Company registration number 07503687 (England and Wales)
Printout Colour Printers Limited
UNAUDITED FINANCIAL STATEMENTS
for the year ended 31 January 2024
PAGES FOR FILING WITH REGISTRAR
Printout Colour Printers Limited
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 5
Printout Colour Printers Limited
Statement Of Financial Position
as at 31 January 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
153,492
154,374
Current assets
Stocks
1,425
1,375
Debtors
46,152
24,811
Cash at bank and in hand
15,523
23,880
63,100
50,066
Creditors: amounts falling due within one year
(67,196)
(39,905)
Net current (liabilities)/assets
(4,096)
10,161
Total assets less current liabilities
149,396
164,535
Creditors: amounts falling due after more than one year
(69,729)
(84,997)
Provisions for liabilities
4
(1,249)
(1,470)
Net assets
78,418
78,068
Capital and reserves
Called up share capital
5
100
100
Profit and loss reserves
78,318
77,968
Total equity
78,418
78,068
Printout Colour Printers Limited
Statement Of Financial Position (continued)
as at 31 January 2024
- 2 -
In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
The director of the company has elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his 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 and signed by the director and authorised for issue on 23 August 2024
R Pearson
Director
Company Registration No. 07503687
Printout Colour Printers Limited
Notes to the financial statements
for the year ended 31 January 2024
- 3 -
1
Accounting policies
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. The principal accounting policies adopted are set out below.
Turnover
Turnover represents the fair value of the consideration received for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Turnover is recognised upon provision of goods.
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost less depreciation.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Freehold buildings
No depreciation
Fixtures, fittings & equipment
15% reducing balance
Depreciation has not been provided on the freehold building. The director believes the current market value to be in line with original cost and as such believes that depreciation should not be provided in order for the financial statements to show a true and fair view.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement 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.
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.
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Printout Colour Printers Limited
Notes to the financial statements (continued)
for the year ended 31 January 2024
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
3
Tangible fixed assets
Freehold buildings
Fixtures, fittings & equipment
Total
£
£
£
Cost
At 1 February 2023 and 31 January 2024
148,495
10,256
158,751
Depreciation and impairment
At 1 February 2023
4,377
4,377
Depreciation charged in the year
882
882
At 31 January 2024
5,259
5,259
Carrying amount
At 31 January 2024
148,495
4,997
153,492
At 31 January 2023
148,495
5,879
154,374
4
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
1,249
1,470
Printout Colour Printers Limited
Notes to the financial statements (continued)
for the year ended 31 January 2024
- 5 -
5
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
A Ordinary shares of £1 each
100
100
100
100
6
Company information
Printout Colour Printers Limited is a private company limited by shares incorporated in England and Wales. The registered office is 105 Northgate, North Bridge, Halifax, HX1 1XF.