256,633
	---------	---------

The number of directors who accrued benefits under company pension plans was as follows:

	2025	2024
	No.	No.
Defined contribution plans	3	3
	----	----

Remuneration of the highest paid director in respect of qualifying services:

	2025	2024
	£	£
Aggregate remuneration	89,673	84,553
Company contributions to defined contribution pension plans	1,321	1,321
	--------	--------
	90,994	85,874
	--------	--------

8. Interest payable and similar expenses

	2025	2024
	£	£
Interest on banks loans and overdrafts	508	925
Interest on obligations under finance leases and hire purchase contracts	14,721	15,731
Other interest payable and similar charges	88,294	90,793
	---------	---------
	103,523	107,449
	---------	---------

9. Tax on profit

Major components of tax expense

	2025	2024
	£	£

Current tax:

UK current tax expense	39,822	75,170
Adjustments in respect of prior periods	27,536	( 15,218)
	--------	--------
Total current tax	67,358	59,952
	--------	--------

Deferred tax:

Origination and reversal of timing differences	( 23,334)	2,937
	--------	--------
Tax on profit	44,024	62,889
	--------	--------

Reconciliation of tax expense

The tax assessed on the profit on ordinary activities for the year is higher than (2024: lower than) the standard rate of corporation tax in the UK of 25 % (2024: 25 %).

	2025	2024
	£	£
Profit on ordinary activities before taxation	49,186	337,780
	--------	---------
Profit on ordinary activities by rate of tax	12,297	84,445
Adjustment to tax charge in respect of prior periods	27,536	(15,212)
Effect of expenses not deductible for tax purposes	8,690	5,056
Utilisation of tax losses	( 4,499)	( 11,400)
	--------	---------
Tax on profit	44,024	62,889
	--------	---------

10. Dividends

	2025	2024
	£	£
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year )	100,000	–
	---------	----

11. Intangible assets

	Goodwill
	£
Cost
At 1 January 2025 and 31 December 2025	220,488
	---------
Amortisation
At 1 January 2025 and 31 December 2025	220,488
	---------
Carrying amount
At 31 December 2025	–
	---------
At 31 December 2024	–
	---------

12. Tangible assets

	Land and buildings	Plant and machinery	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£	£
Cost
At 1 January 2025	225,503	2,873,356	60,177	570,998	3,730,034
Additions	22,668	162,760	7,021	19,490	211,939
Disposals	–	( 16,500)	–	( 64,398)	( 80,898)
	---------	------------	--------	---------	------------
At 31 December 2025	248,171	3,019,616	67,198	526,090	3,861,075
	---------	------------	--------	---------	------------
Depreciation
At 1 January 2025	135,198	1,981,146	53,482	422,415	2,592,241
Charge for the year	20,351	219,890	1,945	49,951	292,137
Disposals	–	( 5,156)	–	( 33,884)	( 39,040)
	---------	------------	--------	---------	------------
At 31 December 2025	155,549	2,195,880	55,427	438,482	2,845,338
	---------	------------	--------	---------	------------
Carrying amount
At 31 December 2025	92,622	823,736	11,771	87,608	1,015,737
	---------	------------	--------	---------	------------
At 31 December 2024	90,305	892,210	6,695	148,583	1,137,793
	---------	------------	--------	---------	------------

Finance leases and hire purchase contracts

Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:

	Plant and machinery	Motor vehicles	Total
	£	£	£
At 31 December 2025	145,481	25,430	170,911
	---------	--------	---------
At 31 December 2024	251,655	62,626	314,281
	---------	--------	---------

13. Stocks

	2025	2024
	£	£
Raw materials and consumables	454,476	399,612
	---------	---------

14. Debtors

	2025	2024
	£	£
Trade debtors	2,221,757	1,770,034
Amounts owed by group undertakings	6,041,479	6,059,080
Other debtors	59,966	58,306
	------------	------------
	8,323,202	7,887,420
	------------	------------

The debtors above include the following amounts falling due after more than one year:

	2025	2024
	£	£
Amounts owed by group undertakings	6,041,479	6,059,080
	------------	------------

15. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	1,339,543	978,431
Trade creditors	1,353,504	1,205,910
Accruals and deferred income	112,962	76,952
Corporation tax	36,623	75,170
Social security and other taxes	257,773	173,586
Obligations under finance leases and hire purchase contracts	20,366	112,939
Director loan accounts	8,468	3,600
Other creditors	321	114
	------------	------------
	3,129,560	2,626,702
	------------	------------

Hire purchase obligations are secured against the specific assets they finance and carry interest at varying rates. Overdrafts and loans are secured by debenture over the company's assets.

The invoice discounting facility is secured by a fixed charge over the assets of the Company.

16. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Obligations under finance leases and hire purchase contracts	70,698	82,140
	--------	--------

Hire purchase obligations are secured against the specific assets they finance and carry interest at varying rates.

There is a fixed charge registered in the name of Sandland Packaging Limited , secured over the assets of Sandland Packaging Limited , that relates to the ultimate parent company.

17. Finance leases and hire purchase contracts

The total future minimum lease payments under finance leases and hire purchase contracts are as follows:

	2025	2024
	£	£
Not later than 1 year	20,366	112,939
Later than 1 year and not later than 5 years	70,698	82,140
	--------	---------
	91,064	195,079
	--------	---------

18. Provisions

	Deferred tax (note 19)
	£
At 1 January 2025	230,240
Additions	( 23,334)
	---------
At 31 December 2025	206,906
	---------

19. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2025	2024
	£	£
Included in provisions (note 18)	206,906	230,240
	---------	---------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2025	2024
	£	£
Accelerated capital allowances	206,906	230,240
	---------	---------

20. Employee benefits

Defined contribution plans

The amount recognised in profit or loss as an expense in relation to defined contribution plans was £ 46,890 (2024: £ 45,680 ).

21. Financial instruments

Financial assets recognised at amortised cost compromise cash at bank, trade and other debtors and amounted to £2,314,258 (2024 - £1,850,745). Financial liabilities recognised at amortised cost compromise bank loans and overdrafts, trade creditors, hire purchase liabilities and other creditors and amounted to £2,792,900 (2024 - £2,383,134).

22. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	1,000	1,000	1,000	1,000
	-------	-------	-------	-------

23. Reserves

Profit and loss account - This reserve records retained earnings and accumulated losses.

24. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2025	2024
	£	£
Not later than 1 year	291,004	129,996
Later than 1 year and not later than 5 years	1,164,000	–
Later than 5 years	416,667	–
	------------	---------
	1,871,671	129,996
	------------	---------

25. Related party transactions

During the year the company was invoiced for consultancy services of £65,522 (2024: £50,530) by Mr R Welch , a director of the company. At the balance sheet date £8,590 was due to Mr R Welch (2024: £3,600). The company also received consultancy services of £90,363 (2024: £90,000) and had an outstanding trade creditor balance of £Nil (2024: £Nil) to GIL Investments Limited, a shareholder of Sandland Packaging Holdings Limited, the ultimate parent company.

26. Controlling party

The company's parent undertaking is Sandland Packaging Group Limited, a company incorporated in England and Wales. The ultimate parent undertaking is Sandland Packaging Holdings Limited, a company incorporated in England and Wales.