Caseware UK (AP4) 2023.0.135 2023.0.135 2023-04-302023-04-3035The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-05-01false32990- Other manufacturing not elsewhere classified39falsetruefalse 02920284 2022-05-01 2023-04-30 02920284 2021-05-01 2022-04-30 02920284 2023-04-30 02920284 2022-04-30 02920284 c:Director3 2022-05-01 2023-04-30 02920284 d:PlantMachinery 2022-05-01 2023-04-30 02920284 d:PlantMachinery 2023-04-30 02920284 d:PlantMachinery 2022-04-30 02920284 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 02920284 d:MotorVehicles 2022-05-01 2023-04-30 02920284 d:FurnitureFittings 2022-05-01 2023-04-30 02920284 d:OfficeEquipment 2022-05-01 2023-04-30 02920284 d:Goodwill 2023-04-30 02920284 d:Goodwill 2022-04-30 02920284 d:CurrentFinancialInstruments 2023-04-30 02920284 d:CurrentFinancialInstruments 2022-04-30 02920284 d:Non-currentFinancialInstruments 2023-04-30 02920284 d:Non-currentFinancialInstruments 2022-04-30 02920284 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 02920284 d:CurrentFinancialInstruments d:WithinOneYear 2022-04-30 02920284 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 02920284 d:Non-currentFinancialInstruments d:AfterOneYear 2022-04-30 02920284 d:ShareCapital 2023-04-30 02920284 d:ShareCapital 2022-04-30 02920284 d:RetainedEarningsAccumulatedLosses 2023-04-30 02920284 d:RetainedEarningsAccumulatedLosses 2022-04-30 02920284 d:AcceleratedTaxDepreciationDeferredTax 2023-04-30 02920284 d:AcceleratedTaxDepreciationDeferredTax 2022-04-30 02920284 c:OrdinaryShareClass1 2022-05-01 2023-04-30 02920284 c:OrdinaryShareClass1 2023-04-30 02920284 c:OrdinaryShareClass1 2022-04-30 02920284 c:OrdinaryShareClass2 2022-05-01 2023-04-30 02920284 c:OrdinaryShareClass2 2023-04-30 02920284 c:OrdinaryShareClass2 2022-04-30 02920284 c:OrdinaryShareClass3 2022-05-01 2023-04-30 02920284 c:OrdinaryShareClass3 2023-04-30 02920284 c:OrdinaryShareClass3 2022-04-30 02920284 c:OrdinaryShareClass4 2022-05-01 2023-04-30 02920284 c:OrdinaryShareClass4 2023-04-30 02920284 c:OrdinaryShareClass4 2022-04-30 02920284 c:OrdinaryShareClass5 2022-05-01 2023-04-30 02920284 c:OrdinaryShareClass5 2023-04-30 02920284 c:OrdinaryShareClass5 2022-04-30 02920284 c:FRS102 2022-05-01 2023-04-30 02920284 c:AuditExempt-NoAccountantsReport 2022-05-01 2023-04-30 02920284 c:FullAccounts 2022-05-01 2023-04-30 02920284 c:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 02920284 d:WithinOneYear 2023-04-30 02920284 d:WithinOneYear 2022-04-30 02920284 d:BetweenOneFiveYears 2023-04-30 02920284 d:BetweenOneFiveYears 2022-04-30 02920284 d:HirePurchaseContracts d:WithinOneYear 2023-04-30 02920284 d:HirePurchaseContracts d:WithinOneYear 2022-04-30 02920284 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-04-30 02920284 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-04-30 02920284 e:PoundSterling 2022-05-01 2023-04-30 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 02920284










BFS PRESSROOM SOLUTIONS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2023

 
BFS PRESSROOM SOLUTIONS LIMITED
REGISTERED NUMBER: 02920284

BALANCE SHEET
AS AT 30 APRIL 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
427,211
209,720

  
427,211
209,720

Current assets
  

Stocks
  
668,201
547,293

Debtors
 6 
1,215,574
1,067,778

Cash at bank and in hand
 7 
1,040,484
885,761

  
2,924,259
2,500,832

Creditors: amounts falling due within one year
 8 
(1,497,920)
(1,023,822)

Net current assets
  
 
 
1,426,339
 
 
1,477,010

Total assets less current liabilities
  
1,853,550
1,686,730

Creditors: amounts falling due after more than one year
 9 
(106,731)
(26,932)

Provisions for liabilities
  

Deferred tax
 11 
(67,390)
(24,482)

  
 
 
(67,390)
 
 
(24,482)

Net assets
  
1,679,429
1,635,316


Capital and reserves
  

Called up share capital 
 12 
10,020
10,000

Profit and loss account
  
1,669,409
1,625,316

  
1,679,429
1,635,316


Page 1

 
BFS PRESSROOM SOLUTIONS LIMITED
REGISTERED NUMBER: 02920284

BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




R C Hope
Director

Date: 26 February 2024

The notes on pages 3 to 12 form part of these financial statements.

Page 2

 
BFS PRESSROOM SOLUTIONS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

1.Accounting policies

  
1.1

Company lnformatlon

bfs Pressroom Solutions Limited is a private company, limited by shares and incorporated in England and Wales. The registered office is 5 Pincents Kiln Industrial Park, Calcot, Reading, Berkshire, RG31 7SD.

  
1.2

Accounting convention

These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies. regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, The principal accounting policies adopted are set out below.

  
1.3

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. 
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

  
1.4

Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life.

 
1.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
BFS PRESSROOM SOLUTIONS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

1.Accounting policies (continued)

 
1.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
20%
on cost
Motor vehicles
-
20%
on cost
Fixtures and fittings
-
20%
on cost
Computers
-
33%
on cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

  
1.7

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. 
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

  
1.8

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Page 4

 
BFS PRESSROOM SOLUTIONS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

1.Accounting policies (continued)

  
1.9

Financial instruments

The Company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Company's balance sheet when the Company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently canied at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Page 5

 
BFS PRESSROOM SOLUTIONS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

1.Accounting policies (continued)

  
1.10

Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transadon that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

  
1.11

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably
committed to terminate the employment of an employee or to provide termination benefits.

  
1.12

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Page 6

 
BFS PRESSROOM SOLUTIONS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

1.Accounting policies (continued)

  
1.13

Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is
reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

  
1.14

Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

 
1.15

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
1.16

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
1.17

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


2.


Judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the canying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Page 7

 
BFS PRESSROOM SOLUTIONS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2023
        2022
            No.
            No.







Average no. of employees
39
35


4.


Intangible assets




Goodwill

£



Cost


At 1 May 2022
453,052



At 30 April 2023

453,052



Amortisation


At 1 May 2022
453,052



At 30 April 2023

453,052



Net book value



At 30 April 2023
-



At 30 April 2022
-



Page 8

 
BFS PRESSROOM SOLUTIONS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

5.


Tangible fixed assets





Plant and machinery

£



Cost or valuation


At 1 May 2022
971,993


Additions
352,143


Disposals
(91,280)



At 30 April 2023

1,232,856



Depreciation


At 1 May 2022
762,273


Charge for the year on owned assets
88,119


Disposals
(44,747)



At 30 April 2023

805,645



Net book value



At 30 April 2023
427,211



At 30 April 2022
209,720

Finance leases

The total net book value of the assets held under finance lease and included in plant and machinery is £314,698.


6.


Debtors

2023
2022
£
£


Trade debtors
1,114,456
1,038,114

Other debtors
101,098
21,989

Called up share capital not paid
20
-

Corporation tax recoverable
-
7,675

1,215,574
1,067,778


Page 9

 
BFS PRESSROOM SOLUTIONS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
1,040,484
885,761

1,040,484
885,761



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
914,420
561,895

Corporation tax
2,334
-

Other taxation and social security
109,185
157,397

Obligations under finance lease and hire purchase contracts
84,158
8,363

Other creditors
110,424
105,003

Accruals and deferred income
277,399
191,164

1,497,920
1,023,822


The hire purchase contratcs are secured against the asset it relates to. 


9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Net obligations under finance leases and hire purchase contracts
106,731
26,932

106,731
26,932



10.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
84,158
8,363

Between 1-5 years
106,731
26,932

190,889
35,295

Page 10

 
BFS PRESSROOM SOLUTIONS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

11.


Deferred taxation




2023


£






At beginning of year
(24,482)


Charged to profit or loss
(42,908)



At end of year
(67,390)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(67,390)
(24,482)

(67,390)
(24,482)


12.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



2,750 (2022 - 2,750) A Ordinary shares of £1.00 each
2,750
2,750
2,750 (2022 - 2,750) B Ordinary shares of £1.00 each
2,750
2,750
1,500 (2022 - 1,500) C Ordinary shares of £1.00 each
1,500
1,500
1,500 (2022 - 1,500) D Ordinary shares of £1.00 each
1,500
1,500
1,500 (2022 - 1,500) E Ordinary shares of £1.00 each
1,500
1,500
20     (2022  -   Nil ) F Ordinary shares of £1.00 each
20
-

10,020

10,000


During the year, 20 Ordinary F shares were issued for £1 each and fully paid at par.


13.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £213,361 (2022 - £133,475). Contributions totalling £4,576 (2022 - £nil) were payable to the fund at the balance sheet date and are included in creditors.

Page 11

 
BFS PRESSROOM SOLUTIONS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

14.


Operating lease commitments

At 30 April 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
168,000
168,000

Later than 1 year and not later than 5 years
42,000
158,613

210,000
326,613


15.


Related party transactions

At the year end, the Company owed R Hope, a director of the Company £1,477 (2022 - £1,477). The loan is interest free and payable on demand. 
At the year end, the Company owed C Hope, a director of the Company £3,659 (2022 - £3,659). The loan is interest free and payable on demand.


16.


Controlling party

The Company is controlled by R Hope and N Hope, directors of the Company.


Page 12