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Company Registration No. 11250677 (England and Wales)
The Really Useful Poster Company Ltd Unaudited accounts for the year ended 29 February 2024
The Really Useful Poster Company Ltd Unaudited accounts Contents
Page
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The Really Useful Poster Company Ltd Company Information for the year ended 29 February 2024
Director
Domenico Arenare
Secretary
Domenico Arenare, ESquare Ltd
Company Number
11250677 (England and Wales)
Registered Office
VILLA HOUSE 7 HERBERT TERRACE PENARTH CF64 2AH WALES
Accountants
Evans Entwistle Villa House 7 Herbert Terrace Penarth Vale of Glamorgan CF64 2AH
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The Really Useful Poster Company Ltd Statement of financial position as at 29 February 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
9,394 
4,103 
Tangible assets
1,227 
1,807 
10,621 
5,910 
Current assets
Inventories
14,177 
26,829 
Debtors
9,223 
11,118 
Cash at bank and in hand
5,605 
17,430 
29,005 
55,377 
Creditors: amounts falling due within one year
(25,915)
(28,539)
Net current assets
3,090 
26,838 
Total assets less current liabilities
13,711 
32,748 
Creditors: amounts falling due after more than one year
(42,435)
(35,443)
Provisions for liabilities
Deferred tax
(233)
(1,478)
Net liabilities
(28,957)
(4,173)
Capital and reserves
Called up share capital
1,000 
1,000 
Profit and loss account
(29,957)
(5,173)
Shareholders' funds
(28,957)
(4,173)
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 11 April 2002 and were signed on its behalf by
Domenico Arenare Director Company Registration No. 11250677
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The Really Useful Poster Company Ltd Notes to the Accounts for the year ended 29 February 2024
1
Statutory information
The Really Useful Poster Company Ltd is a private company, limited by shares, registered in England and Wales, registration number 11250677. The registered office is VILLA HOUSE, 7 HERBERT TERRACE, PENARTH, CF64 2AH, WALES.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
3 years straight line / 4 years straight line
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. Intangible fixed assets (excluding purchased goodwill) are being written off over 5 years straight line.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
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The Really Useful Poster Company Ltd Notes to the Accounts for the year ended 29 February 2024
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
4
Intangible fixed assets
Other 
£ 
Cost
At 1 March 2023
4,319 
Additions
7,222 
At 29 February 2024
11,541 
Amortisation
At 1 March 2023
216 
Charge for the year
1,931 
At 29 February 2024
2,147 
Net book value
At 29 February 2024
9,394 
At 28 February 2023
4,103 
5
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 March 2023
2,752 
At 29 February 2024
2,752 
Depreciation
At 1 March 2023
945 
Charge for the year
580 
At 29 February 2024
1,525 
Net book value
At 29 February 2024
1,227 
At 28 February 2023
1,807 
6
Inventories
2024 
2023 
£ 
£ 
Finished goods
14,177 
26,829 
14,177 
26,829 
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The Really Useful Poster Company Ltd Notes to the Accounts for the year ended 29 February 2024
7
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
2,601 
2,419 
Accrued income and prepayments
716 
1,340 
Other debtors
5,906 
7,359 
9,223 
11,118 
8
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
10,855 
11,869 
Trade creditors
2,331 
3,735 
Taxes and social security
131 
612 
Other creditors
11,198 
10,602 
Accruals
1,400 
1,721 
25,915 
28,539 
9
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
36,293 
35,289 
Loans from directors
6,142 
154 
42,435 
35,443 
10
Deferred taxation
2024 
2023 
£ 
£ 
Accelerated capital allowances
233 
1,478 
2024 
2023 
£ 
£ 
Provision at start of year
1,478 
111 
(Credited)/charged to the profit and loss account
(1,245)
1,367 
Provision at end of year
233 
1,478 
11
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
1,000 Ordinary shares of £1 each
1,000 
1,000 
12
Average number of employees
During the year the average number of employees was 1 (2023: 2).
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