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REGISTERED NUMBER: 00519606 (England and Wales)















THE LAVENHAM PRESS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MARCH 2024






THE LAVENHAM PRESS LIMITED (REGISTERED NUMBER: 00519606)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


THE LAVENHAM PRESS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr T. A. J. Dalton
Mrs E. H. Whitehair
Mr B. R. Byford
Mr A. P. Quantrill
Mr S. Ali





REGISTERED OFFICE: Arbons House
Water Street
Lavenham
Suffolk
CO10 9RN





REGISTERED NUMBER: 00519606 (England and Wales)

THE LAVENHAM PRESS LIMITED (REGISTERED NUMBER: 00519606)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £   
FIXED ASSETS
Property, plant and equipment 4 736,715 785,757

CURRENT ASSETS
Stocks 153,302 157,420
Debtors 5 648,635 765,348
Cash at bank and in hand 198,647 126,732
1,000,584 1,049,500
CREDITORS
Amounts falling due within one year 6 (889,605 ) (975,033 )
NET CURRENT ASSETS 110,979 74,467
TOTAL ASSETS LESS CURRENT LIABILITIES 847,694 860,224

CREDITORS
Amounts falling due after more than one
year

7

(17,556

)

(46,666

)

PROVISIONS FOR LIABILITIES (169,036 ) (134,995 )
NET ASSETS 661,102 678,563

CAPITAL AND RESERVES
Called up share capital 120,000 120,000
Retained earnings 541,102 558,563
SHAREHOLDERS' FUNDS 661,102 678,563

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

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

THE LAVENHAM PRESS LIMITED (REGISTERED NUMBER: 00519606)

BALANCE SHEET - continued
31 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 15 October 2024 and were signed on its behalf by:





Mr T. A. J. Dalton - Director


THE LAVENHAM PRESS LIMITED (REGISTERED NUMBER: 00519606)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

The Lavenham Press 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.

The presentation currency of the financial statements is the Pound Sterling (£), rounded to the nearest Pound.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover shown in the income statement represents the total amount receivable by the company for goods supplied and services provided, excluding VAT and trade discounts.

Depreciation
Depreciation is provided at the following annual rates in order to write off each asset less its estimated residual value, over its estimated useful life as follows:

Improvements to property - 10% straight line
Plant and machinery - 10 - 33% 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.

Work in progress
Work in progress is valued on the basis of direct costs. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

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.


THE LAVENHAM PRESS LIMITED (REGISTERED NUMBER: 00519606)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued
Deferred taxation
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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Hire purchase agreements
Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the income statement using the effective interest rate.

Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Pension costs
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.

Subvention
Where tax losses are surrendered between group companies the company surrendering the loss receives compensation from the recipient company in the form of subvention payments. The value of the subvention payment is the amount of tax saved by the recipient company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 47 (2023 - 45 ) .

THE LAVENHAM PRESS LIMITED (REGISTERED NUMBER: 00519606)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. PROPERTY, PLANT AND EQUIPMENT
Improvements
to Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 April 2023 57,332 3,033,209 116,940 3,207,481
Additions 5,000 6,010 - 11,010
At 31 March 2024 62,332 3,039,219 116,940 3,218,491
DEPRECIATION
At 1 April 2023 52,674 2,303,986 65,064 2,421,724
Charge for year 1,175 47,348 11,529 60,052
At 31 March 2024 53,849 2,351,334 76,593 2,481,776
NET BOOK VALUE
At 31 March 2024 8,483 687,885 40,347 736,715
At 31 March 2023 4,658 729,223 51,876 785,757


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 522,515 641,359
Other debtors 27,741 38,539
Prepayments and accrued income 98,379 85,450
648,635 765,348

Included within trade debtors is an amount of £50,162 that has been factored under a confidential invoice discounting facility. The company has retained the risk and reward associated with the ownership of these debts.

THE LAVENHAM PRESS LIMITED (REGISTERED NUMBER: 00519606)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans 10,000 10,000
Hire purchase contracts 21,188 20,000
Trade creditors 659,818 713,557
Amounts due to group undertakings 93,792 123,285
Corporation tax 19,265 7,283
Other taxes and social security 26,635 24,675
Directors' current accounts 798 383
Accruals and deferred income 58,109 75,850
889,605 975,033

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 2-5 years 17,556 26,666
Hire purchase contracts - 20,000
17,556 46,666

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 27,556 36,666
Hire purchase contracts 21,188 40,000
48,744 76,666

Bank borrowings are secured by fixed charges over plant owned by the company.

Hire purchase assets are secured on the assets concerned.