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REGISTERED NUMBER: SC298480 (Scotland)













Unaudited Financial Statements

for the Year Ended 31 January 2024

for

L & S LITHO PRINTERS (SCOTLAND) LTD

L & S LITHO PRINTERS (SCOTLAND) LTD (REGISTERED NUMBER: SC298480)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


L & S LITHO PRINTERS (SCOTLAND) LTD

Company Information
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: B W Livingstone
Mrs Y McKinlay
Ms S Mackay





SECRETARY: B W Livingstone





REGISTERED OFFICE: 6th Floor, Gordon Chambers
90 Mitchell Street
Glasgow
G1 3NQ





REGISTERED NUMBER: SC298480 (Scotland)





ACCOUNTANTS: BK Plus Ltd
6th Floor
Gordon Chambers
90 Mitchell Street
Glasgow
Lanarkshire
G1 3NQ

L & S LITHO PRINTERS (SCOTLAND) LTD (REGISTERED NUMBER: SC298480)

Balance Sheet
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 207,180 243,764
207,180 243,764

CURRENT ASSETS
Stocks 15,285 17,015
Debtors 6 345,762 556,373
Cash at bank and in hand 3,410 45,416
364,457 618,804
CREDITORS
Amounts falling due within one year 7 479,000 756,889
NET CURRENT LIABILITIES (114,543 ) (138,085 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

92,637

105,679

CREDITORS
Amounts falling due after more than one
year

8

(10,148

)

(18,148

)

PROVISIONS FOR LIABILITIES (45,325 ) (40,319 )
NET ASSETS 37,164 47,212

L & S LITHO PRINTERS (SCOTLAND) LTD (REGISTERED NUMBER: SC298480)

Balance Sheet - continued
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Capital redemption reserve 2 2
Retained earnings 37,062 47,110
SHAREHOLDERS' FUNDS 37,164 47,212

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

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

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 29 October 2024 and were signed on its behalf by:





B W Livingstone - Director


L & S LITHO PRINTERS (SCOTLAND) LTD (REGISTERED NUMBER: SC298480)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

L & S Litho Printers (Scotland) Ltd is a private company, limited by shares , registered in Scotland. 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of five years.

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.
Plant and machinery - 15% on a reducing balance basis
Fixtures and fittings - 20% on a reducing balance basis
Motor vehicles - 25% on a reducing balance basis

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.

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.


L & S LITHO PRINTERS (SCOTLAND) LTD (REGISTERED NUMBER: SC298480)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JANUARY 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 13 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2023
and 31 January 2024 750,000
AMORTISATION
At 1 February 2023
and 31 January 2024 750,000
NET BOOK VALUE
At 31 January 2024 -
At 31 January 2023 -

L & S LITHO PRINTERS (SCOTLAND) LTD (REGISTERED NUMBER: SC298480)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JANUARY 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 February 2023
and 31 January 2024 1,170,983 9,000 9,400 1,189,383
DEPRECIATION
At 1 February 2023 927,508 8,790 9,321 945,619
Charge for year 36,522 42 20 36,584
At 31 January 2024 964,030 8,832 9,341 982,203
NET BOOK VALUE
At 31 January 2024 206,953 168 59 207,180
At 31 January 2023 243,475 210 79 243,764

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 325,857 342,381
Other debtors 19,905 213,992
345,762 556,373

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 155,889 204,263
Trade creditors 206,741 383,912
Taxation and social security 93,718 46,280
Other creditors 22,652 122,434
479,000 756,889

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 10,148 18,148