Company Registration No. 06624406 (England and Wales)
DEK GRAPHICS & PRINT LIMITED
ANNUAL REPORT AND UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023
PAGES FOR FILING WITH REGISTRAR
DEK GRAPHICS & PRINT LIMITED
BALANCE SHEET
AS AT
31 OCTOBER 2023
31 October 2023
1
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
186,827
99,461
Current assets
Stocks
4,213
5,571
Debtors
5
45,519
65,136
Cash at bank and in hand
55,253
51,288
104,985
121,995
Creditors: amounts falling due within one year
6
(115,060)
(106,007)
Net current (liabilities)/assets
(10,075)
15,988
Total assets less current liabilities
176,752
115,449
Creditors: amounts falling due after more than one year
7
(145,933)
(101,219)
Provisions for liabilities
(25,499)
(13,228)
Net assets
5,320
1,002
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
5,220
902
Total equity
5,320
1,002
DEK GRAPHICS & PRINT LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 OCTOBER 2023
31 October 2023
2

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 31 July 2024 and are signed on its behalf by:
Mr P Horton
Director
Company Registration No. 06624406
DEK GRAPHICS & PRINT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023
3
1
Accounting policies
Company information

DEK Graphics & Print Limited is a private company limited by shares incorporated in England and Wales. The registered office is 7 Bournemouth Road, Chandler's Ford, Eastleigh, Hampshire, SO53 3DA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration receivable for goods and services provided in the normal course of business, and is shown net of VAT.

1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is ten years.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings leasehold
Over term of the lease
Plant and machinery
25% reducing balance / 20% straight line
Fixtures, fittings and equipment
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

DEK GRAPHICS & PRINT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
1
Accounting policies (Continued)
4
1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include debtors, cash and bank balances and loans to fellow group companies, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans and finance leases, are initially recognised at transaction price and subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities classified as payable within one year are not amortised.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

DEK GRAPHICS & PRINT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
1
Accounting policies (Continued)
5
1.9
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
4
3
3
Intangible fixed assets
Goodwill
£
Cost
At 1 November 2022 and 31 October 2023
76,999
Amortisation and impairment
At 1 November 2022 and 31 October 2023
76,999
Carrying amount
At 31 October 2023
-
0
At 31 October 2022
-
0
DEK GRAPHICS & PRINT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
6
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 November 2022
1
193,966
193,967
Additions
2,040
159,442
161,482
Disposals
-
0
(107,688)
(107,688)
At 31 October 2023
2,041
245,720
247,761
Depreciation and impairment
At 1 November 2022
-
0
94,506
94,506
Depreciation charged in the year
680
19,825
20,505
Eliminated in respect of disposals
-
0
(54,077)
(54,077)
At 31 October 2023
680
60,254
60,934
Carrying amount
At 31 October 2023
1,361
185,466
186,827
At 31 October 2022
1
99,460
99,461
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
25,988
35,735
Other debtors
19,531
29,401
45,519
65,136
DEK GRAPHICS & PRINT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
7
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
10,000
10,000
Trade creditors
28,568
39,370
Taxation and social security
982
893
Other creditors
75,510
55,744
115,060
106,007

Other creditors include amounts owed under hire purchase agreements totaling £37,036 (2022: £32,953) which are secured against the assets to which they relate.

7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
15,938
25,938
Other creditors
129,995
75,281
145,933
101,219

Other creditors include amounts owed under hire purchase agreements totaling £129,995 (2022: £75,281) which are secured against the assets to which they relate.

8
Operating lease commitments

At the balance sheet date the company has total commitments of £46,423 (2022: £92,457).

9
Related party transactions

At the year end the company owed £NIL to (2022: £7,594 due from) Digital Printworks Limited, a company with common shareholders and directors.

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