VARSITY PACKAGING LIMITED

1. VARSITY PACKAGING LIMITED 1987-07-22 → present
2. STURDYOUTER LIMITED 1987-02-27 → 1987-07-22

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

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.

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

Rödl & Partner Limited

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“In auditing the financial statements, we have concluded that the Director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.”

Significant events

• “During the year, the Directors recommended the payment of a dividend of £6,000,000 (2024: £0).”
• “UK Corporation tax rates changed to 25% in April 2023. In June 2024, the group tax department instructed the Company that corporation tax losses surrendered to the Company by other group UK companies would, starting with financial year ended 31 December 2023, be surrendered for no value.”
• “In September 2024, The Scheme entered into the buy in element of a buy in buy out arrangement with Aviva Life and Pensions Limited ("Aviva"). The cost of the buy in was £22,791,000.”
• “The Company has entered into a liability limitation agreement with its auditors which was approved on 7 November 2025. The principal terms of the agreement limit the auditor's liability to £6 million.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

5

last 12 months

Capital events

0

last 24 months

Officers appointed

1

last 12 months

Officers resigned

2

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  -7.9%

  £21,804,000 → £20,078,000

• Cash

  -49.6%

  £607,000 → £306,000

• Net assets

  -33.1%

  £16,517,000 → £11,056,000

• Employees

  -9.1%

  11 → 10

• Operating profit

  +410.1%

  -£79,000 → £245,000

• Profit before tax

  +153.1%

  £192,000 → £486,000

• Wages

  +28.3%

  £866,000 → £1,111,000

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers