Paperboard Products Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 04012846 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

FOR

PAPERBOARD PRODUCTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

B W Still

Mrs S V Richardson

REGISTERED OFFICE:

KUS Industrial Estate

Manor Lane

Hawarden

Flintshire

CH5 3PP

REGISTERED NUMBER:

04012846 (England and Wales)

AUDITORS:

McLintocks Limited

Statutory Auditor

46 Hamilton Square

Birkenhead

Merseyside

CH41 5AR

FIXED ASSETS

Tangible assets

4

-

185,024

CURRENT ASSETS

Stocks

-

316,251

Debtors

5

-

619,819

Cash in hand

-

1

-

936,071

CREDITORS

Amounts falling due within one year

6

-

872,477

NET CURRENT ASSETS

-

63,594

TOTAL ASSETS LESS CURRENT LIABILITIES

-

248,618

CREDITORS

Amounts falling due after more than one year

7

-

(424,000

)

PROVISIONS FOR LIABILITIES

-

(14,597

)

NET LIABILITIES

-

(189,979

)

CAPITAL AND RESERVES

Called up share capital

1

1,275,000

Retained earnings

(1

)

(1,464,979

)

SHAREHOLDERS' FUNDS

-

(189,979

)

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 on 31 August 2017 and were signed on its behalf by:

Mrs S V Richardson - Director

1.	STATUTORY INFORMATION

Paperboard Products 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at fair value of the consideration received or receivable and

represents amounts receivable for goods supplied and services rendered, stated net of

discounts and of Value Added Tax.

Income is recognised when goods have been delivered to customers such that risks and

rewards of ownership have transferred to them.

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

-

20% on cost, 12.5% on cost and 10% on cost

Fixtures and fittings

-

20% on cost and 10% on cost

Equipment

-

20% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

Financial instruments

The following assets and liabilities are classified as financial instruments - trade debtors,

trade creditors, bank loans and director's loans.

Inter group loans not repayable on demand are initially measured at the present value of

future payments, discounted at a market rate of interest, and subsequently at amortised cost

using the effective interest method.

Inter group loans (being repayable on demand), trade debtors and trade creditors are

measured at the undiscounted amount of the cash or other consideration expected to be

paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each

reporting period for objective evidence of impairment. If objective evidence of impairment is

found, an impairment loss is recognised in the Statements of Income and Retained

Earnings.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of

exchange ruling at the balance sheet date. Transactions in foreign currencies are translated

into sterling at the rate of exchange ruling at the date of transaction. Exchange differences

are taken into account in arriving at the operating result.

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 year was 13 (2015 - 14 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Equipment

Totals

£

£

£

£

COST

At 1 January 2016

1,771,591

50,232

12,432

1,834,255

Additions

11,865

-

-

11,865

Reclassification/transfer

(1,783,456

)

(50,232

)

(12,432

)

(1,846,120

)

At 31 December 2016

-

-

-

-

DEPRECIATION

At 1 January 2016

1,594,527

42,272

12,432

1,649,231

Charge for year

65,074

3,080

-

68,154

Reclassification/transfer

(1,659,601

)

(45,352

)

(12,432

)

(1,717,385

)

At 31 December 2016

-

-

-

-

NET BOOK VALUE

At 31 December 2016

-

-

-

-

At 31 December 2015

177,064

7,960

-

185,024

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade debtors

-

577,818

Other debtors

-

42,001

-

619,819

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Bank loans and overdrafts

-

482,890

Trade creditors

-

153,941

Amounts owed to group undertakings

-

151,527

Taxation and social security

-

63,162

Other creditors

-

20,957

-

872,477

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2016

2015

£

£

Amounts owed to group undertakings

-

424,000

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2016

2015

£

£

Within one year

-

6,370

Between one and five years

-

15,925

-

22,295

9.	COMPANY RE-STRUCTURE

On the 31st December 2016 the trade, assets and liabilities of Paperboard Products Limited

were transferred to Boardlink Limited. As a result of the re-structure, the following

transactions were credited to the profit and loss account:

2016

2015

£

£

Inter group loan write off

26,629

-

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Helen Furlong FCCA (Senior Statutory Auditor)

for and on behalf of McLintocks Limited

11.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting

Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of

Ireland', not to disclose related party transactions with wholly owned subsidiaries within the

group.

12.	ULTIMATE PARENT COMPANY

DWL (Holdings) Limited is regarded by the directors as being the company's ultimate parent

company.It's registered office is Nook House, Cliff Lane Acton Bridge, Northwich, Cheshire,

CW8 3QP and principle place of business is KUS Industrial Estate, Manor Lane, Hawarden,

Flintshire, CH5 3PJ.