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Registered Number: 05622988
England and Wales

 

 

 


Unaudited Financial Statements

for the year ended 31 March 2024

for

NORWICH PRINT SOLUTIONS LIMITED

 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 22,688    30,229 
22,688    30,229 
Current assets      
Stocks 4 5,975    5,500 
Debtors 5 92,596    96,040 
Cash at bank and in hand 6,404    13,877 
104,975    115,417 
Creditors: amount falling due within one year 6 (116,093)   (125,500)
Net current assets (11,118)   (10,083)
 
Total assets less current liabilities 11,570    20,146 
Provisions for liabilities 7 (5,672)   (7,542)
Net assets 5,898    12,604 
 

Capital and reserves
     
Called up share capital 10    10 
Profit and loss account 5,888    12,594 
Shareholders' funds 5,898    12,604 
 


For the year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 27 December 2024 and were signed on its behalf by:


-------------------------------
Mark Redmond
Director
1
General Information
Norwich Print Solutions Limited is a private company, limited by shares, registered in England and Wales, registration number 05622988, registration address Sapphire House, Roundtree Way, Norwich, NR7 8SQ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25% Reducing Balance
Stocks
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.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 5 (2023 : 5).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Total
  £   £
At 01 April 2023 192,503    192,503 
Additions  
Disposals  
At 31 March 2024 192,503    192,503 
Depreciation
At 01 April 2023 162,274    162,274 
Charge for year 7,541    7,541 
On disposals  
At 31 March 2024 169,815    169,815 
Net book values
Closing balance as at 31 March 2024 22,688    22,688 
Opening balance as at 01 April 2023 30,229    30,229 


4.

Stocks

2024
£
  2023
£
Stocks 5,975    5,500 
5,975    5,500 

5.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 48,103    37,154 
Prepayments & Accrued Income   3,140 
Directors' Current Accounts 44,493    55,746 
92,596    96,040 

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 41,718    41,290 
Bank Loans & Overdrafts 15,674    33,216 
Bank Overdraft 30,103    24,694 
Corporation Tax 10,749    17,301 
PAYE & Social Security 615    456 
Obligations under HP/Financial Leases 14,507   
Wages & Salaries Control Account   1,611 
VAT 2,727    6,932 
116,093    125,500 

7.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 7,542    2,370 
Charged to Profit & Loss (1,870)   5,172 
5,672    7,542 

2