Allpack Packaging Limited Company accounts

COMPANY REGISTRATION NUMBER: 08431220

Allpack Packaging Limited

Financial Statements

31 December 2025

Allpack Packaging Limited

Financial Statements

Year ended 31 December 2025

Contents	Page

Officers and professional advisers	1

Strategic report	2

Directors' report	4

Independent auditor's report to the members	6

Income statement	10

Statement of financial position	11

Statement of changes in equity	12

Statement of cash flows	13

Notes to the financial statements	14

Allpack Packaging Limited

Officers and Professional Advisers

The board of directors	Mr G Clarke
	Mr M Clarke
	Mr R Clarke

Company secretary	Mrs Pollyanna Clarke

Registered office	Somerville House Blakeney Way
	Kingswood Lakeside
	Cannock
	England
	Engald
	WS11 8LD

Auditor	Riverside Accountancy Lancaster Limited
	Chartered accountants & statutory auditor
	Suite 2, 2 Mannin Way
	Lancaster Business Park
	Caton Road
	Lancaster
	LA1 3SU

Allpack Packaging Limited

Strategic Report

Year ended 31 December 2025

History and Family Value We have traded since 1994 with successful growth year on year. We're still family owned and run and have a strong sense of our core values running through the entire organization but are also now large enough to be a strong player in the National, European and Global packaging markets.

Principal Risks Key risks facing the business are external factors such as global supply chains and shipping lanes. We mitigate these risks by strong stock control, high stock levels, and bringing a sourcing and manufacturing closer to our headquarters. Another risk is the global economy and our customer base struggling financially. We mitigate this risk by very strong financial controls, credit insurance, continuous debt management. Our strong financial balance sheet and ratios put these risks to a very low level for our company.

Research and Development Allpack is continually striving to create products and services that add real value to our partners and to the planet. Our in-house R&D team are continually investing in the future of Allpack's sphere of influence.

Corporate Social Responsibility The directors believe that the long-term interests of the company, its employees, its customers, and all of the stakeholders are best served by acting in a corporate social manner. Therefore, the company ensures that high standards are maintained in everything that we do. Allpack's continuous drive to 'not cost the earth' and to be sustainable in all products and services is borne out by our recent 'carbon neutral certification' achievement.

Environment and Quality The directors of Allpack continue to believe in the company's core founding principles. Quality products, quality service, and quality people are what make a true difference to how we serve our customers. Similarly, and in line with our CSR commitments, we challenge everything we do through the lens of how it impacts on the environment around us. From manufacturing processes, to transport, to efficient infrastructures including a focus on switching to electric vehicles as our fleet is renewed.

Financial Our strong balance sheet and financial ratios are testament to a well-run and established company. We're continually building on this for future generations that will rely on Allpack. Our People The ongoing success of Allpack is due to our greatest asset, our people. We continue to build a strong team of dedicated professionals who live by our core values and commit to serving our customers' needs to the highest level. Ongoing training is continuous, and we strive to upskill and cross train in as many areas as possible. A structured organisational chart and a strong senior leadership team enable the company to run effectively even when directors are not present. We remain committed to equality and offer equal opportunities without reference to age, ethnicity, gender, sexual orientation, religion, or disability and we are opposed to all forms of discrimination. We have company policies to support these undertakings. I use this opportunity to extend my sincere thanks to all of our staff for their continued dedication and commitment to the company. The directors acknowledge that it is our employees that always have and continue to significantly contribute to the continued success of our business.

Other Stakeholders We also recognise there are other important stakeholders beyond the immediate owners, staff, and customers. We strive to be a company of choice for supply partners, manufacturing partners, local and regional communities, and even charities that we support to have enjoyable interactions with. Going Concern and The Future The board of directors are required to consider the company's ability to continue trading. The board are more than confident that the company can continue to trade successfully for many more years to come. Our strong order book, strong balance sheet, strong liquidity, and consistent profits enable the company to have a bright future.

This report was approved by the board of directors on 31 March 2026 and signed on behalf of the board by:

Mr G Clarke

Director

Registered office:

Somerville House Blakeney Way

Kingswood Lakeside

Cannock

England

Engald

WS11 8LD

Allpack 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:

Mr G Clarke
Mr M Clarke
Mr R Clarke

Dividends

Particulars of recommended dividends are detailed in note 13 to the 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 31 March 2026 and signed on behalf of the board by:

Mr G Clarke

Director

Registered office:

Somerville House Blakeney Way

Kingswood Lakeside

Cannock

England

Engald

WS11 8LD

Allpack Packaging Limited

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

Year ended 31 December 2025

Opinion

We have audited the financial statements of Allpack Packaging Limited (the 'company') for the year ended 31 December 2025 which comprise the income statement, statement of financial position, statement of changes in equity, statement of cash flows and the related notes, including a summary of 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; - 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

We would like to draw the readers attention to amounts included within Debtors which are due from connected companies.

We have some concern over the recoverability of debts totalling £1,341,230

Should these debts become irrecoverable, the write off of these loans, although material, would not cause concern of the company's ability to continue as a going concern.

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. 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. In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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 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.

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 strategic report or the directors' report. We have nothing to report in respect of the following matters in relation to which 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' exemptions in preparing the directors' report and 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. 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: - Review of directors minutes and review of nominal postings for legal and professional fees ensured we identified any regulatory compliance issues and laws that company must follow in the year and to the date of signing the financial statements. - The assessment of fraud was consider as low due to the segregation of duties seen, the low levels of cash handled and the regular reporting requirements to the members. A review of journal entries and consideration of their appropriateness was carried out through the audit. - During the audit we speak to management, test the systems and speak to various members of the finance function to understand the entity its processes and the nature of trade to assist in determining if the financial statements are true and fair. - Challenging assumptions made by management in making their significant accounting estimates. - Reviewing financial statement disclosure and testing to supporting documentation to assess compliance with applicable laws and regulations. - Tangible assets are reviewed for impairment and recoverability in line with policy. Ownership details are obtained for verification. As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also: - Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. - Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control. - Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors. - Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the company to cease to continue as a going concern. - Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. 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.

Penelope Bowden ACA

(Senior Statutory Auditor)

For and on behalf of

Riverside Accountancy Lancaster Limited

Chartered accountants & statutory auditor

Suite 2, 2 Mannin Way

Lancaster Business Park

Caton Road

Lancaster

LA1 3SU

31 March 2026

Allpack Packaging Limited

Income Statement

Year ended 31 December 2025

		2025	2024
			(restated)
Note		£	£
Turnover	4	39,139,882	33,889,788

Cost of sales	27,402,174	22,422,468
	-------------	-------------
Gross profit	11,737,708	11,467,320

Distribution costs		28,360	20,769
Administrative expenses		9,582,130	9,014,655
Other operating income	5	–	692
		-------------	-------------
Operating profit	6	2,127,218	2,432,588

Other interest receivable and similar income	10	87,862	92,648
Interest payable and similar expenses	11	42,055	29,001
		-------------	-------------
Profit before taxation		2,173,025	2,496,235

Tax on profit	12	510,256	442,453
		------------	------------
Profit for the financial year		1,662,769	2,053,782
		------------	------------

All the activities of the company are from continuing operations.

The company has no other recognised items of income and expenses other than the results for the year as set out above.

Allpack Packaging Limited

Statement of Financial Position

31 December 2025

	2025	2024
		(restated)
Note	£	£

Fixed assets

Intangible assets	14	977,179	1,472,950
Tangible assets	15	610,936	685,995
		------------	------------
		1,588,115	2,158,945

Current assets

Stocks	16	3,044,367	3,139,466
Debtors	17	19,773,114	14,573,654
Cash at bank and in hand		2,059,708	2,333,382
		-------------	-------------
		24,877,189	20,046,502

Creditors: amounts falling due within one year	18	8,104,207	5,055,478
		-------------	-------------
Net current assets		16,772,982	14,991,024
		-------------	-------------
Total assets less current liabilities		18,361,097	17,149,969

Creditors: amounts falling due after more than one year	19	38,961	80,167

Provisions	21	41,753	30,958
		-------------	-------------
Net assets		18,280,383	17,038,844
		-------------	-------------

Capital and reserves

Called up share capital	25	14,000,220	14,000,110
Share premium account	26	599,990	599,990
Profit and loss account	26	3,680,173	2,438,744
		-------------	-------------
Shareholders funds		18,280,383	17,038,844
		-------------	-------------

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 31 March 2026 , and are signed on behalf of the board by:

Mr G Clarke

Director

Company registration number: 08431220

Allpack Packaging Limited

Statement of Changes in Equity

Year ended 31 December 2025

		Called up share capital	Share premium account	Profit and loss account	Total
		£	£	£	£
At 1 January 2024		110	599,990	903,256	1,503,356

Profit for the year				2,053,782	2,053,782
		----	---------	------------	------------
Total comprehensive income for the year		–	–	2,053,782	2,053,782

Issue of shares		14,000,000	–	–	14,000,000
Dividends paid and payable	13	–	–	( 518,294)	( 518,294)
		-------------	---------	------------	-------------
Total investments by and distributions to owners		14,000,000	–	( 518,294)	13,481,706

At 31 December 2024		14,000,110	599,990	2,438,744	17,038,844

Profit for the year				1,662,769	1,662,769
		-------------	---------	------------	-------------
Total comprehensive income for the year		–	–	1,662,769	1,662,769

Issue of shares		110	–	–	110
Dividends paid and payable	13	–	–	( 421,340)	( 421,340)
		----	----	---------	---------
Total investments by and distributions to owners		110	–	( 421,340)	( 421,230)

		-------------	---------	------------	-------------
At 31 December 2025		14,000,220	599,990	3,680,173	18,280,383
		-------------	---------	------------	-------------

Allpack Packaging Limited

Statement of Cash Flows

Year ended 31 December 2025

	2025	2024
		(restated)
	£	£

Cash flows from operating activities

Profit for the financial year	1,662,769	2,053,782

Adjustments for:
Depreciation of tangible assets	210,387	205,462
Amortisation of intangible assets	495,771	495,771
Other interest receivable and similar income	(87,862)	(92,648)
Interest payable and similar expenses	42,055	29,001
(Gains)/loss on disposal of tangible assets	( 6,404)	55,317
Tax on profit	510,256	442,453
Accrued expenses	198,318	332,725

Changes in:
Stocks	95,099	119,313
Trade and other debtors	( 5,199,460)	( 2,822,810)
Trade and other creditors	3,552,397	676,148
	------------	------------
Cash generated from operations	1,473,326	1,494,514

Interest paid	( 42,055)	( 29,001)
Interest received	87,862	92,648
Tax paid	( 984,275)	( 660,331)
	------------	------------
Net cash from operating activities	534,858	897,830
	------------	------------

Cash flows from investing activities

Purchase of tangible assets	( 149,720)	( 268,855)
Proceeds from sale of tangible assets	20,796	899,618
	------------	------------
Net cash (used in)/from investing activities	( 128,924)	630,763
	------------	------------

Cash flows from financing activities

Proceeds from issue of ordinary shares	110	14,000,000
Proceeds from borrowings	( 150,840)	37,106
Proceeds from loans from group undertakings	–	( 14,863,954)
Payments of finance lease liabilities	( 107,538)	( 65,850)
Dividends paid	( 421,340)	( 518,294)
	------------	-------------
Net cash used in financing activities	( 679,608)	( 1,410,992)
	------------	-------------

Net (decrease)/increase in cash and cash equivalents	( 273,674)	117,601
Cash and cash equivalents at beginning of year	2,333,382	2,215,781
	------------	------------
Cash and cash equivalents at end of year	2,059,708	2,333,382
	------------	------------

Allpack 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 Somerville House Blakeney Way, Kingswood Lakeside, Cannock, England, WS11 8LD, Engald.

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. The financial statements have been rounded to the nearest pound.

Going concern

The Auditors have drawn attention in their notes in the audit report to some doubt about the company continuing as a going concern. This is in relation to a connected party loan where the directors of the company also have control. Notwithstanding this, if the debts referred to in the Auditor's report were not recoverable, the Directors believe that the company would still be a going concern.

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. Significant judgements 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 as follows: Useful economic life of tangible assets: the annual depreciation charge is sensitive to changes in the estimated economic lives and residual value of tangible fixed assets. Management re-assess these annually and amend them where necessary to reflect current estimates. 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 are as follows: Impairment of debtors: When assessing the recoverability of debtors, management consider the type of business and past recoverability Stock provisions are determined as and when required, this can be related to slow moving and also reduced pricing of goods sold post the year end .

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.

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.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

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.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

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	-	Over the economic life of the asset
Patents, trademarks and licences	-	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. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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:

Plant and machinery	-	25% reducing balance
Fixtures and fittings	-	25% reducing balance
Motor vehicles	-	25% reducing balance
Equipment	-	25% reducing balance

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

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

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. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. 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
		(restated)
	£	£
Sale of goods	38,831,350	33,841,908
Rendering of services	308,532	47,880
	-------------	-------------
	39,139,882	33,889,788
	-------------	-------------

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

5. Other operating income

	2025	2024
		(restated)
	£	£
Other operating income	–	692
	----	----

6. Operating profit

Operating profit or loss is stated after charging/crediting:

	2025	2024
		(restated)
	£	£
Amortisation of intangible assets	495,771	495,771
Depreciation of tangible assets	210,387	205,462
(Gains)/loss on disposal of tangible assets	( 6,404)	55,317
Impairment of trade debtors	28,634	148,563
Foreign exchange differences	92,986	86,150
	---------	---------

7. Auditor's remuneration

	2025	2024
		(restated)
	£	£
Fees payable for the audit of the financial statements	12,520	10,400
	--------	--------

8. Staff costs

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

	2025	2024
	No.	No.
Number of staff	78	79
	----	----

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

	2025	2024
		(restated)
	£	£
Wages and salaries	3,844,674	3,650,590
Social security costs	414,595	342,837
Other pension costs	64,566	51,455
	------------	------------
	4,323,835	4,044,882
	------------	------------

9. Directors' remuneration

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

	2025	2024
		(restated)
	£	£
Remuneration	75,420	75,420
	--------	--------

10. Other interest receivable and similar income

	2025	2024
		(restated)
	£	£
Interest on cash and cash equivalents	87,862	91,748
Interest receivable - desc in a/cs	–	900
	--------	--------
	87,862	92,648
	--------	--------

11. Interest payable and similar expenses

	2025	2024
		(restated)
	£	£
Interest on obligations under finance leases and hire purchase contracts	21,143	20,870
Other interest payable and similar charges	20,912	8,131
	--------	--------
	42,055	29,001
	--------	--------

12. Tax on profit

Major components of tax expense

	2025	2024
		(restated)
	£	£

Current tax:

UK current tax expense	499,461	568,379

Deferred tax:

Origination and reversal of timing differences	10,795	( 125,926)
	---------	---------
Tax on profit	510,256	442,453
	---------	---------

Reconciliation of tax expense

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

	2025	2024
		(restated)
	£	£
Profit on ordinary activities before taxation	2,173,025	2,496,235
	------------	------------
Profit on ordinary activities by rate of tax	543,256	661,769
Adjustment to tax charge in respect of prior periods	( 37,710)	( 70,567)
Effect of expenses not deductible for tax purposes	4,457	24,220
Effect of capital allowances and depreciation	( 10,542)	( 47,043)
Effect of different UK tax rates on some earnings	10,795	(125,926)
	------------	------------
Tax on profit	510,256	442,453
	------------	------------

13. Dividends

	2025	2024
		(restated)
	£	£
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year )	421,340	518,294
	---------	---------

14. Intangible assets

	Goodwill	Patents, trademarks and licences	Total
	£	£	£
Cost
At 1 January 2025 (as restated) and 31 December 2025	452,349	2,478,853	2,931,202
	---------	------------	------------
Amortisation
At 1 January 2025	452,349	1,005,903	1,458,252
Charge for the year	–	495,771	495,771
	---------	------------	------------
At 31 December 2025	452,349	1,501,674	1,954,023
	---------	------------	------------
Carrying amount
At 31 December 2025	–	977,179	977,179
	---------	------------	------------
At 31 December 2024	–	1,472,950	1,472,950
	---------	------------	------------

15. Tangible assets

	Plant and machinery	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£	£
Cost
At 1 January 2025 (as restated)	96,068	897,855	455,196	34,229	1,483,348
Additions	23,925	85,625	5,000	35,170	149,720
Disposals	–	–	( 67,997)	( 1,795)	( 69,792)
	---------	---------	---------	--------	------------
At 31 December 2025	119,993	983,480	392,199	67,604	1,563,276
	---------	---------	---------	--------	------------
Depreciation
At 1 January 2025	49,073	451,565	293,630	3,085	797,353
Charge for the year	17,027	137,440	46,075	9,845	210,387
Disposals	–	–	( 55,363)	( 37)	( 55,400)
	---------	---------	---------	--------	------------
At 31 December 2025	66,100	589,005	284,342	12,893	952,340
	---------	---------	---------	--------	------------
Carrying amount
At 31 December 2025	53,893	394,475	107,857	54,711	610,936
	---------	---------	---------	--------	------------
At 31 December 2024	46,995	446,290	161,566	31,144	685,995
	---------	---------	---------	--------	------------

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	174,826	27,782	202,608
	---------	--------	---------
At 31 December 2024	221,064	68,063	289,127
	---------	--------	---------

16. Stocks

	2025	2024
		(restated)
	£	£
Raw materials and consumables	3,044,367	3,139,466
	------------	------------

17. Debtors

	2025	2024
		(restated)
	£	£
Trade debtors	9,386,862	6,325,553
Amounts owed by group undertakings	2,678,029	1,027,670
Prepayments and accrued income	563,803	539,516
Other debtors	7,144,420	6,680,915
	-------------	-------------
	19,773,114	14,573,654
	-------------	-------------

18. Creditors: amounts falling due within one year

	2025	2024
		(restated)
	£	£
Trade creditors	5,876,499	2,508,945
Bills of exchange payable	61,030	–
Accruals and deferred income	916,836	718,518
Corporation tax	154,132	638,946
Social security and other taxes	820,070	724,192
Obligations under finance leases and hire purchase contracts	46,019	112,351
Director loan accounts	–	150,840
Other creditors	229,621	201,686
	------------	------------
	8,104,207	5,055,478
	------------	------------

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

	2025	2024
		(restated)
	£	£
Obligations under finance leases and hire purchase contracts	38,961	80,167
	--------	--------

20. Finance leases and hire purchase contracts

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

	2025	2024
		(restated)
	£	£
Not later than 1 year	46,019	112,351
Later than 1 year and not later than 5 years	38,961	80,167
	--------	---------
	84,980	192,518
	--------	---------

21. Provisions

	Deferred tax (note 22)
	£
At 1 January 2025 (as restated)	30,958
Additions	10,795
	--------
At 31 December 2025	41,753
	--------

22. Deferred tax

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

	2025	2024
		(restated)
	£	£
Included in provisions (note 21)	41,753	30,958
	--------	--------

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

	2025	2024
		(restated)
	£	£
Accelerated capital allowances	41,753	30,958
	--------	--------

23. Employee benefits

Defined contribution plans

The amount recognised in profit or loss as an expense in relation to defined contribution plans was £ 64,566 (2024: £ 51,455 ).

24. Prior period errors

During the preparation of the 2025 accounts, it came to the directors attention that costs for payroll had been incorrectly processed the accounts. This has resulted in a reduction in profits for the prior year and a reduction in tax payable.

25. Called up share capital

Issued, called up and fully paid

	2025		2024
			(restated)
	No.	£	No.	£
Ordinary A shares of £ 1 each	100	100	100	100
Ordinary B shares of £ 1 each	10	10	10	10
Ordinary C shares of £ 1 each	10	10	–	–
Ordinary D1, D2, D3, D4, D5 shares of £ 1 each	50	50	–	–
Ordinary E1, E2, E3, E4, E5 shares of £ 1 each	50	50	–	–
Deferred shares of £1 each	14,000,000	14,000,000	14,000,000	14,000,000
	-------------	-------------	-------------	-------------
	14,000,220	14,000,220	14,000,110	14,000,110
	-------------	-------------	-------------	-------------

26. Reserves

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

27. Analysis of changes in net debt

	At 1 Jan 2025	Cash flows	At 31 Dec 2025
	£	£	£
Cash at bank and in hand	2,333,382	(273,674)	2,059,708
Debt due within one year	(263,191)	217,172	(46,019)
Debt due after one year	(80,167)	41,206	(38,961)
	------------	---------	------------
	1,990,024	( 15,296)	1,974,728
	------------	---------	------------

Allpack Packaging Limited

Notes to the Financial Statements (continued)

Year ended 31 December 2025

28. Operating leases

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

	2025	2024
		(restated)
	£	£
Not later than 1 year	877,747	841,378
Later than 1 year and not later than 5 years	1,209,713	1,683,193
	------------	------------
	2,087,460	2,524,571
	------------	------------

29. Charges on assets

There is a fixed charge on the company debtors from RBS invoice finance limited date 15 October 2025.

30. Directors' advances, credit and guarantees

Included within creditors are the following loans from directors 2025 £nil 2024 - £150,840. Included within debtors are the following loans to directors 2025 £nil 2024 - £335,188 The above loan is unsecured, interest has been calculated at the official rate and repayable on demand.

31. Related party transactions

Included in debtors is amounts owed to connected parties see note 17. The company rents its premises off another connected party at full market rate .

32. Controlling party

The parent company is Allgroup Holdings Limited owning 100% of the company shares. The ultimate parent is Allgroup Packaging Holdings Limited and the consolidated accounts can be found at the company registered office. The company is controlled by its directors.