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

Description:

9+3
Goods only, Manufacturing leaflets only
Full scope Newmarket PM 470k
Specified procedures for CC PM 450k
Separate TB's
Group materiality is lower than Local
Substanstive

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

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

Journals
-Tab 3; follow-up on wild variations
-P&L journals none??? MA to check

Fixed assets
-productivity reports present! Budgeted machines hours 55,000 vs Actual hours 57,000 hours; total downtime 9,000 hours main one Landa machine breakdown
-physical verification of pre-existing assets done
-£1.4m additions sample 2 should have been 4, NBV was used
-Stat audit pick up on the impairment due to downtime

Inventories
-stocktake; no issues
-make to order

Receivables
-strong recoverability
-no ageing analysis

Payables/accruals
-nothing significant

Trend analysis; explained peaks/trough
Opex testing

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Date: