Caseware UK (AP4) 2022.0.179 2022.0.179 2023-04-052023-04-05The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.true122022-04-06falsePrinting press13true 01370744 2022-04-06 2023-04-05 01370744 2021-04-06 2022-04-05 01370744 2023-04-05 01370744 2022-04-05 01370744 c:Director1 2022-04-06 2023-04-05 01370744 d:Buildings 2022-04-06 2023-04-05 01370744 d:Buildings 2023-04-05 01370744 d:Buildings 2022-04-05 01370744 d:Buildings d:OwnedOrFreeholdAssets 2022-04-06 2023-04-05 01370744 d:LandBuildings 2023-04-05 01370744 d:LandBuildings 2022-04-05 01370744 d:PlantMachinery 2022-04-06 2023-04-05 01370744 d:PlantMachinery 2023-04-05 01370744 d:PlantMachinery 2022-04-05 01370744 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-04-06 2023-04-05 01370744 d:MotorVehicles 2022-04-06 2023-04-05 01370744 d:MotorVehicles 2023-04-05 01370744 d:MotorVehicles 2022-04-05 01370744 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-04-06 2023-04-05 01370744 d:FurnitureFittings 2022-04-06 2023-04-05 01370744 d:FurnitureFittings 2023-04-05 01370744 d:FurnitureFittings 2022-04-05 01370744 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-04-06 2023-04-05 01370744 d:OfficeEquipment 2022-04-06 2023-04-05 01370744 d:OfficeEquipment 2023-04-05 01370744 d:OfficeEquipment 2022-04-05 01370744 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-04-06 2023-04-05 01370744 d:OwnedOrFreeholdAssets 2022-04-06 2023-04-05 01370744 d:Goodwill 2023-04-05 01370744 d:Goodwill 2022-04-05 01370744 d:CurrentFinancialInstruments 2023-04-05 01370744 d:CurrentFinancialInstruments 2022-04-05 01370744 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-05 01370744 d:CurrentFinancialInstruments d:WithinOneYear 2022-04-05 01370744 d:ShareCapital 2023-04-05 01370744 d:ShareCapital 2022-04-05 01370744 d:RetainedEarningsAccumulatedLosses 2023-04-05 01370744 d:RetainedEarningsAccumulatedLosses 2022-04-05 01370744 d:AcceleratedTaxDepreciationDeferredTax 2023-04-05 01370744 d:AcceleratedTaxDepreciationDeferredTax 2022-04-05 01370744 c:OrdinaryShareClass1 2022-04-06 2023-04-05 01370744 c:OrdinaryShareClass1 2023-04-05 01370744 c:OrdinaryShareClass1 2022-04-05 01370744 c:FRS102 2022-04-06 2023-04-05 01370744 c:AuditExempt-NoAccountantsReport 2022-04-06 2023-04-05 01370744 c:FullAccounts 2022-04-06 2023-04-05 01370744 c:PrivateLimitedCompanyLtd 2022-04-06 2023-04-05 01370744 2 2022-04-06 2023-04-05 01370744 6 2022-04-06 2023-04-05 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 01370744









NORTH SHROPSHIRE PRINTING COMPANY LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 5 APRIL 2023

 
NORTH SHROPSHIRE PRINTING COMPANY LIMITED
REGISTERED NUMBER: 01370744

BALANCE SHEET
AS AT 5 APRIL 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
295,991
278,521

Investments
 6 
2,535
2,535

  
298,526
281,056

Current assets
  

Stocks
  
29,794
27,008

Debtors: amounts falling due within one year
 7 
45,194
41,418

Cash at bank and in hand
 8 
354,107
397,839

  
429,095
466,265

Creditors: amounts falling due within one year
 9 
(15,707)
(27,850)

Net current assets
  
 
 
413,388
 
 
438,415

Total assets less current liabilities
  
711,914
719,471

Provisions for liabilities
  

Deferred tax
 10 
(20,070)
(14,284)

  
 
 
(20,070)
 
 
(14,284)

Net assets
  
691,844
705,187


Capital and reserves
  

Called up share capital 
 11 
5,000
5,000

Profit and loss account
  
686,844
700,187

  
691,844
705,187


Page 1

 
NORTH SHROPSHIRE PRINTING COMPANY LIMITED
REGISTERED NUMBER: 01370744
    
BALANCE SHEET (CONTINUED)
AS AT 5 APRIL 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Mr R A Parsons
Director
Date: 2 November 2023

The notes on pages 3 to 12 form part of these financial statements.

Page 2

 
NORTH SHROPSHIRE PRINTING COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023

1.


General information

North Shropshire Printing Company Limited is a private limited company, limited by shares, incorporated in England and Wales, with its registered office and principal place of business at 59 Noble Street, Wem, Shropshire, SY4 5DT

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
NORTH SHROPSHIRE PRINTING COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023

2.Accounting policies (continued)

 
2.3

Operating leases: the Company as lessee

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

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Profit and loss account in the same period as the related expenditure.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
NORTH SHROPSHIRE PRINTING COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023

2.Accounting policies (continued)

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.8

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 5

 
NORTH SHROPSHIRE PRINTING COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the following methods.

Depreciation is provided on the following basis:

Freehold property
-
2%
on cost
Plant and machinery
-
10%
on cost
Motor vehicles
-
20%
on cost
Fixtures and fittings
-
10%
-33% on cost
Office equipment
-
33%
on cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Profit and loss account for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 6

 
NORTH SHROPSHIRE PRINTING COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023

2.Accounting policies (continued)

 
2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.14

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.15

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

 
2.16

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.

 
2.17

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 12 (2022 - 13).

Page 7

 
NORTH SHROPSHIRE PRINTING COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023

4.


Intangible assets




Goodwill

£



Cost


At 6 April 2022
15,000



At 5 April 2023

15,000



Amortisation


At 6 April 2022
15,000



At 5 April 2023

15,000



Net book value



At 5 April 2023
-



At 5 April 2022
-



Page 8

 
NORTH SHROPSHIRE PRINTING COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023

5.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£
£
£



Cost or valuation


At 6 April 2022
243,769
618,706
17,628
9,395
23,074
912,572


Additions
-
45,185
-
-
684
45,869


Disposals
-
(1,831)
-
-
(5,462)
(7,293)



At 5 April 2023

243,769
662,060
17,628
9,395
18,296
951,148



Depreciation


At 6 April 2022
36,821
547,315
17,628
9,213
23,074
634,051


Charge for the year on owned assets
3,076
24,915
-
180
228
28,399


Disposals
-
(1,831)
-
-
(5,462)
(7,293)



At 5 April 2023

39,897
570,399
17,628
9,393
17,840
655,157



Net book value



At 5 April 2023
203,872
91,661
-
2
456
295,991



At 5 April 2022
206,948
71,391
-
182
-
278,521




The net book value of land and buildings may be further analysed as follows:


2023
2022
£
£

Freehold
203,872
206,948

203,872
206,948


Page 9

 
NORTH SHROPSHIRE PRINTING COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023

6.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 6 April 2022
2,535



At 5 April 2023
2,535





7.


Debtors

2023
2022
£
£


Trade debtors
28,197
29,590

Amounts owed by group undertakings
3,990
8,998

Other debtors
10,010
-

Prepayments and accrued income
2,997
2,830

45,194
41,418



8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
354,107
397,839

354,107
397,839


Page 10

 
NORTH SHROPSHIRE PRINTING COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023

9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
10,167
13,510

Corporation tax
-
5,844

Other taxation and social security
2,028
5,096

Other creditors
112
250

Accruals and deferred income
3,400
3,150

15,707
27,850



10.


Deferred taxation




2023


£






At beginning of year
(14,284)


Charged to profit or loss
(5,786)



At end of year
(20,070)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
20,070
14,284

20,070
14,284


11.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



5,000 (2022 - 5,000) Ordinary £1 Shares shares of £1.00 each
5,000
5,000


Page 11

 
NORTH SHROPSHIRE PRINTING COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023

12.


Pension commitments

The company operates a defined contributions penison scheme. The assets of the scheme are held separately from those of the Company in an independently admministered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £44,862 (2022: £45,029). Contributions totalling £114 (2022- £248) were payable to the fund at the balance sheet date.

 
Page 12