Company Registration No. 06850164 (England and Wales)
Printsetters.com Ltd
Unaudited accounts
for the year ended 31 March 2024
Printsetters.com Ltd
Unaudited accounts
Contents
Printsetters.com Ltd
Company Information
for the year ended 31 March 2024
Company Number
06850164 (England and Wales)
Registered Office
Venta House
9a Port Road, Maesglas Retail Park
Newport
NP20 2NS
United Kingdom
Accountants
Evans Entwistle
Office 12a
Equinox South, Great Park Road
Bradley Stoke
Bristol
BS32 4QL
Chartered Management Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of
Printsetters.com Ltd
for the year ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Printsetters.com Ltd for the year ended 31 March 2024 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.
As a CIMA Registered Member in Practice and Practising Certificate holder, I am subject to its ethical and other professional requirements which are detailed at https://www.cimaglobal.com/Members/Your-Membership-Information/Members-handbook/Licensing-and-monitoring/Members-in-practice/
Our work has been undertaken in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com.
Evans Entwistle
Member in Practice
Office 12a
Equinox South, Great Park Road
Bradley Stoke
Bristol
BS32 4QL
25 November 2024
Printsetters.com Ltd
Statement of financial position
as at 31 March 2024
Tangible assets
37,515
45,837
Cash at bank and in hand
27,185
10,541
Creditors: amounts falling due within one year
(40,868)
(42,736)
Net current assets
32,772
36,570
Total assets less current liabilities
70,287
82,407
Creditors: amounts falling due after more than one year
(23,654)
(25,238)
Provisions for liabilities
Deferred tax
(2,975)
(4,291)
Other provisions
(5,520)
(7,000)
Called up share capital
1
1
Profit and loss account
38,137
45,877
Shareholders' funds
38,138
45,878
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 25 November 2024 and were signed on its behalf by
M J Toms
Director
Company Registration No. 06850164
Printsetters.com Ltd
Notes to the Accounts
for the year ended 31 March 2024
Printsetters.com Ltd is a private company, limited by shares, registered in England and Wales, registration number 06850164. The registered office is Venta House , 9a Port Road, Maesglas Retail Park, Newport, NP20 2NS, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
5 years
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Printsetters.com Ltd
Notes to the Accounts
for the year ended 31 March 2024
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2023
98,534
28,000
4,800
131,334
Additions
20,764
-
275
21,039
Disposals
(14,970)
-
-
(14,970)
At 31 March 2024
104,328
28,000
5,075
137,403
At 1 April 2023
64,601
18,083
2,813
85,497
Charge for the year
11,805
7,000
576
19,381
On disposals
(4,990)
-
-
(4,990)
At 31 March 2024
71,416
25,083
3,389
99,888
At 31 March 2024
32,912
2,917
1,686
37,515
At 31 March 2023
33,933
9,917
1,987
45,837
Finished goods
18,000
40,000
Amounts falling due within one year
Trade debtors
28,455
28,765
Printsetters.com Ltd
Notes to the Accounts
for the year ended 31 March 2024
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
9,000
9,726
Obligations under finance leases and hire purchase contracts
1,311
3,418
Trade creditors
20,253
22,760
Taxes and social security
5,370
3,510
8
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
10,821
4,221
9
Provisions for liabilities
£
Doubtful debt provision relating to accounts receivable greater than a year.
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
11
Average number of employees
During the year the average number of employees was 6 (2023: 6).