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Registration number: 01281567

B & D Print Services Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

B & D Print Services Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 12

 

B & D Print Services Limited

Company Information

Directors

JB Rawcliffe

RM Rawcliffe

GD Whewell

H L Rawcliffe

L J Traynor

Registered office

Rawcliffe House
30 Marathon Place
Moss Side Industrial Estate
Leyland Preston
PR26 7QN

Accountants

Crossley & Davis Chartered Accountants
Ground Floor, Seneca House
Links Point, Amy Johnson Way
Blackpool
Lancashire
FY4 2FF

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
B & D Print Services Limited
for the Year Ended 30 April 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of B & D Print Services Limited for the year ended 30 April 2024 as set out on pages 3 to 12 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of B & D Print Services Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of B & D Print Services Limited and state those matters that we have agreed to state to the Board of Directors of B & D Print Services Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than B & D Print Services Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that B & D Print Services Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of B & D Print Services Limited. You consider that B & D Print Services 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 accounts of B & D Print Services 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 accounts.

......................................

Crossley & Davis Chartered Accountants
Ground Floor, Seneca House
Links Point, Amy Johnson Way
Blackpool
Lancashire
FY4 2FF

30 January 2024

 

B & D Print Services Limited

(Registration number: 01281567)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

507,375

467,434

Current assets

 

Stocks

5

222,452

228,561

Debtors

6

840,893

739,419

Cash at bank and in hand

 

91,521

206,353

 

1,154,866

1,174,333

Creditors: Amounts falling due within one year

7

(920,378)

(959,999)

Net current assets

 

234,488

214,334

Total assets less current liabilities

 

741,863

681,768

Creditors: Amounts falling due after more than one year

7

(79,167)

-

Provisions for liabilities

(109,664)

(100,020)

Net assets

 

553,032

581,748

Capital and reserves

 

Called up share capital

8

268

268

Capital redemption reserve

106

106

Revaluation reserve

83,299

117,637

Retained earnings

469,359

463,737

Shareholders' funds

 

553,032

581,748

For the financial year ending 30 April 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.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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.

 

B & D Print Services Limited

(Registration number: 01281567)
Balance Sheet as at 30 April 2024

Approved and authorised by the Board on 30 January 2024 and signed on its behalf by:
 

.........................................
JB Rawcliffe
Director

 

B & D Print Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

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

The address of its registered office is:
Rawcliffe House
30 Marathon Place
Moss Side Industrial Estate
Leyland Preston
PR26 7QN

These financial statements were authorised for issue by the Board on 30 January 2024.

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/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.

Tax

The tax expense for the period comprises current and deferred 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.

 

B & D Print Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

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

All classes of tangible assets other than plant and machinery are stated in the statement of financial position 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.

Plant and machinery has been revalued using the fair value accounting treatment.

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

Plant and machinery

12.5% to 25% reducing balance

Fixtures and fittings

25% reducing balance

Motor vehicles

25% reducing balance

Equipment

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

B & D Print Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

B & D Print Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

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.

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 34 (2023 - 34).

 

B & D Print Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other property, plant and equipment
 £

Total
£

Cost or valuation

At 1 May 2023

63,644

117,272

951,660

1,132,576

Additions

1,710

26,725

125,000

153,435

Disposals

-

(18,150)

-

(18,150)

At 30 April 2024

65,354

125,847

1,076,660

1,267,861

Depreciation

At 1 May 2023

60,504

97,457

507,181

665,142

Charge for the year

1,763

10,912

99,002

111,677

Eliminated on disposal

-

(16,333)

-

(16,333)

At 30 April 2024

62,267

92,036

606,183

760,486

Carrying amount

At 30 April 2024

3,087

33,811

470,477

507,375

At 30 April 2023

3,140

19,815

444,479

467,434

Revaluation

The fair value of the company's Plant and machinery was revalued on 30 April 2019 by an independent valuer. The name and qualification of the independent valuer are Lambert Smith Hampton qualified by RICS.
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £361,556 (2023 - £290,628).

5

Stocks

2024
£

2023
£

Work in progress

55,918

55,837

Other inventories

166,534

172,724

222,452

228,561

 

B & D Print Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

6

Debtors

Current

2024
£

2023
£

Trade debtors

709,351

639,364

Prepayments

22,456

20,507

Other debtors

109,086

79,548

 

840,893

739,419

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

81,573

10,701

Trade creditors

 

600,636

621,972

Taxation and social security

 

20,565

32,089

Accruals and deferred income

 

41,480

49,642

Other creditors

 

176,124

245,595

 

920,378

959,999

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £81,573 (2023 - £12,617).

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

79,167

-

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £79,167 (2023 - £nil).

8

Share capital

Allotted, called up and fully paid shares

 

B & D Print Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

2024

2023

No.

£

No.

£

Ordinary shares of £0.01 each

20,000

200

20,000

200

Ordinary A shares of £0.01 each

5,000

50

5,000

50

Ordinary B shares of £0.01 each

1,800

18

1,800

18

26,800

268

26,800

268

9

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

Revaluation reserve
£

Retained earnings
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

-

45,784

45,784

Surplus/deficit on revaluation of other assets

(34,338)

-

(34,338)

(34,338)

45,784

11,446

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

Revaluation reserve
£

Retained earnings
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

-

44,025

44,025

Surplus/deficit on revaluation of other assets

(45,072)

-

(45,072)

(45,072)

44,025

(1,047)

The revaluation of plant and machinery has resulted in a deferred tax provision being carried of £27,767. The amounts shown in the table above are presented net of the effects of deferred tax.

 

B & D Print Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Hire purchase contracts

79,167

-

Current loans and borrowings

2024
£

2023
£

Hire purchase contracts

81,573

10,701