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REGISTERED NUMBER: 03798169 (England and Wales)















Financial Statements for the Year Ended 31 December 2023

for

The Label Centre Limited

The Label Centre Limited (Registered number: 03798169)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


The Label Centre Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mrs J R Bryan
Mr D R Bryan
Mrs D Farley





SECRETARY: Mr D R Bryan





REGISTERED OFFICE: Town Works
Washington Street Industrial Estate
Cradley Road
Dudley
West Midlands
DY2 9PH





REGISTERED NUMBER: 03798169 (England and Wales)

The Label Centre Limited (Registered number: 03798169)

Abridged Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 386,219 392,315

CURRENT ASSETS
Stocks 193,158 204,416
Debtors 5 429,897 604,832
Cash at bank and in hand 79,483 7,808
702,538 817,056
CREDITORS
Amounts falling due within one year 306,055 413,433
NET CURRENT ASSETS 396,483 403,623
TOTAL ASSETS LESS CURRENT
LIABILITIES

782,702

795,938

CREDITORS
Amounts falling due after more than one
year

(76,572

)

(104,167

)

PROVISIONS FOR LIABILITIES 6 (96,555 ) (74,540 )
NET ASSETS 609,575 617,231

CAPITAL AND RESERVES
Called up share capital 7 2 2
Capital redemption reserve (69,999 ) (69,999 )
Retained earnings 679,572 687,228
SHAREHOLDERS' FUNDS 609,575 617,231

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

The Label Centre Limited (Registered number: 03798169)

Abridged Balance Sheet - continued
31 December 2023


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 28 February 2024 and were signed on its behalf by:




Mr D R Bryan - Director Mrs J R Bryan - Director




Mrs D Farley - Director


The Label Centre Limited (Registered number: 03798169)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

The Label Centre 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Short leasehold - 10% on cost
Plant and machinery - 10% on cost
Fixtures and fittings - 33% on cost
Computer equipment - 25% on cost

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Deferred tax
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.

The Label Centre Limited (Registered number: 03798169)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 23 (2022 - 22 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023 1,083,813
Additions 140,820
At 31 December 2023 1,224,633
DEPRECIATION
At 1 January 2023 691,498
Charge for year 146,916
At 31 December 2023 838,414
NET BOOK VALUE
At 31 December 2023 386,219
At 31 December 2022 392,315

The Label Centre Limited (Registered number: 03798169)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 January 2023
and 31 December 2023 445,000
DEPRECIATION
At 1 January 2023 291,417
Charge for year 82,000
At 31 December 2023 373,417
NET BOOK VALUE
At 31 December 2023 71,583
At 31 December 2022 153,583

5. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Amounts owed by associates 85,167 -

6. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax 96,555 74,540

Deferred
tax
£   
Balance at 1 January 2023 74,540
Provided during year 22,015
Balance at 31 December 2023 96,555

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
1 Ordinary £1 1 1
1 Ordinary B £1 1 1
2 2

The Label Centre Limited (Registered number: 03798169)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

8. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.