REGISTERED NUMBER: 02574686 (England and Wales)

CROCODILE PACKAGING LIMITED

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31ST DECEMBER 2025

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

to

6

DIRECTORS:

Ms P Philip

Mrs J Clark

Mr A Philip

Mrs L Philip

Mr Q M C Philip

Mr A P Ward

SECRETARY:

Ms P Philip

REGISTERED OFFICE:

Unit 62 Thornhill Industrial Est

South Marston

SWINDON

Wiltshire

SN3 4TA

REGISTERED NUMBER:

02574686 (England and Wales)

AUDITORS:

Morris Owen

Statutory Auditors

43-45 Devizes Road

SWINDON

Wiltshire

SN1 4BG

FIXED ASSETS

Tangible assets

4

223,622

247,120

CURRENT ASSETS

Stocks

269,450

292,291

Debtors

5

727,598

447,647

Cash at bank and in hand

168,202

147,733

1,165,250

887,671

CREDITORS

Amounts falling due within one year

6

452,140

572,051

NET CURRENT ASSETS

713,110

315,620

TOTAL ASSETS LESS CURRENT LIABILITIES

936,732

562,740

CREDITORS

Amounts falling due after more than one year

7

(58,129

)

(4,765

)

PROVISIONS FOR LIABILITIES

(55,906

)

(15,956

)

NET ASSETS

822,697

542,019

CAPITAL AND RESERVES

Called up share capital

9

752,555

752,555

Retained earnings

70,142

(210,536

)

SHAREHOLDERS' FUNDS

822,697

542,019

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24th August 2026 and were signed on its behalf by:

Mr Q M C Philip - Director

1.	STATUTORY INFORMATION

Crocodile Packaging Limited is a private company, limited by shares, registered in England and Wales.

The company's registered number is 02574686.

The company's registered office address is Unit 62 Thornhill Industrial Est, South Marston, Swindon, Wiltshire, SN3 4TA.

The presentation currency of the financial statements is £GBP sterling.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

In preparing these financial statements, the directors have made the following judgements:

- Determine whether leases entered into by the company as a lessee are operating leases or finance leases. These decisions depend on an assessment of whether the risks and rewards of ownership have been transferred from the lessor to the lessee on a lease by lease basis.

- Determine the period of useful economic life and any residual value of all tangible fixed assets order to write off the value of each asset over that period.

- Determine an appropriate provision for bad and doubtful debts by assessing the recoverability of all balances on a balance by balance basis.

- Determine an appropriate provision for obsolete and slow moving stocks by assessing the net realisable value of all stock lines on a line by line basis.

- Determine an appropriate provision for dilapidations by assessing the probable future obligations expected to exist at the end of the property lease.

Turnover

Turnover represents amounts receivable for the manufacture and distribution of industrial packaging and timber engineering products, net of VAT and trade discounts. Turnover from packaging and timber frame manufacturing sales is recognised at the point of dispatch.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

10% on cost

Computer equipment

-

10% - 33% on cost

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Short term trade creditors are measured at the transaction price. Other financial liabilities, including loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern

The directors have assessed the forthcoming period in terms of profitability and cashflows and feel that the going concern principle remains appropriate.

However, within the foreseeable future, there is the potential for a change of control of the business due to the potential exercise of options to purchase shares from existing shareholders. In the event that this were to happen, the directors are unable to confirm the intention for the business when under new control with regard the continuance of the business as a going concern.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 51 (2024 - 51 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Computer

Motor

machinery

equipment

vehicles

Totals

£

£

£

£

COST

At 1st January 2025

531,457

73,741

35,700

640,898

Additions

16,186

5,533

-

21,719

Disposals

(27,524

)

-

-

(27,524

)

At 31st December 2025

520,119

79,274

35,700

635,093

DEPRECIATION

At 1st January 2025

315,743

54,925

23,110

393,778

Charge for year

29,556

8,157

3,146

40,859

Eliminated on disposal

(23,166

)

-

-

(23,166

)

At 31st December 2025

322,133

63,082

26,256

411,471

NET BOOK VALUE

At 31st December 2025

197,986

16,192

9,444

223,622

At 31st December 2024

215,714

18,816

12,590

247,120

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

as

restated

£

£

Trade debtors

629,602

405,134

Other debtors

97,996

42,513

727,598

447,647

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

as

restated

£

£

Hire purchase contracts

20,947

9,054

Trade creditors

264,231

218,012

Taxation and social security

115,407

90,764

Other creditors

51,555

254,221

452,140

572,051

Included in other creditors are pension commitments of £29,096 (2024: £15,426).

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

as

restated

£

£

Hire purchase contracts

58,129

4,765

8.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

as

restated

£

£

Hire purchase contracts

79,076

13,819

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

as restated

£

£

752,555

Ordinary

£1

752,555

752,555

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

The Report of the Auditors was unqualified.

Mr Robert Andrew Beale (Senior Statutory Auditor)

for and on behalf of Morris Owen