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Company registration number: 03882182

SJL PrintMedia Limited

Filleted Unaudited Financial Statements

for the Year Ended 31 July 2023

 

SJL PrintMedia Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 10

 

SJL PrintMedia Limited

Company Information

Directors

Mr SA Sturdy

Mr SA Sturdy

Mr M D Stothers

Registered office

15 Selby Place
Stanley Industrial Estate
Skelmersdale
Lancashire
WN8 8EF

Accountants

Abrams Ashton Ltd
Chartered Accountants
7 Waterside Court
St. Helens
Merseyside
WA9 1UA

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
SJL PrintMedia Limited
for the Year Ended 31 July 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of SJL PrintMedia Limited for the year ended 31 July 2023 as set out on pages 3 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of SJL PrintMedia Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of SJL PrintMedia Limited and state those matters that we have agreed to state to the Board of Directors of SJL PrintMedia Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than SJL PrintMedia Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that SJL PrintMedia Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of SJL PrintMedia Limited. You consider that SJL PrintMedia Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of SJL PrintMedia Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Abrams Ashton Ltd
Chartered Accountants
7 Waterside Court
St. Helens
Merseyside
WA9 1UA

13 February 2024

 

SJL PrintMedia Limited

(Registration number: 03882182)
Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

48,000

64,000

Tangible assets

5

27,209

18,863

 

75,209

82,863

Current assets

 

Stocks

240,470

226,360

Debtors

6

869,616

757,936

Cash at bank and in hand

 

179,343

136,907

 

1,289,429

1,121,203

Creditors: Amounts falling due within one year

7

(431,593)

(430,952)

Net current assets

 

857,836

690,251

Total assets less current liabilities

 

933,045

773,114

Provisions for liabilities

(5,269)

(2,341)

Net assets

 

927,776

770,773

Capital and reserves

 

Called up share capital

2

2

Retained earnings

927,774

770,771

Shareholders' funds

 

927,776

770,773

For the financial 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 13 February 2024 and signed on its behalf by:
 

 

SJL PrintMedia Limited

(Registration number: 03882182)
Balance Sheet as at 31 July 2023

.........................................
Mr SA Sturdy
Director

 

SJL PrintMedia Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
15 Selby Place
Stanley Industrial Estate
Skelmersdale
Lancashire
WN8 8EF
England

These financial statements were authorised for issue by the Board on 13 February 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention. The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

SJL PrintMedia Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Short leasehold property

5% straight line

Fixtures fittings and equipment

15% reducing balance

Motor vehicles

25% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

20 years

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

SJL PrintMedia Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 8 (2022 - 10).

 

SJL PrintMedia Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 August 2022

320,000

320,000

At 31 July 2023

320,000

320,000

Amortisation

At 1 August 2022

256,000

256,000

Amortisation charge

16,000

16,000

At 31 July 2023

272,000

272,000

Carrying amount

At 31 July 2023

48,000

48,000

At 31 July 2022

64,000

64,000

5

Tangible assets

Short leasehold land and buildings
£

Fixtures and fittings
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 August 2022

8,177

48,608

14,190

70,975

Additions

-

12,772

-

12,772

At 31 July 2023

8,177

61,380

14,190

83,747

Depreciation

At 1 August 2022

1,633

38,815

11,665

52,113

Charge for the year

409

3,385

631

4,425

At 31 July 2023

2,042

42,200

12,296

56,538

Carrying amount

At 31 July 2023

6,135

19,180

1,894

27,209

At 31 July 2022

6,544

9,794

2,525

18,863

 

SJL PrintMedia Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

6

Debtors

Note

2023
£

2022
£

Trade debtors

 

600,627

494,381

Amounts owed by group undertakings and undertakings in which the company has a participating interest

8

237,450

-

Prepayments

 

11,770

11,584

Other debtors

 

19,769

251,971

 

869,616

757,936

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

344,863

333,358

Taxation and social security

77,064

92,995

Accruals and deferred income

6,038

3,768

Other creditors

3,628

831

431,593

430,952

8

Related party transactions

Transactions with directors

2023

At 1 August 2022
£

Repayments by director
£

At 31 July 2023
£

Mr A Conreen

93,004

(93,004)

-

       
     

Mr R Denton

105,446

(105,446)

-

       
     

 

2022

At 1 August 2021
£

Advances to director
£

At 31 July 2022
£

Mr A Conreen

(989)

93,993

93,004

       
     

Mr R Denton

(8,562)

114,008

105,446

       
     

 

 

SJL PrintMedia Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

9

Parent and ultimate parent undertaking

The company's immediate parent is Sturdy Print Holdings Ltd, incorporated in England and Wales.