South West Packaging Limited - Accounts to registrar (filleted) - small 18.1
South West Packaging Limited - Accounts to registrar (filleted) - small 18.1
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 30 September 2017 |
| for |
| South West Packaging Limited |
| South West Packaging Limited (Registered number: 01800975) |
| Contents of the Financial Statements |
| for the Year Ended 30 September 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| South West Packaging Limited |
| Company Information |
| for the Year Ended 30 September 2017 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 35 Brown Street |
| Salisbury |
| Wiltshire |
| SP1 2AS |
| South West Packaging Limited (Registered number: 01800975) |
| Balance Sheet |
| 30 September 2017 |
| 30.9.17 | 30.9.16 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| 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. |
| South West Packaging Limited (Registered number: 01800975) |
| Balance Sheet - continued |
| 30 September 2017 |
| 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 behalf by: |
| South West Packaging Limited (Registered number: 01800975) |
| Notes to the Financial Statements |
| for the Year Ended 30 September 2017 |
| 1. | STATUTORY INFORMATION |
| South West Packaging Limited is a |
| 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 |
| 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 |
| Plant and machinery etc | - |
| 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 |
| A financial asset or a financial liability is recognised only when the company becomes a party to the |
| contractual provisions of the instrument. |
| Basic financial instruments are initially recognised at the transaction price, unless the arrangement |
| constitutes a financing transaction, where it is recognised at the present value of the future payments |
| discounted at a market rate of interest for a similar debt instrument. |
| Debt instruments are subsequently measured at amortised cost. |
| Where investments in non-convertible preference shares and non-puttable ordinary shares or |
| preference shares are publicly traded or their fair value can otherwise be measured reliably, the |
| investment is subsequently measured at fair value with changes in fair value recognised in profit or |
| loss. |
| All other such investments are subsequently measured at cost less impairment. |
| Other financial instruments, including derivatives, are initially recognised at fair value, unless payment |
| for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a |
| market rate, in which case the asset is measured at the present value of the future payments |
| discounted at a market rate of interest for a similar debt instrument. |
| Other financial instruments are subsequently measured at fair value, with any changes recognised in |
| profit or loss. |
| Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of |
| impairment at the end of each reporting date. If there is objective evidence of impairment, an |
| impairment loss is recognised in profit or loss immediately. |
| For all equity instruments regardless of significance, and other financial assets that are individually |
| significant, these are assessed individually for impairment. Other financial assets or either assessed |
| individually or grouped on the basis of similar credit risk characteristics. |
| Any reversals of impairment are recognised in profit or loss immediately, to the extent that the |
| reversal does not result in a carrying amount of the financial asset that exceeds what the carrying |
| amount would have been had the impairment not previously been recognised. |
| South West Packaging Limited (Registered number: 01800975) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 September 2017 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| 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 |
| South West Packaging Limited (Registered number: 01800975) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 September 2017 |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| COST |
| At 1 October 2016 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 30 September 2017 |
| DEPRECIATION |
| At 1 October 2016 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 30 September 2017 |
| NET BOOK VALUE |
| At 30 September 2017 |
| At 30 September 2016 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.9.17 | 30.9.16 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.9.17 | 30.9.16 |
| £ | £ |
| Hire purchase contracts (see note 8) |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 30.9.17 | 30.9.16 |
| £ | £ |
| Hire purchase contracts (see note 8) |
| South West Packaging Limited (Registered number: 01800975) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 September 2017 |
| 8. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Hire purchase contracts |
| 30.9.17 | 30.9.16 |
| £ | £ |
| Net obligations repayable: |
| Within one year |
| Between one and five years |
| Non-cancellable |
| operating leases |
| 30.9.17 | 30.9.16 |
| £ | £ |
| Within one year |
| Between one and five years |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 30.9.17 | 30.9.16 |
| £ | £ |
| Hire purchase contracts | 316,026 | 224,410 |
| Factored debts | 698,852 | 641,982 |
| The obligations held under hire purchase and finance leases are secured on the assets to which they |
| relate. |
| The liability relating to factored debts (included in trade creditors) is secured by means of a fixed and |
| floating charge over the company's assets. |
| South West Packaging Limited (Registered number: 01800975) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 September 2017 |
| 10. | FINANCIAL INSTRUMENTS |
| A financial asset or a financial liability is recognised only when the company becomes a party to the |
| contractual provisions of the instrument. |
| Basic financial instruments are initially recognised at the transaction price, unless the arrangement |
| constitutes a financing transaction, where it is recognised at the present value of the future payments |
| discounted at a market rate of interest for a similar debt instrument. |
| Debt instruments are subsequently measured at amortised cost. |
| Where investments in non-convertible preference shares and non-puttable ordinary shares or |
| preference shares are publicly traded or their fair value can otherwise be measured reliably, the |
| investment is subsequently measured at fair value with changes in fair value recognised in profit or |
| loss. |
| All other such investments are subsequently measured at cost less impairment. |
| Other financial instruments, including derivatives, are initially recognised at fair value, unless payment |
| for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a |
| market rate, in which case the asset is measured at the present value of the future payments |
| discounted at a market rate of interest for a similar debt instrument. |
| Other financial instruments are subsequently measured at fair value, with any changes recognised in |
| profit or loss. |
| Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of |
| impairment at the end of each reporting date. If there is objective evidence of impairment, an |
| impairment loss is recognised in profit or loss immediately. |
| For all equity instruments regardless of significance, and other financial assets that are individually |
| significant, these are assessed individually for impairment. Other financial assets or either assessed |
| individually or grouped on the basis of similar credit risk characteristics. |
| Any reversals of impairment are recognised in profit or loss immediately, to the extent that the |
| reversal does not result in a carrying amount of the financial asset that exceeds what the carrying |
| amount would have been had the impairment not previously been recognised. |
| 11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 30 September 2017 |
| and 30 September 2016: |
| 30.9.17 | 30.9.16 |
| £ | £ |
| Balance outstanding at start of year | ( |
) | ( |
) |
| Amounts advanced |
| Amounts repaid | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year | ( |
) |
| The loan is interest-free and repayable on demand. |