Modern Packaging (Uk) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02553448 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 DECEMBER 2019 TO 31 DECEMBER 2020

FOR

MODERN PACKAGING (UK) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountants

7

DIRECTORS:

H S Dulai

Ms S Head

S S Dulai

SECRETARY:

REGISTERED OFFICE:

Europa House 4 Europa Way

Parkstone

Harwich

Essex

CO12 4PT

REGISTERED NUMBER:

02553448 (England and Wales)

ACCOUNTANTS:

Durrants - Calleva

Accountants and Tax Advisors

4 Comet House

Calleva Park

Aldermaston

Berkshire

RG7 8JA

FIXED ASSETS

Tangible assets

4

2,088,643

2,053,732

CURRENT ASSETS

Stocks

1,146,514

552,082

Debtors

5

2,041,230

1,153,887

Cash at bank and in hand

404,092

34,067

3,591,836

1,740,036

CREDITORS

Amounts falling due within one year

6

2,965,134

2,224,769

NET CURRENT ASSETS/(LIABILITIES)

626,702

(484,733

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,715,345

1,568,999

CREDITORS

Amounts falling due after more than one year

7

(2,083,644

)

(1,231,101

)

PROVISIONS FOR LIABILITIES

(151,998

)

(251,054

)

NET ASSETS

479,703

86,844

CAPITAL AND RESERVES

Called up share capital

42

40

Share premium

45,000

-

Retained earnings

434,661

86,804

479,703

86,844

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 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 23 July 2021 and were signed on its behalf by:

S S Dulai - Director

1.	STATUTORY INFORMATION

Modern Packaging (Uk) 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.

Land and buildings

-

2% on cost

Plant and machinery etc

-

25% on reducing balance and at varying rates on cost

Stocks

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation

Taxation for the period 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 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 period 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

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 period was 30 (2019 - 38 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 December 2019

745,662

3,071,333

3,816,995

Additions

-

307,043

307,043

Disposals

-

(16,516

)

(16,516

)

At 31 December 2020

745,662

3,361,860

4,107,522

DEPRECIATION

At 1 December 2019

119,304

1,643,959

1,763,263

Charge for period

16,156

254,736

270,892

Eliminated on disposal

-

(15,276

)

(15,276

)

At 31 December 2020

135,460

1,883,419

2,018,879

NET BOOK VALUE

At 31 December 2020

610,202

1,478,441

2,088,643

At 30 November 2019

626,358

1,427,374

2,053,732

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/20

30/11/19

£

£

Trade debtors

1,822,493

1,091,603

Other debtors

218,737

62,284

2,041,230

1,153,887

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/20

30/11/19

£

£

Bank loans and overdrafts

1,061,620

978,208

Hire purchase contracts

41,145

191,727

Trade creditors

1,602,077

793,943

Taxation and social security

124,141

207,645

Other creditors

136,151

53,246

2,965,134

2,224,769

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/12/20

30/11/19

£

£

Bank loans

493,864

489,147

Hire purchase contracts

799,780

741,954

Other creditors

790,000

-

2,083,644

1,231,101

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

112,298

188,383

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the period ended 31 December 2020 set out on pages nil to nil and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Durrants - Calleva

Accountants and Tax Advisors

4 Comet House

Calleva Park

Aldermaston

Berkshire

RG7 8JA

Date: .............................................