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REGISTERED NUMBER: 02721269 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 May 2024

for

AbbeyPrint Limited

AbbeyPrint Limited (Registered number: 02721269)

Contents of the Financial Statements
for the Year Ended 31 May 2024










Page

Company information 1

Chartered accountants' report 2

Statement of financial position 3 to 4

Notes to the financial statements 5 to 10


AbbeyPrint Limited

Company Information
for the Year Ended 31 May 2024







Directors: Mrs K Pell
Mrs H D Slinger
Miss M Frisby
T J Stray





Secretary: Miss M Frisby





Registered office: Bank House
Broad Street
Spalding
Lincolnshire
PE11 1TB





Business address: Benner Road
Wardentree Lane Ind. Est
Pinchbeck
Spalding
Lincolnshire
PE11 3TZ





Registered number: 02721269 (England and Wales)





Accountants: Moore Thompson
Bank House
Broad Street
Spalding
Lincolnshire
PE11 1TB

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
AbbeyPrint Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of financial position. Readers are cautioned that the Income statement and certain other primary statements and the Report of the directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of AbbeyPrint Limited for the year ended 31 May 2024 which comprise the Income statement, Statement of financial position, Statement of changes in equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of AbbeyPrint Limited, as a body, in accordance with the terms of our engagement letter dated 21 June 2019. Our work has been undertaken solely to prepare for your approval the financial statements of AbbeyPrint Limited and state those matters that we have agreed to state to the Board of Directors of AbbeyPrint Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than AbbeyPrint Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that AbbeyPrint Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of AbbeyPrint Limited. You consider that AbbeyPrint Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of AbbeyPrint Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Moore Thompson
Bank House
Broad Street
Spalding
Lincolnshire
PE11 1TB


7 August 2024

AbbeyPrint Limited (Registered number: 02721269)

Statement of Financial Position
31 May 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Intangible assets 5 22,400 25,600
Tangible assets 6 918,331 936,132
940,731 961,732

Current assets
Stocks 70,340 86,953
Debtors 7 252,088 333,537
Cash at bank and in hand 152,603 191,868
475,031 612,358
Creditors
Amounts falling due within one year 8 214,253 204,385
Net current assets 260,778 407,973
Total assets less current liabilities 1,201,509 1,369,705

Creditors
Amounts falling due after more than one
year

9

(228,345

)

(256,632

)

Provisions for liabilities (33,238 ) (36,034 )
Net assets 939,926 1,077,039

Capital and reserves
Called up share capital 12 1,480 1,680
Share premium 120,522 120,522
Capital redemption reserve 10,670 10,470
Retained earnings 807,254 944,367
Shareholders' funds 939,926 1,077,039

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

AbbeyPrint Limited (Registered number: 02721269)

Statement of Financial Position - continued
31 May 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 August 2024 and were signed on its behalf by:




Mrs H D Slinger - Director Mrs K Pell - Director




Miss M Frisby - Director T J Stray - Director


AbbeyPrint Limited (Registered number: 02721269)

Notes to the Financial Statements
for the Year Ended 31 May 2024


1. Statutory information

AbbeyPrint Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

In respect of contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of contracts for on-going services is recognised by reference to the stage of completion.

Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business.

Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life.

Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

Goodwill- 10% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

AbbeyPrint Limited (Registered number: 02721269)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024


3. Accounting policies - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold property- not depreciated
Plant and machinery - 15% reducing balance
Computer equipment - 20% straight line
Motor vehicles - 25% reducing balance
Fixtures and office equipment- 15% reducing balance

Depreciation is not provided on freehold property where, in the opinion of the directors, the residual value of that land and property is such that any depreciation charge would be immaterial.

Impairment of fixed assets
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.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

AbbeyPrint Limited (Registered number: 02721269)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024


3. Accounting policies - continued

Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities.

Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Defined contribution plans
The company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.

Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

AbbeyPrint Limited (Registered number: 02721269)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024


4. Employees and directors

The average number of employees during the year was 18 (2023 - 18 ) .

5. Intangible fixed assets
Goodwill
£   
Cost
At 1 June 2023
and 31 May 2024 32,000
Amortisation
At 1 June 2023 6,400
Charge for year 3,200
At 31 May 2024 9,600
Net book value
At 31 May 2024 22,400
At 31 May 2023 25,600

6. Tangible fixed assets
Fixtures
and
Freehold Plant and office
property machinery equipment
£    £    £   
Cost
At 1 June 2023 730,102 1,046,925 53,966
Additions - 16,155 -
At 31 May 2024 730,102 1,063,080 53,966
Depreciation
At 1 June 2023 - 853,404 47,224
Charge for year - 31,452 1,011
At 31 May 2024 - 884,856 48,235
Net book value
At 31 May 2024 730,102 178,224 5,731
At 31 May 2023 730,102 193,521 6,742

AbbeyPrint Limited (Registered number: 02721269)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024


6. Tangible fixed assets - continued

Motor Computer
vehicles equipment Totals
£    £    £   
Cost
At 1 June 2023 35,897 44,873 1,911,763
Additions - 575 16,730
At 31 May 2024 35,897 45,448 1,928,493
Depreciation
At 1 June 2023 31,252 43,751 975,631
Charge for year 1,161 907 34,531
At 31 May 2024 32,413 44,658 1,010,162
Net book value
At 31 May 2024 3,484 790 918,331
At 31 May 2023 4,645 1,122 936,132

7. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 243,610 324,917
Prepayments 8,478 8,620
252,088 333,537

8. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 27,365 26,250
Trade creditors 116,409 110,505
Corporation tax 9,492 8,806
Social security and other taxes 8,159 5,725
VAT 33,887 38,149
Other creditors 2,298 1,766
Accruals and deferred income 16,643 13,184
214,253 204,385

9. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans 228,345 256,632

As at 31 May 2023 bank loans falling due in more than five years amounted to £106,302 (2023 - £139,545).

AbbeyPrint Limited (Registered number: 02721269)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024


10. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 17,100 17,100
Between one and five years 29,925 47,025
47,025 64,125

11. Secured debts

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 255,710 282,882

Bank loans and overdrafts are secured on the assets of the company

12. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,000 Ordinary shares £1 1,000 1,000
480 Ordinary 'B' shares £1 480 680
1,480 1,680