Longvalley Packaging Limited - Accounts to registrar (filleted) - small 18.2
Longvalley Packaging Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Financial Statements for the Year Ended 31 March 2021 |
| for |
| Longvalley Packaging Limited |
| Longvalley Packaging Limited (Registered number: 01401927) |
| Contents of the Financial Statements |
| for the Year Ended 31 March 2021 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Longvalley Packaging Limited |
| Company Information |
| for the Year Ended 31 March 2021 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 4a Roman Road |
| East Ham |
| London |
| E6 3RX |
| Longvalley Packaging Limited (Registered number: 01401927) |
| Balance Sheet |
| 31 March 2021 |
| 31.3.21 | 31.3.20 |
| Notes | £ | £ |
| FIXED ASSETS |
| Property, plant and equipment | 4 |
| CURRENT ASSETS |
| Inventories | 5 |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 8 | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Revaluation reserve | 9 |
| Retained earnings | 9 |
| SHAREHOLDERS' FUNDS |
| 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. |
| Longvalley Packaging Limited (Registered number: 01401927) |
| Balance Sheet - continued |
| 31 March 2021 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Longvalley Packaging Limited (Registered number: 01401927) |
| Notes to the Financial Statements |
| for the Year Ended 31 March 2021 |
| 1. | STATUTORY INFORMATION |
| Longvalley Packaging Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Revenue 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. |
| Short leasehold - Over the period of the lease |
| Freehold property - 2% on cost |
| Plant and machinery - 25% on reducing balance |
| Stocks |
| Inventories 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 inventories to their present location and condition. |
| 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. |
| Longvalley Packaging Limited (Registered number: 01401927) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2021 |
| 2. | ACCOUNTING POLICIES - continued |
| Trade debtors |
| Trade debtors are measured at amortised cost which is carrying amount less provision for irrecoverable amounts.Allowances for the estimated irrecoverable amounts are made in the profit and loss account when the debtor is considered to be uncollectable. |
| Trade creditors |
| Trade creditors are measured at amortised cost. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | PROPERTY, PLANT AND EQUIPMENT |
| Freehold | Short | Plant and |
| property | leasehold | machinery | Totals |
| £ | £ | £ | £ |
| COST OR VALUATION |
| At 1 April 2020 |
| Additions |
| At 31 March 2021 |
| DEPRECIATION |
| At 1 April 2020 |
| Charge for year |
| At 31 March 2021 |
| NET BOOK VALUE |
| At 31 March 2021 |
| At 31 March 2020 |
| Cost or valuation at 31 March 2021 is represented by: |
| Freehold | Short | Plant and |
| property | leasehold | machinery | Totals |
| £ | £ | £ | £ |
| Valuation in 2016 | 348,912 | - | - | 348,912 |
| Cost | 101,588 | 18,341 | 939,045 | 1,058,974 |
| 450,500 | 18,341 | 939,045 | 1,407,886 |
| Longvalley Packaging Limited (Registered number: 01401927) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2021 |
| 5. | INVENTORIES |
| 31.3.21 | 31.3.20 |
| £ | £ |
| Raw materials |
| Work-in-progress |
| Finished goods |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.21 | 31.3.20 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Prepayments |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.21 | 31.3.20 |
| £ | £ |
| Trade creditors |
| Tax |
| Social security and other taxes |
| VAT | 79,977 | 57,072 |
| Directors' current accounts | 107,006 | 89,675 |
| Accruals and deferred income |
| Accrued expenses |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.3.21 | 31.3.20 |
| £ | £ |
| Directors' loan accounts | - | 17,330 |
| 9. | RESERVES |
| Retained | Revaluation |
| earnings | reserve | Totals |
| £ | £ | £ |
| At 1 April 2020 | 1,004,948 |
| Profit for the year |
| Dividends | ( |
) | ( |
) |
| Revaluation surplus | 6,978 | (6,978 | ) | - |
| At 31 March 2021 | 1,026,526 |
| Longvalley Packaging Limited (Registered number: 01401927) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2021 |
| 10. | ULTIMATE CONTROLLING PARTY |
| The directors and their family control the company by virtue of a controlling interest of 100%(directly or indirectly) of the issued ordinary share capital. |