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REGISTERED NUMBER: 04221134 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

P I (UK) LIMITED

P I (UK) LIMITED (REGISTERED NUMBER: 04221134)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


P I (UK) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: M J Sullivan
J J Sullivan
D P Sullivan





SECRETARY: K Sullivan





REGISTERED OFFICE: Ground Floor
Egerton House
68 Baker Street
Weybridge
Surrey
KT13 8AL





REGISTERED NUMBER: 04221134 (England and Wales)





ACCOUNTANTS: RJP LLP
Ground Floor
Egerton House
68 Baker Street
Weybridge
Surrey
KT13 8AL

P I (UK) LIMITED (REGISTERED NUMBER: 04221134)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 266,332 425,662

CURRENT ASSETS
Stocks 13,100 45,443
Debtors 5 600,927 874,343
Cash at bank 421,271 268,696
1,035,298 1,188,482
CREDITORS
Amounts falling due within one year 6 605,596 654,152
NET CURRENT ASSETS 429,702 534,330
TOTAL ASSETS LESS CURRENT
LIABILITIES

696,034

959,992

CREDITORS
Amounts falling due after more than one
year

7

(150,579

)

(519,584

)

PROVISIONS FOR LIABILITIES 9 (63,247 ) (31,936 )
NET ASSETS 482,208 408,472

CAPITAL AND RESERVES
Called up share capital 10 800 800
Capital redemption reserve 600 600
Retained earnings 480,808 407,072
SHAREHOLDERS' FUNDS 482,208 408,472

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

P I (UK) LIMITED (REGISTERED NUMBER: 04221134)

BALANCE SHEET - continued
31 DECEMBER 2023


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 10 September 2024 and were signed on its behalf by:





D P Sullivan - Director


P I (UK) LIMITED (REGISTERED NUMBER: 04221134)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

P I (UK) 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.

2. ACCOUNTING POLICIES

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

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents net invoiced sales of printed goods, printing services and recharged postage, excluding Value Added Tax and trade discounts.

Turnover is recognised once the goods have been supplied and services rendered.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on cost and 10% on cost
Fixtures, fittings & equipment - 33.33% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33.33% on cost

Stocks
Stock comprises goods held for resale, which are valued at the lower of cost or net realisable value.

Cost of stock is based on the purchase price.

Net realisable value is defined as the estimated selling price less costs to complete and sell.

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 balance sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

P I (UK) LIMITED (REGISTERED NUMBER: 04221134)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Hire purchase
Assets obtained under hire purchase contracts are capitalised in the balance sheet and depreciated over their estimated useful lives.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2022 - 19 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 1,979,520
Additions 41,796
Disposals (1,416,746 )
At 31 December 2023 604,570
DEPRECIATION
At 1 January 2023 1,553,858
Charge for year 134,890
Eliminated on disposal (1,350,510 )
At 31 December 2023 338,238
NET BOOK VALUE
At 31 December 2023 266,332
At 31 December 2022 425,662

P I (UK) LIMITED (REGISTERED NUMBER: 04221134)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 January 2023
and 31 December 2023 208,075
DEPRECIATION
At 1 January 2023 17,340
Charge for year 41,615
At 31 December 2023 58,955
NET BOOK VALUE
At 31 December 2023 149,120
At 31 December 2022 190,735

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 188,340 450,495
Other debtors 412,587 423,848
600,927 874,343

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 67,605 61,991
Hire purchase contracts (see note 8) 89,468 194,955
Trade creditors 273,532 266,630
Taxation and social security 64,781 22,687
Other creditors 110,210 107,889
605,596 654,152

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans 86,648 154,253
Hire purchase contracts (see note 8) 63,931 365,331
150,579 519,584

P I (UK) LIMITED (REGISTERED NUMBER: 04221134)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


8. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

31.12.23 31.12.22
£    £   
Net obligations repayable:
Within one year 89,468 194,955
Between one and five years 63,931 365,331
153,399 560,286

9. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax 63,247 31,936

Deferred
tax
£   
Balance at 1 January 2023 31,936
Provided during year 31,311
Balance at 31 December 2023 63,247

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
341 Ordinary A £1 341 341
350 Ordinary B £1 350 350
80 Ordinary C £1 80 80
29 Ordinary D £1 29 29
800 800

11. PARENT COMPANY

The immediate and ultimate parent company is Positive Print Group Ltd, a company registered in England and Wales.

Group accounts are not prepared because the group qualifies as a small group.