The Pattern Book Press Limited 12454391 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is the design and retail of greeting cards and fine prints. Digita Accounts Production Advanced 6.30.9574.0 true true 12454391 2023-04-01 2024-03-31 12454391 2024-03-31 12454391 core:CurrentFinancialInstruments 2024-03-31 12454391 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 12454391 core:Goodwill 2024-03-31 12454391 core:FurnitureFittings 2024-03-31 12454391 1 2024-03-31 12454391 bus:SmallEntities 2023-04-01 2024-03-31 12454391 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 12454391 bus:FilletedAccounts 2023-04-01 2024-03-31 12454391 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 12454391 bus:RegisteredOffice 2023-04-01 2024-03-31 12454391 bus:Director1 2023-04-01 2024-03-31 12454391 bus:Director3 2023-04-01 2024-03-31 12454391 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 12454391 core:Goodwill 2023-04-01 2024-03-31 12454391 core:FurnitureFittings 2023-04-01 2024-03-31 12454391 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 12454391 countries:England 2023-04-01 2024-03-31 12454391 1 2023-04-01 2024-03-31 12454391 2023-03-31 12454391 core:Goodwill 2023-03-31 12454391 core:FurnitureFittings 2023-03-31 12454391 1 2023-03-31 12454391 2022-04-01 2023-03-31 12454391 2023-03-31 12454391 core:CurrentFinancialInstruments 2023-03-31 12454391 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 12454391 core:Goodwill 2023-03-31 12454391 core:FurnitureFittings 2023-03-31 12454391 1 2023-03-31 12454391 1 2022-04-01 2023-03-31 12454391 1 2022-03-31 iso4217:GBP xbrli:pure

Registration number: 12454391

The Pattern Book Press Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

The Pattern Book Press Limited

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 9

 

The Pattern Book Press Limited

(Registration number: 12454391)
Statement of Financial Position as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

14,000

16,000

Tangible assets

5

2,018

2,691

 

16,018

18,691

Current assets

 

Stocks

6

37,865

33,671

Debtors

7

33,475

22,076

Cash at bank and in hand

 

53,092

34,167

 

124,432

89,914

Creditors: Amounts falling due within one year

8

(98,849)

(85,399)

Net current assets

 

25,583

4,515

Total assets less current liabilities

 

41,601

23,206

Provisions for liabilities

(505)

(673)

Net assets

 

41,096

22,533

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

40,996

22,433

Shareholders' funds

 

41,096

22,533

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

 

The Pattern Book Press Limited

(Registration number: 12454391)
Statement of Financial Position as at 31 March 2024 (continued)

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 Statement of Comprehensive Income.

Approved and authorised by the Board on 31 July 2024 and signed on its behalf by:
 


Mr N Crowe
Director


Mr N Baber
Director

 

The Pattern Book Press Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
26-28 Southernhay East
Exeter
Devon
EX1 1NS

Principal activity

The principal activity of the company is the design and retail of greeting cards and fine prints.

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 financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

 

The Pattern Book Press Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

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 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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

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.

 

The Pattern Book Press Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

Tangible assets

Tangible assets are stated in the statement of financial position 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

Fittings, fixtures and equipment

25% reducing balance

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.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwin

10% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, 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. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

 

The Pattern Book Press Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition. .

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

 

The Pattern Book Press Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2023

20,000

20,000

At 31 March 2024

20,000

20,000

Amortisation

At 1 April 2023

4,000

4,000

Amortisation charge

2,000

2,000

At 31 March 2024

6,000

6,000

Carrying amount

At 31 March 2024

14,000

14,000

At 31 March 2023

16,000

16,000

5

Tangible assets

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 April 2023

3,858

3,858

At 31 March 2024

3,858

3,858

Depreciation

At 1 April 2023

1,168

1,168

Charge for the year

672

672

At 31 March 2024

1,840

1,840

Carrying amount

At 31 March 2024

2,018

2,018

At 31 March 2023

2,691

2,691

6

Stocks

2024
£

2023
£

Finished goods and goods for resale

37,865

33,671

 

The Pattern Book Press Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

7

Debtors

2024
£

2023
£

Trade debtors

22,263

21,834

Other debtors

1,132

122

Prepayments

10,080

120

33,475

22,076

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

7,190

10,636

Taxation and social security

35,125

18,761

Accruals and deferred income

6,717

6,134

Other creditors

49,817

49,868

98,849

85,399

9

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

 

The Pattern Book Press Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

10

Related party transactions

Transactions with directors

2024

At 1 April 2023
£

Advances to director
£

At 31 March 2024
£

(40,465)

50

(40,415)

       
     

 

2023

At 1 April 2022
£

Other payments made to company by director
£

At 31 March 2023
£

(40,451)

(14)

(40,465)