Registered number
13011170
Printy Limited
Unaudited Filleted Accounts
31 December 2023
Printy Limited
Registered number: 13011170
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 17,220 19,680
Tangible assets 4 1,356 4,940
18,576 24,620
Current assets
Stocks 400 600
Debtors 5 5,948 66
Cash at bank and in hand 2,505 9,870
8,853 10,536
Creditors: amounts falling due within one year 6 (18,312) (26,485)
Net current liabilities (9,459) (15,949)
Total assets less current liabilities 9,117 8,671
Provisions for liabilities (258) (482)
Net assets 8,859 8,189
Capital and reserves
Called up share capital 2 2
Profit and loss account 8,857 8,187
Shareholders' funds 8,859 8,189
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Miss K Startup
Director
Approved by the board on 23 April 2024
Printy Limited
Notes to the Accounts
for the period from 1 December 2022 to 31 December 2023
1 Accounting policies
Basis of preparation
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). The financial statements are presented in sterling which is the functional currency of the company and are rounded to the nearest £.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% Straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable and payable within one year are recorded at transaction price. Any losses from impairment are recognised in the profit and loss in other administrative expenses.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 December 2022 24,600
At 31 December 2023 24,600
Amortisation
At 1 December 2022 4,920
Provided during the period 2,460
At 31 December 2023 7,380
Net book value
At 31 December 2023 17,220
At 30 November 2022 19,680
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2022 5,867
Additions 149
Disposals (4,064)
At 31 December 2023 1,952
Depreciation
At 1 December 2022 927
Charge for the period 220
On disposals (551)
At 31 December 2023 596
Net book value
At 31 December 2023 1,356
At 30 November 2022 4,940
5 Debtors 2023 2022
£ £
Other debtors 5,948 66
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 148 134
Taxation and social security costs 2,457 2,768
Other creditors 15,707 23,583
18,312 26,485
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Director
Interest charged at HMRC's official rate, repayable on demand 7,776 (18,499) 4,790 (5,933)
7,776 (18,499) 4,790 (5,933)
8 Other information
Printy Limited is a private company limited by shares and incorporated in England. Its registered office is:
11 Linda Close
Exeter
Devon
EX1 3EU
The year-end has changed from 30-11-2023 to 31-12-2023 due to one of the directors leaving the business on 31-12-2023. As such, the comparatives are not entirely comparable.
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