Hull Boxes & Packaging Limited Filleted accounts for Companies House (small and micro)

Hull Boxes & Packaging Limited Filleted accounts for Companies House (small and micro)

HULL BOXES & PACKAGING LIMITED - Company Information

Print Friendly Version

17 false false false false false false false false false true false false false false true true No description of principal activity 2022-05-01 Sage Accounts Production Advanced 2021 - FRS102_2021 16,000 9,000 1,000 10,000 6,000 7,000 xbrli:pure xbrli:shares iso4217:GBP 8516246 2022-05-01 2023-04-30 8516246 2023-04-30 8516246 2022-04-30 8516246 2021-05-01 2022-04-30 8516246 2022-04-30 8516246 core:NetGoodwill 2022-05-01 2023-04-30 8516246 core:PlantMachinery 2022-05-01 2023-04-30 8516246 core:MotorVehicles 2022-05-01 2023-04-30 8516246 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 8516246 bus:OrdinaryShareClass3 2022-05-01 2023-04-30 8516246 bus:OrdinaryShareClass4 2022-05-01 2023-04-30 8516246 bus:Director1 2022-05-01 2023-04-30 8516246 core:WithinOneYear 2023-04-30 8516246 core:WithinOneYear 2022-04-30 8516246 core:NetGoodwill 2022-04-30 8516246 core:NetGoodwill 2023-04-30 8516246 core:PlantMachinery 2022-04-30 8516246 core:MotorVehicles 2022-04-30 8516246 core:PlantMachinery 2023-04-30 8516246 core:MotorVehicles 2023-04-30 8516246 core:PlantMachinery 2022-04-30 8516246 core:AfterOneYear 2023-04-30 8516246 core:AfterOneYear 2022-04-30 8516246 core:UKTax 2022-05-01 2023-04-30 8516246 core:UKTax 2021-05-01 2022-04-30 8516246 core:ShareCapital 2023-04-30 8516246 core:ShareCapital 2022-04-30 8516246 core:RevaluationReserve 2023-04-30 8516246 core:RevaluationReserve 2022-04-30 8516246 core:RetainedEarningsAccumulatedLosses 2023-04-30 8516246 core:RetainedEarningsAccumulatedLosses 2022-04-30 8516246 core:NetGoodwill 2022-04-30 8516246 core:MotorVehicles 2022-04-30 8516246 core:LeasedAssetsHeldAsLessee core:PlantMachinery 2023-04-30 8516246 core:LeasedAssetsHeldAsLessee core:MotorVehicles 2023-04-30 8516246 core:LeasedAssetsHeldAsLessee 2023-04-30 8516246 core:LeasedAssetsHeldAsLessee core:PlantMachinery 2022-04-30 8516246 core:LeasedAssetsHeldAsLessee core:MotorVehicles 2022-04-30 8516246 core:LeasedAssetsHeldAsLessee 2022-04-30 8516246 bus:SmallEntities 2022-05-01 2023-04-30 8516246 bus:AuditExempt-NoAccountantsReport 2022-05-01 2023-04-30 8516246 bus:FullAccounts 2022-05-01 2023-04-30 8516246 bus:SmallCompaniesRegimeForAccounts 2022-05-01 2023-04-30 8516246 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 8516246 bus:AllOrdinaryShares 2023-04-30 8516246 bus:AllOrdinaryShares 2022-04-30 8516246 bus:OrdinaryShareClass1 2023-04-30 8516246 bus:OrdinaryShareClass1 2022-04-30 8516246 bus:OrdinaryShareClass3 2023-04-30 8516246 bus:OrdinaryShareClass3 2022-04-30 8516246 bus:OrdinaryShareClass4 2023-04-30 8516246 bus:OrdinaryShareClass4 2022-04-30
COMPANY REGISTRATION NUMBER: 8516246
Hull Boxes & Packaging Limited
Filleted Unaudited Financial Statements
30 April 2023
Hull Boxes & Packaging Limited
Statement of Financial Position
30 April 2023
2023
2022
Note
£
£
£
£
Fixed assets
Intangible assets
6
6,000
7,000
Tangible assets
7
765,500
734,291
---------
---------
771,500
741,291
Current assets
Stocks
253,107
251,870
Debtors
8
530,421
537,006
Cash at bank and in hand
48,228
107,049
---------
---------
831,756
895,925
Creditors: amounts falling due within one year
9
999,399
1,023,802
---------
------------
Net current liabilities
167,643
127,877
---------
---------
Total assets less current liabilities
603,857
613,414
Creditors: amounts falling due after more than one year
10
295,889
334,148
---------
---------
Net assets
307,968
279,266
---------
---------
Capital and reserves
Called up share capital
11
31,995
31,995
Revaluation reserve
171,717
171,717
Profit and loss account
104,256
75,554
---------
---------
Shareholders funds
307,968
279,266
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Hull Boxes & Packaging Limited
Statement of Financial Position (continued)
30 April 2023
These financial statements were approved by the board of directors and authorised for issue on 16 May 2023 , and are signed on behalf of the board by:
Richard Britton
Director
Company registration number: 8516246
Hull Boxes & Packaging Limited
Notes to the Financial Statements
Year ended 30 April 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Adept House, 64-66 Holderness Road, Hull, East Yorkshire, HU9 1EQ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); 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.
Income tax
The directors consider that it is not appropriate to provide for deferred tax, as they are of the opinion that the potential liability will not crystallise, as it is the company's policy not to dispose of any fixed assets until they are fully written down.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
10% reducing balance
Motor vehicles
-
10% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 17 (2022: 18 ).
5. Tax on profit
Major components of tax (income)/expense
2023
2022
£
£
Current tax:
UK current tax expense
13,844
12,572
Adjustments in respect of prior periods
( 14,381)
–
--------
--------
Total current tax
( 537)
12,572
--------
--------
----
--------
Tax on profit
( 537)
12,572
----
--------
6. Intangible assets
Goodwill
£
Cost
At 1 May 2022 and 30 April 2023
16,000
--------
Amortisation
At 1 May 2022
9,000
Charge for the year
1,000
--------
At 30 April 2023
10,000
--------
Carrying amount
At 30 April 2023
6,000
--------
At 30 April 2022
7,000
--------
7. Tangible assets
Plant and machinery
Motor vehicles
Total
£
£
£
Cost
At 1 May 2022
1,025,082
73,735
1,098,817
Additions
79,764
36,500
116,264
------------
---------
------------
At 30 April 2023
1,104,846
110,235
1,215,081
------------
---------
------------
Depreciation
At 1 May 2022
341,031
23,495
364,526
Charge for the year
76,381
8,674
85,055
------------
---------
------------
At 30 April 2023
417,412
32,169
449,581
------------
---------
------------
Carrying amount
At 30 April 2023
687,434
78,066
765,500
------------
---------
------------
At 30 April 2022
684,051
50,240
734,291
------------
---------
------------
Tangible assets held at valuation
In respect of tangible assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:
Plant and machinery
£
At 30 April 2023
Aggregate cost
923,575
Aggregate depreciation
(238,259)
------------
Carrying value
685,316
------------
At 30 April 2022
Aggregate cost
853,364
Aggregate depreciation
(232,674)
---------
Carrying value
620,690
---------
Finance leases and hire purchase contracts
Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:
Plant and machinery
Motor vehicles
Total
£
£
£
At 30 April 2023
196,719
53,708
250,427
---------
--------
---------
At 30 April 2022
246,446
23,175
269,621
---------
--------
---------
8. Debtors
2023
2022
£
£
Trade debtors
528,285
536,316
Amounts owed by group undertakings
1,000
–
Prepayments and accrued income
1,136
690
---------
---------
530,421
537,006
---------
---------
9. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
337,192
362,043
Accruals and deferred income
1,000
1,000
Corporation tax
13,844
7,300
Social security and other taxes
42,971
40,143
Obligations under finance leases and hire purchase contracts
62,455
67,030
Factoring account
396,071
418,225
Other loans
145,866
121,072
Other creditors
–
6,989
---------
------------
999,399
1,023,802
---------
------------
The factoring account is secured on the trade debtors of the company.
10. Creditors: amounts falling due after more than one year
2023
2022
£
£
Obligations under finance leases and hire purchase contracts
121,742
103,148
Other loans
174,147
231,000
---------
---------
295,889
334,148
---------
---------
11. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
31,975
31,975
31,975
31,975
'A' Ordinary shares of £ 1 each
10
10
10
10
'B' Ordinary shares of £ 1 each
10
10
10
10
--------
--------
--------
--------
31,995
31,995
31,995
31,995
--------
--------
--------
--------
12. Director's advances, credits and guarantees
During the year there were no directors' advances, credits and guarantees.