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Registered number: 01318246
Tri-Print Limited
Unaudited Financial Statements
For The Year Ended 31 July 2024
Search Accountancy Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 01318246
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 278,342 323,668
278,342 323,668
CURRENT ASSETS
Stocks 5 32,000 43,000
Debtors 6 279,963 258,153
Cash at bank and in hand 186,165 21,107
498,128 322,260
Creditors: Amounts Falling Due Within One Year 7 (377,180 ) (174,718 )
NET CURRENT ASSETS (LIABILITIES) 120,948 147,542
TOTAL ASSETS LESS CURRENT LIABILITIES 399,290 471,210
Creditors: Amounts Falling Due After More Than One Year 8 (107,970 ) (158,274 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 10 (50,418 ) (38,000 )
NET ASSETS 240,902 274,936
CAPITAL AND RESERVES
Called up share capital 11 1,000 1,000
Profit and Loss Account 239,902 273,936
SHAREHOLDERS' FUNDS 240,902 274,936
Page 1
Page 2
For the 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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs M Suddards
Director
10/12/2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Tri-Print Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01318246 . The registered office is York Street Works, York Street, Bradford, West Yorkshire, BD8 0HR.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15% on WDV
Motor Vehicles 25% on WDV
Fixtures & Fittings 15% on WDV
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 11 (2023: 13)
11 13
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 August 2023 1,066,468 79,266 39,702 1,185,436
Additions 5,350 - - 5,350
As at 31 July 2024 1,071,818 79,266 39,702 1,190,786
Depreciation
As at 1 August 2023 769,228 66,040 26,500 861,768
Provided during the period 45,389 3,307 1,980 50,676
As at 31 July 2024 814,617 69,347 28,480 912,444
...CONTINUED
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Net Book Value
As at 31 July 2024 257,201 9,919 11,222 278,342
As at 1 August 2023 297,240 13,226 13,202 323,668
5. Stocks
2024 2023
£ £
Stock 32,000 43,000
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 225,013 200,774
Other debtors 53,233 55,662
278,246 256,436
Due after more than one year
Other debtors 1,717 1,717
279,963 258,153
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 29,224 29,224
Trade creditors 123,852 66,904
Bank loans and overdrafts 26,091 19,054
Amounts owed to group undertakings 104,450 4,450
Other creditors 25,577 25,128
Taxation and social security 67,986 29,958
377,180 174,718
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 73,182 104,795
Bank loans 34,788 53,479
107,970 158,274
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9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 29,224 29,224
Later than one year and not later than five years 73,182 104,795
102,406 134,019
102,406 134,019
10. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 50,418 38,000
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,000 1,000
12. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 August 2023 Amounts advanced Amounts repaid Amounts written off As at 31 July 2024
£ £ £ £ £
Mr Michael Suddards 10,000 - - - 10,000
Mrs Margaret Suddards 1,040 - - - 1,040
Mr Brian Condon 10,000 - - - 10,000
The above loan is unsecured, interest free and repayable on demand.
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