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Registered number: 06806767
Duraseal Print Finishers Limited
Unaudited Financial Statements
For The Year Ended 29 February 2024
Contents
Page
Company Information 1
Balance Sheet 2—3
Notes to the Financial Statements 4—7
Page 1
Company Information
Directors Mr Matthew Bayliss
Mr Philip Swaffield
Mr Timothy Arnaudy
Company Number 06806767
Registered Office First Floor, New Barnes Mill
Cottonmill Lane
St Albans
AL1 2HA
Accountants Town & Forest
Chartered Accountants & Statutory Auditors
First Floor, New Barnes Mill
Cottonmill Lane
St Albans
AL1 2HA
Page 1
Page 2
Balance Sheet
Registered number: 06806767
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 177,430 209,065
177,430 209,065
CURRENT ASSETS
Stocks 5 2,350 8,700
Debtors 6 144,504 182,474
Cash at bank and in hand 20,287 31,129
167,141 222,303
Creditors: Amounts Falling Due Within One Year 7 (81,846 ) (116,674 )
NET CURRENT ASSETS (LIABILITIES) 85,295 105,629
TOTAL ASSETS LESS CURRENT LIABILITIES 262,725 314,694
Creditors: Amounts Falling Due After More Than One Year 8 (15,486 ) (25,625 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (33,896 ) (30,026 )
NET ASSETS 213,343 259,043
CAPITAL AND RESERVES
Called up share capital 60 60
Capital redemption reserve 40 40
Profit and Loss Account 213,243 258,943
SHAREHOLDERS' FUNDS 213,343 259,043
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For the year ending 29 February 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
Mr Matthew Bayliss
Director
Mr Philip Swaffield
Director
Mr Timothy Arnaudy
Director
2 October 2024
The notes on pages 4 to 7 form part of these financial statements.
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Page 4
Notes to the Financial Statements
1. General Information
Duraseal Print Finishers Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06806767 . The registered office is First Floor, New Barnes Mill, Cottonmill Lane, St Albans, AL1 2HA.

2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

The presentation currency of the financial statements is the Pound Sterling (£).

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
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 measured at cost less accumulated depreciation and any accumulated impairment losses. 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:
Plant & Machinery 15% on reducing balance
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 15% on reducing balance
Computer Equipment 25% on reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
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2.6. Taxation
Taxation expense represents the sum of the tax currently payable and deferred tax.
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 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 difference that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in the tax assessments in periods different from those in which they are recognised in the 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 probably that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.8. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
2.9. Provisions and accruals
Provisions are recognised when there is a present legal or constructive obligation as a result of past events and the amount can be reliably estimated. Provisions are not recognised for future operating losses.
2.10. Trade debtors
Trade debtors are carried at original net invoice amount less an estimate for doubtful debtors. Bad debts are written off when identified. Specific provisions are made against debts whose recovery is considered doubtful.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2023: 7)
7 7
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 March 2023 676,038 8,300 5,394 8,370 698,102
As at 29 February 2024 676,038 8,300 5,394 8,370 698,102
Depreciation
As at 1 March 2023 470,512 6,603 4,610 7,312 489,037
Provided during the period 30,829 424 118 264 31,635
As at 29 February 2024 501,341 7,027 4,728 7,576 520,672
...CONTINUED
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Net Book Value
As at 29 February 2024 174,697 1,273 666 794 177,430
As at 1 March 2023 205,526 1,697 784 1,058 209,065
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2024 2023
£ £
Plant & Machinery - 139,606
5. Stocks
2024 2023
£ £
Stock 2,350 8,700
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 140,601 178,917
Prepayments and accrued income 3,360 2,753
Other debtors 19 -
Corporation tax recoverable assets 524 524
Directors' loan accounts - 280
144,504 182,474
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 9,973
Trade creditors 21,016 40,971
Bank loans and overdrafts 10,177 9,874
Corporation tax 35,416 41,293
Other taxes and social security 2,576 1,170
VAT 7,632 10,993
Accruals and deferred income 4,814 2,400
Directors' loan accounts 215 -
81,846 116,674
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 15,486 25,625
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9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year - 9,973
10. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 March 2023 30,026 30,026
Additions 3,870 3,870
Balance at 29 February 2024 33,896 33,896
11. Capital Commitments
National Westminster Bank plc hold fixed and floating charges over Duraseal Print Finishers Limited. The floating charges cover all of the property or undertaking of the company. The charges also contain a negative pledge.
12. Directors Advances, Credits and Guarantees
Included within Creditors are the following loans from directors:
As at 1 March 2023 Amounts advanced Amounts repaid Amounts written off As at 29 February 2024
£ £ £ £ £
Mr Matthew Bayliss 280 22,237 (22,732 ) - (215 )
The above loan is unsecured, interest free and repayable on demand.
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