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REGISTERED NUMBER: 05064394 (England and Wales)










PMG PRINT MANAGEMENT LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST JULY 2023






PMG PRINT MANAGEMENT LIMITED (REGISTERED NUMBER: 05064394)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2023










Page

Balance Sheet 1 to 2

Notes to the Financial Statements 3 to 6


PMG PRINT MANAGEMENT LIMITED (REGISTERED NUMBER: 05064394)

BALANCE SHEET
31ST JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 54,567 48,970
Investments 6 20,200 6,200
74,767 55,170

CURRENT ASSETS
Stocks 14,852 12,795
Debtors 7 701,490 1,138,008
Cash at bank 57,792 311,067
774,134 1,461,870
CREDITORS
Amounts falling due within one year 8 514,541 1,056,056
NET CURRENT ASSETS 259,593 405,814
TOTAL ASSETS LESS CURRENT LIABILITIES 334,360 460,984

CREDITORS
Amounts falling due after more than one year 9 61,775 128,021
NET ASSETS 272,585 332,963

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 272,485 332,863
SHAREHOLDERS' FUNDS 272,585 332,963

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

PMG PRINT MANAGEMENT LIMITED (REGISTERED NUMBER: 05064394)

BALANCE SHEET - continued
31ST JULY 2023


The 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15th February 2024 and were signed on its behalf by:





M J Roberts - Director


PMG PRINT MANAGEMENT LIMITED (REGISTERED NUMBER: 05064394)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2023


1. STATUTORY INFORMATION

PMG Print Management Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 05064394

Registered office: Unit 4 Oakwell Park
Oakwell Way
Birstall
West Yorkshire
WF17 9LU

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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Office equipment33% on cost
Plant and machinery25% on cost
Motor vehicles25% on cost
Fixtures and fittings20% on cost
Improvements to property10% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


PMG PRINT MANAGEMENT LIMITED (REGISTERED NUMBER: 05064394)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JULY 2023


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

Hire purchase and leasing commitments
Assets acquired under finance leases are capitalised and depreciated over the shorter of the lease term and the expected useful life of the asset. Minimum lease payments are apportioned between the finance charge and the reduction of the outstanding lease liability using the effective interest method. The related obligations, net of future finance charges, are included in creditors.

Rentals payable and receivable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st August 2022
and 31st July 2023 71,955
AMORTISATION
At 1st August 2022
and 31st July 2023 71,955
NET BOOK VALUE
At 31st July 2023 -
At 31st July 2022 -

PMG PRINT MANAGEMENT LIMITED (REGISTERED NUMBER: 05064394)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JULY 2023


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st August 2022 154,507
Additions 37,804
Disposals (36,333 )
At 31st July 2023 155,978
DEPRECIATION
At 1st August 2022 105,537
Charge for year 15,179
Eliminated on disposal (19,305 )
At 31st July 2023 101,411
NET BOOK VALUE
At 31st July 2023 54,567
At 31st July 2022 48,970

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1st August 2022 6,200
Additions 14,000
At 31st July 2023 20,200
NET BOOK VALUE
At 31st July 2023 20,200
At 31st July 2022 6,200

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 512,157 985,572
Other debtors 189,333 152,436
701,490 1,138,008

PMG PRINT MANAGEMENT LIMITED (REGISTERED NUMBER: 05064394)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JULY 2023


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 210,449 368,891
Trade creditors 244,120 579,993
Taxation and social security 30,605 36,675
Other creditors 29,367 70,497
514,541 1,056,056

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 61,775 126,021
Other creditors - 2,000
61,775 128,021

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The interest free loan to the director is repayable on demand. Movements on the loan are as follows:
20232022
£   £   

Balance outstanding at start of year8153583646
Amounts advanced252836247889
Amounts repaid(250000)(250000)
Balance outstanding at end of year8437181535