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31/07/2023
2023-07-31
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No description of principal activities is disclosed
2022-08-01
Sage Accounts Production 21.0 - FRS102_2021
xbrli:pure
xbrli:shares
iso4217:GBP
04631113
2022-08-01
2023-07-31
04631113
2023-07-31
04631113
2022-07-31
04631113
2021-08-01
2022-07-31
04631113
2022-07-31
04631113
core:PlantMachinery
2022-08-01
2023-07-31
04631113
core:FurnitureFittingsToolsEquipment
2022-08-01
2023-07-31
04631113
core:MotorVehicles
2022-08-01
2023-07-31
04631113
bus:Director1
2022-08-01
2023-07-31
04631113
core:WithinOneYear
2023-07-31
04631113
core:WithinOneYear
2022-07-31
04631113
core:AfterOneYear
2023-07-31
04631113
core:AfterOneYear
2022-07-31
04631113
core:ShareCapital
2023-07-31
04631113
core:ShareCapital
2022-07-31
04631113
core:RetainedEarningsAccumulatedLosses
2023-07-31
04631113
core:RetainedEarningsAccumulatedLosses
2022-07-31
04631113
core:AdditionsToInvestments
core:Non-currentFinancialInstruments
2023-07-31
04631113
core:CostValuation
core:Non-currentFinancialInstruments
2023-07-31
04631113
core:Non-currentFinancialInstruments
2023-07-31
04631113
bus:Director1
2022-07-31
04631113
bus:Director1
2023-07-31
04631113
bus:Director1
2021-07-31
04631113
bus:Director1
2022-07-31
04631113
bus:Director1
2021-08-01
2022-07-31
04631113
bus:SmallEntities
2022-08-01
2023-07-31
04631113
bus:AuditExempt-NoAccountantsReport
2022-08-01
2023-07-31
04631113
bus:AbridgedAccounts
2022-08-01
2023-07-31
04631113
bus:SmallCompaniesRegimeForAccounts
2022-08-01
2023-07-31
04631113
bus:PrivateLimitedCompanyLtd
2022-08-01
2023-07-31
04631113
core:LandBuildings
core:ShortLeaseholdAssets
2022-08-01
2023-07-31
04631113
core:NetGoodwill
2022-08-01
2023-07-31
Company registration number:
04631113
Novaprint Ltd
Unaudited filleted abridged financial statements
31 July 2023
Novaprint Ltd
Contents
Abridged statement of financial position
Notes to the financial statements
Novaprint Ltd
Abridged statement of financial position
31 July 2023
|
|
|
2023 |
|
|
|
2022 |
|
|
|
|
Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
Intangible assets |
|
5 |
8,980 |
|
|
|
13,333 |
|
|
Tangible assets |
|
6 |
520,552 |
|
|
|
501,148 |
|
|
Investments |
|
7 |
1,010 |
|
|
|
1,010 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
530,542 |
|
|
|
515,491 |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
Stocks |
|
|
179,453 |
|
|
|
148,355 |
|
|
Debtors |
|
|
462,783 |
|
|
|
459,745 |
|
|
Cash at bank and in hand |
|
|
4,249 |
|
|
|
45,771 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
646,485 |
|
|
|
653,871 |
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
within one year |
|
|
(
596,437) |
|
|
|
(
667,953) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
Net current assets/(liabilities) |
|
|
|
|
50,048 |
|
|
|
(
14,082) |
|
|
|
|
|
_______ |
|
|
|
_______ |
Total assets less current liabilities |
|
|
|
|
580,590 |
|
|
|
501,409 |
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
after more than one year |
|
|
|
|
(
295,505) |
|
|
|
(
270,558) |
|
|
|
|
|
|
|
|
|
|
Provisions for liabilities |
|
|
|
|
(
109,898) |
|
|
|
(
77,837) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
|
|
_______ |
Net assets |
|
|
|
|
175,187 |
|
|
|
153,014 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
Capital and reserves |
|
|
|
|
|
|
|
|
|
Called up share capital |
|
|
|
|
100 |
|
|
|
100 |
Profit and loss account |
|
|
|
|
175,087 |
|
|
|
152,914 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Shareholder funds |
|
|
|
|
175,187 |
|
|
|
153,014 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged income statement has not been delivered.
All of the members have consented to the preparation of the abridged income statement and the abridged statement of financial position for the current year ending 31 July 2023 in accordance with Section 444(2A) of the Companies Act 2006.
These financial statements were approved by the
board of directors
and authorised for issue on
15 February 2024
, and are signed on behalf of the board by:
Mr A Robinson
Director
Company registration number:
04631113
Novaprint Ltd
Notes to the financial statements
Year ended 31 July 2023
1.
General information
The company is a private company limited by shares, registered in England. The address of the registered office is 10 Earls Close, Earls Close Industrial Estate, Thurmaston, Leicester.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
|
|
|
|
|
Short leasehold property |
- |
Straight line over the life of the lease |
|
|
Plant and machinery |
- |
10 % |
reducing balance |
|
Fittings fixtures and equipment |
- |
20 % |
reducing balance |
|
Motor vehicles |
- |
25 % |
reducing balance |
|
|
|
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates
.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
9
(2022:
10
).
5.
Intangible assets
|
|
|
|
|
|
|
|
|
|
£ |
|
|
|
|
|
|
Cost |
|
|
|
|
|
|
|
At 1 August 2022 and 31 July 2023 |
70,000 |
|
|
|
|
|
|
|
_______ |
|
|
|
|
|
|
Amortisation |
|
|
|
|
|
|
|
At 1 August 2022 |
56,687 |
|
|
|
|
|
|
Charge for the year |
4,333 |
|
|
|
|
|
|
|
_______ |
|
|
|
|
|
|
At 31 July 2023 |
61,020 |
|
|
|
|
|
|
|
_______ |
|
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
At 31 July 2023 |
8,980 |
|
|
|
|
|
|
|
_______ |
|
|
|
|
|
|
At 31 July 2022 |
13,313
|
|
|
|
|
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
|
6.
Tangible assets
|
|
|
|
|
|
|
|
|
|
|
£ |
|
|
|
|
|
|
|
Cost |
|
|
|
|
|
|
|
|
At 1 August 2022 |
1,152,186 |
|
|
|
|
|
|
|
Additions |
48,573 |
|
|
|
|
|
|
|
|
_______ |
|
|
|
|
|
|
|
At 31 July 2023 |
1,200,759 |
|
|
|
|
|
|
|
|
_______ |
|
|
|
|
|
|
|
Depreciation |
|
|
|
|
|
|
|
|
At 1 August 2022 |
651,038 |
|
|
|
|
|
|
|
Charge for the year |
29,169 |
|
|
|
|
|
|
|
|
_______ |
|
|
|
|
|
|
|
At 31 July 2023 |
680,207 |
|
|
|
|
|
|
|
|
_______ |
|
|
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
|
At 31 July 2023 |
520,552 |
|
|
|
|
|
|
|
|
_______ |
|
|
|
|
|
|
|
At 31 July 2022 |
501,148 |
|
|
|
|
|
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7.
Investments
|
|
|
|
|
|
|
|
|
|
£ |
|
|
|
|
|
|
Cost |
|
|
|
|
|
|
|
At 1 August 2022 |
- |
|
|
|
|
|
|
Additions |
1,010 |
|
|
|
|
|
|
|
_______ |
|
|
|
|
|
|
At 31 July 2023 |
1,010 |
|
|
|
|
|
|
|
_______ |
|
|
|
|
|
|
Impairment |
|
|
|
|
|
|
|
At 1 August 2022 and 31 July 2023 |
- |
|
|
|
|
|
|
|
_______ |
|
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
At 31 July 2023 |
1,010 |
|
|
|
|
|
|
|
_______ |
|
|
|
|
|
|
At 31 July 2022 |
- |
|
|
|
|
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
|
8.
Directors advances, credits and guarantees
|
During the year the director entered into the following advances and credits with the company: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2023 |
|
|
|
|
|
|
|
|
|
Balance brought forward |
Advances /(credits) to the director |
Balance o/standing |
|
|
|
|
|
£ |
£ |
£ |
|
|
|
|
Mr A Robinson |
17,269 |
(
5,552) |
11,717 |
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
2022 |
|
|
|
|
|
|
|
|
|
Balance brought forward |
Advances /(credits) to the director |
Balance o/standing |
|
|
|
|
|
£ |
£ |
£ |
|
|
|
|
Mr A Robinson |
68,000 |
(
50,731) |
17,269 |
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
The loan of £11,717 is interest free and repayable on demand.