Caseware UK (AP4) 2023.0.135 2023.0.135 2023-08-312023-08-312022-09-01falseNo description of principal activity12falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 00577249 2022-09-01 2023-08-31 00577249 2021-09-01 2022-08-31 00577249 2023-08-31 00577249 2022-08-31 00577249 c:Director1 2022-09-01 2023-08-31 00577249 d:Buildings 2023-08-31 00577249 d:Buildings 2022-08-31 00577249 d:Buildings d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 00577249 d:CurrentFinancialInstruments 2023-08-31 00577249 d:CurrentFinancialInstruments 2022-08-31 00577249 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 00577249 d:CurrentFinancialInstruments d:WithinOneYear 2022-08-31 00577249 d:ShareCapital 2023-08-31 00577249 d:ShareCapital 2022-08-31 00577249 d:SharePremium 2023-08-31 00577249 d:SharePremium 2022-08-31 00577249 d:RevaluationReserve 2023-08-31 00577249 d:RevaluationReserve 2022-08-31 00577249 d:RetainedEarningsAccumulatedLosses 2023-08-31 00577249 d:RetainedEarningsAccumulatedLosses 2022-08-31 00577249 c:FRS102 2022-09-01 2023-08-31 00577249 c:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 00577249 c:FullAccounts 2022-09-01 2023-08-31 00577249 c:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 00577249 2 2022-09-01 2023-08-31 00577249 5 2022-09-01 2023-08-31 00577249 6 2022-09-01 2023-08-31 00577249 d:OtherDeferredTax 2023-08-31 00577249 d:OtherDeferredTax 2022-08-31 00577249 e:PoundSterling 2022-09-01 2023-08-31 iso4217:GBP xbrli:pure

Registered number: 00577249










PRINT AND PRESS SERVICES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

 
PRINT AND PRESS SERVICES LIMITED
REGISTERED NUMBER:00577249

STATEMENT OF FINANCIAL POSITION
AS AT 31 AUGUST 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
840,000
857,500

Investments
 5 
608,382
608,382

  
1,448,382
1,465,882

Current assets
  

Debtors: amounts falling due within one year
 6 
133,086
113

Current asset investments
  
700,000
-

Cash at bank and in hand
  
95,123
887,566

  
928,209
887,679

Creditors: amounts falling due within one year
 7 
(17,399)
(9,946)

Net current assets
  
 
 
910,810
 
 
877,733

Total assets less current liabilities
  
2,359,192
2,343,615

Provisions for liabilities
  

Deferred tax
  
(73,444)
(73,444)

  
 
 
(73,444)
 
 
(73,444)

Net assets
  
2,285,748
2,270,171


Capital and reserves
  

Called up share capital 
  
1,052
1,052

Share premium account
  
234,040
234,040

Revaluation reserve
  
471,079
479,915

Profit and loss account
  
1,579,577
1,555,164

  
2,285,748
2,270,171


Page 1

 
PRINT AND PRESS SERVICES LIMITED
REGISTERED NUMBER:00577249
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 AUGUST 2023

The director considers 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 director acknowledges his 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 income statement 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: 




O W Makings
Director

Date: 3 April 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
PRINT AND PRESS SERVICES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1.


General information

Print and Press Services Limited is a private company limited by shares and incorporated in England and Wales, registration number 00577249. the registered office is 47 Brunel Way, Thetford, Norfolk,        IP24 1HP.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
The company is the parent undertaking of a small group and as such is not required by the Companies Act 2006 to prepare group accounts. These financial statements therefore present information about the company as an individual undertaking and not about its group.

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
PRINT AND PRESS SERVICES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.5

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the reporting date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.
If an asset's carrying amount is increased as a result of a revaluation, the increase shall be recognised in other comprehensive income and accumulated in equity. 

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting. Gains and losses on remeasurement are recognised in the Income Statement for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each reporting. Gains and losses on remeasurement are recognised in profit or loss for the period.

Page 4

 
PRINT AND PRESS SERVICES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.7

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.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

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.

 
2.10

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.11

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. Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 2).

Page 5

 
PRINT AND PRESS SERVICES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

4.


Tangible fixed assets





Freehold property

£



Cost or valuation


At 1 September 2022
875,000



At 31 August 2023

875,000



Depreciation


At 1 September 2022
17,500


Charge for the year on owned assets
17,500



At 31 August 2023

35,000



Net book value



At 31 August 2023
840,000



At 31 August 2022
857,500

The Company's freehold land and buildings were revalued on 21 July 2021, by an independent qualified valuers. The valuations were undertaken in accordance with the Appraisal and Valuation method of the Royal Institution of Chartered Surveyors ("RICS") in the United Kingdom by Merrifields, a firm of independent chartered surveyors.

If the land and buildings had not been included at valuation they would have been included under the historical cost convention as follows:

2023
2022
£
£



Cost
433,102
433,102

Accumulated depreciation
(138,620)
(129,958)

Net book value
294,482
303,144

Page 6

 
PRINT AND PRESS SERVICES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

5.


Fixed asset investments





Investments in subsidiary companies
Investments in associates
Total

£
£
£



Cost or valuation


At 1 September 2022
266,574
341,808
608,382



At 31 August 2023
266,574
341,808
608,382





6.


Debtors

2023
2022
£
£


Amounts owed by associated undertakings
130,000
-

Prepayments and accrued income
3,086
113

133,086
113



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
276
-

Amounts owed to group undertakings
5,868
-

Corporation tax
9,196
8,024

Accruals and deferred income
2,059
1,922

17,399
9,946


Page 7

 
PRINT AND PRESS SERVICES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

8.


Deferred taxation




2023


£






At beginning of year
(73,444)



At end of year
(73,444)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Capital gains
(73,444)
(73,444)

(73,444)
(73,444)


9.


Related party transactions

The Company has taken advantage of the exemption contained in FRS 102 Section 1A and has not disclosed transactions with Caligraving Limited, the subsidary, as the subsidary is wholly owned.


10.


Revaluation reserve

2023
2022
£
£



Revaluation reserve b/fwd
479,915
562,195

Surplus on revaluation
-
-

Transfer to profit and loss
(8,836)
(82,280)

Revaluation reserve c/fwd
471,079
479,915

The deferred tax shown in note 8 is in relation to the freehold property revalued.

 
Page 8