DS SMITH PACKAGING LIMITED
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Next accounts due
2026-09-30 (in 4mo)
Last filed for 2025-04-30
Confirmation statement due
2026-06-26 (in 1mo)
Last made up 2025-06-12
Watchouts
Cash
£8M
-45.6% vs 2024
Net assets
£11M
-62.2% lowest in 5 filed years
Employees
3,334
+0.6% vs 2024
Profit before tax
-£35M
-229% lowest in 5 filed years
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
3 officer resignations in last 12 months
Multiple officers have left the board recently — see the People section for who.
Net assets
8-year trend · vs Basic Materials median
Accounts
8-year trend · latest reflected 2025-04-30
| Metric | Trend | 2020-05-01 | 2021-04-30 | 2021-05-01 | 2022-04-30 | 2022-05-01 | 2023-04-30 | 2024-04-30 | 2025-04-30 |
|---|---|---|---|---|---|---|---|---|---|
| Turnover | — | £636,866,000 | — | £697,705,000 | — | £761,679,000 | £687,243,000 | £665,350,000 | |
| Operating profit | — | £35,092,000 | — | -£21,198,000 | — | -£12,060,000 | £29,930,000 | -£33,582,000 | |
| Profit before tax | — | £32,743,000 | — | -£22,666,000 | — | -£18,666,000 | £27,365,000 | -£35,301,000 | |
| Net profit | — | £19,952,000 | — | -£28,462,000 | — | -£24,101,000 | £18,789,000 | -£19,573,000 | |
| Cash | — | £4,602,000 | — | £3,213,000 | — | £14,677,000 | £15,621,000 | £8,496,000 | |
| Total assets less current liabilities | — | £84,851,000 | — | £74,804,000 | — | £40,457,000 | £57,410,000 | £25,018,000 | |
| Net assets | — | £52,027,000 | — | £53,176,000 | — | £12,258,000 | £29,290,000 | £11,068,000 | |
| Equity | £36,630,000 | £52,027,000 | £53,913,000 | £53,176,000 | £53,176,000 | £12,258,000 | £29,290,000 | £11,068,000 | |
| Average employees | — | 3,286 | — | 3,401 | — | 3,357 | 3,314 | 3,334 | |
| Wages | — | £123,868,000 | — | £134,862,000 | — | £146,776,000 | £145,590,000 | £158,087,000 |
Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2020-05-01 | 2021-04-30 | 2021-05-01 | 2022-04-30 | 2022-05-01 | 2023-04-30 | 2024-04-30 | 2025-04-30 |
|---|---|---|---|---|---|---|---|---|---|
| Operating margin | — | 5.5% | — | -3.0% | — | -1.6% | 4.4% | -5.0% | |
| Net margin | — | 3.1% | — | -4.1% | — | -3.2% | 2.7% | -2.9% | |
| Return on capital employed | — | 41.4% | — | -28.3% | — | -29.8% | 52.1% | -134.2% | |
| Gearing (liabilities / total assets) | — | — | — | — | — | — | 93.1% | 97.8% | |
| Current ratio | — | — | — | — | — | — | 0.30x | 0.47x | |
| Interest cover | — | 14.93x | — | -11.48x | — | -2.69x | 3.89x | -5.78x |
Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.
Audit & accounting basis
- Accounting basis
- FRS 101
- Reporting scope
- Standalone (parent only)
- Auditor
- Ernst & Young LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The financial statements have been prepared using the going concern basis of accounting. In making their assessment on the appropriateness of using the going concern basis, the Directors have considered any material uncertainties relating to events or conditions that may cast significant doubt upon the continuing use of the going concern basis of accounting in future periods. The Directors have considered a period of at least 12 months from the date the financial statements are authorised for issue.”
Group structure
- DS SMITH PACKAGING LIMITED · parent
- Multigraphics Holdings Limited 100%
- Multigraphics Limited 100%
- Multigraphics Services Limited 100%
- TheBannerPeople.Com Limited 100%
- DS Smith Shanghai Trading Limited 100%
Significant events
- “On 31 January 2025, the DS Smith Group combined with the US-listed International Paper Group to create a new global leader in sustainable packaging solutions.”
- “On 22 May 2025, the business announced that it had conducted a strategic review of the business in which it identified opportunities to reduce complexity, increase agility and streamline the company's footprint, in line with its investment plans. As a result of the review, a proposal to close the following sites, subject to consultation, was announced: Clay Cross, Plymouth, Sheerness and Wellingborough.”
- “In December 2025, the company exchanged contracts to sell two properties associated with the strategic review for gross proceeds of £3.2m.”
- “On 29 January 2026, International Paper announced its intent to form two independent, public companies through the separation of its North America and EMEA businesses. The separation is expected to be completed in 12-15 months, subject to satisfaction of certain customary conditions.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
5 active · 49 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| WOOD, Katie Rosa | Secretary | 2026-02-13 | — | — |
| CHIRON, Marc | Director | 2019-04-09 | Jan 1969 | French |
| ROSSI, Stefano | Director | 2014-09-29 | Jul 1967 | Italian |
| SLATER, Toby Paul | Director | 2021-02-01 | May 1979 | British |
| WRIGHT, Adam David | Director | 2025-06-19 | Sep 1985 | British |
Show 49 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| FENSOME, Richard James | Secretary | 2001-08-01 | 2004-03-22 |
| OLUYINKA, Kafayat Bisola | Secretary | 2025-03-21 | 2026-02-13 |
| SMITH, Andrew Tyler | Secretary | — | 2000-07-28 |
| STEELE, Anne | Secretary | 2004-03-22 | 2018-10-31 |
| STONE, Zillah Wendy | Secretary | 2018-10-31 | 2025-03-21 |
| TENTORI, Mark Ian | Secretary | 2000-07-28 | 2001-08-01 |
| AINSLIE, Roderick Charles | Director | 1995-04-21 | 1997-12-31 |
| BLACKFORD, Christopher Fitzgerald | Director | 1998-09-07 | 2004-04-08 |
| BRERETON, Christopher Thomas Arthur | Director | 2013-03-11 | 2014-06-16 |
| BROWN, Paul Jonathan | Director | 2015-04-01 | 2022-04-30 |
| BUTTON, Graham Christopher | Director | 2000-08-01 | 2004-11-22 |
| BUXTON, Charles Robert | Director | 1998-08-19 | 1999-12-30 |
| CADWELL, Alison Jane | Director | 2009-03-24 | 2015-04-01 |
| CATTERMOLE, Carolyn Tracy | Director | 2004-03-22 | 2011-06-30 |
| CLARKE, Andrew Geoffrey | Director | 2009-03-24 | 2011-12-31 |
| COLLEAUX, Herve | Director | 2015-04-22 | 2017-04-18 |
| CORNISH, Herbert Evan | Director | — | 1992-06-30 |
| CORNISH, Michael John | Director | — | 2003-07-22 |
| COULAM, Reginald Desmond | Director | — | 1999-02-23 |
| DRYDEN, Stephen William | Director | 2008-04-01 | 2013-06-28 |
| FAGG, David Archer | Director | 1997-01-15 | 1998-08-10 |
| FIELDING, Alan George | Director | 1997-01-15 | 2002-06-23 |
| HEDISON, Simon Lindsay | Director | 1998-08-19 | 2004-11-04 |
| HICKS, William Beverley | Director | 2015-07-21 | 2025-09-30 |
| JENKINS, Gareth Paul | Director | 2014-06-16 | 2017-07-14 |
| JOWETT, Matthew Paul | Director | 2011-06-30 | 2016-01-21 |
| LANG, Robert Alexander | Director | — | 1994-09-20 |
| LIEBENBERG, Adrienne | Director | 2017-04-18 | 2018-12-12 |
| LOWE, John Arthur | Director | 1997-01-15 | 2004-11-10 |
| MACNAIR, Donald Henry Anthony | Director | — | 1993-01-31 |
| MANISTY, Alexander | Director | 2004-11-22 | 2015-04-01 |
| MARSH, Adrian Ross Thomas | Director | 2013-09-24 | 2015-07-21 |
| MATTHEWS, David John | Director | 2011-12-31 | 2014-01-16 |
| MCLELLAN, Robert | Director | 2004-11-22 | 2010-11-02 |
| MORRIS, Gavin Mathew | Director | 2004-03-22 | 2008-04-01 |
| NEWMAN, Richard Hugh | Director | 2015-07-21 | 2021-01-29 |
| PONTIN, Keith John | Director | — | 1993-01-31 |
| REDDING, Robert Barry | Director | — | 1996-11-12 |
| ROBERTS, Miles William | Director | 2010-05-04 | 2013-03-20 |
| SAUNDERS, Gary Edward | Director | 2010-11-02 | 2013-09-24 |
| SMITH, Andrew Tyler | Director | 1994-03-07 | 2000-05-15 |
| SMITH, Timothy Valentine | Director | 2000-08-01 | 2002-10-31 |
| STERN, Alexander Paul | Director | 2023-01-09 | 2025-06-27 |
| STUCKES, Richard Paul | Director | 2013-11-13 | 2014-12-22 |
| TENTORI, Mark Ian | Director | 2000-01-28 | 2004-03-22 |
| THORNE, Anthony David | Director | 2004-03-22 | 2010-05-04 |
| WATKINS, Thomas Michael | Director | — | 2000-06-30 |
| WILLIAMS, David Arthur | Director | 1999-01-19 | 2004-03-22 |
| WOOD, Martyn Leslie | Director | — | 1998-08-31 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Ds Smith (Uk) Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2016-04-06 | Active |
Filing timeline
Last 20 of 247 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-05-12 | SH01 | capital | Capital allotment shares | |
| 2026-02-18 | TM02 | officers | Termination secretary company with name termination date | |
| 2026-02-18 | AP03 | officers | Appoint person secretary company with name date | |
| 2026-02-07 | AA | accounts | Accounts with accounts type full | |
| 2026-01-29 | AA01 | accounts | Change account reference date company previous shortened | |
| 2025-10-28 | TM01 | officers | Termination director company with name termination date | |
| 2025-07-02 | TM01 | officers | Termination director company with name termination date | |
| 2025-06-19 | AP01 | officers | Appoint person director company with name date | |
| 2025-06-12 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-03-27 | AP03 | officers | Appoint person secretary company with name date | |
| 2025-03-27 | TM02 | officers | Termination secretary company with name termination date | |
| 2025-01-21 | AA | accounts | Accounts with accounts type full | |
| 2024-06-12 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-04-19 | AA | accounts | Accounts with accounts type full | |
| 2023-06-15 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-01-09 | AP01 | officers | Appoint person director company with name date | |
| 2022-12-20 | PSC05 | persons-with-significant-control | Change to a person with significant control | |
| 2022-12-19 | AD01 | address | Change registered office address company with date old address new address | |
| 2022-12-14 | AA | accounts | Accounts with accounts type full | |
| 2022-06-16 | CS01 | confirmation-statement | Confirmation statement with no updates |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 9
- Capital events
- 1
- Officers appointed
- 2
- Officers resigned
- 3
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.
Year-on-year
FY2024 → FY2025 · period ending 2025-04-30 vs 2024-04-30
-
Turnover
-3.2%
£687,243,000 £665,350,000
-
Cash
-45.6%
£15,621,000 £8,496,000
-
Net assets
-62.2%
£29,290,000 £11,068,000
lowest in 5 filed years
-
Employees
+0.6%
3,314 3,334
-
Operating profit
-212.2%
£29,930,000 -£33,582,000
lowest in 5 filed years
-
Profit before tax
-229%
£27,365,000 -£35,301,000
lowest in 5 filed years
-
Wages
+8.6%
£145,590,000 £158,087,000
highest in 5 filed years
Each % is (latest − prior) ÷ |prior| for the line item as filed. Periods don't have to be exactly 12 months apart — a long or short period (typical around incorporation or year-end changes) will distort the comparison. Lines a company doesn't report are omitted. About these numbers