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Registration number: 02420524

The Bristol Printing Company Limited

Annual Report and Unaudited Financial Statements (Filleted)

for the Year Ended 31 March 2018

 

The Bristol Printing Company Limited

Contents

Balance Sheet

1 to 2

Notes to the Financial Statements

3 to 8

 

The Bristol Printing Company Limited

(Registration number: 02420524)
Balance Sheet
31 March 2018

Note

2018
£

2017
£

Fixed assets

 

Intangible assets

4

27,750

33,300

Tangible assets

5

40,737

20,621

 

68,487

53,921

Current assets

 

Stocks

6

200

200

Debtors

7

15,644

21,852

Cash at bank and in hand

 

11,763

5,224

 

27,607

27,276

Creditors: Amounts falling due within one year

8

(50,733)

(67,223)

Net current liabilities

 

(23,126)

(39,947)

Total assets less current liabilities

 

45,361

13,974

Creditors: Amounts falling due after more than one year

8

(36,026)

(12,733)

Net assets

 

9,335

1,241

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

9,235

1,141

Total equity

 

9,335

1,241

 

The Bristol Printing Company Limited

(Registration number: 02420524)
Balance Sheet
31 March 2018

For the financial year ending 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 13 November 2018 and signed on its behalf by:
 


 

J C Crane

Director

 

The Bristol Printing Company Limited

Notes to the Financial Statements
Year Ended 31 March 2018

1

General information

The company is a private company limited by share capital incorporated in England and Wales.

The address of its registered office is:
The Clock Tower
Farleigh Court
Old Weston Road
Flax Bourton
Bristol
BS48 1UR

The principal place of business is:
47 Vowles Close
Wraxall
Bristol
BS43 1PP

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

The Bristol Printing Company Limited

Notes to the Financial Statements
Year Ended 31 March 2018

Asset class

Depreciation method and rate

Fixtures and fittings

20-33% per annum straight line

Motor vehicles

33% per annum straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised over its useful life,

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

over 20 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date.

 

The Bristol Printing Company Limited

Notes to the Financial Statements
Year Ended 31 March 2018

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2017 - 3).

 

The Bristol Printing Company Limited

Notes to the Financial Statements
Year Ended 31 March 2018

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2017

111,000

111,000

At 31 March 2018

111,000

111,000

Amortisation

At 1 April 2017

77,700

77,700

Amortisation charge

5,550

5,550

At 31 March 2018

83,250

83,250

Carrying amount

At 31 March 2018

27,750

27,750

At 31 March 2017

33,300

33,300

 

The Bristol Printing Company Limited

Notes to the Financial Statements
Year Ended 31 March 2018

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2017

19,229

33,309

52,538

Additions

1,747

49,035

50,782

Disposals

-

(33,309)

(33,309)

At 31 March 2018

20,976

49,035

70,011

Depreciation

At 1 April 2017

17,899

14,018

31,917

Charge for the year

1,568

9,807

11,375

Eliminated on disposal

-

(14,018)

(14,018)

At 31 March 2018

19,467

9,807

29,274

Carrying amount

At 31 March 2018

1,509

39,228

40,737

At 31 March 2017

1,330

19,291

20,621

6

Stocks

2018
£

2017
£

Other inventories

200

200

7

Debtors

2018
£

2017
£

Trade debtors

15,644

21,794

Other debtors

-

58

Total current trade and other debtors

15,644

21,852

 

The Bristol Printing Company Limited

Notes to the Financial Statements
Year Ended 31 March 2018

8

Creditors

Note

2018
£

2017
£

Due within one year

 

Loans and borrowings

9

9,261

5,502

Trade creditors

 

24,433

31,844

Taxation and social security

 

1,650

-

Other creditors

 

13,558

23,113

Corporation tax liability

 

1,831

6,764

 

50,733

67,223

Due after one year

 

Loans and borrowings

9

36,026

12,733

9

Loans and borrowings

2018
£

2017
£

Non-current loans and borrowings

Finance lease liabilities

36,026

12,733

2018
£

2017
£

Current loans and borrowings

Finance lease liabilities

9,261

5,502