Silverfin false false 31/12/2023 01/01/2023 31/12/2023 Mr A A High 20/07/2023 Mrs D F Mellett 17/11/2010 Mr S G Serls 17/11/2010 25 September 2024 The principal activity of the Company during the financial year was that of the manufacturing of printed labels. 00815002 2023-12-31 00815002 bus:Director1 2023-12-31 00815002 bus:Director2 2023-12-31 00815002 bus:Director3 2023-12-31 00815002 2022-12-31 00815002 core:CurrentFinancialInstruments 2023-12-31 00815002 core:CurrentFinancialInstruments 2022-12-31 00815002 core:Non-currentFinancialInstruments 2023-12-31 00815002 core:Non-currentFinancialInstruments 2022-12-31 00815002 core:ShareCapital 2023-12-31 00815002 core:ShareCapital 2022-12-31 00815002 core:CapitalRedemptionReserve 2023-12-31 00815002 core:CapitalRedemptionReserve 2022-12-31 00815002 core:RetainedEarningsAccumulatedLosses 2023-12-31 00815002 core:RetainedEarningsAccumulatedLosses 2022-12-31 00815002 core:PlantMachinery 2022-12-31 00815002 core:Vehicles 2022-12-31 00815002 core:FurnitureFittings 2022-12-31 00815002 core:OfficeEquipment 2022-12-31 00815002 core:PlantMachinery 2023-12-31 00815002 core:Vehicles 2023-12-31 00815002 core:FurnitureFittings 2023-12-31 00815002 core:OfficeEquipment 2023-12-31 00815002 bus:OrdinaryShareClass1 2023-12-31 00815002 bus:OrdinaryShareClass2 2023-12-31 00815002 bus:OrdinaryShareClass3 2023-12-31 00815002 2023-01-01 2023-12-31 00815002 bus:FilletedAccounts 2023-01-01 2023-12-31 00815002 bus:SmallEntities 2023-01-01 2023-12-31 00815002 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 00815002 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 00815002 bus:Director1 2023-01-01 2023-12-31 00815002 bus:Director2 2023-01-01 2023-12-31 00815002 bus:Director3 2023-01-01 2023-12-31 00815002 core:PlantMachinery core:TopRangeValue 2023-01-01 2023-12-31 00815002 core:Vehicles core:TopRangeValue 2023-01-01 2023-12-31 00815002 core:FurnitureFittings core:TopRangeValue 2023-01-01 2023-12-31 00815002 core:OfficeEquipment core:TopRangeValue 2023-01-01 2023-12-31 00815002 2022-01-01 2022-12-31 00815002 core:PlantMachinery 2023-01-01 2023-12-31 00815002 core:Vehicles 2023-01-01 2023-12-31 00815002 core:FurnitureFittings 2023-01-01 2023-12-31 00815002 core:OfficeEquipment 2023-01-01 2023-12-31 00815002 core:Non-currentFinancialInstruments 2023-01-01 2023-12-31 00815002 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 00815002 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 00815002 bus:OrdinaryShareClass2 2023-01-01 2023-12-31 00815002 bus:OrdinaryShareClass2 2022-01-01 2022-12-31 00815002 bus:OrdinaryShareClass3 2023-01-01 2023-12-31 00815002 bus:OrdinaryShareClass3 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 00815002 (England and Wales)

LABEL-FORM LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

LABEL-FORM LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

LABEL-FORM LIMITED

BALANCE SHEET

As at 31 December 2023
LABEL-FORM LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 691,560 728,735
691,560 728,735
Current assets
Stocks 134,691 170,264
Debtors 4 178,227 345,341
Cash at bank and in hand 156,781 37,150
469,699 552,755
Creditors: amounts falling due within one year 5 ( 177,417) ( 207,106)
Net current assets 292,282 345,649
Total assets less current liabilities 983,842 1,074,384
Creditors: amounts falling due after more than one year 6 ( 197,990) ( 258,052)
Provision for liabilities ( 127,149) ( 147,505)
Net assets 658,703 668,827
Capital and reserves
Called-up share capital 7 85,000 85,000
Capital redemption reserve 115,000 115,000
Profit and loss account 458,703 468,827
Total shareholders' funds 658,703 668,827

For the financial year ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Label-Form Limited (registered number: 00815002) were approved and authorised for issue by the Board of Directors on 25 September 2024. They were signed on its behalf by:

Mrs D F Mellett
Director
LABEL-FORM LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
LABEL-FORM LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Label-Form Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Marquis House, Gulworthy, Tavistock, PL19 8JE, United Kingdom. The principal place of business is Reform Road, Maidenhead, Berkshire, SL6 8BT.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Plant and machinery 10 years straight line
Vehicles 4 years straight line
Fixtures and fittings 10 years straight line
Office equipment 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 20 20

3. Tangible assets

Plant and machinery Vehicles Fixtures and fittings Office equipment Total
£ £ £ £ £
Cost
At 01 January 2023 2,167,618 16,000 15,179 57,641 2,256,438
Additions 0 82,290 2,796 834 85,920
Disposals ( 15,115) ( 16,000) 0 ( 12,235) ( 43,350)
At 31 December 2023 2,152,503 82,290 17,975 46,240 2,299,008
Accumulated depreciation
At 01 January 2023 1,464,525 1,000 11,307 50,871 1,527,703
Charge for the financial year 93,431 13,694 838 3,264 111,227
Disposals ( 15,078) ( 4,200) 0 ( 12,204) ( 31,482)
At 31 December 2023 1,542,878 10,494 12,145 41,931 1,607,448
Net book value
At 31 December 2023 609,625 71,796 5,830 4,309 691,560
At 31 December 2022 703,093 15,000 3,872 6,770 728,735

4. Debtors

2023 2022
£ £
Trade debtors 158,756 284,220
Prepayments 19,471 18,718
VAT recoverable 0 30,108
Other debtors 0 12,295
178,227 345,341

5. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 46,863 98,824
Other taxation and social security 45,046 22,711
Obligations under finance leases and hire purchase contracts 70,680 53,198
Other creditors 14,828 32,373
177,417 207,106

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Obligations under finance leases and hire purchase contracts (secured) 197,990 258,052

The finance liabilities of £268,670 (2022 - £311,250) were secured over the assets to which they relate.

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
55,000 Ordinary A shares of £ 1.00 each 55,000 55,000
15,000 Ordinary B shares of £ 1.00 each 15,000 15,000
15,000 Ordinary D shares of £ 1.00 each 15,000 15,000
85,000 85,000

8. Financial commitments

Commitments

Capital commitments are as follows:

2023 2022
£ £
Contracted for but not provided for:
Finance leases entered into 20,000 20,299

The total amount of financial commitments not included in the balance sheet is £20,000 (2022- £20,299). These are operating lease commitments.