13 false false false false false false false false false true false false false false false false No description of principal activity 2022-08-01 Sage Accounts Production Advanced 2021 - FRS102_2021 41,654 41,654 xbrli:pure xbrli:shares iso4217:GBP SC233383 2022-08-01 2023-07-31 SC233383 2023-07-31 SC233383 2022-07-31 SC233383 2021-08-01 2022-07-31 SC233383 2022-07-31 SC233383 core:NetGoodwill 2022-08-01 2023-07-31 SC233383 core:PlantMachinery 2022-08-01 2023-07-31 SC233383 core:FurnitureFittings 2022-08-01 2023-07-31 SC233383 core:MotorVehicles 2022-08-01 2023-07-31 SC233383 bus:Director1 2022-08-01 2023-07-31 SC233383 core:NetGoodwill 2023-07-31 SC233383 core:PlantMachinery 2022-07-31 SC233383 core:FurnitureFittings 2022-07-31 SC233383 core:MotorVehicles 2022-07-31 SC233383 core:PlantMachinery 2023-07-31 SC233383 core:FurnitureFittings 2023-07-31 SC233383 core:MotorVehicles 2023-07-31 SC233383 core:WithinOneYear 2023-07-31 SC233383 core:WithinOneYear 2022-07-31 SC233383 core:AfterOneYear 2023-07-31 SC233383 core:AfterOneYear 2022-07-31 SC233383 core:ShareCapital 2023-07-31 SC233383 core:ShareCapital 2022-07-31 SC233383 core:RetainedEarningsAccumulatedLosses 2023-07-31 SC233383 core:RetainedEarningsAccumulatedLosses 2022-07-31 SC233383 core:BetweenOneFiveYears 2023-07-31 SC233383 core:BetweenOneFiveYears 2022-07-31 SC233383 core:MoreThanFiveYears 2022-07-31 SC233383 core:PlantMachinery 2022-07-31 SC233383 core:FurnitureFittings 2022-07-31 SC233383 core:MotorVehicles 2022-07-31 SC233383 bus:SmallEntities 2022-08-01 2023-07-31 SC233383 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 SC233383 bus:FullAccounts 2022-08-01 2023-07-31 SC233383 bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 SC233383 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 SC233383 core:ComputerEquipment 2022-08-01 2023-07-31 SC233383 core:ComputerEquipment 2022-07-31 SC233383 core:ComputerEquipment 2023-07-31
COMPANY REGISTRATION NUMBER: SC233383
A4 Design & Print Ltd.
Filleted Unaudited Financial Statements
31 July 2023
A4 Design & Print Ltd.
Statement of Financial Position
31 July 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
6
98,608
111,033
Current assets
Stocks
8,310
Debtors
7
130,017
83,536
Cash at bank and in hand
42,101
116,297
---------
---------
180,428
199,833
Creditors: amounts falling due within one year
8
143,203
122,979
---------
---------
Net current assets
37,225
76,854
---------
---------
Total assets less current liabilities
135,833
187,887
Creditors: amounts falling due after more than one year
9
24,120
35,734
Provisions
Taxation including deferred tax
18,736
21,097
---------
---------
Net assets
92,977
131,056
---------
---------
Capital and reserves
Called up share capital
10,000
10,000
Profit and loss account
82,977
121,056
--------
---------
Shareholders funds
92,977
131,056
--------
---------
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 July 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 .
A4 Design & Print Ltd.
Statement of Financial Position (continued)
31 July 2023
These financial statements were approved by the board of directors and authorised for issue on 15 November 2023 , and are signed on behalf of the board by:
Mr D Ritchie
Director
Company registration number: SC233383
A4 Design & Print Ltd.
Notes to the Financial Statements
Year ended 31 July 2023
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 50 Seafield Road, Longman Industrial Estate, IV1 1SG, Inverness.
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.
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 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.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
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
-
20% 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:
Plant & Machinery
-
15% reducing balance
Fixtures & Fittings
-
15% reducing balance
Motor Vehicles
-
25% reducing balance
Equipment
-
25% reducing balance
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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
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.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. 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. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Financial instruments
The following assets and liabilities are classified as financial instruments - bank, trade debtors, trade creditors and directors' loans to the company. Cash and cash equivalents in the statement of financial position comprise cash at bank and in hand held on demand. Bank overdrafts are shown within creditors due within one year. Trade debtors and creditors are measured at the undiscounted amounts receivable from the customer or payable to a supplier, which is normally the invoiced price. Trade debtors are assessed at the end of each reporting period for the objective evidence of impairment. If such evidence is found, an impairment loss is recognised in the statement of income and retained earnings. Directors' loans to the company which are repayable on demand are measured at the undiscounted amount of the cash expected to be paid.
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. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 13 (2022: 13 ).
5. Intangible assets
Goodwill
£
Cost
At 1 August 2022 and 31 July 2023
41,654
--------
Amortisation
At 1 August 2022 and 31 July 2023
41,654
--------
Carrying amount
At 31 July 2023
--------
At 31 July 2022
--------
6. Tangible assets
Plant and machinery
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1 August 2022
539,511
5,345
4,250
51,150
600,256
Additions
5,487
655
6,142
Disposals
( 1,270)
( 1,270)
---------
-------
-------
--------
---------
At 31 July 2023
539,511
5,345
9,737
50,535
605,128
---------
-------
-------
--------
---------
Depreciation
At 1 August 2022
431,413
4,782
4,226
48,802
489,223
Charge for the year
16,215
84
1,378
703
18,380
Disposals
( 1,083)
( 1,083)
---------
-------
-------
--------
---------
At 31 July 2023
447,628
4,866
5,604
48,422
506,520
---------
-------
-------
--------
---------
Carrying amount
At 31 July 2023
91,883
479
4,133
2,113
98,608
---------
-------
-------
--------
---------
At 31 July 2022
108,098
563
24
2,348
111,033
---------
-------
-------
--------
---------
7. Debtors
2023
2022
£
£
Trade debtors
84,171
75,551
Other debtors
45,846
7,985
---------
--------
130,017
83,536
---------
--------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
9,900
9,900
Trade creditors
36,799
33,875
Corporation tax
2,690
8,426
Social security and other taxes
10,463
10,323
Other creditors
83,351
60,455
---------
---------
143,203
122,979
---------
---------
The bank loans and overdraft are secured by bond and floating charge over all the assets of the company.
Obligations under hire purchase and finance leases of £2,000 (2022 - £2,000) shown as other creditors are secured on the assets concerned.
9. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
21,287
30,901
Other creditors
2,833
4,833
--------
--------
24,120
35,734
--------
--------
The bank loans and overdraft are secured by bond and floating charge over all the assets of the company.
The bank loan has a 12 month capital repayment holiday and thereafter is repayable over 60 instalments. The interest rate charged is fixed at 2.5% per annum.
Obligations under hire purchase and finance leases of £2,833 (2022 - £4,833) shown as other creditors are secured on the assets concerned.
10. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2023
2022
£
£
Not later than 1 year
56,338
59,608
Later than 1 year and not later than 5 years
154,924
191,255
Later than 5 years
13,167
---------
---------
211,262
264,030
---------
---------
11. Related party transactions
Included within creditors due within one year is £74,105 (2022 - £51,990) due to the directors. Dividends paid to the directors during the year amounted to £36,500 (2022 - £36,500).