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Registered Number: 07657031
England and Wales

 

 

 


Unaudited Financial Statements

for the year ended 31 December 2023

for

EXPERT PRINT MANAGEMENT LTD

 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 7,763    10,351 
7,763    10,351 
Current assets      
Debtors 4 21,084    37,761 
Cash at bank and in hand 15,754    14,002 
36,838    51,763 
Creditors: amount falling due within one year 5 (24,769)   (40,098)
Net current assets 12,069    11,665 
 
Total assets less current liabilities 19,832    22,016 
Creditors: amount falling due after more than one year 6 (5,667)   (9,304)
Provisions for liabilities 7 (1,941)   (1,967)
Net assets 12,224    10,745 
 

Capital and reserves
     
Called up share capital 1    1 
Profit and loss account 12,223    10,744 
Shareholder's funds 12,224    10,745 
 


For the year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the director on 13 March 2024 and were signed by:


-------------------------------
Paul Youngs
Director
1
General Information
Expert Print Management Ltd is a private company, limited by shares, registered in England and Wales, registration number 07657031, registration address 13 The Close, Norwich, Norfolk, NR1 4DS.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the balance sheet when their payment has been approved by the shareholders prior to the balance sheet date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

The average number of employees for the year 2021 was 1, last year 2020 1
Average number of employees during the year was 1 (2022 : 1).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Total
  £   £   £
At 01 January 2023 5,164    29,065    34,229 
Additions    
Disposals    
At 31 December 2023 5,164    29,065    34,229 
Depreciation
At 01 January 2023 3,625    20,253    23,878 
Charge for year 385    2,203    2,588 
On disposals    
At 31 December 2023 4,010    22,456    26,466 
Net book values
Closing balance as at 31 December 2023 1,154    6,609    7,763 
Opening balance as at 01 January 2023 1,539    8,812    10,351 


4.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 15,812    33,220 
Prepayments & Accrued Income 731   
Other Debtors 4,541    4,541 
21,084    37,761 

5.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 10,950    27,225 
Bank Loans & Overdrafts 4,000    4,363 
Corporation Tax 5,170    4,730 
Other taxes and social security 3,360    1,918 
Directors' Current Accounts 1,289    1,862 
24,769    40,098 

6.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts 5,667    9,304 
5,667    9,304 

7.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax 1,967    2,292 
Charged to Profit & Loss (26)   (325)
1,941    1,967 

2