Caseware UK (AP4) 2023.0.135 2023.0.135 false2024-01-01carton printing for the pharmaceutical and food sector4144truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05865636 2024-01-01 2024-04-02 05865636 2023-01-01 2023-12-31 05865636 2024-04-02 05865636 2023-12-31 05865636 1 2024-01-01 2024-04-02 05865636 d:Director2 2024-01-01 2024-04-02 05865636 c:PlantMachinery 2024-01-01 2024-04-02 05865636 c:PlantMachinery 2024-04-02 05865636 c:PlantMachinery 2023-12-31 05865636 c:PlantMachinery c:OwnedOrFreeholdAssets 2024-01-01 2024-04-02 05865636 c:FurnitureFittings 2024-01-01 2024-04-02 05865636 c:FurnitureFittings 2024-04-02 05865636 c:FurnitureFittings 2023-12-31 05865636 c:FurnitureFittings c:OwnedOrFreeholdAssets 2024-01-01 2024-04-02 05865636 c:OfficeEquipment 2024-01-01 2024-04-02 05865636 c:OfficeEquipment 2024-04-02 05865636 c:OfficeEquipment 2023-12-31 05865636 c:OfficeEquipment c:OwnedOrFreeholdAssets 2024-01-01 2024-04-02 05865636 c:OwnedOrFreeholdAssets 2024-01-01 2024-04-02 05865636 c:CurrentFinancialInstruments 2024-04-02 05865636 c:CurrentFinancialInstruments 2023-12-31 05865636 c:CurrentFinancialInstruments c:WithinOneYear 2024-04-02 05865636 c:CurrentFinancialInstruments c:WithinOneYear 2023-12-31 05865636 c:ShareCapital 2024-04-02 05865636 c:ShareCapital 2023-12-31 05865636 c:OtherMiscellaneousReserve 2024-04-02 05865636 c:OtherMiscellaneousReserve 2023-12-31 05865636 c:RetainedEarningsAccumulatedLosses 2024-01-01 2024-04-02 05865636 c:RetainedEarningsAccumulatedLosses 2024-04-02 05865636 c:RetainedEarningsAccumulatedLosses 2023-12-31 05865636 d:FRS102 2024-01-01 2024-04-02 05865636 d:AuditExempt-NoAccountantsReport 2024-01-01 2024-04-02 05865636 d:FullAccounts 2024-01-01 2024-04-02 05865636 d:PrivateLimitedCompanyLtd 2024-01-01 2024-04-02 05865636 2 2024-01-01 2024-04-02 05865636 e:PoundSterling 2024-01-01 2024-04-02 iso4217:GBP xbrli:pure

Registered number: 05865636









Reelvision Print Limited







Unaudited

Financial statements

Information for filing with the registrar

For the period ended 2 April 2024

 
Reelvision Print Limited
Registered number: 05865636

Statement of Financial Position
As at 2 April 2024

2 April
31 December
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
400,081
449,696

Current assets
  

Stocks
 5 
271,630
275,189

Debtors: amounts falling due within one year
 6 
4,097,458
3,737,166

Cash at bank and in hand
 7 
6,431,354
6,121,908

  
10,800,442
10,134,263

Creditors: amounts falling due within one year
 8 
(1,205,476)
(945,631)

Net current assets
  
 
 
9,594,966
 
 
9,188,632

Total assets less current liabilities
  
9,995,047
9,638,328

Provisions for liabilities
  

Deferred tax
  
(98,296)
-

Net assets
  
9,896,751
9,638,328


Capital and reserves
  

Called up share capital 
  
99
99

Other reserves
 9 
1
1

Profit and loss account
 9 
9,896,651
9,638,228

  
9,896,751
9,638,328


The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the Period in question in accordance with section 476 of the Companies Act 2006.

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

Page 1

 
Reelvision Print Limited
Registered number: 05865636
    
Statement of Financial Position (continued)
As at 2 April 2024

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 


M Keating
Director

Date: 8 January 2025

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
Reelvision Print Limited
 
 
 
Notes to the Financial Statements
For the period ended 2 April 2024

1.


General information

Reelvision Print Limited is a private company, limited by shares, and incorporated in England and Wales, registration Number 05865636. The registered address is Carrs Industrial Estate, Commerce Street, Haslingden, Rossendale, Lancashire, BB4 5JT. 
Principal activity of the company continued to be that of carton printing for the pharmaceutical and food sector.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
Reelvision Print Limited
 
 
 
Notes to the Financial Statements
For the period ended 2 April 2024

2.Accounting policies (continued)

 
2.4

Current and deferred taxation

The tax expense for the Period comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
10%-33% Straight Line
Fixtures and fittings
-
25%-50% Straight line
Land and buildings
-
2% Straight Line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
Reelvision Print Limited
 
 
 
Notes to the Financial Statements
For the period ended 2 April 2024

2.Accounting policies (continued)

 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the Period was 41 (2023 - 44).

Page 5

 
Reelvision Print Limited
 
 
 
Notes to the Financial Statements
For the period ended 2 April 2024

4.


Tangible fixed assets







Plant and machinery
Fixtures and fittings
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 January 2024
2,608,714
72,804
11,155
2,692,673


Additions
12,542
4,461
-
17,003



At 2 April 2024

2,621,256
77,265
11,155
2,709,676



Depreciation


At 1 January 2024
2,159,018
72,804
11,155
2,242,977


Charge for the period 
66,618
-
-
66,618



At 2 April 2024

2,225,636
72,804
11,155
2,309,595



Net book value



At 2 April 2024
395,620
4,461
-
400,081



At 31 December 2023
449,696
-
-
449,696


5.


Stocks

2 April
31 December
2024
2023
£
£

Raw materials and consumables
131,188
162,405

Work in progress
14,599
2,588

Finished goods and goods for resale
125,843
110,196

271,630
275,189


Page 6

 
Reelvision Print Limited
 
 
 
Notes to the Financial Statements
For the period ended 2 April 2024

6.


Debtors

2 April
31 December
2024
2023
£
£


Trade debtors
1,145,245
805,733

Other debtors
2,890,114
2,915,465

Prepayments and accrued income
62,099
15,968

4,097,458
3,737,166



7.


Cash and cash equivalents

2 April
31 December
2024
2023
£
£

Cash at bank and in hand
6,431,354
6,121,908



8.


Creditors: Amounts falling due within one year

2 April
31 December
2024
2023
£
£

Trade creditors
469,007
335,787

Corporation tax
522,811
385,067

Other taxation and social security
207,659
178,502

Accruals and deferred income
5,999
46,275

1,205,476
945,631



9.


Reserves

Profit and loss account

The profit and loss reserve represents cumulative profits or losses, net of dividends paid and other adjustments.


10.


Transactions with directors

Included within debtors is a balance owed by directors to the company amounting to £2,176,488 (2023: £2,176,488). Advances made during the year totalled £nil (2023: £nil) and amounts repaid to the company amounted to £nil (2023: £nil). The maximum the loan account was overdrawn during the year was £2,176,488 (2023: £2,176,488). No interest is being charged on the loan which is repayable on demand.

Page 7

 
Reelvision Print Limited
 
 
 
Notes to the Financial Statements
For the period ended 2 April 2024

11.


Related party transactions

During the year, transactions with related parties totalling £41.5k (2023: £246k) were expensed through the profit and loss.


12.


Post balance sheet events

On 9 April 2024, 100% of the shares of Reelvision Print Limited were acquired by Woodberry Packaging Ltd. As a result of this the company is now a fully owned subsidiary of the Woodberry Packaging group. The company signed a new operating lease agreement on this date, with future minimum lease payments due of £90k per annum over a 5 year period.

Page 8