Registered number
04485802
Bishops Printing Limited
Unaudited Filleted Accounts
30 September 2023
Bishops Printing Limited
Registered number: 04485802
Balance Sheet
as at 30 September 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 41,514 46,161
Current assets
Stocks 4,402 6,145
Debtors 5 34,358 41,896
Cash at bank and in hand 1,357 9,161
40,117 57,202
Creditors: amounts falling due within one year 6 (15,421) (20,259)
Net current assets 24,696 36,943
Total assets less current liabilities 66,210 83,104
Provisions for liabilities (1,872) (2,277)
Net assets 64,338 80,827
Capital and reserves
Called up share capital 100 100
Profit and loss account 64,238 80,727
Shareholders' funds 64,338 80,827
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 S Evans
Director
Approved by the board on 14 November 2023
Bishops Printing Limited
Notes to the Accounts
for the year ended 30 September 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). The financial statements are presented in sterling which is the functional currency of the company and are rounded to the nearest £.
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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Leasehold land and buildings 4% straight line
Plant and machinery over 5 years
Motor vehicles 20% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell.
Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable and payable within one year are recorded at transaction price. Any losses from impairment are recognised in the profit and loss account in other administrative expenses.
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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Research and devlopment tax relief
The Company accounts for research and development tax relief in the year in which the monies are received from HMRC.
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 4 5
3 Intangible fixed assets £
Goodwill:
Cost
At 1 October 2022 105,000
At 30 September 2023 105,000
Amortisation
At 1 October 2022 105,000
At 30 September 2023 105,000
Net book value
At 30 September 2023 -
Goodwill has been 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 October 2022 61,459 71,968 27,175 160,602
Additions - 917 - 917
At 30 September 2023 61,459 72,885 27,175 161,519
Depreciation
At 1 October 2022 24,328 67,497 22,616 114,441
Charge for the year 2,458 2,194 912 5,564
At 30 September 2023 26,786 69,691 23,528 120,005
Net book value
At 30 September 2023 34,673 3,194 3,647 41,514
At 30 September 2022 37,131 4,471 4,559 46,161
5 Debtors 2023 2022
£ £
Trade debtors 12,554 12,049
Amounts recoverable under contracts 3,654 4,053
Other debtors 18,150 25,794
34,358 41,896
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 7,395 13,996
Taxation and social security costs 7,804 5,433
Other creditors 222 830
15,421 20,259
7 Loans (to)/from directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Directors
Interest free loan, repayable on demand. (23,426) (23,413) 29,461 (17,378)
(23,426) (23,413) 29,461 (17,378)
8 Other information
Bishops Printing Limited is a private company limited by shares and incorporated in England. Its registered office is:
33 Queen Street
Barnstaple
Devon
EX32 8HG
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