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REGISTERED NUMBER: 03744718 (England and Wales)















Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 31 December 2023

for

Allprint Supplies Limited

Allprint Supplies Limited (Registered number: 03744718)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 4

Income Statement 8

Other Comprehensive Income 9

Balance Sheet 10

Statement of Changes in Equity 11

Cash Flow Statement 12

Notes to the Cash Flow Statement 13

Notes to the Financial Statements 14


Allprint Supplies Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mr A G K Wallace
Mr P Noble
Ms L S Hart
Mr R Wallace





SECRETARY: Mr A G K Wallace





REGISTERED OFFICE: 7b Fairlie Road
Slough
Berkshire
SL1 4PY





REGISTERED NUMBER: 03744718 (England and Wales)





AUDITORS: WP Audit Limited
Statutory Auditors
TOR
Saint-Cloud Way
Maidenhead
Berkshire
SL6 8BN

Allprint Supplies Limited (Registered number: 03744718)

Strategic Report
for the Year Ended 31 December 2023

The directors present their strategic report for the year ended 31 December 2023.

REVIEW OF BUSINESS
Sales in 2023 decreased by 2.3%. This decrease is attributed primarily to deflation in the supply chain with material prices slowly returning to pre COVID-19 levels. Margins were acceptable in a very competitive market place. We expect some minor sales growth of up to 5% in 2024.region.

PRINCIPAL RISKS AND UNCERTAINTIES
The Directors feel that there is low risk associated with the business currently due to the number of customers and the diverse sectors in which we operate.
Foreign currency remains an issue as most of our purchases are from the European Union.

Development and performance
We like to offer our customers a wide choice of brands and the best and most innovative products. To sustain this effort, we have continued to invest in research and development, this will help move the business forward in the coming years.

Treasury operations and financial instruments
The company's financial instruments comprise cast at bank, trade receivables and payables that arise from operations, bank loans, hire purchase and financial lease contracts. The financial risk affecting the company is monitored by the board on a regular basis.

Interest rate risk
The company has interest bearing assets and liabilities. Interest bearing assets include cash balances which earn interest at variable bank rates. Interest bearing liabilities include bank loans which attract interest at variable bank rates. The directors will review the appropriateness of these assets and liabilities to ensure that it is consistent with the company's activities.

Credit risk
Trade debtors are the company's principal exposure in relation to financial assets. The company monitors credit risk closely and considers that its current policies of credit checking meets its objectives of managing exposure. The company has no significant concentration of credit risk.

Financial key performance indicators
We consider that our key performance indicators are those that communicate the financial performance and the strength of the company as a whole; those being turnover, margin, EBITDA and the return on capital employed.

Greenhouse Gases Report
As part of our push towards Net Zero and PAS 2060 accreditation we have calculated our GHG emissions for 2023.

CO2 equivalent emissions in tonnes 2023
Scope 1 direct emissions 231.8
Scope 2 indirect emissions 17.3
Scope 3 other indirect emissions 319.1
TOTAL EMISSIONS 568.2
Intensity ratio in tCO2e per £1,000 sales 0.0353
Plans are in place to improve our Intensity Ratio in 2024.

ON BEHALF OF THE BOARD:





Mr A G K Wallace - Director


15 July 2024

Allprint Supplies Limited (Registered number: 03744718)

Report of the Directors
for the Year Ended 31 December 2023

The directors present their report with the financial statements of the company for the year ended 31 December 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of manufacture of printed labels.

DIVIDENDS
An interim dividend of £0.2551397 per share was paid on 30 June 2023. The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 31 December 2023 will be £ 250,184 .

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2023 to the date of this report.

Mr A G K Wallace
Mr P Noble
Ms L S Hart
Mr R Wallace

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ON BEHALF OF THE BOARD:





Mr A G K Wallace - Director


15 July 2024

Report of the Independent Auditors to the Members of
Allprint Supplies Limited

Opinion
We have audited the financial statements of Allprint Supplies Limited (the 'company') for the year ended 31 December 2023 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 December 2023 and of its loss for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Allprint Supplies Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Allprint Supplies Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlines above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Extent to which the audit was considered capable of detecting irregularities, including fraud.

-The engagement partners ensured that the engagement team collectively had the appropriate competence, capabilities and skill to identify or recognise non-compliance with applicable laws and regulations;

-we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the sector;

-we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and data protection, anti-bribery, employment, environmental and health and safety legislation;

-we assessed the extent of compliance with laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and

-identified laws and regulations were communicated within the audit team regularly and the team remained alert to instance of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by;

-making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud;

-considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations; and

-understanding the design of the company's remuneration policies.

To address the risk of fraud through management bias and override of controls, we;

-performed analytical procedures to identify unusual or unexpected relationships;

-tested journal entries to identify unusual transactions;

-assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and

-investigated the rationale behind significant or unusual transactions.

Audit response to risks identified
In response to the risk of irregularities and non-compliance with laws and regulations; we designed procedures which included, but were not limited to;

-agreeing financial statement disclosures to underlying supporting documentation;
-enquiring of management as to actual and potential litigation and claims; and
-reviewing correspondence with HMRC, relevant regulators and company's legal advisors.


Report of the Independent Auditors to the Members of
Allprint Supplies Limited

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment of collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Philippa Duckworth BSc FCCA (Senior Statutory Auditor)
for and on behalf of WP Audit Limited
Statutory Auditors
TOR
Saint-Cloud Way
Maidenhead
Berkshire
SL6 8BN

15 July 2024

Allprint Supplies Limited (Registered number: 03744718)

Income Statement
for the Year Ended 31 December 2023

31.12.23 31.12.22
Notes £    £   

TURNOVER 3 16,078,171 16,604,410

Cost of sales (11,836,992 ) (11,476,442 )
GROSS PROFIT 4,241,179 5,127,968

Distribution costs (2,107,112 ) (1,949,701 )
Administrative expenses (2,342,447 ) (2,090,682 )
(208,380 ) 1,087,585

Other operating income 167,042 111
OPERATING (LOSS)/PROFIT 5 (41,338 ) 1,087,696


Interest payable and similar expenses 6 (114,029 ) (73,951 )
(LOSS)/PROFIT BEFORE TAXATION (155,367 ) 1,013,745

Tax on (loss)/profit 7 (19,305 ) 40,396
(LOSS)/PROFIT FOR THE FINANCIAL YEAR (174,672 ) 1,054,141

Allprint Supplies Limited (Registered number: 03744718)

Other Comprehensive Income
for the Year Ended 31 December 2023

31.12.23 31.12.22
Notes £    £   

(LOSS)/PROFIT FOR THE YEAR (174,672 ) 1,054,141


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR THE YEAR (174,672 ) 1,054,141

Allprint Supplies Limited (Registered number: 03744718)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £   
FIXED ASSETS
Intangible assets 9 18,000 20,000
Tangible assets 10 1,067,183 1,195,228
Investments 11 147,000 147,000
1,232,183 1,362,228

CURRENT ASSETS
Stocks 12 2,418,072 3,023,180
Debtors 13 3,898,630 3,623,811
Cash at bank and in hand 162,859 135,522
6,479,561 6,782,513
CREDITORS
Amounts falling due within one year 14 (3,234,784 ) (3,078,011 )
NET CURRENT ASSETS 3,244,777 3,704,502
TOTAL ASSETS LESS CURRENT LIABILITIES 4,476,960 5,066,730

CREDITORS
Amounts falling due after more than one year 15 (288,139 ) (424,015 )

PROVISIONS FOR LIABILITIES 18 (84,519 ) (113,557 )
NET ASSETS 4,104,302 4,529,158

CAPITAL AND RESERVES
Called up share capital 19 490,289 490,289
Retained earnings 20 3,614,013 4,038,869
SHAREHOLDERS' FUNDS 4,104,302 4,529,158

The financial statements were approved by the Board of Directors and authorised for issue on 15 July 2024 and were signed on its behalf by:




Mr A G K Wallace - Director Mr R Wallace - Director




Ms L S Hart - Director Mr P Noble - Director


Allprint Supplies Limited (Registered number: 03744718)

Statement of Changes in Equity
for the Year Ended 31 December 2023

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 January 2022 490,289 3,384,728 3,875,017

Changes in equity
Dividends - (400,000 ) (400,000 )
Total comprehensive income - 1,054,141 1,054,141
Balance at 31 December 2022 490,289 4,038,869 4,529,158

Changes in equity
Dividends - (250,184 ) (250,184 )
Total comprehensive income - (174,672 ) (174,672 )
Balance at 31 December 2023 490,289 3,614,013 4,104,302

Allprint Supplies Limited (Registered number: 03744718)

Cash Flow Statement
for the Year Ended 31 December 2023

31.12.23 31.12.22
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 944,291 523,986
Interest paid (78,309 ) (44,896 )
Interest element of hire purchase payments paid (35,720 ) (29,055 )
Tax paid (92,800 ) 13,637
Net cash from operating activities 737,462 463,672

Cash flows from investing activities
Purchase of intangible fixed assets - (20,000 )
Purchase of tangible fixed assets (241,599 ) (279,396 )
Sale of tangible fixed assets 47,666 77,147
Net cash from investing activities (193,933 ) (222,249 )

Cash flows from financing activities
Capital repayments in year (157,888 ) (77,170 )
Amount introduced by directors (348,379 ) (84,529 )
Amount withdrawn by directors 240,259 353,846
Equity dividends paid (250,184 ) (400,000 )
Net cash from financing activities (516,192 ) (207,853 )

Increase in cash and cash equivalents 27,337 33,570
Cash and cash equivalents at beginning of year 2 135,522 101,952

Cash and cash equivalents at end of year 2 162,859 135,522

Allprint Supplies Limited (Registered number: 03744718)

Notes to the Cash Flow Statement
for the Year Ended 31 December 2023

1. RECONCILIATION OF (LOSS)/PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS
31.12.23 31.12.22
£    £   
(Loss)/profit before taxation (155,367 ) 1,013,745
Depreciation charges 333,598 334,184
Profit on disposal of fixed assets (9,618 ) (22,935 )
Finance costs 114,029 73,951
282,642 1,398,945
Decrease/(increase) in stocks 605,108 (786,675 )
Decrease/(increase) in trade and other debtors 152,181 (398,051 )
(Decrease)/increase in trade and other creditors (95,640 ) 309,767
Cash generated from operations 944,291 523,986

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 December 2023
31.12.23 1.1.23
£    £   
Cash and cash equivalents 162,859 135,522
Year ended 31 December 2022
31.12.22 1.1.22
£    £   
Cash and cash equivalents 135,522 101,952


3. ANALYSIS OF CHANGES IN NET DEBT

At 1.1.23 Cash flow At 31.12.23
£    £    £   
Net cash
Cash at bank and in hand 135,522 27,337 162,859
135,522 27,337 162,859
Debt
Finance leases (706,585 ) 157,888 (548,697 )
(706,585 ) 157,888 (548,697 )
Total (571,063 ) 185,225 (385,838 )

Allprint Supplies Limited (Registered number: 03744718)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Allprint Supplies 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. 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
In the application of the company's accounting policies the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Turnover
Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Revenue is recognised when goods are dispatched to the customer, which is when the goods are invoiced.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of ten years.

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.
Short leasehold - over the lease term
Improvements to property - 20% on cost
Plant and machinery - 15% reducing balance
Motor vehicles - 33% reducing balance
Computer equipment - 33% on cost
Printers - 50% on cost
F&F office equipment - 15% reducing balance

Stocks
Stocks are measured at the lower of cost and net realisable value, being the estimated selling price less the costs to complete and sell.

Cost is based on the cost of purchase on a first in, first out basis. Cost includes all costs of purchase, conversion and other costs in bringing the stock to its present location and condition.

At each reporting date, stock is assessed for impairment, obsolete and slow moving items.

Allprint Supplies Limited (Registered number: 03744718)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
Basic financial instruments are recognised at amortised cost using the effective interest method, except for investments in non-convertible preference and non-puttable preference and ordinary shares, which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value, with changes recognised in profit and loss.

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
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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

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

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Invoice financing facility
The company discounts its trade debts. The accounting policy is to include trade debtors within one year and the returnable element of the proceeds within current liabilities. Discounting charges and interest is charged to the profit and loss account when paid. Bad debts are borne by the company and are charged to the profit and loss account when incurred.

Investments
Investments in associates are recognised at the cost less any accumulated impairment.

Allprint Supplies Limited (Registered number: 03744718)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

3. TURNOVER

The turnover and loss (2022 - profit) before taxation are attributable to the one principal activity of the company.

An analysis of turnover by geographical market is given below:

31.12.23 31.12.22
£    £   
United Kingdom 16,065,782 16,567,406
Europe 7,340 31,955
Rest of World 5,049 5,049
16,078,171 16,604,410

4. EMPLOYEES AND DIRECTORS
31.12.23 31.12.22
£    £   
Wages and salaries 2,722,632 2,538,105
Social security costs 209,634 218,219
Other pension costs 204,093 178,760
3,136,359 2,935,084

The average number of employees during the year was as follows:
31.12.23 31.12.22

Office and management 21 22
Production, distribution and selling 41 40
62 62

31.12.23 31.12.22
£    £   
Directors' remuneration 702,204 635,988
Directors' pension contributions to money purchase schemes 44,154 16,837

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 4 2

Information regarding the highest paid director is as follows:
31.12.23 31.12.22
£    £   
Emoluments etc 306,676 318,334

Allprint Supplies Limited (Registered number: 03744718)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. OPERATING (LOSS)/PROFIT

The operating loss (2022 - operating profit) is stated after charging/(crediting):

31.12.23 31.12.22
£    £   
Hire of plant and machinery 25,563 32,294
Other operating leases 641,312 624,317
Depreciation - owned assets 177,772 244,454
Depreciation - assets on hire purchase contracts 153,824 89,730
Profit on disposal of fixed assets (9,618 ) (22,935 )
Goodwill amortisation 2,000 -
Auditors' remuneration 20,465 16,800
Foreign exchange differences 346 41,346

6. INTEREST PAYABLE AND SIMILAR EXPENSES
31.12.23 31.12.22
£    £   
Bank interest 78,309 44,896
Hire purchase 35,720 29,055
114,029 73,951

7. TAXATION

Analysis of the tax charge/(credit)
The tax charge/(credit) on the loss for the year was as follows:
31.12.23 31.12.22
£    £   
Current tax:
UK corporation tax 48,343 (31,723 )

Deferred tax (29,038 ) (8,673 )
Tax on (loss)/profit 19,305 (40,396 )

Reconciliation of total tax charge/(credit) included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

31.12.23 31.12.22
£    £   
(Loss)/profit before tax (155,367 ) 1,013,745
(Loss)/profit multiplied by the standard rate of corporation tax in the UK of 19%
(2022 - 19%)

(29,520

)

192,612

Effects of:
Expenses not deductible for tax purposes 3,294 2,450
Capital allowances in excess of depreciation - (11,248 )
Depreciation in excess of capital allowances 45,531 -
R&D enhanced deduction - (85,530 )
Timing differences - (138,680 )
Total tax charge/(credit) 19,305 (40,396 )

Allprint Supplies Limited (Registered number: 03744718)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

8. DIVIDENDS
31.12.23 31.12.22
£    £   
Ordinary shares of 50p each
Interim 250,184 400,000

9. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 20,000
AMORTISATION
Amortisation for year 2,000
At 31 December 2023 2,000
NET BOOK VALUE
At 31 December 2023 18,000
At 31 December 2022 20,000

10. TANGIBLE FIXED ASSETS
Improvements
Short to Plant and
leasehold property machinery
£    £    £   
COST
At 1 January 2023 57,491 42,495 1,805,895
Additions - - 2,868
Disposals - - -
At 31 December 2023 57,491 42,495 1,808,763
DEPRECIATION
At 1 January 2023 34,562 42,383 1,031,845
Charge for year 3,834 112 133,934
Eliminated on disposal - - -
At 31 December 2023 38,396 42,495 1,165,779
NET BOOK VALUE
At 31 December 2023 19,095 - 642,984
At 31 December 2022 22,929 112 774,050

Allprint Supplies Limited (Registered number: 03744718)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

10. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023 732,815 526,341 3,165,037
Additions 232,053 6,678 241,599
Disposals (153,201 ) (73,346 ) (226,547 )
At 31 December 2023 811,667 459,673 3,180,089
DEPRECIATION
At 1 January 2023 394,055 466,964 1,969,809
Charge for year 169,020 24,696 331,596
Eliminated on disposal (115,153 ) (73,346 ) (188,499 )
At 31 December 2023 447,922 418,314 2,112,906
NET BOOK VALUE
At 31 December 2023 363,745 41,359 1,067,183
At 31 December 2022 338,760 59,377 1,195,228

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Improvements
to Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 January 2023 17,050 21,557 788,125 826,732
Additions - - 121,443 121,443
Disposals - - (153,201 ) (153,201 )
At 31 December 2023 17,050 21,557 756,367 794,974
DEPRECIATION
At 1 January 2023 17,050 13,427 388,868 419,345
Charge for year - 1,219 152,605 153,824
Eliminated on disposal - - (115,153 ) (115,153 )
At 31 December 2023 17,050 14,646 426,320 458,016
NET BOOK VALUE
At 31 December 2023 - 6,911 330,047 336,958
At 31 December 2022 - 8,130 399,257 407,387

Allprint Supplies Limited (Registered number: 03744718)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

11. FIXED ASSET INVESTMENTS
Listed
investments
£   
COST
At 1 January 2023
and 31 December 2023 147,000
NET BOOK VALUE
At 31 December 2023 147,000
At 31 December 2022 147,000

The company's fixed asset investment relates to the investment in Nu-Coat Ltd, in which they have a 49% shareholding. The nature of business of Nu-Coat Ltd relates to manufacture of print media and has a registered office within the UK.

Nu-Coat Ltd had a capital reserves position at 31 January 2024 -£241,666 (2022: £90,501) and made a loss for the year of £332,167 (2022: £68,499 profit).

12. STOCKS
31.12.23 31.12.22
£    £   
Finished goods 2,418,072 3,023,180

13. DEBTORS
31.12.23 31.12.22
£    £   
Amounts falling due within one year:
Trade debtors 2,041,696 2,222,460
Other debtors 147,120 -
Prepayments and accrued income 428,214 546,751
2,617,030 2,769,211

Amounts falling due after more than one year:
Amounts owed by participating interests 1,281,600 854,600

Aggregate amounts 3,898,630 3,623,811

Allprint Supplies Limited (Registered number: 03744718)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts (see note 16) 260,558 282,570
Trade creditors 1,363,754 1,220,869
Tax - 44,455
Social security and other taxes 86,379 84,104
VAT 341,471 284,976
Other creditors 20,899 7,784
Invoices discounted with bank 444,758 260,270
Directors' loan accounts 601,155 709,275
Accruals and deferred income 115,810 183,708
3,234,784 3,078,011

15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts (see note 16) 288,139 424,015

16. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.12.23 31.12.22
£    £   
Net obligations repayable:
Within one year 260,558 282,570
Between one and five years 288,139 424,015
548,697 706,585

Non-cancellable operating leases
31.12.23 31.12.22
£    £   
Within one year 524,489 524,489
Between one and five years 2,097,956 2,097,956
In more than five years 480,782 1,005,271
3,103,227 3,627,716

Allprint Supplies Limited (Registered number: 03744718)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

17. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Invoice financing facility 444,758 260,270
Hire Purchase agreements 548,696 706,584
993,454 966,854

The invoice discounting liability is secured by a fixed and floating charge over the assets of the company.
The hire purchase liabilities are secured on the assets to which the financing relates.

18. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax
Accelerated capital allowances 84,519 113,557

Deferred
tax
£   
Balance at 1 January 2023 113,557
Provided during year (29,038 )
Balance at 31 December 2023 84,519

Other provision relates to bad debt provision.

19. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
980,577 Ordinary 50p 490,289 490,289

The shares constitute a single class of shares with the same rights in respect of income, capital and voting.

20. RESERVES
Retained
earnings
£   

At 1 January 2023 4,038,869
Deficit for the year (174,672 )
Dividends (250,184 )
At 31 December 2023 3,614,013

Allprint Supplies Limited (Registered number: 03744718)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

21. PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension costs represent the contributions payable by the company to the fund within the year and totalled to £204,093 (2022: £178,760).

22. RELATED PARTY DISCLOSURES

Included within Creditors due within one year are amounts of £601,155 (2022: £709,275) due to the directors of the company.

Included within Debtors due after more than one year are amounts of £1,281,600 (2022: £854,600) owed from an associate.

During the year the company made purchases of £2,018,592 (2022: £2,372,683) and sales of £2,454,543 (2022: £180,468) with an associate.

23. ULTIMATE CONTROLLING PARTY

The controlling party is Mr A G K Wallace.