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Registered Number: 09944859
England and Wales

 

 

 

FUTURE PRINT LEEDS LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 February 2023

End date: 31 January 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 250,107    124,878 
250,107    124,878 
Current assets      
Stocks 4 2,975    2,975 
Debtors 5 95,928    46,215 
Cash at bank and in hand 410,786    482,453 
509,689    531,643 
Creditors: amount falling due within one year 6 (255,875)   (267,360)
Net current assets 253,814    264,283 
 
Total assets less current liabilities 503,921    389,161 
Creditors: amount falling due after more than one year 7 (188,360)   (127,581)
Provisions for liabilities 8 (47,520)   (23,727)
Net assets 268,041    237,853 
 

Capital and reserves
     
Called up share capital 9 100    100 
Profit and loss account 267,941    237,753 
Shareholders' funds 268,041    237,853 
 


For the 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.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 14 October 2024 and were signed on its behalf by:


-------------------------------
Mr T Roberts
Director
1
General Information
Future Print Leeds Limited is a private company, limited by shares, registered in England and Wales, registration number 09944859, registration address Unit 5 Antler Complex, Bruntcliffe Way, Leeds, West Yorkshire, LS27 0JG.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Going concern basis
The directors believe that the company is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment 25% Straight Line
Fixtures and Fittings 20% Straight Line
Plant and Machinery 15% Straight Line
Motor Vehicles 25% Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of 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.
2.

Average number of employees


Average number of employees during the year was 8 (2023 : 7).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £
At 01 February 2023 175,790    114,199    24,438    14,582    329,009 
Additions 57,456    162,397      2,377    222,230 
Disposals (10,645)   (12,583)       (23,228)
At 31 January 2024 222,601    264,013    24,438    16,959    528,011 
Depreciation
At 01 February 2023 108,714    66,790    18,474    10,152    204,130 
Charge for year 25,262    66,003    2,026    2,646    95,937 
On disposals (9,581)   (12,582)       (22,163)
At 31 January 2024 124,395    120,211    20,500    12,798    277,904 
Net book values
Closing balance as at 31 January 2024 98,206    143,802    3,938    4,161    250,107 
Opening balance as at 01 February 2023 67,076    47,408    5,964    4,430    124,878 


4.

Stocks

2024
£
  2023
£
Stocks 2,975    2,975 
2,975    2,975 

5.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 53,107    46,215 
Other Debtors 42,821   
95,928    46,215 

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 135,024    66,842 
Bank Loans & Overdrafts 10,250    10,250 
Taxation and Social Security 36,948    91,774 
Obligations under HP/Financial Leases 37,139    22,571 
Other Creditors 36,514    75,923 
255,875    267,360 

7.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts 13,867    23,778 
Obligations under HP/Financial Leases 174,493    103,803 
188,360    127,581 
The short and long term hire purchase liabilities are secured against the assets of the company that they relate to.

8.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 47,520    23,727 
47,520    23,727 

9.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
60 Ordinary A shares of £1.00 each 60    60 
25 Ordinary B shares of £1.00 each 25    25 
5 Ordinary C shares of £1.00 each  
5 Ordinary D shares of £1.00 each  
5 Ordinary E shares of £1.00 each  
100    100 
Share Capital
All shares rank pari passu and have equal voting rights.

10.

Director’s loan

Directors Advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company.
Particulars   Balance b/f
£
  Advances
£
  Credits
£
  Balance c/f
£
Mr T Roberts (1,854) 186,476  (110,000) 74,622 
Mr R Dawson (25,420) 40,762  (47,143) (31,801)
11.

Related Parties

There are no transactions with related parties that need to be disclosed.
12.

Controlling Party

The company was under the control of Mr T Roberts throughout the current and previous year.
2