22h 32min, feb 10, 2026 y - MM Packaging (Bradford) Key WP Review

Description:

9+3
Goods only, Manufacturing leaflets & cardboard
Full scope Bradford, Newmarket PM 675k
Specified procedures for CC PM 450k
Separate TB's
Group materiality is lower than Local
Substanstive

Bradford
sig risks (revenue, m/overide, accruals)

Revenue
-50 sample
-incoterms DAP but revenue on dispatch
-cut-off & TOD fine

Journals
-Q4 transactions not considered
-P&L journals none??? MA to check

$1.4m FX loss relating to group currency forwards - waiting on PwC

Fixed assets
-productivity reports missing
-physical verification of pre-existing assets done
-£1.4m additions sample 2 should have been 4, NBV was used

Inventories
-stocktake; no issues
-overhead absorption (traditional) method not cost-cap method
-make to order provision very low

Receivables
-no factoring
-no ageing analysis
-confirmations response very low

Payables
-supplier statement tested
-£11m includes an "intra-company" cross package liability; agreed

Trend analysis; explained peaks/trough
Opex testing

Added to timeline:

Date: