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No description of principal activity
2022-03-01
Sage Accounts Production Advanced 2023 - FRS102_2023
28,000
11,200
2,800
14,000
14,000
16,800
12,482
10,659
23,141
6,695
3,192
9,887
13,254
5,787
xbrli:pure
xbrli:shares
iso4217:GBP
11198847
2022-03-01
2023-02-28
11198847
2023-02-28
11198847
2022-02-28
11198847
2021-03-01
2022-02-28
11198847
2022-02-28
11198847
2021-02-28
11198847
core:NetGoodwill
2022-03-01
2023-02-28
11198847
core:FurnitureFittings
2022-03-01
2023-02-28
11198847
bus:Director2
2022-03-01
2023-02-28
11198847
core:NetGoodwill
2022-02-28
11198847
core:NetGoodwill
2023-02-28
11198847
core:FurnitureFittings
2022-02-28
11198847
core:FurnitureFittings
2023-02-28
11198847
core:WithinOneYear
2023-02-28
11198847
core:WithinOneYear
2022-02-28
11198847
core:ShareCapital
2023-02-28
11198847
core:ShareCapital
2022-02-28
11198847
core:RetainedEarningsAccumulatedLosses
2023-02-28
11198847
core:RetainedEarningsAccumulatedLosses
2022-02-28
11198847
core:NetGoodwill
2022-02-28
11198847
core:FurnitureFittings
2022-02-28
11198847
bus:SmallEntities
2022-03-01
2023-02-28
11198847
bus:AuditExemptWithAccountantsReport
2022-03-01
2023-02-28
11198847
bus:SmallCompaniesRegimeForAccounts
2022-03-01
2023-02-28
11198847
bus:PrivateLimitedCompanyLtd
2022-03-01
2023-02-28
11198847
bus:FullAccounts
2022-03-01
2023-02-28
11198847
core:KeyManagementPersonnel
2022-03-01
2023-02-28
COMPANY REGISTRATION NUMBER:
11198847
Print Matters Kent Limited |
|
Filleted Unaudited Financial Statements |
|
Print Matters Kent Limited |
|
Year ended 28 February 2023
Statement of financial position |
1 |
|
|
Notes to the financial statements |
3 |
|
|
Print Matters Kent Limited |
|
Statement of Financial Position |
|
28 February 2023
Fixed assets
Intangible assets |
5 |
|
14,000 |
16,800 |
Tangible assets |
6 |
|
13,254 |
5,787 |
|
|
-------- |
-------- |
|
|
27,254 |
22,587 |
|
|
|
|
|
Current assets
Stocks |
10,000 |
|
4,000 |
Debtors |
7 |
14,087 |
|
7,962 |
Cash at bank and in hand |
132,486 |
|
155,653 |
|
--------- |
|
--------- |
|
156,573 |
|
167,615 |
|
|
|
|
|
Creditors: amounts falling due within one year |
8 |
103,634 |
|
140,064 |
|
--------- |
|
--------- |
Net current assets |
|
52,939 |
27,551 |
|
|
-------- |
-------- |
Total assets less current liabilities |
|
80,193 |
50,138 |
|
|
-------- |
-------- |
Net assets |
|
80,193 |
50,138 |
|
|
-------- |
-------- |
|
|
|
|
|
Capital and reserves
Called up share capital |
|
1 |
1 |
Profit and loss account |
|
80,192 |
50,137 |
|
|
-------- |
-------- |
Shareholders funds |
|
80,193 |
50,138 |
|
|
-------- |
-------- |
|
|
|
|
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 statement of income and retained earnings has not been delivered.
For the year ending 28 February 2023 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 financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
Print Matters Kent Limited |
|
Statement of Financial Position (continued) |
|
28 February 2023
These financial statements were approved by the
board of directors
and authorised for issue on
3 November 2023
, and are signed on behalf of the board by:
Company registration number:
11198847
Print Matters Kent Limited |
|
Notes to the Financial Statements |
|
Year ended 28 February 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 Station Road West, Canterbury, CT2 8AN, United Kingdom.
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.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current 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.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
|
Goodwill |
- |
10% straight line |
|
|
|
|
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
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 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:
|
Fixtures and fittings |
- |
20% straight line |
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Government grants
Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Financial instruments
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
4
(2022:
4
).
5.
Intangible assets
|
Goodwill |
|
£ |
Cost |
|
At 1 March 2022 and 28 February 2023 |
28,000 |
|
-------- |
Amortisation |
|
At 1 March 2022 |
11,200 |
Charge for the year |
2,800 |
|
-------- |
At 28 February 2023 |
14,000 |
|
-------- |
Carrying amount |
|
At 28 February 2023 |
14,000 |
|
-------- |
At 28 February 2022 |
16,800 |
|
-------- |
|
|
6.
Tangible assets
|
Fixtures and fittings |
|
£ |
Cost |
|
At 1 March 2022 |
12,482 |
Additions |
10,659 |
|
-------- |
At 28 February 2023 |
23,141 |
|
-------- |
Depreciation |
|
At 1 March 2022 |
6,695 |
Charge for the year |
3,192 |
|
-------- |
At 28 February 2023 |
9,887 |
|
-------- |
Carrying amount |
|
At 28 February 2023 |
13,254 |
|
-------- |
At 28 February 2022 |
5,787 |
|
-------- |
|
|
7.
Debtors
|
2023 |
2022 |
|
£ |
£ |
Trade debtors |
13,530 |
7,700 |
Other debtors |
557 |
262 |
|
-------- |
------- |
|
14,087 |
7,962 |
|
-------- |
------- |
|
|
|
8.
Creditors:
amounts falling due within one year
|
2023 |
2022 |
|
£ |
£ |
Bank loans and overdrafts |
43,982 |
49,537 |
Trade creditors |
1,610 |
5,122 |
Corporation tax |
9,907 |
8,171 |
Social security and other taxes |
197 |
2,766 |
Other creditors |
47,938 |
74,468 |
|
--------- |
--------- |
|
103,634 |
140,064 |
|
--------- |
--------- |
|
|
|
9.
Related party transactions
At the year end the company owed the Directors £45,040 (2022: £72,058).