Registered number
07498236
Melbourne Print Ltd
Filleted Accounts
31 March 2023
Melbourne Print Ltd
Registered number: 07498236
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 136,200 119,986
Current assets
Stocks 16,555 18,909
Debtors 5 31,904 28,251
Cash at bank and in hand 14,899 9,559
63,358 56,719
Creditors: amounts falling due within one year 6 (51,430) (22,709)
Net current assets 11,928 34,010
Net assets 148,128 153,996
Capital and reserves
Called up share capital 2 2
Profit and loss account 148,126 153,994
Shareholders' funds 148,128 153,996
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr P Wilson
Director
Approved by the board on 19 October 2023
Melbourne Print Ltd
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Fixtures, fittings, tools and equipment 20% RBM
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 8 8
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2022 29,491
At 31 March 2023 29,491
Amortisation
At 1 April 2022 29,491
At 31 March 2023 29,491
Net book value
At 31 March 2023 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 April 2022 88,663 98,115 9,303 196,081
Additions 23,061 1,145 - 24,206
At 31 March 2023 111,724 99,260 9,303 220,287
Depreciation
At 1 April 2022 1,773 65,559 8,763 76,095
Charge for the year 1,117 6,740 135 7,992
At 31 March 2023 2,890 72,299 8,898 84,087
Net book value
At 31 March 2023 108,834 26,961 405 136,200
At 31 March 2022 86,890 32,556 540 119,986
5 Debtors 2023 2022
£ £
Trade debtors 26,449 24,419
Other debtors 5,455 3,832
31,904 28,251
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 14,694 10,006
Taxation and social security costs 11,865 7,903
Other creditors 24,871 4,800
51,430 22,709
7 Loans from directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr P Wilson
Directors Loan Account 988 (88) 9,125 10,025
Mrs J Wilson
Directors Loan Account 987 (87) 9,125 10,025
1,975 (175) 18,250 20,050
8 Controlling party
The company is controlled by he directors by virtue is their shareholdings.
9 Other information
Melbourne Print Ltd is a private company limited by shares and incorporated in England. Its registered office is:
73 Derby Road
Melbourne
Derby
DE73 8FE
Melbourne Print Ltd 07498236 false 2022-04-01 2023-03-31 2023-03-31 VT Final Accounts October 2023 Mr P Wilson No description of principal activity 07498236 2021-04-01 2022-03-31 07498236 core:WithinOneYear 2022-03-31 07498236 core:ShareCapital 2022-03-31 07498236 core:RetainedEarningsAccumulatedLosses 2022-03-31 07498236 2022-04-01 2023-03-31 07498236 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 07498236 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 07498236 bus:Director40 2022-04-01 2023-03-31 07498236 1 2022-04-01 2023-03-31 07498236 2 2022-04-01 2023-03-31 07498236 core:LandBuildings 2022-04-01 2023-03-31 07498236 core:PlantMachinery 2022-04-01 2023-03-31 07498236 core:Vehicles 2022-04-01 2023-03-31 07498236 bus:Director1 2022-04-01 2023-03-31 07498236 bus:Director1 1 2022-04-01 2023-03-31 07498236 bus:Director2 2022-04-01 2023-03-31 07498236 bus:Director2 1 2022-04-01 2023-03-31 07498236 countries:England 2022-04-01 2023-03-31 07498236 bus:FRS102 2022-04-01 2023-03-31 07498236 bus:FullAccounts 2022-04-01 2023-03-31 07498236 2023-03-31 07498236 core:WithinOneYear 2023-03-31 07498236 core:ShareCapital 2023-03-31 07498236 core:RetainedEarningsAccumulatedLosses 2023-03-31 07498236 core:Goodwill 2023-03-31 07498236 core:LandBuildings 2023-03-31 07498236 core:PlantMachinery 2023-03-31 07498236 core:Vehicles 2023-03-31 07498236 bus:Director1 1 2023-03-31 07498236 bus:Director2 1 2023-03-31 07498236 2022-03-31 07498236 core:Goodwill 2022-03-31 07498236 core:LandBuildings 2022-03-31 07498236 core:PlantMachinery 2022-03-31 07498236 core:Vehicles 2022-03-31 07498236 bus:Director1 1 2022-03-31 07498236 bus:Director2 1 2022-03-31 iso4217:GBP xbrli:pure