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Registration number: 06319594

Print & Procurement Limited

Unaudited Financial Statements

for the Year Ended 31 July 2024

 

Print & Procurement Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Print & Procurement Limited

Company Information

Directors

Mr M D Parker

Ms H Parker

Registered office

34 Boulevard
Weston-super-Mare
North Somerset
BS23 1NF

Accountants

Four Fifty Partnership
Chartered Accountants
34 Boulevard
Weston-super-Mare
North Somerset
BS23 1NF

 

Print & Procurement Limited

(Registration number: 06319594)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

1,764

1,227

Current assets

 

Debtors

6

4,099

1,378

Cash at bank and in hand

 

6,036

7,511

 

10,135

8,889

Creditors: Amounts falling due within one year

7

(45,665)

(36,658)

Net current liabilities

 

(35,530)

(27,769)

Net liabilities

 

(33,766)

(26,542)

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

(33,866)

(26,642)

Shareholders' deficit

 

(33,766)

(26,542)

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Print & Procurement Limited

(Registration number: 06319594)
Balance Sheet as at 31 July 2024

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 16 January 2025 and signed on its behalf by:
 

.........................................
Mr M D Parker
Director

 

Print & Procurement Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
34 Boulevard
Weston-super-Mare
North Somerset
BS23 1NF
United Kingdom

The principal place of business is:
PO Box 3293
Corsham
SN13 8WQ

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentation currency of the financial statements is Pound Sterling (£).

 

Print & Procurement Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

2

Accounting policies (continued)

Going concern

As at the balance sheet date, the company had net current liabilities of £35,530 (2023 - £27,769) and a net liabilitiy position of £33,766 (2023 - £26,542).

The directors have considered the position of the company and, with the continued support they are providing in the form or a directors loan of £40,383 are happy to prepare the financial statements on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

 

Print & Procurement Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

2

Accounting policies (continued)

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Property, plant and equipment

15% reducing balance/3 years on cost

Furniture, fittings and equipment

15% reducing balance

Computer equipement

33% on cost

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Website development

3 years on cost

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Print & Procurement Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

2

Accounting policies (continued)

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Intangible assets

Trademarks, patents and licenses
 £

Total
£

Cost or valuation

At 1 August 2023

2,250

2,250

At 31 July 2024

2,250

2,250

Amortisation

At 1 August 2023

2,250

2,250

At 31 July 2024

2,250

2,250

Carrying amount

At 31 July 2024

-

-

 

Print & Procurement Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

5

Tangible assets

Furniture, fittings and equipment
 £

Property, plant and equipment
 £

Total
£

Cost or valuation

At 1 August 2023

4,954

1,390

6,344

Additions

1,632

-

1,632

At 31 July 2024

6,586

1,390

7,976

Depreciation

At 1 August 2023

3,870

1,247

5,117

Charge for the year

1,074

21

1,095

At 31 July 2024

4,944

1,268

6,212

Carrying amount

At 31 July 2024

1,642

122

1,764

At 31 July 2023

1,084

143

1,227

6

Debtors

Current

2024
£

2023
£

Trade debtors

3,684

925

Prepayments

157

64

Other debtors

258

389

 

4,099

1,378

 

Print & Procurement Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

3,337

166

Taxation and social security

121

-

Accruals and deferred income

1,824

1,841

Other creditors

40,383

34,651

45,665

36,658

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100