0 true false false false false false false false false true false false false false false false No description of principal activity 2022-04-01 Sage Accounts Production Advanced 2021 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 02353508 2022-04-01 2023-03-31 02353508 2023-03-31 02353508 2022-03-31 02353508 2022-03-31 02353508 core:PlantMachinery 2022-04-01 2023-03-31 02353508 core:FurnitureFittings 2022-04-01 2023-03-31 02353508 bus:RegisteredOffice 2022-04-01 2023-03-31 02353508 bus:LeadAgentIfApplicable 2022-04-01 2023-03-31 02353508 bus:Director1 2022-04-01 2023-03-31 02353508 core:LandBuildings core:OwnedOrFreeholdAssets 2022-03-31 02353508 core:PlantMachinery 2022-03-31 02353508 core:FurnitureFittings 2022-03-31 02353508 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-31 02353508 core:PlantMachinery 2023-03-31 02353508 core:FurnitureFittings 2023-03-31 02353508 core:WithinOneYear 2023-03-31 02353508 core:WithinOneYear 2022-03-31 02353508 core:LandBuildings core:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 02353508 core:ShareCapital 2023-03-31 02353508 core:ShareCapital 2022-03-31 02353508 core:OtherReservesSubtotal 2023-03-31 02353508 core:OtherReservesSubtotal 2022-03-31 02353508 core:RetainedEarningsAccumulatedLosses 2023-03-31 02353508 core:RetainedEarningsAccumulatedLosses 2022-03-31 02353508 core:LandBuildings core:OwnedOrFreeholdAssets 2022-03-31 02353508 core:PlantMachinery 2022-03-31 02353508 core:FurnitureFittings 2022-03-31 02353508 bus:Director1 2022-03-31 02353508 bus:Director1 2023-03-31 02353508 bus:Director1 2021-03-31 02353508 bus:Director1 2022-03-31 02353508 bus:Director1 2021-04-01 2022-03-31 02353508 bus:SmallEntities 2022-04-01 2023-03-31 02353508 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 02353508 bus:FullAccounts 2022-04-01 2023-03-31 02353508 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 02353508 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31
COMPANY REGISTRATION NUMBER: 02353508
Printing & Rollercoating Co Ltd
Filleted Unaudited Financial Statements
31 March 2023
Printing & Rollercoating Co Ltd
Financial Statements
Year ended 31 March 2023
Contents
Pages
Officers and professional advisers
1
Statement of financial position
2 to 3
Notes to the financial statements
4 to 6
Printing & Rollercoating Co Ltd
Officers and Professional Advisers
Director Mr G Pearcy
- Director
Registered office
4 Church Gardens
Mansfield Woodhouse
Nottinghamshire
NG19 9JF
Accountants
Gregory Priestley & Stewart
Chartered Accountants
Alexandra House
123 Priestsic Road
Sutton in Ashfield
Nottinghamshire
NG17 4EA
Printing & Rollercoating Co Ltd
Statement of Financial Position
31 March 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
4
302,045
205,533
Current assets
Cash at bank and in hand
68
156
Creditors: amounts falling due within one year
5
83,572
83,092
--------
--------
Net current liabilities
83,504
82,936
---------
---------
Total assets less current liabilities
218,541
122,597
Provisions
29,503
24,592
---------
---------
Net assets
189,038
98,005
---------
---------
Capital and reserves
Called up share capital
100
100
fair value reserve
181,358
100,358
Profit and loss account
7,580
( 2,453)
---------
---------
Shareholders funds
189,038
98,005
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Printing & Rollercoating Co Ltd
Statement of Financial Position (continued)
31 March 2023
These financial statements were approved by the board of directors and authorised for issue on 4 September 2023 , and are signed on behalf of the board by:
Mr G Pearcy
Director
Company registration number: 02353508
Printing & Rollercoating Co Ltd
Notes to the Financial Statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 4 Church Gardens, Mansfield Woodhouse, Nottinghamshire, NG19 9JF.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
15% reducing balance
Fixtures and fittings
-
15% reducing balance
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are shown in the profit and loss and transferred to a fair value reserve.
Financial instruments
The company only enters into basic financial instruments 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.
4. Tangible assets
Freehold property
Plant and machinery
Fixtures and fittings
Total
£
£
£
£
Cost or valuation
At 1 April 2022
200,000
48,271
3,111
251,382
Disposals
( 26,470)
( 975)
( 27,445)
Revaluations
100,000
100,000
---------
--------
-------
---------
At 31 March 2023
300,000
21,801
2,136
323,937
---------
--------
-------
---------
Depreciation
At 1 April 2022
43,408
2,441
45,849
Charge for the year
313
48
361
Disposals
( 23,696)
( 622)
( 24,318)
---------
--------
-------
---------
At 31 March 2023
20,025
1,867
21,892
---------
--------
-------
---------
Carrying amount
At 31 March 2023
300,000
1,776
269
302,045
---------
--------
-------
---------
At 31 March 2022
200,000
4,863
670
205,533
---------
--------
-------
---------
Included within the above is investment property as follows:
£
At 1 April 2022
200,000
Fair value adjustments
100,000
---------
At 31 March 2023
300,000
---------
Investment Property was valued by the directors at the reporting date.
5. Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
83,572
83,092
--------
--------
6. Fair value reserve
The following movements on the fair value reserve are included within fair value reserve in the statement of changes in equity:
2023
2022
£
£
At start of year
100,358
Fair value adjustment on investment property
100,000
100,358
Tax relating to components of other comprehensive income
(19,000)
---------
---------
At end of year
181,358
100,358
---------
---------
7. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2023
Balance brought forward
Amounts repaid
Balance outstanding
£
£
£
Mr G Pearcy
( 82,372)
( 480)
( 82,852)
--------
----
--------
2022
Balance brought forward
Amounts repaid
Balance outstanding
£
£
£
Mr G Pearcy
( 81,879)
( 493)
( 82,372)
--------
----
--------