Stevenage Packaging Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02341130 (England and Wales)

STEVENAGE PACKAGING LIMITED

FINANCIAL STATEMENTS FOR THE YEAR ENDED 28TH FEBRUARY 2018

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

3

to

6

DIRECTORS:

H Stewart

R J Stewart

W E Peacock

SECRETARY:

J E Vallis

REGISTERED OFFICE:

Richmond House

Walkern Road

Stevenage

Hertfordshire

SG1 3QP

REGISTERED NUMBER:

02341130 (England and Wales)

AUDITORS:

Wags LLP t/a Wagstaffs

Chartered Accountants and Statutory Auditors

Richmond House

Walkern Road

Stevenage

Hertfordshire

SG1 3QP

BUSINESS ADDRESS:

Follett House

Primett Road

Stevenage

Herts

SG13EE

FIXED ASSETS

Property, plant and equipment

5

136,076

177,190

CURRENT ASSETS

Inventories

590,922

214,581

Debtors

2,113,116

1,908,546

Cash at bank and in hand

985,429

1,332,043

3,689,467

3,455,170

CREDITORS

Amounts falling due within one year

(2,849,984

)

(2,940,412

)

NET CURRENT ASSETS

839,483

514,758

TOTAL ASSETS LESS CURRENT LIABILITIES

975,559

691,948

CAPITAL AND RESERVES

Called up share capital

7

10,000

10,000

Retained earnings

965,559

681,948

SHAREHOLDERS' FUNDS

975,559

691,948

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.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 28th February 2018 in accordance with Section 444(2A) of the Companies Act 2006.

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 22nd November 2018 and were signed on its behalf by:

R J Stewart - Director

1.	STATUTORY INFORMATION

Stevenage Packaging 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.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements are prepared on a going concern basis and under the historical cost

convention.

Significant judgements and estimates

In the application of the company's accounting policies, which are described below, management is

required to make judgements estimates and assumptions about the carrying value of assets and

liabilities that are not readily apparent from other sources. The estimates and underlying

assumptions are based on historical experience and other factors that are considered to be relevant.

Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to

accounting estimates are recognised in the period in which the estimate is revised if the revision

affects only that period, or in the period of the revision and future periods if the revision affects both

current and future periods.

The Key sources of estimation uncertainty that have a significant effect on the amounts recognised

in the financial statements are described below.

Revenue

Revenue represents the total invoice value, excluding value added tax, trade discounts and all other

taxes of sales made during the year.

Revenue recognition

Revenue is recognised when goods have been delivered and services supplied to customers such

that risks and rewards of ownership have transferred to them.

Property, plant and equipment

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

Plant and machinery etc

-

25% on cost, 20% on cost and over the life of the lease

Inventories

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 stocks 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 tax 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all material timing differences that have originated but not

reversed at the statement of financial position 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 statement of financial position 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.

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.

Operating lease commitments

Rentals payable under operating leases are charged against income on a straight line basis over the

lease term.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2017 - 16 ) .

5.	PROPERTY, PLANT AND EQUIPMENT

Totals

£

Cost

At 1st March 2017

373,050

Additions

22,936

Disposals

(71,205

)

At 28th February 2018

324,781

Depreciation

At 1st March 2017

195,860

Charge for year

63,728

Eliminated on disposal

(70,883

)

At 28th February 2018

188,705

Net book value

At 28th February 2018

136,076

At 28th February 2017

177,190

6.	LEASING AGREEMENTS

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

2018

2017

£

£

Within one year

79,160

57,410

Between one and five years

187,214

198,449

In more than five years

-

38,836

266,374

294,695

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

10,000

Ordinary

£1

10,000

10,000

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

The Report of the Auditors was unqualified.

M R Hubbocks (Senior Statutory Auditor)

for and on behalf of Wags LLP t/a Wagstaffs