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Registered number: 05334922
Print North East Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Accountancy Solutions (Northern) Ltd
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05334922
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 350,227 379,534
350,227 379,534
CURRENT ASSETS
Stocks 5 7,600 7,000
Debtors 6 123,593 158,360
Cash at bank and in hand 110,140 196,239
241,333 361,599
Creditors: Amounts Falling Due Within One Year 7 (226,231 ) (262,687 )
NET CURRENT ASSETS (LIABILITIES) 15,102 98,912
TOTAL ASSETS LESS CURRENT LIABILITIES 365,329 478,446
Creditors: Amounts Falling Due After More Than One Year 8 (91,451 ) (164,501 )
NET ASSETS 273,878 313,945
CAPITAL AND RESERVES
Called up share capital 10 110 110
Profit and Loss Account 273,768 313,835
SHAREHOLDERS' FUNDS 273,878 313,945
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For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Steven Gilbert
Director
30/09/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
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Notes to the Financial Statements
1. General Information
Print North East Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05334922 . The registered office is 6-9 Foundry Lane Industrial Estate, Foundry Lane, Newcastle Upon Tyne, NE6 1LH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
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 5% SL
Motor Vehicles 25% RB
Fixtures & Fittings 20% SL
Computer Equipment 20% SL
2.4. Leasing and Hire Purchase Contracts
Assets obtained under 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 and work in progress 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. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.6. 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. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 15 (2023: 13)
15 13
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2023 552,238 63,617 666 18,565 635,086
Additions 11,956 2,875 - - 14,831
Disposals - (7,000 ) - - (7,000 )
As at 31 March 2024 564,194 59,492 666 18,565 642,917
Depreciation
As at 1 April 2023 215,880 27,591 666 11,415 255,552
Provided during the period 28,210 8,740 - 3,251 40,201
Disposals - (3,063 ) - - (3,063 )
As at 31 March 2024 244,090 33,268 666 14,666 292,690
Net Book Value
As at 31 March 2024 320,104 26,224 - 3,899 350,227
As at 1 April 2023 336,358 36,026 - 7,150 379,534
5. Stocks
2024 2023
£ £
Stock 7,600 7,000
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 111,802 139,491
Prepayments and accrued income 6,655 5,304
VAT 5,136 11,165
123,593 155,960
...CONTINUED
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Due after more than one year
Amounts owed by other participating interests - 2,400
- 2,400
123,593 158,360
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 15,439 23,776
Trade creditors 85,237 92,666
Bank loans and overdrafts 57,500 57,500
Corporation tax 19,856 25,459
Other taxes and social security 9,819 6,903
Directors loan account - Mr S Gilbert 35,212 50,618
Accruals and deferred income 3,168 5,765
226,231 262,687
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 29,159 44,709
Bank loans 62,292 119,792
91,451 164,501
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 15,439 23,776
Later than one year and not later than five years 29,159 44,709
44,598 68,485
44,598 68,485
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 110 110
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