IRIS Accounts Production v23.3.0.418 07737392 director 1.1.22 31.12.22 31.12.22 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure077373922021-12-31077373922022-12-31077373922022-01-012022-12-31077373922020-12-31077373922021-01-012021-12-31077373922021-12-3107737392ns16:EnglandWales2022-01-012022-12-3107737392ns15:PoundSterling2022-01-012022-12-3107737392ns11:Director12022-01-012022-12-3107737392ns11:PrivateLimitedCompanyLtd2022-01-012022-12-3107737392ns11:SmallEntities2022-01-012022-12-3107737392ns11:AuditExempt-NoAccountantsReport2022-01-012022-12-3107737392ns11:SmallCompaniesRegimeForDirectorsReport2022-01-012022-12-3107737392ns11:SmallCompaniesRegimeForAccounts2022-01-012022-12-3107737392ns11:FullAccounts2022-01-012022-12-3107737392ns11:OrdinaryShareClass12022-01-012022-12-3107737392ns11:RegisteredOffice2022-01-012022-12-3107737392ns6:CurrentFinancialInstruments2022-12-3107737392ns6:CurrentFinancialInstruments2021-12-3107737392ns6:Non-currentFinancialInstruments2022-12-3107737392ns6:Non-currentFinancialInstruments2021-12-3107737392ns6:ShareCapital2022-12-3107737392ns6:ShareCapital2021-12-3107737392ns6:RetainedEarningsAccumulatedLosses2022-12-3107737392ns6:RetainedEarningsAccumulatedLosses2021-12-3107737392ns6:PlantMachinery2022-01-012022-12-3107737392ns6:FurnitureFittings2022-01-012022-12-3107737392ns6:MotorVehicles2022-01-012022-12-3107737392ns6:ComputerEquipment2022-01-012022-12-3107737392ns6:ShortLeaseholdAssetsns6:LandBuildings2021-12-3107737392ns6:PlantMachinery2021-12-3107737392ns6:FurnitureFittings2021-12-3107737392ns6:ShortLeaseholdAssetsns6:LandBuildings2022-01-012022-12-3107737392ns6:ShortLeaseholdAssetsns6:LandBuildings2022-12-3107737392ns6:PlantMachinery2022-12-3107737392ns6:FurnitureFittings2022-12-3107737392ns6:ShortLeaseholdAssetsns6:LandBuildings2021-12-3107737392ns6:PlantMachinery2021-12-3107737392ns6:FurnitureFittings2021-12-3107737392ns6:MotorVehicles2021-12-3107737392ns6:ComputerEquipment2021-12-3107737392ns6:MotorVehicles2022-12-3107737392ns6:ComputerEquipment2022-12-3107737392ns6:MotorVehicles2021-12-3107737392ns6:ComputerEquipment2021-12-3107737392ns6:WithinOneYearns6:CurrentFinancialInstruments2022-12-3107737392ns6:WithinOneYearns6:CurrentFinancialInstruments2021-12-3107737392ns11:OrdinaryShareClass12022-12-31
REGISTERED NUMBER: 07737392 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2022

for

Simply Beautiful Print Limited

Simply Beautiful Print Limited (Registered number: 07737392)

Contents of the Financial Statements
for the Year Ended 31 December 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Simply Beautiful Print Limited

Company Information
for the Year Ended 31 December 2022







DIRECTOR: Mr M J Tyrrell





REGISTERED OFFICE: 126 Wish Hill
Eastbourne
East Sussex
BN20 9HL





REGISTERED NUMBER: 07737392 (England and Wales)





ACCOUNTANTS: SLP Advisory Limited
126 Wish Hill
Eastbourne
East Sussex
BN20 9HL

Simply Beautiful Print Limited (Registered number: 07737392)

Balance Sheet
31 December 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 231,900 17,418

CURRENT ASSETS
Stocks 15,000 15,000
Debtors 5 99,264 64,011
Cash at bank 1,141 8
115,405 79,019
CREDITORS
Amounts falling due within one year 6 137,778 125,797
NET CURRENT LIABILITIES (22,373 ) (46,778 )
TOTAL ASSETS LESS CURRENT LIABILITIES 209,527 (29,360 )

CREDITORS
Amounts falling due after more than one year 7 (377,969 ) (221,674 )

PROVISIONS FOR LIABILITIES (41,163 ) -
NET LIABILITIES (209,605 ) (251,034 )

CAPITAL AND RESERVES
Called up share capital 9 10 10
Retained earnings (209,615 ) (251,044 )
SHAREHOLDERS' FUNDS (209,605 ) (251,034 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 4 October 2023 and were signed by:




Mr M J Tyrrell - Director


Simply Beautiful Print Limited (Registered number: 07737392)

Notes to the Financial Statements
for the Year Ended 31 December 2022


1. STATUTORY INFORMATION

Simply Beautiful Print 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.

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The company has produced forecasts which indicate that it will have sufficient reserves to meet its liabilities as they fall due, and therefore the directors consider it appropriate to prepare the accounts on a going concern basis and have considered at least the next 12 months when assessing this.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - straight line over 3 years

Tangible fixed assets are included at cost less depreciation and impairment.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Simply Beautiful Print Limited (Registered number: 07737392)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022


2. ACCOUNTING POLICIES - continued

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year\, including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Investments in non-derivative instruments that are equity to the issuer are measured:
- at fair value with changes recognised in the Profit and loss account if the shares are publicly traded or their fair value can otherwise be measured reliably;
- at cost less impairment for all other investments.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and loss account.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on net basis or to realise the asset and settle the liability simultaneously.

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or income as appropriate. The company does not currently apply hedge accounting for interest rate and foreign exchange derivatives.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


Simply Beautiful Print Limited (Registered number: 07737392)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022


2. ACCOUNTING POLICIES - continued
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.

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. The assets of the scheme are held separately from those of the Company in an independently administered fund. Contributions totalling £1,939 (2020 - £93) were payable to the fund at the balance sheet date and are included in creditors.

Going concern
The company has a deficit on its balance sheet and relies upon the continuing support of the directors. On the basis that such support will be continuing for the foreseeable future, the director feels it appropriate to prepare the financial statements on a going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2021 - 4 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1 January 2022 4,760 298,988 4,894
Additions - 249,495 -
Disposals - (1,635 ) -
At 31 December 2022 4,760 546,848 4,894
DEPRECIATION
At 1 January 2022 2,380 297,236 3,762
Charge for year 476 63,886 919
Eliminated on disposal - (1,635 ) -
At 31 December 2022 2,856 359,487 4,681
NET BOOK VALUE
At 31 December 2022 1,904 187,361 213
At 31 December 2021 2,380 1,752 1,132

Simply Beautiful Print Limited (Registered number: 07737392)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022


4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2022 13,995 15,079 337,716
Additions 42,950 3,911 296,356
Disposals - - (1,635 )
At 31 December 2022 56,945 18,990 632,437
DEPRECIATION
At 1 January 2022 3,499 13,421 320,298
Charge for year 14,236 2,357 81,874
Eliminated on disposal - - (1,635 )
At 31 December 2022 17,735 15,778 400,537
NET BOOK VALUE
At 31 December 2022 39,210 3,212 231,900
At 31 December 2021 10,496 1,658 17,418

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 51,564 48,507
Other debtors 47,700 15,504
99,264 64,011

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 10,932 10,007
Hire purchase contracts 61,360 50,112
Trade creditors 32,511 35,425
Taxation and social security 10,586 17,749
Other creditors 22,389 12,504
137,778 125,797

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£    £   
Bank loans 37,515 43,504
Hire purchase contracts 192,334 8,219
Other creditors 148,120 169,951
377,969 221,674

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 13,515 19,504

Simply Beautiful Print Limited (Registered number: 07737392)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022


8. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£    £   
Hire purchase contracts 253,694 58,331

The hire purchase contracts are secured against the assets acquired under such agreements.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
10 Ordinary 1 10 10

10. 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. Contributions totalling £376 (2021: £404) were payable to the fund at the balance sheet date and are included in creditors.

11. ILLEGAL DIVIDENDS

The director acknowledges illegal dividends were declared and paid. The company has generated sufficient profit levels to support this dividend and no further distributions have been made.