Pak-Pro Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 04464691 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 June 2017

for

Pak-Pro Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr C Ledigo

Mrs J O'Neill

Mr P B Meads

SECRETARY:

Mrs J O'Neill

REGISTERED OFFICE:

Reedham House

31 King Street West

Manchester

Greater Manchester

M3 2PJ

BUSINESS ADDRESS:

Unit 12 Botany Business Park

Macclesfield Road

Whaley Bridge

High Peak

Derbyshire

SK23 7DQ

REGISTERED NUMBER:

04464691 (England and Wales)

ACCOUNTANTS:

Freedman Frankl & Taylor

Chartered Accountants

Reedham House

31 King Street West

Manchester

M3 2PJ

FIXED ASSETS

Tangible assets

4

147,472

123,082

CURRENT ASSETS

Stocks

24,798

20,063

Debtors

5

899,508

895,669

Cash at bank

384,340

820,276

1,308,646

1,736,008

CREDITORS

Amounts falling due within one year

6

320,346

827,920

NET CURRENT ASSETS

988,300

908,088

TOTAL ASSETS LESS CURRENT LIABILITIES

1,135,772

1,031,170

PROVISIONS FOR LIABILITIES

19,103

20,611

NET ASSETS

1,116,669

1,010,559

CAPITAL AND RESERVES

Called up share capital

101

101

Retained earnings

1,116,568

1,010,458

SHAREHOLDERS' FUNDS

1,116,669

1,010,559

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2017 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 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 22 February 2018 and were signed on its behalf by:

Mrs J O'Neill - Director

1.	STATUTORY INFORMATION

Pak-Pro Ltd 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 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 represents the invoice value of goods and services provided net of value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Leasehold improvements

-

The period of the lease

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

20% on cost

Stocks

Stock is packaging materials at cost.

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.

Going concern

The company's financial statements for the year ended 30 June 2017 have been prepared on a going concern

basis as, after making appropriate enquiries, the directors have a reasonable expectation that the company has

adequate resources to continue in operational existence for the foreseeable future.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 37 .

4.	TANGIBLE FIXED ASSETS

Fixtures

Leasehold

Plant and

and

improvements

machinery

fittings

£

£

£

COST

At 1 July 2016

14,455

101,220

138,945

Additions

39,108

1,935

11,891

At 30 June 2017

53,563

103,155

150,836

DEPRECIATION

At 1 July 2016

14,455

71,421

63,036

Charge for year

6,924

4,573

12,747

Eliminated on disposal

-

-

-

At 30 June 2017

21,379

75,994

75,783

NET BOOK VALUE

At 30 June 2017

32,184

27,161

75,053

At 30 June 2016

-

29,799

75,909

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 July 2016

19,020

18,760

292,400

Additions

9,440

-

62,374

Disposals

(11,295

)

(4,788

)

(16,083

)

At 30 June 2017

17,165

13,972

338,691

DEPRECIATION

At 1 July 2016

7,759

12,647

169,318

Charge for year

2,737

3,159

30,140

Eliminated on disposal

(3,451

)

(4,788

)

(8,239

)

At 30 June 2017

7,045

11,018

191,219

NET BOOK VALUE

At 30 June 2017

10,120

2,954

147,472

At 30 June 2016

11,261

6,113

123,082

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

774,326

764,219

Other debtors

125,182

131,450

899,508

895,669

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

-

294,886

Trade creditors

154,914

194,592

Taxation and social security

102,026

235,572

Other creditors

63,406

102,870

320,346

827,920

7.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank overdraft

-

268,167

Bank loans

-

26,719

-

294,886

8.	CONTINGENT LIABILITIES

The company has guaranteed the bank facilities up to a maximum of £500,000 of Reisser Limited, a company in

which the directors, Mr C. Ledigo and Mrs J. O'Neill are directors and shareholders.