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REGISTERED NUMBER: 01815492 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MAY 2023

FOR

CUSTOM PRINT LIMITED

CUSTOM PRINT LIMITED (REGISTERED NUMBER: 01815492)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31st May 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CUSTOM PRINT LIMITED

COMPANY INFORMATION
for the Year Ended 31st May 2023







DIRECTORS: D G Casstles
G Casstles
R I G Casstles-Bathie





SECRETARY: D G Casstles





REGISTERED OFFICE: 100 Barbirolli Square
Manchester
M2 3BD





REGISTERED NUMBER: 01815492 (England and Wales)





ACCOUNTANTS: KJG
100 Barbirolli Square
Manchester
M2 3BD

CUSTOM PRINT LIMITED (REGISTERED NUMBER: 01815492)

BALANCE SHEET
31st May 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 476,378 472,491

CURRENT ASSETS
Stocks 2,000 2,000
Debtors 5 183,987 119,204
Cash at bank 7,878 52,078
193,865 173,282
CREDITORS
Amounts falling due within one year 6 (177,639 ) (160,117 )
NET CURRENT ASSETS 16,226 13,165
TOTAL ASSETS LESS CURRENT LIABILITIES 492,604 485,656

CREDITORS
Amounts falling due after more than one
year

7

(148,174

)

(156,171

)

PROVISIONS FOR LIABILITIES (77,660 ) (76,656 )
NET ASSETS 266,770 252,829

CAPITAL AND RESERVES
Called up share capital 9 4 4
Revaluation reserve 10 229,142 229,142
Retained earnings 37,624 23,683
SHAREHOLDERS' FUNDS 266,770 252,829

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

CUSTOM PRINT LIMITED (REGISTERED NUMBER: 01815492)

BALANCE SHEET - continued
31st May 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18th January 2024 and were signed on its behalf by:





D G Casstles - Director


CUSTOM PRINT LIMITED (REGISTERED NUMBER: 01815492)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31st May 2023


1. STATUTORY INFORMATION

Custom Print Limited is a private company, limited by shares, registered in England and Wales, registration number 01815492. The address of the registered office is 100 Barbirolli Square, Manchester, M2 3BD. The address of the principal place of business is 13-23 Naylor Street, Liverpool, L3 6DR.

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 as modified by the revaluation of certain assets.

Turnover
Turnover represents amounts recognised by the company in respect of goods and services supplied, exclusive of Value Added Tax and trade discounts. Turnover principally consists of providing a printing service which is recognised at the point of which the goods or services are provided.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation on tangible fixed assets are charged to the profit and loss so as to write off their value, over their estimated useful lives, using the following methods:

Plant and machinery-25% on reducing balance
Fixtures and fittings-10/20% on reducing balance and 20% on cost
Motor vehicles-25% on reducing balance

At each balance sheet date, the company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items of tangible fixed assets have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately.

Stocks
Stocks are stated at the lower of cost and selling price less cost of selling, after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


CUSTOM PRINT LIMITED (REGISTERED NUMBER: 01815492)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st May 2023


2. ACCOUNTING POLICIES - continued
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

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.

Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank.

Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

Hire purchase and finance lease agreements
Assets held under hire purchase or finance lease agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account on a straight-line basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 11 ) .

CUSTOM PRINT LIMITED (REGISTERED NUMBER: 01815492)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st May 2023


4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST OR VALUATION
At 1st June 2022 350,000 882,315 71,439 10,750 1,314,504
Additions - 39,646 - - 39,646
At 31st May 2023 350,000 921,961 71,439 10,750 1,354,150
DEPRECIATION
At 1st June 2022 - 764,570 68,008 9,435 842,013
Charge for year - 34,803 627 329 35,759
At 31st May 2023 - 799,373 68,635 9,764 877,772
NET BOOK VALUE
At 31st May 2023 350,000 122,588 2,804 986 476,378
At 31st May 2022 350,000 117,745 3,431 1,315 472,491

Cost or valuation at 31st May 2023 is represented by:

Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
Valuation in 2022 276,076 - - - 276,076
Cost 73,924 921,961 71,439 10,750 1,078,074
350,000 921,961 71,439 10,750 1,354,150

If land and buildings had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 73,924 73,924

The Freehold Property was valued on an open market basis on 4th March 2021 by D Walsh MSc MRICS of SK Real estate .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 170,488 105,895
Other debtors 13,499 13,309
183,987 119,204

CUSTOM PRINT LIMITED (REGISTERED NUMBER: 01815492)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st May 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 19,096 20,577
Hire purchase contracts 13,740 1,725
Trade creditors 110,946 84,412
Taxation and social security 9,713 31,796
Other creditors 24,144 21,607
177,639 160,117

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 111,556 128,783
Hire purchase contracts 16,986 -
Other creditors 19,632 27,388
148,174 156,171

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 54,784 56,476

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 130,652 149,360
Hire purchase contracts 30,726 1,725
161,378 151,085

Bank loans are secured against the assets of the company. Hire purchase contracts are secured against the assets to which they relate.

CUSTOM PRINT LIMITED (REGISTERED NUMBER: 01815492)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st May 2023


9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Nominal 2023 2022
Number: Class: Value: £ £
1 Ordinary A £1.00 1 1
1 Ordinary B £1.00 1 1
1 Ordinary C £1.00 1 1
1 Ordinary D £1.00 1 1
4 4

10. RESERVES
Revaluation
reserve
£   
At 1st June 2022
and 31st May 2023 229,142