Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-31trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-02-01falseprint management55truefalse 06476619 2023-02-01 2024-01-31 06476619 2022-02-01 2023-01-31 06476619 2024-01-31 06476619 2023-01-31 06476619 c:Director1 2023-02-01 2024-01-31 06476619 d:Buildings d:ShortLeaseholdAssets 2023-02-01 2024-01-31 06476619 d:Buildings d:ShortLeaseholdAssets 2024-01-31 06476619 d:Buildings d:ShortLeaseholdAssets 2023-01-31 06476619 d:PlantMachinery 2023-02-01 2024-01-31 06476619 d:PlantMachinery 2024-01-31 06476619 d:PlantMachinery 2023-01-31 06476619 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 06476619 d:MotorVehicles 2023-02-01 2024-01-31 06476619 d:MotorVehicles 2024-01-31 06476619 d:MotorVehicles 2023-01-31 06476619 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 06476619 d:FurnitureFittings 2023-02-01 2024-01-31 06476619 d:FurnitureFittings 2024-01-31 06476619 d:FurnitureFittings 2023-01-31 06476619 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 06476619 d:OfficeEquipment 2023-02-01 2024-01-31 06476619 d:OfficeEquipment 2024-01-31 06476619 d:OfficeEquipment 2023-01-31 06476619 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 06476619 d:OtherPropertyPlantEquipment 2023-02-01 2024-01-31 06476619 d:OtherPropertyPlantEquipment 2024-01-31 06476619 d:OtherPropertyPlantEquipment 2023-01-31 06476619 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 06476619 d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 06476619 d:CurrentFinancialInstruments 2024-01-31 06476619 d:CurrentFinancialInstruments 2023-01-31 06476619 d:Non-currentFinancialInstruments 2024-01-31 06476619 d:Non-currentFinancialInstruments 2023-01-31 06476619 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 06476619 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 06476619 d:Non-currentFinancialInstruments d:AfterOneYear 2024-01-31 06476619 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 06476619 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-01-31 06476619 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-01-31 06476619 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-01-31 06476619 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-01-31 06476619 d:ShareCapital 2024-01-31 06476619 d:ShareCapital 2023-01-31 06476619 d:RetainedEarningsAccumulatedLosses 2024-01-31 06476619 d:RetainedEarningsAccumulatedLosses 2023-01-31 06476619 d:AcceleratedTaxDepreciationDeferredTax 2024-01-31 06476619 d:AcceleratedTaxDepreciationDeferredTax 2023-01-31 06476619 c:FRS102 2023-02-01 2024-01-31 06476619 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 06476619 c:FullAccounts 2023-02-01 2024-01-31 06476619 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 06476619 2 2023-02-01 2024-01-31 06476619 e:PoundSterling 2023-02-01 2024-01-31 iso4217:GBP xbrli:pure

Registered number: 06476619










IPC PRINT LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2024

 
IPC PRINT LIMITED
REGISTERED NUMBER: 06476619

STATEMENT OF FINANCIAL POSITION
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
174,837
33,030

  
174,837
33,030

Current assets
  

Debtors: amounts falling due within one year
 5 
191,952
257,244

Cash at bank and in hand
  
27,602
151,768

  
219,554
409,012

Creditors: amounts falling due within one year
 6 
(200,944)
(214,865)

Net current assets
  
 
 
18,610
 
 
194,147

Total assets less current liabilities
  
193,447
227,177

Creditors: amounts falling due after more than one year
 7 
(93,332)
(133,332)

Provisions for liabilities
  

Deferred tax
 9 
(5,506)
(6,456)

  
 
 
(5,506)
 
 
(6,456)

Net assets
  
94,609
87,389


Capital and reserves
  

Called up share capital 
  
4
4

Profit and loss account
  
94,605
87,385

  
94,609
87,389


Page 1

 
IPC PRINT LIMITED
REGISTERED NUMBER: 06476619
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JANUARY 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 16 October 2024.




................................................
I L Turness
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
IPC PRINT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.Accounting policies

 
1.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
1.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
1.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
1.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
1.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
1.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
IPC PRINT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.Accounting policies (continued)

 
1.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
1.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
1.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
IPC PRINT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.Accounting policies (continued)


1.9
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the following methods.

Depreciation is provided on the following basis:

S/Term Leasehold Property
-
10%
over the term of the lease
Plant & machinery
-
10%
straight line
Motor vehicles
-
25%
reducing balance
Fixtures & fittings
-
25%
reducing balance
Office equipment
-
33%
straight line
Other fixed assets
-
25%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
1.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
1.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
1.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
1.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 5

 
IPC PRINT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.Accounting policies (continued)

 
1.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


2.


General information

IPC Print Limited is a private company. limited by shares and incorporated in England.
Its registered number is 06476619
Its Registered Office is:
Invision House
Wilbury Way
Hitchin
Hertfordshire
SG4 0TY


3.


Employees

The average monthly number of employees, including directors, during the year was 5 (2023 - 5).

Page 6

 
IPC PRINT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

4.


Tangible fixed assets





S/Term Leasehold Property
Plant & machinery
Motor vehicles
Fixtures & fittings
Office equipment

£
£
£
£
£



Cost or valuation


At 1 February 2023
-
36,003
38,538
2,749
5,746


Additions
102,147
2,951
-
-
2,117



At 31 January 2024

102,147
38,954
38,538
2,749
7,863



Depreciation


At 1 February 2023
-
23,493
20,315
1,809
4,389


Charge for the year on owned assets
10,215
3,895
4,556
235
1,384



At 31 January 2024

10,215
27,388
24,871
2,044
5,773



Net book value



At 31 January 2024
91,932
11,566
13,667
705
2,090



At 31 January 2023
-
12,510
18,223
940
1,357
Page 7

 
IPC PRINT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

           4.Tangible fixed assets (continued)


Other fixed assets
Total

£
£



Cost or valuation


At 1 February 2023
-
83,036


Additions
73,169
180,384



At 31 January 2024

73,169
263,420



Depreciation


At 1 February 2023
-
50,006


Charge for the year on owned assets
18,292
38,577



At 31 January 2024

18,292
88,583



Net book value



At 31 January 2024
54,877
174,837



At 31 January 2023
-
33,030

Page 8

 
IPC PRINT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

5.


Debtors

2024
2023
£
£


Trade debtors
168,958
204,554

Amounts owed by related parties
13,028
50,432

Other debtors
5,627
-

Prepayments and accrued income
4,339
2,258

191,952
257,244



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
40,000
40,000

Trade creditors
133,838
93,048

Corporation tax
11,066
48,769

Other taxation and social security
2,340
21,079

Other creditors
10,650
9,069

Accruals and deferred income
3,050
2,900

200,944
214,865



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
93,332
133,332

93,332
133,332


Page 9

 
IPC PRINT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

8.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
40,000
40,000


40,000
40,000

Amounts falling due 1-2 years

Bank loans
40,000
40,000


40,000
40,000

Amounts falling due 2-5 years

Bank loans
53,333
93,333


53,333
93,333


133,333
173,333



9.


Deferred taxation




2024


£






At beginning of year
(6,456)


Charged to profit or loss
950



At end of year
(5,506)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(5,506)
(6,456)

(5,506)
(6,456)

 
Page 10