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 2019

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 J 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

3,662

6,825

Tangible assets

6

223,561

254,145

Investments

7

43,128

43,128

270,351

304,098

CURRENT ASSETS

Stocks

5,000

3,500

Debtors

8

62,743

58,766

Cash at bank

447,246

388,992

514,989

451,258

CREDITORS

Amounts falling due within one year

9

139,820

224,318

NET CURRENT ASSETS

375,169

226,940

TOTAL ASSETS LESS CURRENT LIABILITIES

645,520

531,038

CREDITORS

Amounts falling due after more than one year

10

(5,069

)

-

PROVISIONS FOR LIABILITIES

-

(3,835

)

NET ASSETS

640,451

527,203

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

640,449

527,201

SHAREHOLDERS' FUNDS

640,451

527,203

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 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 applicable to companies subject to the small companies regime.

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 and authorised for issue on 28 September 2020 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 consideration receivable in respect of sales of goods, excluding value added tax. Where the

outcome of a transaction can be estimated reliably, revenue associated with the transaction is recognised by

reference to the stage of completion at the year end.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

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 5 (2018 - 6 ) .

5.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2019

and 31 December 2019

15,813

AMORTISATION

At 1 January 2019

8,988

Charge for year

3,163

At 31 December 2019

12,151

NET BOOK VALUE

At 31 December 2019

3,662

At 31 December 2018

6,825

6.	TANGIBLE FIXED ASSETS

Fixtures

Leasehold

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 January 2019

385,473

355,870

22,710

Additions

-

12,495

-

At 31 December 2019

385,473

368,365

22,710

DEPRECIATION

At 1 January 2019

153,934

343,168

16,722

Charge for year

38,547

3,779

899

At 31 December 2019

192,481

346,947

17,621

NET BOOK VALUE

At 31 December 2019

192,992

21,418

5,089

At 31 December 2018

231,539

12,702

5,988

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2019

9,032

6,310

779,395

Additions

-

1,500

13,995

At 31 December 2019

9,032

7,810

793,390

DEPRECIATION

At 1 January 2019

5,116

6,310

525,250

Charge for year

979

375

44,579

At 31 December 2019

6,095

6,685

569,829

NET BOOK VALUE

At 31 December 2019

2,937

1,125

223,561

At 31 December 2018

3,916

-

254,145

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

£

COST

Additions

9,250

At 31 December 2019

9,250

DEPRECIATION

Charge for year

1,388

At 31 December 2019

1,388

NET BOOK VALUE

At 31 December 2019

7,862

7.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2019

and 31 December 2019

43,128

NET BOOK VALUE

At 31 December 2019

43,128

At 31 December 2018

43,128

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

10,266

23,790

Amounts owed by group undertakings

15,253

29,583

Other debtors

37,224

5,393

62,743

58,766

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Hire purchase contracts

2,775

-

Trade creditors

21,921

19,583

Taxation and social security

-

50,743

Other creditors

115,124

153,992

139,820

224,318

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Hire purchase contracts

5,069

-

11.	SECURED DEBTS

The following secured debts are included within creditors:

2019

2018

£

£

Hire purchase contracts

7,844

-

-

114,492

7,844

114,492

Hire purchase contracts are secured on the assets to which they relate.

12.	POST BALANCE SHEET EVENTS

The director has considered the company's position with regards to COVID-19. Covid has had an impact on the

business, but with the support of government schemes and being able to adjust overhead to reflect reduced level

of activity, together with the existing cash resources, the director considers there to be no going concern issue.

No adjustments to the financial statements are necessary because of COVID-19.