Registration number: 02480123

Packaging Products (Coatings) Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 9

Packaging Products (Coatings) Limited

Company Information

Directors

Mr P D Cornford Mr R J Cornford Mr D R Cornford Mr G M McNeely Mr J A Cornford

Company secretary

Mr P D Cornford

Registered office

Little Green Works Collyhurst Road Collyhurst Manchester M40 7RT

Packaging Products (Coatings) Limited

(Registration number: 02480123)
Balance Sheet as at 31 December 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	286,366	308,610
Current assets
Stocks	5	702,875	808,971
Debtors	6	1,824,473	1,345,554
Cash at bank and in hand		663,729	1,230,188
		3,191,077	3,384,713
Creditors: Amounts falling due within one year	7	(1,384,648)	(1,550,142)
Net current assets		1,806,429	1,834,571
Total assets less current liabilities		2,092,795	2,143,181
Provisions for liabilities		(71,591)	(77,151)
Net assets		2,021,204	2,066,030
Capital and reserves
Called up share capital		3,045	3,045
Capital redemption reserve		9,100	9,100
Revaluation reserve		6,585	6,585
Retained earnings		2,002,474	2,047,300
Shareholders' funds		2,021,204	2,066,030

For the financial year ending 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Packaging Products (Coatings) Limited

(Registration number: 02480123)
Balance Sheet as at 31 December 2025

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 6 April 2026 and signed on its behalf by:
 

......................................... Mr P D Cornford Company secretary and director

......................................... Mr D R Cornford Director

Packaging Products (Coatings) Limited

Notes to the Unaudited Financial Statements for the year ended 31 December 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Little Green Works
Collyhurst Road
Collyhurst
Manchester
M40 7RT

These financial statements were authorised for issue by the Board on 6 April 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentational currency is the Pound Sterling and rounded to the nearest £1.

Going concern

The financial statements have been prepared on a going concern basis, with management having given due consideration to the company’s ability to continue as a going concern for at least the next twelve months.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of turnover can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Packaging Products (Coatings) Limited

Notes to the Unaudited Financial Statements for the year ended 31 December 2025

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Depreciation method and rate for tangible assets
Asset class	Depreciation method and rate
Plant and Machinery	10% on cost
Fixtures and fittings	20% on cost
Office equipment	33% on reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Packaging Products (Coatings) Limited

Notes to the Unaudited Financial Statements for the year ended 31 December 2025

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Packaging Products (Coatings) Limited

Notes to the Unaudited Financial Statements for the year ended 31 December 2025

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 29 (2024 - 29).

4	Tangible assets

	Fixtures and fittings £	Plant and machinery £	Office equipment £	Total £
Cost or valuation
At 1 January 2025	106,604	1,253,297	32,457	1,392,358
Additions	6,595	16,660	6,900	30,155
At 31 December 2025	113,199	1,269,957	39,357	1,422,513
Depreciation
At 1 January 2025	81,534	969,757	32,457	1,083,748
Charge for the year	7,685	44,484	230	52,399
At 31 December 2025	89,219	1,014,241	32,687	1,136,147
Carrying amount
At 31 December 2025	23,980	255,716	6,670	286,366
At 31 December 2024	25,070	283,540	-	308,610

5

Stocks

	2025 £	2024 £
Raw materials and consumables	308,069	317,570
Work in progress	143,093	115,063
Finished goods and goods for resale	251,713	376,338
	702,875	808,971

Packaging Products (Coatings) Limited

Notes to the Unaudited Financial Statements for the year ended 31 December 2025

6

Debtors

Current	Note	2025 £	2024 £
Trade debtors		1,568,477	1,092,402
Amounts owed by related parties	10	7,718	6,634
Prepayments		159,383	154,396
Other debtors		88,895	92,122
		1,824,473	1,345,554

7

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Trade creditors	567,110	682,114
Taxation and social security	298,585	238,971
Accruals and deferred income	136,757	49,423
Other creditors	382,196	579,634
	1,384,648	1,550,142

8	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary of £1 each	3,045	3,045	3,045	3,045

9

Dividends

		2025		2024
		£		£
Interim dividends paid		259,500		72,000

10	Related party transactions

Packaging Products (Coatings) Limited

Notes to the Unaudited Financial Statements for the year ended 31 December 2025

Other transactions with directors

During the year the company operated a loan account with one of its directors. The balance at the end of the year was £66,465 ( 2024 - £67,665) after repayments of £1,200 during the year. There are no loan terms in existence and it is interest free.

Summary of transactions with parent

The company is a wholly owned subsidiary of Packaging Products (Holdings) Limited.
The company operates from the property owned by the parent company and pays a rent of £48,000 per annum (2024 - £48,000).

It also operates an inter-company account with its parent company and at the year end it owed £7,718 (2024 - £6,634).