Printdirect (U.K.) Limited 03994500 false 2022-11-01 2023-10-31 2023-10-31 The principal activity of the company is printing and graphic design. Digita Accounts Production Advanced 6.30.9574.0 true 03994500 2022-11-01 2023-10-31 03994500 2023-10-31 03994500 bus:OrdinaryShareClass1 2023-10-31 03994500 core:RetainedEarningsAccumulatedLosses 2023-10-31 03994500 core:RevaluationReserve 2023-10-31 03994500 core:ShareCapital 2023-10-31 03994500 core:CurrentFinancialInstruments 2023-10-31 03994500 core:CurrentFinancialInstruments core:WithinOneYear 2023-10-31 03994500 core:Non-currentFinancialInstruments 2023-10-31 03994500 core:Non-currentFinancialInstruments core:AfterOneYear 2023-10-31 03994500 core:FurnitureFittings 2023-10-31 03994500 core:LandBuildings core:OwnedOrFreeholdAssets 2023-10-31 03994500 core:OfficeEquipment 2023-10-31 03994500 core:PlantMachinery 2023-10-31 03994500 bus:SmallEntities 2022-11-01 2023-10-31 03994500 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 03994500 bus:FullAccounts 2022-11-01 2023-10-31 03994500 bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 03994500 bus:RegisteredOffice 2022-11-01 2023-10-31 03994500 bus:Director1 2022-11-01 2023-10-31 03994500 bus:OrdinaryShareClass1 2022-11-01 2023-10-31 03994500 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 03994500 core:FurnitureFittings 2022-11-01 2023-10-31 03994500 core:LandBuildings core:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 03994500 core:OfficeEquipment 2022-11-01 2023-10-31 03994500 core:PlantMachinery 2022-11-01 2023-10-31 03994500 countries:EnglandWales 2022-11-01 2023-10-31 03994500 2022-10-31 03994500 core:FurnitureFittings 2022-10-31 03994500 core:LandBuildings core:OwnedOrFreeholdAssets 2022-10-31 03994500 core:OfficeEquipment 2022-10-31 03994500 core:PlantMachinery 2022-10-31 03994500 2021-11-01 2022-10-31 03994500 2022-10-31 03994500 bus:OrdinaryShareClass1 2022-10-31 03994500 core:RetainedEarningsAccumulatedLosses 2022-10-31 03994500 core:RevaluationReserve 2022-10-31 03994500 core:ShareCapital 2022-10-31 03994500 core:CurrentFinancialInstruments 2022-10-31 03994500 core:CurrentFinancialInstruments core:WithinOneYear 2022-10-31 03994500 core:Non-currentFinancialInstruments 2022-10-31 03994500 core:Non-currentFinancialInstruments core:AfterOneYear 2022-10-31 03994500 core:FurnitureFittings 2022-10-31 03994500 core:LandBuildings core:OwnedOrFreeholdAssets 2022-10-31 03994500 core:OfficeEquipment 2022-10-31 03994500 core:PlantMachinery 2022-10-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 03994500

Printdirect (U.K.) Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 October 2023

 

Printdirect (U.K.) Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 9

 

Printdirect (U.K.) Limited

(Registration number: 03994500)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

           

Fixed assets

   

 

Tangible assets

4

 

421,541

 

422,552

Current assets

   

 

Debtors

5

3,387

 

6,030

 

Cash at bank and in hand

 

4,212

 

2,908

 

 

7,599

 

8,938

 

Creditors: Amounts falling due within one year

6

(37,255)

 

(46,823)

 

Net current liabilities

   

(29,656)

 

(37,885)

Total assets less current liabilities

   

391,885

 

384,667

Creditors: Amounts falling due after more than one year

6

 

(85,920)

 

(104,107)

Provisions for liabilities

 

(88)

 

(106)

Net assets

   

305,877

 

280,454

Capital and reserves

   

 

Called up share capital

7

2

 

2

 

Revaluation reserve

109,225

 

109,225

 

Profit and loss account

196,650

 

171,227

 

Shareholders' funds

   

305,877

 

280,454

For the financial year ending 31 October 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.

 

Printdirect (U.K.) Limited

(Registration number: 03994500)
Balance Sheet as at 31 October 2023

Approved and authorised by the Board on 15 March 2024 and signed on its behalf by:
 

.........................................
Mrs J Y Ashworth
Director

 

Printdirect (U.K.) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 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:
Unit 4
The Print Factory
Slaidburn Crescent
Southport
Merseyside
PR9 9YF
England

The principal place of business is:
Unit 4 The Print Factory
Slaidburn Crescent
Southport
Merseyside
PR9 9YF

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 except that as disclosed in the accounting policies certain items are shown at fair value.

The company's functional and presentational currency is GBP and no level of rounding has been used in presenting the financial statements.

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.

 

Printdirect (U.K.) Limited

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

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.

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

Fixtures & Fittings

15% Reducing Balance

Office Equipment

33% Reducing Balance

Plant & Machinery

20% Reducing Balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Printdirect (U.K.) Limited

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

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Printdirect (U.K.) Limited

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

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

Printdirect (U.K.) Limited

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

4

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 November 2022

416,512

79,897

56,749

20,897

574,055

At 31 October 2023

416,512

79,897

56,749

20,897

574,055

Depreciation

At 1 November 2022

-

75,677

55,030

20,796

151,503

Charge for the year

-

633

344

34

1,011

At 31 October 2023

-

76,310

55,374

20,830

152,514

Carrying amount

At 31 October 2023

416,512

3,587

1,375

67

421,541

At 31 October 2022

416,512

4,220

1,719

101

422,552

Included within the net book value of land and buildings above is £416,512 (2022 - £416,512) in respect of freehold land and buildings.
 

5

Debtors

Note

2023
£

2022
£

Trade debtors

 

1,650

5,315

Amounts owed by related parties

110

-

Other debtors

 

37

38

Prepayments

 

1,019

-

Deferred tax assets

571

677

 

3,387

6,030

 

Printdirect (U.K.) Limited

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

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

8

16,009

16,009

Trade creditors

 

661

205

Amounts owed to related parties

-

13,944

Taxation and social security

 

344

613

Other creditors

 

20,241

16,052

 

37,255

46,823

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

85,920

104,107

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2

         

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

85,920

104,107

 

Printdirect (U.K.) Limited

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

2023
£

2022
£

Current loans and borrowings

Bank borrowings

16,009

16,009