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REGISTERED NUMBER: 06137671 (England and Wales)














AZTEC LABEL LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH JUNE 2024






AZTEC LABEL LIMITED (REGISTERED NUMBER: 06137671)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


AZTEC LABEL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH JUNE 2024







DIRECTORS: C R Le Gresley
Mrs S E Le Gresley





SECRETARY: Mrs S E Le Gresley





REGISTERED OFFICE: Unit 1 Ricketts Close
Firs Industrial Estate
Kidderminster
Worcestershire
DY11 7QN





REGISTERED NUMBER: 06137671 (England and Wales)

AZTEC LABEL LIMITED (REGISTERED NUMBER: 06137671)

BALANCE SHEET
30TH JUNE 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 1,197,695 1,132,048

CURRENT ASSETS
Stocks 5 218,715 165,623
Debtors 6 1,238,098 1,036,468
Cash at bank 38,569 48,526
1,495,382 1,250,617
CREDITORS
Amounts falling due within one year 7 2,029,960 1,678,882
NET CURRENT LIABILITIES (534,578 ) (428,265 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

663,117

703,783

CREDITORS
Amounts falling due after more than one
year

8

(115,599

)

(204,180

)

PROVISIONS FOR LIABILITIES (188,355 ) (198,256 )

ACCRUALS AND DEFERRED INCOME (5,951 ) (7,001 )
NET ASSETS 353,212 294,346

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 353,112 294,246
SHAREHOLDERS' FUNDS 353,212 294,346

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 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.

AZTEC LABEL LIMITED (REGISTERED NUMBER: 06137671)

BALANCE SHEET - continued
30TH JUNE 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 12th September 2024 and were signed on its behalf by:




C R Le Gresley - Director



Mrs S E Le Gresley - Director


AZTEC LABEL LIMITED (REGISTERED NUMBER: 06137671)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2024

1. STATUTORY INFORMATION

Aztec Label 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.

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.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

The accounts have been prepared on a going concern basis. The directors confirm loans will be made available to the company to enable it to meet its liabilities as they fall due.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 15% on reducing balance

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.

Financial instruments
Basic financial liabilities, including trade and other debtors, bank loans and loans are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Financial assets and liabilities are only offset in the balance sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the company intends to either settle on a net basis, or to realise the asset and settle the liability simultaneously.

Debt instruments that have no stated interest rate are classified as payable or receivable within one year are initially measured at an un-discounted amount of the cash or other consideration expected to be paid, net of impairment.

Taxation
Current tax is recognised for the amount of corporation tax payable in respect of the taxable profit for the current or past reporting periods using the tax rates and laws that have been enacted or substantively enacted by the reporting date.


AZTEC LABEL LIMITED (REGISTERED NUMBER: 06137671)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences at the reporting date, except as otherwise indicated.

Deferred tax assets are only recognised to the extent that is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. If and when all conditions for retaining tax allowances for the cost of a fixed asset have been met, the deferred tax is reversed.

Deferred tax is calculated using the 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.

With the exception of changes arising on the initial recognition of a business combination, the tax expense (income) is presented either in profit or loss, other comprehensive income or equity depending on the transaction that resulted in the tax expense (income).

Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. Deferred tax assets and deferred tax liabilities are offset only if:
- The company has a legally enforceable right to set off current tax assets against current tax liabilities, and
- The deferred tax assets and deferred tax liabilities relate to corporation taxes levied by the same taxation authority on either the same taxable entity or different taxable entities which intend either to settle current tax liabilities and assets on a net basis, or to realise the assets and settle the liabilities simultaneously.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Grant income
The government grant received has been amortised on the basis of 15% reducing balance in line with the depreciation of the assets it relates to.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2023 - 26 ) .

AZTEC LABEL LIMITED (REGISTERED NUMBER: 06137671)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£ £ £ £
COST
At 1st July 2023 2,538,800 92,819 47,496 2,679,115
Additions 256,922 14,597 4,631 276,150
At 30th June 2024 2,795,722 107,416 52,127 2,955,265
DEPRECIATION
At 1st July 2023 1,477,752 44,940 24,375 1,547,067
Charge for year 196,961 9,378 4,164 210,503
At 30th June 2024 1,674,713 54,318 28,539 1,757,570
NET BOOK VALUE
At 30th June 2024 1,121,009 53,098 23,588 1,197,695
At 30th June 2023 1,061,048 47,879 23,121 1,132,048

The net book value of tangible fixed assets includes £ 246,177 (2023 - £ 248,350 ) in respect of assets held under hire purchase contracts.

5. STOCKS
2024 2023
£ £
Stocks 195,143 152,578
Work-in-progress 23,572 13,045
218,715 165,623

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 1,122,745 940,328
Amounts owed by group undertakings 110,100 77,197
Other debtors 3,100 17,280
Prepayments 2,153 1,663
1,238,098 1,036,468

Included in trade debtors are factored invoices amounting to £537,479 (2023 - £571,660).

AZTEC LABEL LIMITED (REGISTERED NUMBER: 06137671)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Hire purchase contracts 85,827 114,761
Trade creditors 1,306,220 931,872
Tax 91 -
Social security and other taxes 91,207 53,623
Other creditors 540,725 571,660
Accrued expenses 3,878 4,599
Deferred government grants 2,012 2,367
2,029,960 1,678,882

Included in Other Creditors is an amount of £537,479 (2023 - £571,660) which has been advanced against factored debts as per note 6.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£ £
Hire purchase contracts 110,150 197,769
Deferred government grants 5,449 6,411
115,599 204,180

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£ £
Hire purchase contracts 195,977 312,530
Invoice financing - 571,660
195,977 884,190

The invoice financing agreement is secured by way of a fixed and floating charge over the assets of the company.

Hire purchase liabilities are secured on the assets to which they relate.

10. RELATED PARTY DISCLOSURES

Dividends of £150,000 were paid from Aztec Label Limited to its parent company, Cortes Gold Limited (2023 - Nil).

Rent of £187,400 and management charges of £24,000 were paid from Aztec Label Limited to its parent company, Cortes Gold Limited (2023 rent - £119,200 and management charges £24,000).