Company registration number 09418290 (England and Wales)
Print Stories Ltd
Unaudited Financial Statements
For The Year Ended 28 February 2024
Pages For Filing With Registrar
Pinnick Lewis LLP
Chartered Certified Accountants
Handel House
95 High Street
Edgware
HA8 7DB
Print Stories Ltd
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
Print Stories Ltd
BALANCE SHEET
As At 28 February 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
2,566
2,709
Current assets
Debtors
4
239,359
185,448
Cash at bank and in hand
43,874
135,524
283,233
320,972
Creditors: amounts falling due within one year
5
(158,626)
(175,281)
Net current assets
124,607
145,691
Net assets
127,173
148,400
Capital and reserves
Called up share capital
4
4
Profit and loss reserves
127,169
148,396
Total equity
127,173
148,400

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 19 November 2024 and are signed on its behalf by:
Mr M Lafferty
Director
Company registration number 09418290 (England and Wales)
Print Stories Ltd
NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 28 February 2024
- 2 -
1
Accounting policies
Company information

Print Stories Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Handel House, 95 High Street, Edgware, HA8 7DB.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
15% Straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Financial instruments
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Print Stories Ltd
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For The Year Ended 28 February 2024
1
Accounting policies
(Continued)
- 3 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.5
Taxation
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.6
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.7
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
3
3
Print Stories Ltd
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For The Year Ended 28 February 2024
- 4 -
3
Tangible fixed assets
Plant and equipment
£
Cost
At 1 March 2023
14,426
Additions
958
At 28 February 2024
15,384
Depreciation and impairment
At 1 March 2023
11,717
Depreciation charged in the year
1,101
At 28 February 2024
12,818
Carrying amount
At 28 February 2024
2,566
At 28 February 2023
2,709
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
167,389
171,395
Other debtors
71,970
14,053
239,359
185,448
5
Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
53,349
53,736
Other taxation and social security
2,221
7,892
Other creditors
7,218
12,903
Accruals and deferred income
95,838
100,750
158,626
175,281
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