Company registration number 07882942 (England and Wales)
PRINT DATA SOLUTIONS PAPER SALES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
PRINT DATA SOLUTIONS PAPER SALES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
PRINT DATA SOLUTIONS PAPER SALES LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investment property
3
1,500,000
1,500,000
Current assets
Debtors
4
2,950
12,450
Cash at bank and in hand
75,996
217,759
78,946
230,209
Creditors: amounts falling due within one year
5
(30,408)
(26,166)
Net current assets
48,538
204,043
Total assets less current liabilities
1,548,538
1,704,043
Provisions for liabilities
(3,314)
(3,314)
Net assets
1,545,224
1,700,729
Capital and reserves
Called up share capital
6
2,550
2,550
Profit and loss reserves
1,542,674
1,698,179
Total equity
1,545,224
1,700,729
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
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 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.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 26 June 2024 and are signed on its behalf by:
N M Shelton
Director
Company registration number 07882942 (England and Wales)
PRINT DATA SOLUTIONS PAPER SALES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information
Print Data Solutions Paper Sales Limited is a private company limited by shares incorporated in England and Wales. The registered office is 12-14 Regent Park, Booth Drive, Park Farm Industrial Estate, Wellingborough, Northants, NN8 6GR.
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, modified to include the revaluation of investment properties at fair value. The principal accounting policies adopted are set out below.
1.2
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.
1.3
Cash and cash equivalents
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.
1.4
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.5
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.
PRINT DATA SOLUTIONS PAPER SALES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
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.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.6
Leases
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
1
1
3
Investment property
2023
£
Fair value
At 1 January 2023 and 31 December 2023
1,500,000
Investment property comprises of various properties. The fair value of the investment properties has been arrived at on the basis of a valuation carried out by the directors. The valuation was made by reference to market evidence of transaction prices for similar properties.
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
2,950
12,450
PRINT DATA SOLUTIONS PAPER SALES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
23,241
18,999
Other taxation and social security
6,667
6,667
Other creditors
500
500
30,408
26,166
6
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
2,550
2,550
2,550
2,550
7
Non-distributable profits reserve
2023
2022
£
£
At the beginning and end of the year
269,178
269,178
8
Related party transactions
Transactions with related parties
During the year the company entered into the following transactions with related parties:
Rent receivable
2023
2022
£
£
Print Data Solutions Ltd
100,000
100,000
Print Data Solutions Ltd is under the control of NM Shelton.
The following amounts were outstanding at the reporting end date:
2023
2022
Amounts due from related parties
£
£
Print Data Solutions Ltd
2,950
12,450
9
Parent company
The parent company is Print Data Solutions Property Holdings Limited and its registered office is Unit 12-14, Regent Park Booth Drive, Park Farm Industrial Estate, Wellingborough, NN8 6GR.
PRINT DATA SOLUTIONS PAPER SALES LIMITED
MANAGEMENT INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023