Registered number
13477412
PRINTAZ LTD
Filleted Accounts
30 April 2024
PRINTAZ LTD
Registered number: 13477412
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 42,000 48,000
Tangible assets 4 71,273 64,865
113,273 112,865
Current assets
Stocks 9,520 13,680
Debtors 5 12,015 9,263
Cash at bank and in hand 62,712 29,210
84,247 52,153
Creditors: amounts falling due within one year 6 (47,051) (24,899)
Net current assets 37,196 27,254
Total assets less current liabilities 150,469 140,119
Creditors: amounts falling due after more than one year 7 (26,620) (26,781)
Net assets 123,849 113,338
Capital and reserves
Called up share capital 109,950 109,950
Profit and loss account 13,899 3,388
Shareholders' funds 123,849 113,338
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.
MOHAMMED SAEED SUFI
Director
Approved by the board on 2 July 2024
PRINTAZ LTD
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, 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 over 10 years
Fixtures, fittings, tools and equipment over 10 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.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 7 7
3 Intangible fixed assets £
Goodwill:
Cost
At 1 May 2023 60,000
At 30 April 2024 60,000
Amortisation
At 1 May 2023 12,000
Provided during the year 6,000
At 30 April 2024 18,000
Net book value
At 30 April 2024 42,000
At 30 April 2023 48,000
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 May 2023 78,942
Additions 15,891
At 30 April 2024 94,833
Depreciation
At 1 May 2023 14,077
Charge for the year 9,483
At 30 April 2024 23,560
Net book value
At 30 April 2024 71,273
At 30 April 2023 64,865
5 Debtors 2024 2023
£ £
Trade debtors 12,015 9,263
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 5,171 3,500
Taxation (Corporation Tax) 4,060 2,611
Other creditors 37,820 18,788
47,051 24,899
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 19,000 19,000
Directors Loan 7,620 7,781
26,620 26,781
8 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
M Saeed Sufi
[Loan 1] - - 7,620 7,620
- - 7,620 7,620
9 Controlling party
The company is under the control of Lubna Holdings Ltd by virtue of them owning 51% of the issued share capital.
10 Other information
PRINTAZ LTD is a private company limited by shares and incorporated in England. Its registered office is:
UNIT 1, GROVE ST
DEWSBURY
WF13 1LW
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