Registered number
01114385
JWP Colour Printers Limited
Unaudited Filleted Accounts
30 April 2024
JWP Colour Printers Limited
Registered number: 01114385
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 1 1
Tangible assets 4 372,146 385,687
372,147 385,688
Current assets
Stocks 19,111 19,529
Debtors 5 53,857 86,748
Cash at bank and in hand 1,343 98
74,311 106,375
Creditors: amounts falling due within one year 6 (64,626) (90,419)
Net current assets 9,685 15,956
Total assets less current liabilities 381,832 401,644
Provisions for liabilities (1,341) (8,171)
Net assets 380,491 393,473
Capital and reserves
Called up share capital 100 100
Profit and loss account 380,391 393,373
Shareholders' funds 380,491 393,473
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.
J L Meredith
Director
Approved by the board on 5 August 2024
JWP Colour Printers Limited
Notes to the Accounts
for the year ended 30 April 2024
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).
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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 7 years
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
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 6
3 Intangible fixed assets £
Goodwill:
Cost
At 1 May 2023 18,401
At 30 April 2024 18,401
Amortisation
At 1 May 2023 18,400
At 30 April 2024 18,400
Net book value
At 30 April 2024 1
At 30 April 2023 1
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 May 2023 440,831 355,232 24,089 820,152
At 30 April 2024 440,831 355,232 24,089 820,152
Depreciation
At 1 May 2023 100,061 312,148 22,256 434,465
Charge for the year 6,621 6,462 458 13,541
At 30 April 2024 106,682 318,610 22,714 448,006
Net book value
At 30 April 2024 334,149 36,622 1,375 372,146
At 30 April 2023 340,770 43,084 1,833 385,687
5 Debtors 2024 2023
£ £
Trade debtors 49,214 77,405
Other debtors 4,643 9,343
53,857 86,748
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts - 12,560
Trade creditors 17,129 20,013
Taxation and social security costs 17,381 22,737
Other creditors 30,116 35,109
64,626 90,419
7 Loans 2024 2023
£ £
Creditors include:
Secured bank loans - 9,420
The bank loan is secured by a legal charge over the company's leasehold premises.
8 Related party transactions
At 30 April 2024 the company owed £27,728 to two of its directors (2023: £32,728). No interest has been charged to the company in respect of these loans which are repayable on demand and classified in creditors due within one year.
9 Other information
JWP Colour Printers Limited is a private company limited by shares and incorporated in England. Its registered office is:
416 Northenden Road
Sale
Cheshire
M33 2PR
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