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REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

SPRITE LABELS LIMITED

SPRITE LABELS LIMITED (REGISTERED NUMBER: 02194736)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 April 2024




Page

Company Information 1

Report of the Directors 2

Balance Sheet 3

Notes to the Financial Statements 4

Chartered Certified Accountants' Report 9

SPRITE LABELS LIMITED

COMPANY INFORMATION
for the year ended 30 April 2024







DIRECTORS: Mrs L S Jessop
A Katsouris





SECRETARY: A Katsouris





REGISTERED OFFICE: Unit 8 Glaisdale Point
Glaisdale Parkway
Bilborough
Nottingham
NG8 4GP





REGISTERED NUMBER: 02194736 (England and Wales)





ACCOUNTANTS: Hewitt Card Limited
Chartered Certified Accountants
70-72 Nottingham Road
Mansfield
Nottinghamshire
NG18 1BN

SPRITE LABELS LIMITED (REGISTERED NUMBER: 02194736)

REPORT OF THE DIRECTORS
for the year ended 30 April 2024

The directors present their report with the financial statements of the company for the year ended 30 April 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of the printing of labels and ancillary products.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 May 2023 to the date of this report.

Mrs L S Jessop
A Katsouris

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





A Katsouris - Director


2 September 2024

SPRITE LABELS LIMITED (REGISTERED NUMBER: 02194736)

BALANCE SHEET
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 692,595 753,344
692,595 753,344

CURRENT ASSETS
Stocks 356,814 511,625
Debtors 7 1,889,068 1,722,708
Cash at bank 797,396 794,727
3,043,278 3,029,060
CREDITORS
Amounts falling due within one year 8 1,443,648 1,425,714
NET CURRENT ASSETS 1,599,630 1,603,346
TOTAL ASSETS LESS CURRENT LIABILITIES 2,292,225 2,356,690

CREDITORS
Amounts falling due after more than one year 9 (286,055 ) (375,736 )

PROVISIONS FOR LIABILITIES 11 (168,818 ) (177,849 )
NET ASSETS 1,837,352 1,803,105

CAPITAL AND RESERVES
Called up share capital 12 1,000 1,000
Retained earnings 13 1,836,352 1,802,105
SHAREHOLDERS' FUNDS 1,837,352 1,803,105

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

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

The directors acknowledge their 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 September 2024 and were signed on its behalf by:





A Katsouris - Director


SPRITE LABELS LIMITED (REGISTERED NUMBER: 02194736)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 April 2024

1. STATUTORY INFORMATION

Sprite Labels 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.

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


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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 2018, is being amortised evenly over its estimated useful life of two 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.

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.
Plant and machinery etc - 25% on reducing balance and Over the life of the lease

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 Statement of Income and Retained Earnings, 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.

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.

SPRITE LABELS LIMITED (REGISTERED NUMBER: 02194736)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024

3. ACCOUNTING POLICIES - continued

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 (2023 - 32 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 5,000
AMORTISATION
At 1 May 2023
and 30 April 2024 5,000
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 -

6. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 May 2023 10,252 2,079,587 58,026
Additions 1,099 116,585 6,527
Disposals - (149,840 ) -
At 30 April 2024 11,351 2,046,332 64,553
DEPRECIATION
At 1 May 2023 2,615 1,391,795 35,167
Charge for year 174 192,903 9,205
Eliminated on disposal - (146,371 ) -
At 30 April 2024 2,789 1,438,327 44,372
NET BOOK VALUE
At 30 April 2024 8,562 608,005 20,181
At 30 April 2023 7,637 687,792 22,859

SPRITE LABELS LIMITED (REGISTERED NUMBER: 02194736)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024

6. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 May 2023 54,935 12,171 2,214,971
Additions 56,500 4,294 185,005
Disposals (29,625 ) (3,461 ) (182,926 )
At 30 April 2024 81,810 13,004 2,217,050
DEPRECIATION
At 1 May 2023 24,946 7,104 1,461,627
Charge for year 11,338 1,563 215,183
Eliminated on disposal (3,495 ) (2,489 ) (152,355 )
At 30 April 2024 32,789 6,178 1,524,455
NET BOOK VALUE
At 30 April 2024 49,021 6,826 692,595
At 30 April 2023 29,989 5,067 753,344

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 May 2023 737,041
Transfer to ownership (280,571 )
At 30 April 2024 456,470
DEPRECIATION
At 1 May 2023 207,048
Charge for year 111,740
Transfer to ownership (197,538 )
At 30 April 2024 121,250
NET BOOK VALUE
At 30 April 2024 335,220
At 30 April 2023 529,993

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,457,629 1,349,802
Amounts recoverable on contract 338,224 275,606
Other debtors 2,700 18,600
Directors' current accounts 7,960 11,418
Tax 5,297 6,922
Prepayments 77,258 60,360
1,889,068 1,722,708

SPRITE LABELS LIMITED (REGISTERED NUMBER: 02194736)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,225 9,979
Hire purchase contracts (see note 10) 79,465 114,529
Trade creditors 1,118,955 1,238,115
Tax 93,728 133
Social security and other taxes 16,708 14,545
VAT 86,932 14,292
Directors' current accounts 27,092 16,844
Accrued expenses 10,543 17,277
1,443,648 1,425,714

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 10,489 10,234
Bank loans - 2-5 years 886 11,357
Hire purchase contracts (see note 10) 274,680 354,145
286,055 375,736

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Gross obligations repayable:
Within one year 100,882 115,195
Between one and five years 302,648 354,145
403,530 469,340

Finance charges repayable:
Within one year 21,417 666
Between one and five years 27,968 -
49,385 666

Net obligations repayable:
Within one year 79,465 114,529
Between one and five years 274,680 354,145
354,145 468,674

Non-cancellable operating leases
2024 2023
£    £   
Within one year 103,535 95,639
Between one and five years 39,696 119,863
143,231 215,502

SPRITE LABELS LIMITED (REGISTERED NUMBER: 02194736)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024

11. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 168,818 177,849

Deferred
tax
£   
Balance at 1 May 2023 177,849
Provided during year (9,031 )
Balance at 30 April 2024 168,818

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,000 Ordinary £1 1,000 1,000

13. RESERVES
Retained
earnings
£   

At 1 May 2023 1,802,105
Profit for the year 275,247
Dividends (241,000 )
At 30 April 2024 1,836,352

14. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2024 and 30 April 2023:

2024 2023
£    £   
Mrs L S Jessop
Balance outstanding at start of year 11,418 16,297
Amounts advanced 4,405 -
Amounts repaid (7,863 ) (4,879 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 7,960 11,418

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
SPRITE LABELS LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Sprite Labels Limited for the year ended 30 April 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Sprite Labels Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Sprite Labels Limited and state those matters that we have agreed to state to the Board of Directors of Sprite Labels Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Sprite Labels Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Sprite Labels Limited. You consider that Sprite Labels Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Sprite Labels Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Hewitt Card Limited
Chartered Certified Accountants
70-72 Nottingham Road
Mansfield
Nottinghamshire
NG18 1BN


2 September 2024