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Registration number: 05858982

Encompass Print Solutions Limited

Unaudited Abridged Financial Statements

(Companies House version)

for the Year Ended 30 June 2023

 

Encompass Print Solutions Limited

Contents

Abridged Balance Sheet

1 to 2

Notes to the Unaudited Abridged Financial Statements

3 to 7

 

Encompass Print Solutions Limited

(Registration number: 05858982)
Abridged Balance Sheet as at 30 June 2023

Note

2023

2022

   

£

£

£

£

Fixed assets

   

 

Tangible assets

4

 

9,658

 

23,837

Current assets

   

 

Stocks

31,830

 

22,860

 

Debtors

2,063,100

 

4,216,993

 

Cash at bank and in hand

 

805,519

 

1,330,601

 

 

2,900,449

 

5,570,454

 

Creditors: Amounts falling due within one year

(788,547)

 

(867,926)

 

Net current assets

   

2,111,902

 

4,702,528

Total assets less current liabilities

   

2,121,560

 

4,726,365

Provisions for liabilities

 

(1,193)

 

(3,758)

Net assets

   

2,120,367

 

4,722,607

Capital and reserves

   

 

Called up share capital

111

 

111

 

Profit and loss account

2,120,256

 

4,722,496

 

Total equity

   

2,120,367

 

4,722,607

For the financial year ending 30 June 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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) 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.

 

Encompass Print Solutions Limited

(Registration number: 05858982)
Abridged Balance Sheet as at 30 June 2023

Approved and authorised by the Board on 29 February 2024 and signed on its behalf by:
 

.........................................
Miss L P Britchford
Director

 

Encompass Print Solutions Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 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:
Sherwood House
7 Gregory Boulevard
Nottingham
Nottinghamshire
NG7 6LB
England

The principal place of business is:
Encompass House
Manners Industrial Estate
17 Birkdale Close
Ilkeston
Derbyshire
DE7 8YA

These financial statements were authorised for issue by the Board on 29 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.

Basis of preparation of financial statements

These financial statements were prepared under the historical cost convention in accordance with applicable United Kingdom accounting standards, including the Financial Reporting Standard 102 ('FRS 102') Section 1A small entities, and with the Companies Act 2006.

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.

 

Encompass Print Solutions Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2023

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.

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, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leasehold Improvements

10% straight line

Fixtures & Fittings

10%-33% straight line

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

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.

 

Encompass Print Solutions Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 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

During the year, the average number of employees at the company was 17 (2022 - 16).

4

Tangible assets

Long leasehold land and buildings
£

Fixtures and fittings
 £

Total
£

Cost or valuation

At 1 July 2022

61,949

125,368

187,317

Additions

-

485

485

At 30 June 2023

61,949

125,853

187,802

Depreciation

At 1 July 2022

57,890

105,590

163,480

Charge for the year

677

13,987

14,664

At 30 June 2023

58,567

119,577

178,144

Carrying amount

At 30 June 2023

3,382

6,276

9,658

At 30 June 2022

4,059

19,778

23,837

 

Encompass Print Solutions Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2023

5

Parent and ultimate parent undertaking

The company's immediate parent is Encompass Print Solutions Holdings Limited, incorporated in England and Wales.

 
Encompass Print Solutions Holdings Limited is the parent company of Encompass Print Solutions Limited, and is incorporated in England and Wales. The registered office of Encompass Print Solutions Holdings Limited is 7 The Ropewalk, Nottingham, England, NG1 5DU.

 

 

Encompass Print Solutions Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2023

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

A Ordinary Shares of £1 each

100

100

100

100

B Ordinary Shares of £1 each

11

11

11

11

 

111

111

111

111

The B shares attract rights Three times greater than that of the A shares, except for rights to dividends which are at the directors’ discretion.