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REGISTERED NUMBER: 03744718 (England and Wales)















Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 31 December 2021

for

Allprint Supplies Limited

Allprint Supplies Limited (Registered number: 03744718)






Contents of the Financial Statements
for the Year Ended 31 December 2021




Page

Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Income Statement 10

Other Comprehensive Income 11

Balance Sheet 12

Statement of Changes in Equity 14

Cash Flow Statement 15

Notes to the Cash Flow Statement 16

Notes to the Financial Statements 18


Allprint Supplies Limited

Company Information
for the Year Ended 31 December 2021







DIRECTORS: Mr A G K Wallace
Mr P Noble
Ms L S Hart
Mr R Wallace





SECRETARY: Mr A G K Wallace





REGISTERED OFFICE: 7b Fairlie Road
Slough
Berkshire
SL1 4PY





REGISTERED NUMBER: 03744718 (England and Wales)





AUDITORS: WP Audit Limited
Statutory Auditors
5a Frascati Way
Maidenhead
Berkshire
SL6 4UY

Allprint Supplies Limited (Registered number: 03744718)

Strategic Report
for the Year Ended 31 December 2021

The directors present their strategic report for the year ended 31 December 2021.

REVIEW OF BUSINESS
Sales in 2021 increased by 5.5% This low level of growth is attributed to the impact of COVID-19 on the exhibition, event and retail sectors. These sectors were severely impacted by the pandemic and subsequent lock-downs. Margins were acceptable despite the poor Sterling performance against the Euro, significant raw material increases and a very competitive market place. We expect sales growth in 2022 to return to pre-pandemic levels of 2019, as the severely hit sectors return to more normal levels of business.

PRINCIPAL RISKS AND UNCERTAINTIES
Other than a further outbreak of COVID-19, the Directors feel that there is low risk associated with the business currently due to the number of customers and the diverse sectors in which we operate.
Foreign currency remains an issue as most of our purchases are from the European Union.
Raw material shortages also continue to be an issue, both in terms of availability and of escalating costs. This affects the whole industry, so pricing instability is a factor that customers seem to have accepted for the time being.


Allprint Supplies Limited (Registered number: 03744718)

Strategic Report
for the Year Ended 31 December 2021

Development and performance
We like to offer our customers a wide choice of brands and the best and most innovative products. To sustain this effort we have continued to invest heavily in research and development accounting for around 2.7% of sales turnover. This will help move the business forward in the coming years.

Treasury operations and financial instruments
The company's financial instruments comprise cast at bank, trade receivables and payables that arise from operations, bank loans, hire purchase and financial lease contracts. The financial risk affecting the company is monitored by the board on a regular basis.

Interest rate risk
The company has interest bearing assets and liabilities. Interest bearing assets include cash balances which earn interest at variable bank rates. Interest bearing liabilities include bank loans which attract interest at variable bank rates. The directors will review the appropriateness of these assets and liabilities to ensure that it is consistent with the company's activities.

Credit risk
Trade debtors are the company's principal exposure in relation to financial assets. The company monitors credit risk closely and considers that its current policies of credit checking meets its objectives of managing exposure. The company has no significant concentration of credit risk.

Financial key performance indicators
We consider that our key performance indicators are those that communicate the financial performance and the strength of the company as a whole; those being turnover, margin, EBITDA and the return on capital employed.

ON BEHALF OF THE BOARD:



Mr A G K Wallace - Director


23 August 2022

Allprint Supplies Limited (Registered number: 03744718)

Report of the Directors
for the Year Ended 31 December 2021

The directors present their report with the financial statements of the company for the year ended 31 December 2021.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of manufacture of printed labels.

DIVIDENDS
An interim dividend of £0.204 per share was paid on 12 April 2021. The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 31 December 2021 will be £ 200,000 .

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2021 to the date of this report.

Mr A G K Wallace
Mr P Noble
Ms L S Hart
Mr R Wallace

Other changes in directors holding office are as follows:

Mr D J Page - resigned 31 January 2021

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Allprint Supplies Limited (Registered number: 03744718)

Report of the Directors
for the Year Ended 31 December 2021


STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ON BEHALF OF THE BOARD:





Mr A G K Wallace - Director


23 August 2022

Report of the Independent Auditors to the Members of
Allprint Supplies Limited

Opinion
We have audited the financial statements of Allprint Supplies Limited (the 'company') for the year ended 31 December 2021 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 December 2021 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' 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 financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Report of the Independent Auditors to the Members of
Allprint Supplies Limited


Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Allprint Supplies Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We considered the nature of the company's industry and its control environment, and reviewed the company's documentation of their policies and procedures relating to fraud and compliance with laws and regulations. We also ensured of management about their own identification and assessment of the risks and irregularities.

We obtained an understanding of the legal and regulatory framework that the company operates in, and identified the key laws and regulations that:

- had a direct effect on the determination of material amounts and disclosures in the financial statements These included the UK Companies Act, tax legislation, health and safety legislation and employment legislation

-had an indirect effect on the determination of material amounts and disclosures in the financial statements.

We discussed among the audit engagement team, regarding the opportunities and incentives that may exist within the organisation for fraud and how and where fraud might occur in the financial statements.

As a result of performing the above, we identified the greatest potential for fraud and performed specific procedures to ensure that they were addressed.

In common with all audit ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override. In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments; assessed whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluated the business rationale of any significant transactions that are unusual or outside the normal course of business.

In addition to the above procedures to respond to the risks identified including the following:

-Reviewing financial statement disclosures by testing supporting documentation to assess compliance with provisions of relevant laws and regulations as described as having a direct effect on the financial statements;

-performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;

-enquiring of management concerning actual and potential litigation and claims, and instances of non-compliance with laws and regulations; and


Report of the Independent Auditors to the Members of
Allprint Supplies Limited

-reading of minutes of meetings of those charged with governance.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Philippa Duckworth BSc FCCA (Senior Statutory Auditor) (Senior Statutory Auditor)
for and on behalf of WP Audit Limited
Statutory Auditors
5a Frascati Way
Maidenhead
Berkshire
SL6 4UY

4 September 2022

Allprint Supplies Limited (Registered number: 03744718)

Income Statement
for the Year Ended 31 December 2021

31.12.21 31.12.20
Notes £    £   

TURNOVER 3 13,405,102 12,709,056

Cost of sales (9,543,755 ) (9,319,806 )
GROSS PROFIT 3,861,347 3,389,250

Distribution costs (1,405,214 ) (1,605,009 )
Administrative expenses (1,765,067 ) (1,850,253 )
691,066 (66,012 )

Other operating income 157,317 662,527
OPERATING PROFIT 5 848,383 596,515


Interest payable and similar expenses 6 (55,888 ) (26,508 )
PROFIT BEFORE TAXATION 792,495 570,007

Tax on profit 7 (91,992 ) (56,718 )
PROFIT FOR THE FINANCIAL YEAR 700,503 513,289

Allprint Supplies Limited (Registered number: 03744718)

Other Comprehensive Income
for the Year Ended 31 December 2021

31.12.21 31.12.20
Notes £    £   

PROFIT FOR THE YEAR 700,503 513,289


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

700,503

513,289

Allprint Supplies Limited (Registered number: 03744718)

Balance Sheet
31 December 2021

31.12.21 31.12.20
Notes £    £   
FIXED ASSETS
Tangible assets 9 1,304,228 1,329,500
Investments 10 147,000 147,000
1,451,228 1,476,500

CURRENT ASSETS
Stocks 11 2,236,505 2,219,749
Debtors 12 3,225,760 2,529,251
Cash at bank and in hand 101,952 1,188,094
5,564,217 5,937,094
CREDITORS
Amounts falling due within one year 13 (2,467,840 ) (2,458,728 )
NET CURRENT ASSETS 3,096,377 3,478,366
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,547,605

4,954,866

CREDITORS
Amounts falling due after more than
one year

14

(550,358

)

(1,485,700

)

PROVISIONS FOR LIABILITIES 18 (122,230 ) (94,652 )
NET ASSETS 3,875,017 3,374,514

Allprint Supplies Limited (Registered number: 03744718)

Balance Sheet - continued
31 December 2021

31.12.21 31.12.20
Notes £    £   
CAPITAL AND RESERVES
Called up share capital 19 490,289 490,289
Retained earnings 20 3,384,728 2,884,225
SHAREHOLDERS' FUNDS 3,875,017 3,374,514


The financial statements were approved by the Board of Directors and authorised for issue on 23 August 2022 and were signed on its behalf by:




Mr A G K Wallace - Director Mr R Wallace - Director




Ms L S Hart - Director Mr P Noble - Director


Allprint Supplies Limited (Registered number: 03744718)

Statement of Changes in Equity
for the Year Ended 31 December 2021

Called up
share Retained Total
capital earnings equity
£    £    £   

Balance at 1 January 2020 490,289 2,370,936 2,861,225

Changes in equity
Total comprehensive income - 513,289 513,289
Balance at 31 December 2020 490,289 2,884,225 3,374,514

Changes in equity
Dividends - (200,000 ) (200,000 )
Total comprehensive income - 700,503 700,503
Balance at 31 December 2021 490,289 3,384,728 3,875,017

Allprint Supplies Limited (Registered number: 03744718)

Cash Flow Statement
for the Year Ended 31 December 2021

31.12.21 31.12.20
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 381,956 909,949
Interest paid (35,160 ) (26,508 )
Interest element of hire purchase
payments paid

(20,728

)

-
Tax paid (22,430 ) (13,968 )
Net cash from operating activities 303,638 869,473

Cash flows from investing activities
Purchase of tangible fixed assets (153,311 ) (64,347 )
Sale of tangible fixed assets 122,904 65,500
Interest received - 41
Net cash from investing activities (30,407 ) 1,194

Cash flows from financing activities
New loans in year - 1,000,000
Loan repayments in year (1,000,000 ) -
Capital repayments in year (175,489 ) (214,836 )
Amount introduced by directors (157,733 ) -
Amount withdrawn by directors 173,849 -
- (595,131 )
Equity dividends paid (200,000 ) -
Net cash from financing activities (1,359,373 ) 190,033

(Decrease)/increase in cash and cash equivalents (1,086,142 ) 1,060,700
Cash and cash equivalents at beginning
of year

2

1,188,094

127,394

Cash and cash equivalents at end of
year

2

101,952

1,188,094

Allprint Supplies Limited (Registered number: 03744718)

Notes to the Cash Flow Statement
for the Year Ended 31 December 2021

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS
31.12.21 31.12.20
£    £   
Profit before taxation 792,495 570,007
Depreciation charges 334,504 309,409
Profit on disposal of fixed assets (45,900 ) (11,289 )
- (41 )
Finance costs 55,888 26,508
1,136,987 894,594
(Increase)/decrease in stocks (16,756 ) 326,598
(Increase)/decrease in trade and other debtors (610,379 ) 450,661
Decrease in trade and other creditors (127,896 ) (761,904 )
Cash generated from operations 381,956 909,949

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 December 2021
31.12.21 1.1.21
£    £   
Cash and cash equivalents 101,952 1,188,094
Year ended 31 December 2020
31.12.20 1.1.20
£    £   
Cash and cash equivalents 1,188,094 127,394


Allprint Supplies Limited (Registered number: 03744718)

Notes to the Cash Flow Statement
for the Year Ended 31 December 2021

3. ANALYSIS OF CHANGES IN NET DEBT

At 1.1.21 Cash flow At 31.12.21
£    £    £   
Net cash
Cash at bank and in hand 1,188,094 (1,086,142 ) 101,952
1,188,094 (1,086,142 ) 101,952
Debt
Finance leases (726,318 ) (57,437 ) (783,755 )
Debts falling due within 1 year (100,000 ) 100,000 -
Debts falling due after 1 year (900,000 ) 900,000 -
(1,726,318 ) 942,563 (783,755 )
Total (538,224 ) (143,579 ) (681,803 )

Allprint Supplies Limited (Registered number: 03744718)

Notes to the Financial Statements
for the Year Ended 31 December 2021

1. STATUTORY INFORMATION

Allprint Supplies Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
In the application of the company's accounting policies the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Turnover
Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Revenue is recognised when goods are dispatched to the customer, which is when the goods are invoiced.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Short leasehold - Over the lease term
Improvements to property - 20% on cost
Plant and machinery - 15% on reducing balance
Motor vehicles - 33% on reducing balance
Computer equipment - 33% on cost

Government grants
Grant income relating to the Coronavirus Job Retention Scheme (CJRS) has been recognised in the same period in which the expense has been incurred.

Allprint Supplies Limited (Registered number: 03744718)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

2. ACCOUNTING POLICIES - continued

Stocks
Stocks are measured at the lower of cost and net realisable value, being the estimated selling price less the costs to complete and sell.

Cost is based on the cost of purchase on a first in, first out basis. Cost includes all costs of purchase, conversion and other costs in bringing the stock to its present location and condition.

At each reporting date, stock is assessed for impairment, obsolete and slow moving items.

Financial instruments
Basic financial instruments are recognised at amortised cost using the effective interest method, except for investments in non-convertible preference and non-puttable preference and ordinary shares, which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value, with changes recognised in profit and loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Allprint Supplies Limited (Registered number: 03744718)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Invoice financing facility
The company discounts its trade debts. The accounting policy is to include trade debtors within one year and the returnable element of the proceeds within current liabilities. Discounting charges and interest is charged to the profit and loss account when paid. Bad debts are borne by the company and are charged to the profit and loss account when incurred.

Investments
Investments in associates are recognised at the cost less any accumulated impairment.

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by geographical market is given below:

31.12.21 31.12.20
£    £   
United Kingdom 13,351,589 12,616,791
Europe 46,972 75,246
Rest of World 6,541 17,019
13,405,102 12,709,056

Allprint Supplies Limited (Registered number: 03744718)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

4. EMPLOYEES AND DIRECTORS
31.12.21 31.12.20
£    £   
Wages and salaries 2,121,352 2,254,266
Social security costs 171,104 265,486
Other pension costs 131,298 143,599
2,423,754 2,663,351

The average number of employees during the year was as follows:
31.12.21 31.12.20

Office and management 14 16
Production, distribution and selling 43 49
57 65

31.12.21 31.12.20
£    £   
Directors' remuneration 578,761 547,612
Directors' pension contributions to money purchase schemes 14,768 18,564

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 2 3

Information regarding the highest paid director is as follows:
31.12.21 31.12.20
£    £   
Emoluments etc 296,516 240,432
Pension contributions to money purchase schemes - 7,478

Allprint Supplies Limited (Registered number: 03744718)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

5. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

31.12.21 31.12.20
£    £   
Hire of plant and machinery 18,348 30,325
Other operating leases 499,888 499,888
Depreciation - owned assets 185,684 220,424
Depreciation - assets on hire purchase contracts 148,821 85,576
Profit on disposal of fixed assets (45,900 ) (11,289 )
Auditors' remuneration 12,000 17,750
Foreign exchange differences (31,456 ) 21,351

6. INTEREST PAYABLE AND SIMILAR EXPENSES
31.12.21 31.12.20
£    £   
Bank interest 35,160 9,045
Hire purchase 20,728 17,463
55,888 26,508

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31.12.21 31.12.20
£    £   
Current tax:
UK corporation tax 64,414 38,672

Deferred tax 27,578 18,046
Tax on profit 91,992 56,718

Allprint Supplies Limited (Registered number: 03744718)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

7. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

31.12.21 31.12.20
£    £   
Profit before tax 792,495 570,007
Profit multiplied by the standard rate of corporation tax in the UK
of 19% (2020 - 19%)

150,574

108,301

Effects of:
Expenses not deductible for tax purposes 572 347
Income not taxable for tax purposes (8,721 ) -
Depreciation in excess of capital allowances 8,229 -
R&D enhanced deduction (88,113 ) (51,930 )
Timing differences 29,451 -
Total tax charge 91,992 56,718

8. DIVIDENDS
31.12.21 31.12.20
£    £   
Ordinary shares of 50p each
Interim 200,000 -

Allprint Supplies Limited (Registered number: 03744718)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

9. TANGIBLE FIXED ASSETS
Improvements
Short to Plant and
leasehold property machinery
£    £    £   
COST
At 1 January 2021 57,491 42,495 1,805,862
Additions - - 10,033
Disposals - - (10,000 )
At 31 December 2021 57,491 42,495 1,805,895
DEPRECIATION
At 1 January 2021 26,897 37,357 721,234
Charge for year 3,832 4,913 168,173
Eliminated on disposal - - (6,229 )
At 31 December 2021 30,729 42,270 883,178
NET BOOK VALUE
At 31 December 2021 26,762 225 922,717
At 31 December 2020 30,594 5,138 1,084,628

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2021 534,036 514,046 2,953,930
Additions 346,616 29,588 386,237
Disposals (226,908 ) (7,500 ) (244,408 )
At 31 December 2021 653,744 536,134 3,095,759
DEPRECIATION
At 1 January 2021 381,618 457,324 1,624,430
Charge for year 145,680 11,907 334,505
Eliminated on disposal (153,675 ) (7,500 ) (167,404 )
At 31 December 2021 373,623 461,731 1,791,531
NET BOOK VALUE
At 31 December 2021 280,121 74,403 1,304,228
At 31 December 2020 152,418 56,722 1,329,500

Allprint Supplies Limited (Registered number: 03744718)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

9. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Improvements
to Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 January 2021 17,050 21,557 506,474 545,081
Additions - - 346,616 346,616
Disposals - - (226,908 ) (226,908 )
At 31 December 2021 17,050 21,557 626,182 664,789
DEPRECIATION
At 1 January 2021 13,640 10,304 344,335 368,279
Charge for year 3,410 1,688 143,723 148,821
Eliminated on disposal - - (153,675 ) (153,675 )
At 31 December 2021 17,050 11,992 334,383 363,425
NET BOOK VALUE
At 31 December 2021 - 9,565 291,799 301,364
At 31 December 2020 3,410 11,253 162,139 176,802

10. FIXED ASSET INVESTMENTS
Listed
investments
£   
COST
At 1 January 2021
and 31 December 2021 147,000
NET BOOK VALUE
At 31 December 2021 147,000
At 31 December 2020 147,000

The company's fixed asset investment relates to the investment in Nu-Coat Ltd, in which they have a 49% shareholding. The nature of business of Nu-Coat Ltd relates to manufacture of print media and has a registered office within the UK.

Nu-Coat Ltd had a capital reserves position at the year-end £22,002 (2020: £2,834) and made a profit for the year of £19,168 (2020: - £105,833).

Allprint Supplies Limited (Registered number: 03744718)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

11. STOCKS
31.12.21 31.12.20
£    £   
Finished goods 2,236,505 2,219,749

12. DEBTORS
31.12.21 31.12.20
£    £   
Amounts falling due within one year:
Trade debtors 1,933,610 1,504,871
Amounts owed by participating interests - 148,483
Prepayments and accrued income 421,420 318,797
2,355,030 1,972,151

Amounts falling due after more than one year:
Amounts owed by participating interests 870,730 557,100

Aggregate amounts 3,225,760 2,529,251

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Bank loans and overdrafts (see note 15) - 100,000
Hire purchase contracts (see note 16) 233,397 140,618
Trade creditors 1,220,220 1,039,160
Tax 62,541 20,557
Social security and other taxes 68,062 64,846
VAT 268,783 326,516
Invoices discounted with bank 83,910 279,005
Directors' loan accounts 439,958 423,842
Accruals and deferred income 90,969 64,184
2,467,840 2,458,728

14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.21 31.12.20
£    £   
Bank loans (see note 15) - 900,000
Hire purchase contracts (see note 16) 550,358 585,700
550,358 1,485,700

Allprint Supplies Limited (Registered number: 03744718)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

15. LOANS

An analysis of the maturity of loans is given below:

31.12.21 31.12.20
£    £   
Amounts falling due within one year or on demand:
Bank loans - 100,000

Amounts falling due between one and two years:
Bank loans - 1-2 years - 200,000

Amounts falling due between two and five years:
Bank loans - 2-5 years - 700,000

16. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.12.21 31.12.20
£    £   
Net obligations repayable:
Within one year 233,397 140,618
Between one and five years 550,358 585,700
783,755 726,318

Non-cancellable operating leases
31.12.21 31.12.20
£    £   
Within one year 474,227 474,227
Between one and five years 1,896,908 1,896,908
In more than five years 1,383,162 1,857,389
3,754,297 4,228,524

Allprint Supplies Limited (Registered number: 03744718)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

17. SECURED DEBTS

The following secured debts are included within creditors:

31.12.21 31.12.20
£    £   
Invoice financing facility 83,910 279,005
Hire Purchase agreements 783,755 726,318
867,665 1,005,323

The invoice discounting liability is secured by a fixed and floating charge over the assets of the company.
The hire purchase liabilities are secured on the assets to which the financing relates.

18. PROVISIONS FOR LIABILITIES
31.12.21 31.12.20
£    £   
Deferred tax
Accelerated capital allowances 122,230 94,652

Deferred Other
tax provisions
£    £   
Balance at 1 January 2021 94,652 -
Provided during year 27,578 15,316
Balance at 31 December 2021 122,230 15,316

19. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 31.12.21 31.12.20
value: £    £   
980,577 Ordinary 50p 490,289 490,289

Allprint Supplies Limited (Registered number: 03744718)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

20. RESERVES
Retained
earnings
£   

At 1 January 2021 2,884,225
Profit for the year 700,503
Dividends (200,000 )
At 31 December 2021 3,384,728

21. PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension costs represent the contributions payable by the company to the fund within the year and totalled to £131,298 (2020: £143,599).

22. RELATED PARTY DISCLOSURES

Included within Creditors due within one year are amounts of £439,958 (2020: £596,258) due to the directors of the company.

Included within Debtors due after more than one year are amounts of £784,600 (2020: £557,100) owed from an associate.

During the year the company made purchases of £1,524,748 (2020: £1,320,048) from an associate.

23. ULTIMATE CONTROLLING PARTY

The controlling party is Mr A G K Wallace.