IRIS Accounts Production v24.3.0.553 01486877 director 1.7.23 30.6.24 30.6.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh014868772023-06-30014868772024-06-30014868772023-07-012024-06-30014868772022-06-30014868772022-07-012023-06-30014868772023-06-3001486877ns15:EnglandWales2023-07-012024-06-3001486877ns14:PoundSterling2023-07-012024-06-3001486877ns10:Director12023-07-012024-06-3001486877ns10:PrivateLimitedCompanyLtd2023-07-012024-06-3001486877ns10:SmallEntities2023-07-012024-06-3001486877ns10:AuditExempt-NoAccountantsReport2023-07-012024-06-3001486877ns10:SmallCompaniesRegimeForDirectorsReport2023-07-012024-06-3001486877ns10:SmallCompaniesRegimeForAccounts2023-07-012024-06-3001486877ns10:FullAccounts2023-07-012024-06-300148687712023-07-012024-06-3001486877ns10:CompanySecretary12023-07-012024-06-3001486877ns10:RegisteredOffice2023-07-012024-06-3001486877ns5:CurrentFinancialInstruments2024-06-3001486877ns5:CurrentFinancialInstruments2023-06-3001486877ns5:Non-currentFinancialInstruments2024-06-3001486877ns5:Non-currentFinancialInstruments2023-06-3001486877ns5:ShareCapital2024-06-3001486877ns5:ShareCapital2023-06-3001486877ns5:RetainedEarningsAccumulatedLosses2024-06-3001486877ns5:RetainedEarningsAccumulatedLosses2023-06-3001486877ns5:NetGoodwill2023-07-012024-06-3001486877ns5:IntangibleAssetsOtherThanGoodwill2023-07-012024-06-3001486877ns5:PatentsTrademarksLicencesConcessionsSimilar2023-07-012024-06-3001486877ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2023-07-012024-06-3001486877ns5:LeaseholdImprovements2023-07-012024-06-3001486877ns5:PlantMachinery2023-07-012024-06-3001486877ns5:FurnitureFittings2023-07-012024-06-3001486877ns5:MotorVehicles2023-07-012024-06-3001486877ns5:NetGoodwill2023-06-3001486877ns5:PatentsTrademarksLicencesConcessionsSimilar2023-06-3001486877ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2023-06-3001486877ns5:NetGoodwill2024-06-3001486877ns5:PatentsTrademarksLicencesConcessionsSimilar2024-06-3001486877ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2024-06-3001486877ns5:NetGoodwill2023-06-3001486877ns5:PatentsTrademarksLicencesConcessionsSimilar2023-06-3001486877ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2023-06-3001486877ns5:LeaseholdImprovements2023-06-3001486877ns5:PlantMachinery2023-06-3001486877ns5:FurnitureFittings2023-06-3001486877ns5:MotorVehicles2023-06-3001486877ns5:LeaseholdImprovements2024-06-3001486877ns5:PlantMachinery2024-06-3001486877ns5:FurnitureFittings2024-06-3001486877ns5:MotorVehicles2024-06-3001486877ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-06-3001486877ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-07-012024-06-3001486877ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2024-06-3001486877ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-06-3001486877ns5:CostValuation2023-06-3001486877ns5:DisposalsRepaymentsInvestments2024-06-3001486877ns5:CostValuation2024-06-3001486877ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-06-3001486877ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-06-3001486877ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2024-06-3001486877ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-06-3001486877ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-06-3001486877ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-06-3001486877ns5:Secured2024-06-3001486877ns5:Secured2023-06-30
REGISTERED NUMBER: 01486877 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

FOR

PROPRESS LIMITED

PROPRESS LIMITED (REGISTERED NUMBER: 01486877)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PROPRESS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTOR: Mr T M Oliver





SECRETARY: Mr T M Oliver





REGISTERED OFFICE: Create Business Hub
5 Rayleigh Road
Shenfield
Brentwood
Essex
CM13 1AB





REGISTERED NUMBER: 01486877 (England and Wales)





ACCOUNTANTS: Tish Press & Company
Create Business Hub
Ground Floor
5 Rayleigh Road
Hutton, Brentwood.
Essex
CM13 1AB

PROPRESS LIMITED (REGISTERED NUMBER: 01486877)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 19,213 9,315
Tangible assets 5 45,527 50,428
Investments 6 - 322,470
64,740 382,213

CURRENT ASSETS
Stocks 7 424,826 435,732
Debtors 8 370,804 358,215
Cash at bank and in hand 278,445 224,793
1,074,075 1,018,740
CREDITORS
Amounts falling due within one year 9 220,332 251,309
NET CURRENT ASSETS 853,743 767,431
TOTAL ASSETS LESS CURRENT
LIABILITIES

918,483

1,149,644

CREDITORS
Amounts falling due after more than one
year

10

57,924

87,440
NET ASSETS 860,559 1,062,204

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 850,559 1,052,204
SHAREHOLDERS' FUNDS 860,559 1,062,204

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

PROPRESS LIMITED (REGISTERED NUMBER: 01486877)

BALANCE SHEET - continued
30 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 director and authorised for issue on 3 January 2025 and were signed by:





Mr T M Oliver - Director


PROPRESS LIMITED (REGISTERED NUMBER: 01486877)

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

1. STATUTORY INFORMATION

Propress 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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 1991, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Development costs are being amortised evenly over their estimated useful life of nil years.

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.
Improvements to property - 10% on cost
Plant and machinery - 25% on cost and 25% on reducing balance
Fixtures and fittings - 25% on cost and 15% on reducing balance
Motor vehicles - 25% on 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


PROPRESS LIMITED (REGISTERED NUMBER: 01486877)

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

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

Foreign currencies
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 rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Patents
and Development
Goodwill licences costs Totals
£    £    £    £   
COST
At 1 July 2023 11,300 24,957 64,641 100,898
Additions - - 11,328 11,328
At 30 June 2024 11,300 24,957 75,969 112,226
AMORTISATION
At 1 July 2023 11,300 15,642 64,641 91,583
Amortisation for year - 1,430 - 1,430
At 30 June 2024 11,300 17,072 64,641 93,013
NET BOOK VALUE
At 30 June 2024 - 7,885 11,328 19,213
At 30 June 2023 - 9,315 - 9,315

PROPRESS LIMITED (REGISTERED NUMBER: 01486877)

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

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 July 2023 32,912 273,784 71,171 54,715 432,582
Additions - 1,225 - 26,490 27,715
Disposals - - - (11,409 ) (11,409 )
At 30 June 2024 32,912 275,009 71,171 69,796 448,888
DEPRECIATION
At 1 July 2023 32,912 278,014 64,252 6,975 382,153
Charge for year - 16,641 2,986 12,134 31,761
Eliminated on disposal - - - (10,553 ) (10,553 )
At 30 June 2024 32,912 294,655 67,238 8,556 403,361
NET BOOK VALUE
At 30 June 2024 - (19,646 ) 3,933 61,240 45,527
At 30 June 2023 - (4,230 ) 6,919 47,740 50,429

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 July 2023 27,898
Additions 26,490
At 30 June 2024 54,388
DEPRECIATION
At 1 July 2023 6,975
Charge for year 11,854
At 30 June 2024 18,829
NET BOOK VALUE
At 30 June 2024 35,559
At 30 June 2023 20,923

PROPRESS LIMITED (REGISTERED NUMBER: 01486877)

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

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 July 2023 322,470
Disposals (322,470 )
At 30 June 2024 -
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 322,470

7. STOCKS
2024 2023
£    £   
Finished goods 424,826 435,732

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 280,472 299,978
Directors' loan accounts 7,863 -
VAT 2,787 -
Prepayments and accrued income 79,682 58,237
370,804 358,215

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 35,000 35,000
Hire purchase contracts 7,870 1,707
Trade creditors 148,463 138,166
Tax - 29,044
Social security and other taxes 17,922 19,042
Pension fund 1,020 1,020
VAT - 4,359
Other creditors - 9,890
Net wages 1,171 1,171
Directors' loan accounts 4,519 8,452
Accruals and deferred income 4,367 3,458
220,332 251,309

PROPRESS LIMITED (REGISTERED NUMBER: 01486877)

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

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 35,000 35,000
Bank loans - 2-5 years - 35,000
Hire purchase contracts 22,924 17,440
57,924 87,440

11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 70,000 105,000
Hire purchase contracts 30,794 19,147
100,794 124,147

The bank loan and hire purchases are secured on the assets concerned.