Company Registration No. 07085893 (England and Wales)
OJ Printing Limited
Unaudited accounts
for the year ended 31 March 2024
OJ Printing Limited
Unaudited accounts
Contents
OJ Printing Limited
Company Information
for the year ended 31 March 2024
Directors
Carl Osborne
Axel Jones
Company Number
07085893 (England and Wales)
Registered Office
Unit 1
Upper Boat Trading Estate
Pontypridd
Mid Glamorgan
CF37 5BP
Wales
Accountants
Sky Life Accountancy Limited
Unit 32
Western Industrial Estate
Caerphilly
Caerphilly
CF83 1BE
OJ Printing Limited
Statement of financial position
as at 31 March 2024
Tangible assets
335,101
376,440
Cash at bank and in hand
13,590
16,425
Creditors: amounts falling due within one year
(52,767)
(48,852)
Net current assets
135,872
90,376
Total assets less current liabilities
470,973
466,816
Creditors: amounts falling due after more than one year
(46,778)
(55,435)
Provisions for liabilities
Deferred tax
(22,302)
(23,984)
Net assets
401,893
387,397
Called up share capital
100
100
Profit and loss account
401,793
387,297
Shareholders' funds
401,893
387,397
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 directors acknowledge their 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 of Directors and authorised for issue on 23 December 2024 and were signed on its behalf by
Carl Osborne
Director
Company Registration No. 07085893
OJ Printing Limited
Notes to the Accounts
for the year ended 31 March 2024
OJ Printing Limited is a private company, limited by shares, registered in England and Wales, registration number 07085893. The registered office is Unit 1, Upper Boat Trading Estate, Pontypridd, Mid Glamorgan, CF37 5BP, Wales.
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.
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:
Land & buildings
2% Straight Line
Plant & machinery
20% Reducing Balance
Motor vehicles
20% Reducing Balance
Computer equipment
25% Reducing Balance
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 accounts are presented in £ sterling.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
OJ Printing Limited
Notes to the Accounts
for the year ended 31 March 2024
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.
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 April 2023
192,531
693,535
38,828
8,187
933,081
Additions
-
-
-
2,530
2,530
At 31 March 2024
192,531
693,535
38,828
10,717
935,611
At 1 April 2023
15,404
505,869
30,686
4,682
556,641
Charge for the year
3,542
37,533
1,628
1,166
43,869
At 31 March 2024
18,946
543,402
32,314
5,848
600,510
At 31 March 2024
173,585
150,133
6,514
4,869
335,101
At 31 March 2023
177,127
187,666
8,142
3,505
376,440
Raw materials
60,000
60,000
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Amounts falling due within one year
Accrued income and prepayments
41,103
1,543
Other debtors
66,289
56,617
OJ Printing Limited
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
8,668
8,227
Trade creditors
29,017
25,018
Taxes and social security
8,700
10,373
Loans from directors
2,447
2,530
8
Creditors: amounts falling due after more than one year
2024
2023
9
Deferred taxation
2024
2023
Accelerated capital allowances
23,984
28,097
Tax losses carried forward
(989)
(3,130)
Other deferred taxation
(693)
(983)
Provision at start of year
23,984
28,097
Credited to the profit and loss account
(1,682)
(4,113)
Provision at end of year
22,302
23,984
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
11
Operating lease commitments
2024
2023
At 31 March 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
-
1,319
During the year, the company made interest-free advances to the directors amounting to £2,595. These were repayable on demand. The company received credits of £2,512.
OJ Printing Limited
Notes to the Accounts
for the year ended 31 March 2024
13
Transactions with related parties
During the year the company received £6,000 (2023 - £39,091) and gave credit for stock, postage and distribution costs amounting to £17,353 (2023 - £43,159) from (to) Sublime Signs Ltd, a company in which Mr C Osborne and Mr A Jones have controlling interest. These costs were charged at an arm lengths basis. Included in debtors is a balance owing from Sublime Signs Ltd amounting to £54,517 (2023 - £54,517).
14
Average number of employees
During the year the average number of employees was 7 (2023: 7).