C Pack Packaging Machinery Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04491052 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2018

for

C PACK PACKAGING MACHINERY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

C R Reilly

SECRETARY:

Mrs S Blacklaw

REGISTERED OFFICE:

Progress House

Unit 2

Athletic Street

Burnley

Lancashire

BB10 4LP

REGISTERED NUMBER:

04491052 (England and Wales)

ACCOUNTANTS:

Haworths Limited

Chartered Accountants

The Old Tannery

Eastgate

Accrington

Lancashire

BB5 6PW

FIXED ASSETS

Intangible assets

5

6,825

9,988

Tangible assets

6

254,145

297,296

Investments

7

43,128

43,128

304,098

350,412

CURRENT ASSETS

Stocks

3,500

2,000

Debtors

8

58,766

89,790

Cash at bank

388,992

412,144

451,258

503,934

CREDITORS

Amounts falling due within one year

9

224,318

214,313

NET CURRENT ASSETS

226,940

289,621

TOTAL ASSETS LESS CURRENT LIABILITIES

531,038

640,033

CREDITORS

Amounts falling due after more than one year

10

-

(200,000

)

PROVISIONS FOR LIABILITIES

(3,835

)

(13,499

)

NET ASSETS

527,203

426,534

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

527,201

426,532

SHAREHOLDERS' FUNDS

527,203

426,534

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the director on 11 July 2019 and were signed by:

C R Reilly - Director

1.	STATUTORY INFORMATION

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

The company's registered number and registered office address can be found on the Company Information page.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements

The financial statements contain information about C Pack Packaging Machinery Limited as an individual

company and do not contain consolidated financial information as the parent of a group. The company is exempt

under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial

statements.

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax.

Intangible assets

Intangible assets are amortised over their useful economic life of 5 years.

Tangible fixed assets

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

Leasehold property

-

10% on cost

Plant and machinery

-

50% on cost and 15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

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

moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

Grants

Grants received towards the cost of tangible fixed assets are recognised in the profit and loss account over the

assets useful economic life. The amount not yet credited to the profit and loss account is included in accruals and

deferred income. Grants towards revenue expenditure are released to the profit and loss account as the related

expenditure is incurred.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2017 - 6 ) .

5.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2018

and 31 December 2018

15,813

AMORTISATION

At 1 January 2018

5,825

Charge for year

3,163

At 31 December 2018

8,988

NET BOOK VALUE

At 31 December 2018

6,825

At 31 December 2017

9,988

6.	TANGIBLE FIXED ASSETS

Fixtures

Leasehold

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 January 2018

and 31 December 2018

385,473

355,870

22,710

DEPRECIATION

At 1 January 2018

115,387

340,927

15,665

Charge for year

38,547

2,241

1,057

At 31 December 2018

153,934

343,168

16,722

NET BOOK VALUE

At 31 December 2018

231,539

12,702

5,988

At 31 December 2017

270,086

14,943

7,045

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2018

and 31 December 2018

9,032

6,310

779,395

DEPRECIATION

At 1 January 2018

3,811

6,309

482,099

Charge for year

1,305

1

43,151

At 31 December 2018

5,116

6,310

525,250

NET BOOK VALUE

At 31 December 2018

3,916

-

254,145

At 31 December 2017

5,221

1

297,296

7.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2018

and 31 December 2018

43,128

NET BOOK VALUE

At 31 December 2018

43,128

At 31 December 2017

43,128

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

23,790

84,683

Amounts owed by group undertakings

29,583

-

Other debtors

5,393

5,107

58,766

89,790

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

19,583

39,631

Amounts owed to group undertakings

-

25,066

Taxation and social security

50,743

15,998

Other creditors

153,992

133,618

224,318

214,313

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Other creditors

-

200,000

11.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Director's Current Account

114,492

-

The director's current account is secured by fixed and floating charges over the property and assets of the

company.

12.	RELATED PARTY DISCLOSURES

C R Reilly

Director

The company occupies premises owned by the director, Mr C R Reilly.

The director has a fixed and floating charge over the property and assets of the company.

At the balance sheet date £114,492 (2017 - £283,994) was due to the director.

C Pack Pendle Limited

The company leases its premises to C Pack Pendle Ltd, a subsidiary.

During the year, rent of £30,000 (2017 - £30,000) was charged to C Pack Pendle Limited.

During the year C Pack Pendle Limited surrendered tax losses totalling £42,914 (2017 - £133,088) for a

consideration of £8,514 (2017 - £25,287)

Other debtors include amount owed by C Pack Pendle Limited of £29,583 (2017 - £25,066 included in other

creditors).