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REGISTERED NUMBER: SC191652 (Scotland)















Financial Statements for the Year Ended 31 December 2023

for

Presserv Limited

Presserv Limited (Registered number: SC191652)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Presserv Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: L N Hermansson





SECRETARY: LC Secretaries Ltd





REGISTERED OFFICE: Johnstone House
52-54 Rose Street
Aberdeen
AB10 1HA





REGISTERED NUMBER: SC191652 (Scotland)





ACCOUNTANTS: J M Taylor
5 Rubislaw Terrace
ABERDEEN
AB10 1XE

Presserv Limited (Registered number: SC191652)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 16,049 22,907

CURRENT ASSETS
Stocks 110,760 41,455
Debtors 5 178,985 488,289
Cash at bank 21,669 11,535
311,414 541,279
CREDITORS
Amounts falling due within one year 6 640,195 716,804
NET CURRENT LIABILITIES (328,781 ) (175,525 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(312,732

)

(152,618

)

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (312,832 ) (152,718 )
(312,732 ) (152,618 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Presserv Limited (Registered number: SC191652)

Balance Sheet - continued
31 December 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 September 2024 and were signed on its behalf by:





L N Hermansson - Director


Presserv Limited (Registered number: SC191652)

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

1. STATUTORY INFORMATION

Presserv Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Hire purchase and leasing commitments
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

Presserv Limited (Registered number: SC191652)

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 43,971
Disposals (1,033 )
At 31 December 2023 42,938
DEPRECIATION
At 1 January 2023 21,064
Charge for year 6,858
Eliminated on disposal (1,033 )
At 31 December 2023 26,889
NET BOOK VALUE
At 31 December 2023 16,049
At 31 December 2022 22,907

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 155,141 462,591
Amounts owed by group undertakings 1,122 -
Other debtors 22,722 25,698
178,985 488,289

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 96,253 292,621
Amounts owed to group undertakings 477,704 367,500
Taxation and social security 54,554 45,406
Other creditors 11,684 11,277
640,195 716,804

7. RELATED PARTY DISCLOSURES

Amounts owed to the parent company, Presserv AS, totalled £477,704 at 31 December 2023 in relation to loan balances and purchase invoices outstanding. £1,122 was receivable from Presserv AS at 31 December 2023 in relation to sales invoices outstanding.

Presserv Limited (Registered number: SC191652)

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

8. ULTIMATE CONTROLLING PARTY

During the current and previous period the ultimate controlling party was Presserv AS, a company incorporated in Norway, by virtue of its 100% holding in the ordinary share capital of the company.. The registered address of Presserv AS is Auglendsmyrå 3, 4016 Stavanger, Norway.