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REGISTERED NUMBER: 01402909 (England and Wales)















Unaudited Financial Statements for the Year Ended 31st March 2024

for

HECKFORD PRINTERS LIMITED

HECKFORD PRINTERS LIMITED (REGISTERED NUMBER: 01402909)






Contents of the Financial Statements
for the Year Ended 31st March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HECKFORD PRINTERS LIMITED

Company Information
for the Year Ended 31st March 2024







DIRECTORS: Mr S R Scurr
Mrs P A Scurr
Mr M Scurr





SECRETARY: Mr R E Holcroft





REGISTERED OFFICE: 6 St Marks Place East
Preston
Lancashire
PR1 8TN





REGISTERED NUMBER: 01402909 (England and Wales)





ACCOUNTANTS: Abrams Ashton - Chorley Limited
Chartered Certified Accountants
41 St Thomas's Road
Chorley
Lancashire
PR7 1JE

HECKFORD PRINTERS LIMITED (REGISTERED NUMBER: 01402909)

Balance Sheet
31st March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,405,841 1,492,060
Investment property 6 175,000 175,000
1,580,841 1,667,060

CURRENT ASSETS
Stocks 7 73,828 63,274
Debtors 8 367,418 592,665
Investments 9 377,508 368,470
Cash at bank and in hand 650,618 713,405
1,469,372 1,737,814
CREDITORS
Amounts falling due within one year 10 287,886 455,940
NET CURRENT ASSETS 1,181,486 1,281,874
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,762,327

2,948,934

PROVISIONS FOR LIABILITIES 18,614 23,223
NET ASSETS 2,743,713 2,925,711

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 2,733,713 2,915,711
SHAREHOLDERS' FUNDS 2,743,713 2,925,711

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 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.

HECKFORD PRINTERS LIMITED (REGISTERED NUMBER: 01402909)

Balance Sheet - continued
31st March 2024


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 20th June 2024 and were signed on its behalf by:





Mr S R Scurr - Director


HECKFORD PRINTERS LIMITED (REGISTERED NUMBER: 01402909)

Notes to the Financial Statements
for the Year Ended 31st March 2024

1. STATUTORY INFORMATION

Heckford Printers Limited is a private company, limited by shares , registered in England and Wales. 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents the value of goods and services, excluding value added tax, provided to customers during the year.

Sale of goods and services:

Revenue from the sale of goods and services is recognised when the following conditions are satisfied:

- the Company has transferred to the buyer the significant risks and rewards of ownership of the goods and associated services;
- the amount of revenue can be measured reliably;
- it is probable that the economic benefits associated with the transaction will flow to the entity; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - NIL
Long leasehold improvements - Over the period of the lease
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance

In a departure from FRS 102 Section 1A for small entities, no depreciation is provided in respect of freehold properties. This is a departure from the requirements of the Companies Act 2006 which requires all properties to be depreciated. The directors consider that to depreciate them would not give a true and fair view. Depreciation is only one of the many elements reflected in the annual valuation of properties and accordingly the amount of depreciation which might otherwise have been charged cannot be separately identified or quantified. The directors consider that this policy results in the financial statements giving a true and fair view.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

HECKFORD PRINTERS LIMITED (REGISTERED NUMBER: 01402909)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments' of FRS 102 to all its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic Financial assets

Basic financial assets, which include debtors, loans to common controlled companies and cash and bank balances, are initially measured at transaction price including transaction costs. They are subsequently carried at amortised cost using the effective interest method, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Other financial assets

All the company's financial assets fall to be classified as basic financial assets under Section 11 of FRS 102 and the company therefore holds no other financial assets.

Basic financial liabilities

Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities

All the companies financial liabilities fall to be classified as basic financial liabilities under Section 11 of FRS 102 and the company therefore has no other financial instruments.

Taxation
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 is 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.


HECKFORD PRINTERS LIMITED (REGISTERED NUMBER: 01402909)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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

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.

Listed investments
In accordance with the Financial Reporting Standards 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" the use of fair value for investments in shares which are publicly traded or where the fair value can be measured reliably is required. Movements in fair value are recognised in the Trading profit & Loss Account.

Cash and cash equivalents
Cash and cash equivalents includes cash in hand, deposits held with banks, and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 33 (2023 - 31 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st April 2023
and 31st March 2024 5,000
AMORTISATION
At 1st April 2023
and 31st March 2024 5,000
NET BOOK VALUE
At 31st March 2024 -
At 31st March 2023 -

HECKFORD PRINTERS LIMITED (REGISTERED NUMBER: 01402909)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

5. TANGIBLE FIXED ASSETS
Long
Freehold leasehold Plant and
property improvements machinery
£    £    £   
COST OR VALUATION
At 1st April 2023 900,000 44,651 839,249
Additions - 8,005 7,691
At 31st March 2024 900,000 52,656 846,940
DEPRECIATION
At 1st April 2023 - 4,212 309,237
Charge for year - 9,052 106,782
At 31st March 2024 - 13,264 416,019
NET BOOK VALUE
At 31st March 2024 900,000 39,392 430,921
At 31st March 2023 900,000 40,439 530,012

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST OR VALUATION
At 1st April 2023 101,837 46,009 1,931,746
Additions - 23,139 38,835
At 31st March 2024 101,837 69,148 1,970,581
DEPRECIATION
At 1st April 2023 91,563 34,674 439,686
Charge for year 2,057 7,163 125,054
At 31st March 2024 93,620 41,837 564,740
NET BOOK VALUE
At 31st March 2024 8,217 27,311 1,405,841
At 31st March 2023 10,274 11,335 1,492,060

Included in cost or valuation of land and buildings is freehold land of £ 160,000 (2023 - £ 160,000 ) which is not depreciated.

HECKFORD PRINTERS LIMITED (REGISTERED NUMBER: 01402909)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

5. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31st March 2024 is represented by:

Long
Freehold leasehold Plant and
property improvements machinery
£    £    £   
Valuation in 2016 50,000 - -
Valuation in 2018 (140,840 ) - -
Valuation in 2019 15,000 - -
Cost 975,840 52,656 846,940
900,000 52,656 846,940

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
Valuation in 2016 - - 50,000
Valuation in 2018 - - (140,840 )
Valuation in 2019 - - 15,000
Cost 101,837 69,148 2,046,421
101,837 69,148 1,970,581

Under the Financial Reporting Standard 102 Section 1A, a cost model policy has been adopted and so the properties are valued at deemed cost and are subject to regular impairment reviews. Deferred tax is provided on these movements. Gains and losses arising from changes in the fair values are included in the Statement of Income in the period in which they arise.

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st April 2023
and 31st March 2024 175,000
NET BOOK VALUE
At 31st March 2024 175,000
At 31st March 2023 175,000

7. STOCKS
31.3.24 31.3.23
£    £   
Raw materials and consumables 46,073 37,204
Work-in-progress 27,755 26,070
73,828 63,274

HECKFORD PRINTERS LIMITED (REGISTERED NUMBER: 01402909)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 356,835 540,254
Directors' current accounts 1,719 2,051
Tax - 46,875
Prepayments and accrued income 8,864 3,485
367,418 592,665

9. CURRENT ASSET INVESTMENTS
31.3.24 31.3.23
£    £   
Listed investments 377,508 368,470

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 137,245 242,054
Social security and other taxes 74,278 112,772
Directors' current accounts 1,509 2,413
Accruals and deferred income 74,854 98,701
287,886 455,940

11. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.24 31.3.23
£    £   
Within one year 43,469 55,881
Between one and five years 145,820 153,290
In more than five years 72,000 108,000
261,289 317,171

12. RELATED PARTY DISCLOSURES

At the balance sheet date, the company was owed £210 from its directors (2023: £362 owed to directors). There is no interest charged on this loan and it is repayable on demand.

13. CONTROLLING PARTY

Throughout the current and previous year, Mr & Mrs S Scurr, have controlled the company by virtue of their majority shareholding in the company.