Empack Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08524384 (England and Wales)

Empack Limited

Unaudited Financial Statements for the Year Ended 31st May 2020

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

N J Wood

REGISTERED OFFICE:

12 Northumberland Avenue

Atwick Road

Hornsea

East Yorkshire

HU18 1EQ

REGISTERED NUMBER:

08524384 (England and Wales)

ACCOUNTANTS:

Smailes Goldie

Chartered Accountants

Regent's Court

Princess Street

Hull

East Yorkshire

HU2 8BA

FIXED ASSETS

Tangible assets

4

44,299

44,121

CURRENT ASSETS

Stocks

3,923

3,840

Debtors

5

8,294

15,245

Cash at bank

29,118

25,079

41,335

44,164

CREDITORS

Amounts falling due within one year

6

20,640

24,267

NET CURRENT ASSETS

20,695

19,897

TOTAL ASSETS LESS CURRENT LIABILITIES

64,994

64,018

PROVISIONS FOR LIABILITIES

8,417

8,383

NET ASSETS

56,577

55,635

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

56,477

55,535

SHAREHOLDERS' FUNDS

56,577

55,635

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2020 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 24th February 2021 and were signed by:

N J Wood - Director

1.	STATUTORY INFORMATION

Empack 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.	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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 etc

-

33% on cost, 20% on cost and 10% on cost

Government grants

Government grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.

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 Profit and Loss Account, 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2019 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st June 2019

69,927

Additions

8,336

At 31st May 2020

78,263

DEPRECIATION

At 1st June 2019

25,806

Charge for year

8,158

At 31st May 2020

33,964

NET BOOK VALUE

At 31st May 2020

44,299

At 31st May 2019

44,121

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

7,853

14,843

Other debtors

441

402

8,294

15,245

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

264

4,820

Taxation and social security

12,808

12,534

Other creditors

7,568

6,913

20,640

24,267

7.	OTHER FINANCIAL COMMITMENTS

Within other creditors is an amount of £247 relating to pension contributions yet to be paid at the year end (2019 £nil).