Company Registration No. 3602125 (England and Wales)
LASERGRAPHICS LIMITED
TRADING AS BATTLEFIELD PRINTING GROUP
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
LASERGRAPHICS LIMITED
TRADING AS BATTLEFIELD PRINTING GROUP
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
LASERGRAPHICS LIMITED
TRADING AS BATTLEFIELD PRINTING GROUP
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
3
2,000
5,000
Tangible assets
4
235,650
239,306
237,650
244,306
Current assets
Stocks
600
655
Debtors
5
14,693
25,540
Cash at bank and in hand
13,232
18,524
28,525
44,719
Creditors: amounts falling due within one year
6
(82,146)
(87,551)
Net current liabilities
(53,621)
(42,832)
Total assets less current liabilities
184,029
201,474
Creditors: amounts falling due after more than one year
7
(153,030)
(183,147)
Provisions for liabilities
(6,774)
(7,470)
Net assets
24,225
10,857
Capital and reserves
Called up share capital
9
200
200
Profit and loss reserves
24,025
10,657
Total equity
24,225
10,857
LASERGRAPHICS LIMITED
TRADING AS BATTLEFIELD PRINTING GROUP
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2023
31 December 2023
- 2 -
For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 22 August 2024 and are signed on its behalf by:
Mr S P Mullins
Mr M S Jones
Director
Director
Company registration number 3602125 (England and Wales)
LASERGRAPHICS LIMITED
TRADING AS BATTLEFIELD PRINTING GROUP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
1
Accounting policies
Company information
Lasergraphics Limited is a private company limited by shares incorporated in England and Wales. The registered office is 13 Henry Close, Battlefield Enterprise Park, Shrewsbury, Shropshire, SY1 3TJ.
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 received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
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 20 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:
Freehold land and buildings
Not depreciated
Plant and equipment
20% reducing balance
Fixtures and fittings
10% reducing balance
Computers
33% 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.
LASERGRAPHICS LIMITED
TRADING AS BATTLEFIELD PRINTING GROUP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -
1.5
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
1.6
Cash at bank and in hand
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
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
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.9
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
5
5
LASERGRAPHICS LIMITED
TRADING AS BATTLEFIELD PRINTING GROUP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 January 2023 and 31 December 2023
60,000
Amortisation and impairment
At 1 January 2023
55,000
Amortisation charged for the year
3,000
At 31 December 2023
58,000
Carrying amount
At 31 December 2023
2,000
At 31 December 2022
5,000
4
Tangible fixed assets
Freehold land and buildings
Plant and equipment
Fixtures and fittings
Computers
Total
£
£
£
£
£
Cost
At 1 January 2023
200,000
189,568
85,499
38,465
513,532
Additions
1,450
2,839
4,289
At 31 December 2023
200,000
191,018
85,499
41,304
517,821
Depreciation and impairment
At 1 January 2023
166,443
71,382
36,401
274,226
Depreciation charged in the year
4,915
1,412
1,618
7,945
At 31 December 2023
171,358
72,794
38,019
282,171
Carrying amount
At 31 December 2023
200,000
19,660
12,705
3,285
235,650
At 31 December 2022
200,000
23,125
14,117
2,064
239,306
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
5,481
12,658
Other debtors
9,212
12,882
14,693
25,540
LASERGRAPHICS LIMITED
TRADING AS BATTLEFIELD PRINTING GROUP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 6 -
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
8
32,465
28,570
Trade creditors
28,036
26,109
Corporation tax
13,249
24,130
Other taxation and social security
5,684
6,040
Other creditors
852
852
Accruals and deferred income
1,860
1,850
82,146
87,551
7
Creditors: amounts falling due after more than one year
2023
2022
Notes
£
£
Bank loans and overdrafts
8
153,030
183,147
Amounts included above which fall due after five years are as follows:
Payable by instalments
31,926
41,485
8
Loans and overdrafts
2023
2022
£
£
Bank loans
185,495
211,717
Payable within one year
32,465
28,570
Payable after one year
153,030
183,147
The long-term loans are secured by fixed and floating charges over the assets and freehold property of the company.
9
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A shares of £1 each
100
100
100
100
Ordinary B shares of £1 each
100
100
100
100
200
200
200
200
LASERGRAPHICS LIMITED
TRADING AS BATTLEFIELD PRINTING GROUP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 7 -
10
Directors' transactions
Dividends totalling £32,600 (2022 - £26,400) were paid in the year in respect of shares held by the company's directors.
Advances or credits have been granted by the company to its directors as follows:
The amounts advanced to directors have been repaid in full within nine months of the year end.
Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
Interest free loan
-
4,026
2,451
(4,026)
2,451
Interest free loan
-
8,765
6,670
(8,765)
6,670
12,791
9,121
(12,791)
9,121