Acorah Software Products - Accounts Production 15.0.600 false true 31 July 2023 1 August 2022 false 1 August 2023 31 July 2024 31 July 2024 SC209251 Dr Lucy Harrier Dr Sarah Goodfellow Prepress Projects Trustees Limited (an Employee Ownership Trust) true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC209251 2023-07-31 SC209251 2024-07-31 SC209251 2023-08-01 2024-07-31 SC209251 frs-core:CurrentFinancialInstruments 2024-07-31 SC209251 frs-core:ComputerEquipment 2024-07-31 SC209251 frs-core:ComputerEquipment 2023-08-01 2024-07-31 SC209251 frs-core:ComputerEquipment 2023-07-31 SC209251 frs-core:FurnitureFittings 2024-07-31 SC209251 frs-core:FurnitureFittings 2023-08-01 2024-07-31 SC209251 frs-core:FurnitureFittings 2023-07-31 SC209251 frs-core:MotorVehicles 2023-08-01 2024-07-31 SC209251 frs-core:PlantMachinery 2024-07-31 SC209251 frs-core:PlantMachinery 2023-08-01 2024-07-31 SC209251 frs-core:PlantMachinery 2023-07-31 SC209251 frs-core:ShareCapital 2024-07-31 SC209251 frs-core:RetainedEarningsAccumulatedLosses 2024-07-31 SC209251 frs-bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 SC209251 frs-bus:FilletedAccounts 2023-08-01 2024-07-31 SC209251 frs-bus:SmallEntities 2023-08-01 2024-07-31 SC209251 frs-bus:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 SC209251 frs-bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 SC209251 1 2023-08-01 2024-07-31 SC209251 frs-bus:Director1 2023-08-01 2024-07-31 SC209251 frs-bus:Director2 2023-08-01 2024-07-31 SC209251 frs-bus:Director3 2023-08-01 2024-07-31 SC209251 frs-bus:Director3 2023-07-31 SC209251 frs-bus:Director3 2024-07-31 SC209251 frs-core:CurrentFinancialInstruments 1 2024-07-31 SC209251 frs-countries:Scotland 2023-08-01 2024-07-31 SC209251 2022-07-31 SC209251 2023-07-31 SC209251 2022-08-01 2023-07-31 SC209251 frs-core:CurrentFinancialInstruments 2023-07-31 SC209251 frs-core:ShareCapital 2023-07-31 SC209251 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31 SC209251 frs-core:CurrentFinancialInstruments 1 2023-07-31
Registered number: SC209251
Prepress Projects Limited
Financial Statements
For The Year Ended 31 July 2024
Gillespie's
Chartered Accountants
33 Leslie Street
Blairgowrie
Perthshire
PH10 6AW
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: SC209251
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 47,871 53,595
47,871 53,595
CURRENT ASSETS
Work in Progress 5 - 20,000
Debtors 6 55,717 93,882
Cash at bank and in hand 275,664 337,777
331,381 451,659
Creditors: Amounts Falling Due Within One Year 7 (30,059 ) (71,182 )
NET CURRENT ASSETS (LIABILITIES) 301,322 380,477
TOTAL ASSETS LESS CURRENT LIABILITIES 349,193 434,072
PROVISIONS FOR LIABILITIES
Deferred Taxation (11,968 ) (12,110 )
NET ASSETS 337,225 421,962
CAPITAL AND RESERVES
Called up share capital 8 1,000 1,000
Profit and Loss Account 336,225 420,962
SHAREHOLDERS' FUNDS 337,225 421,962
Page 1
Page 2
For the year ending 31 July 2024 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Dr Lucy Harrier
Director
Dr Sarah Goodfellow
Director
9th September 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
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Notes to the Financial Statements
1. General Information
Prepress Projects Limited is a private company, limited by shares, incorporated in Scotland, registered number SC209251 . The registered office is Algo Business Centre, Glenearn Road, PERTH, Perthshire, PH2 0NJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Office Renovation 15% reducing balance
Motor Vehicles 25% reducing balance
Furniture & Fixtures 25% reducing balance
Computer Equipment 20% reducing balance
2.4. Stocks and Work in Progress
Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Corporation tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 17 19
17 19
4. Tangible Assets
Office Renovation Furniture & Fixtures Computer Equipment Total
£ £ £ £
Cost
As at 1 August 2023 46,546 41,428 85,923 173,897
Additions - - 8,138 8,138
Disposals - - (9,151 ) (9,151 )
As at 31 July 2024 46,546 41,428 84,910 172,884
Depreciation
As at 1 August 2023 31,625 37,181 51,496 120,302
Provided during the period 2,238 1,061 8,000 11,299
Disposals - - (6,588 ) (6,588 )
As at 31 July 2024 33,863 38,242 52,908 125,013
Net Book Value
As at 31 July 2024 12,683 3,186 32,002 47,871
As at 1 August 2023 14,921 4,247 34,427 53,595
5. Work in Progress
2024 2023
£ £
Work in progress - 20,000
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 47,466 86,162
Prepayments and accrued income 5,161 6,357
Other debtor 940 -
VAT 2,150 1,363
55,717 93,882
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 280 1,864
Corporation tax 11,438 49,064
Other taxes and social security 10,036 12,704
Other creditors 8,305 7,342
Directors' loan accounts - 208
30,059 71,182
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,000 1,000
9. Directors Advances, Credits and Guarantees
Included within Creditors was the following loan from a director:
As at 1 August 2023 Amounts advanced Amounts repaid Amounts written off As at 31 July 2024
£ £ £ £ £
Mrs Helen MacDonald 208 - 208 - -
The above loan is unsecured, interest free and repayable on demand.
10. Dividends
2024 2023
£ £
On equity shares:
Interim dividend paid 125,000 975,000
125,000 975,000
11. Ultimate Controlling Party
The company's ultimate controlling party is Prepress Projects Trustees Limited (an Employee Ownership Trust) by virtue of his ownership of 100% of the issued share capital in the company.
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