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Southpaw Printing Limited

Financial Statements for the Year Ended 28 February 2023






Southpaw Printing Limited (Registered number: 10599550)






Contents of the Financial Statements
for the year ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Southpaw Printing Limited

Company Information
for the year ended 28 February 2023







DIRECTOR: Mr P Beverley





REGISTERED OFFICE: 36a Howardsgate
Welwyn Garden City
Hertfordshire
AL8 6BJ





REGISTERED NUMBER: 10599550 (England and Wales)





ACCOUNTANTS: Hargreaves Owen Ltd
Red Sky House
Fairclough Hall, Halls Green
Weston
Hertfordshire
SG4 7DP

Southpaw Printing Limited (Registered number: 10599550)

Balance Sheet
28 February 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 18,000
Tangible assets 5 16,286 16,634
16,286 34,634

CURRENT ASSETS
Stocks 5,750 4,500
Debtors 6 16,936 10,631
Cash at bank 43,521 60,259
66,207 75,390
CREDITORS
Amounts falling due within one year 7 40,699 53,420
NET CURRENT ASSETS 25,508 21,970
TOTAL ASSETS LESS CURRENT
LIABILITIES

41,794

56,604

CREDITORS
Amounts falling due after more than one
year

8

41,670

56,500
NET ASSETS 124 104

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 24 4
SHAREHOLDERS' FUNDS 124 104

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Southpaw Printing Limited (Registered number: 10599550)

Balance Sheet - continued
28 February 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 November 2023 and were signed by:





Mr P Beverley - Director


Southpaw Printing Limited (Registered number: 10599550)

Notes to the Financial Statements
for the year ended 28 February 2023

1. STATUTORY INFORMATION

Southpaw Printing Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

Southpaw Printing Limited (Registered number: 10599550)

Notes to the Financial Statements - continued
for the year ended 28 February 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2022
and 28 February 2023 90,000
AMORTISATION
At 1 March 2022 72,000
Charge for year 18,000
At 28 February 2023 90,000
NET BOOK VALUE
At 28 February 2023 -
At 28 February 2022 18,000

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 March 2022 36,756 5,206 11,720 53,682
Additions 6,178 2,880 - 9,058
Disposals (9,825 ) - - (9,825 )
At 28 February 2023 33,109 8,086 11,720 52,915
DEPRECIATION
At 1 March 2022 23,443 2,861 10,744 37,048
Charge for year 4,005 1,307 622 5,934
Eliminated on disposal (6,353 ) - - (6,353 )
At 28 February 2023 21,095 4,168 11,366 36,629
NET BOOK VALUE
At 28 February 2023 12,014 3,918 354 16,286
At 28 February 2022 13,313 2,345 976 16,634

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 14,404 10,472
Directors' current accounts 2,532 159
16,936 10,631

Southpaw Printing Limited (Registered number: 10599550)

Notes to the Financial Statements - continued
for the year ended 28 February 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 8,380 5,000
Other loans 8,400 9,040
Trade creditors 7,920 4,202
Corporation tax 8,267 7,586
PAYE 647 447
VAT 2,060 1,942
Other creditors 4,000 24,000
Pension fund - 178
Accrued expenses 1,025 1,025
40,699 53,420

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 2-5 years 29,420 52,500
Bank loans due > 5 yrs 12,250 -
Other creditors - 4,000
41,670 56,500

Amounts falling due in more than five years:

Repayable by instalments
Bank loans due > 5 yrs 12,250 -