Stevenage Packaging Limited - Accounts to registrar (filleted) - small 18.2
Stevenage Packaging Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
| Stevenage Packaging Limited |
| Audited Financial Statements |
| For The Period 1 March 2018 to 30 April 2019 |
Stevenage Packaging Limited (Registered number: 02341130) |
Contents of the Financial Statements |
For The Period 1 March 2018 to 30 April 2019 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
Stevenage Packaging Limited |
Company Information |
For The Period 1 March 2018 to 30 April 2019 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants & Statutory Auditor |
Building 15 |
Gateway 1000, Whittle Way |
Arlington Business Park |
Stevenage |
Hertfordshire |
SG1 2FP |
Stevenage Packaging Limited (Registered number: 02341130) |
Statement of Financial Position |
30 April 2019 |
2019 | 2018 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 | ( | ) | ( | ) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
1,676,340 | 975,559 |
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 on by: |
Stevenage Packaging Limited (Registered number: 02341130) |
Notes to the Financial Statements |
For The Period 1 March 2018 to 30 April 2019 |
1. | STATUTORY INFORMATION |
Stevenage Packaging Limited is a |
company's registered number and registered office address can be found on the Company Information page. |
The principal place of business is Follett House, Primett Road, Stevenage, Herts, England. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 detailed in the revenue recognition policy note. |
| 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: |
| 1) Depreciation and amortisation charges |
| The annual depreciation and amortisation charge for each class of tangible and intangible asset is based on an |
| estimate of the useful economic life of the respective assets. This is reviewed periodically by the directors to |
| ensure that they reflect both the external and internal factors. |
Revenue recognition |
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods |
have transferred to the buyer, usually on completion of work done, 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. |
Tangible fixed assets |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
| moving items. |
Stevenage Packaging Limited (Registered number: 02341130) |
Notes to the Financial Statements - continued |
For The Period 1 March 2018 to 30 April 2019 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
| The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting |
| period. Tax is recognised in profit and 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 previous 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 material timing difference 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 |
Research and development |
| R&D tax credits are classed as contingent assets until the claim for the period has been agreed and submitted to |
| HM Revenue & Customs. |
Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
| statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of |
| exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the |
| operating result. |
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. |
Financial instruments |
The company holds basic financial instruments as defined in FRS102. The financial assets and financial |
liabilities of the company and their measurement basis are as follows: |
Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at |
amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial |
instrument and is measured at amortised cost. |
Financial liabilities - trade creditors, accruals and other creditors are financial instruments, and are measured at |
amortised cost. Taxation and social security are not included in the financial instruments disclosure definition. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
Stevenage Packaging Limited (Registered number: 02341130) |
Notes to the Financial Statements - continued |
For The Period 1 March 2018 to 30 April 2019 |
4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
At 1 March 2018 |
Additions |
At 30 April 2019 |
AMORTISATION |
At 1 March 2018 |
Charge for period |
At 30 April 2019 |
NET BOOK VALUE |
At 30 April 2019 |
At 28 February 2018 |
5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 March 2018 |
Additions |
Disposals | ( | ) |
At 30 April 2019 |
DEPRECIATION |
At 1 March 2018 |
Charge for period |
Eliminated on disposal | ( | ) |
At 30 April 2019 |
NET BOOK VALUE |
At 30 April 2019 |
At 28 February 2018 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade debtors |
Other debtors |
Stevenage Packaging Limited (Registered number: 02341130) |
Notes to the Financial Statements - continued |
For The Period 1 March 2018 to 30 April 2019 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
8. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2019 | 2018 |
£ | £ |
Within one year |
Between one and five years |
9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
10. | CONTINGENT LIABILITIES |
The company has entered into cross guarantees with other related party companies in relation to facilities |
provided by Lloyds Bank Plc. |