REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 May 2024 |
for |
Print & Display Limited |
T/A |
p&d Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 May 2024 |
for |
Print & Display Limited |
T/A |
p&d Ltd |
Print & Display Limited (Registered number: 04734875) |
T/A p&d Ltd |
Contents of the Financial Statements |
for the Year Ended 31 May 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Print & Display Limited |
T/A p&d Ltd |
Company Information |
for the Year Ended 31 May 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Park House |
37 Clarence Street |
Leicester |
Leicestershire |
LE1 3RW |
Print & Display Limited (Registered number: 04734875) |
T/A p&d Ltd |
Balance Sheet |
31 May 2024 |
31.5.24 | 31.5.23 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve |
Capital redemption reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
Print & Display Limited (Registered number: 04734875) |
T/A p&d Ltd |
Balance Sheet - continued |
31 May 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
Print & Display Limited (Registered number: 04734875) |
T/A p&d Ltd |
Notes to the Financial Statements |
for the Year Ended 31 May 2024 |
1. | STATUTORY INFORMATION |
Print & Display Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going concern |
The financial statements have been prepared on a going concern basis. The company is reliant on the directors who have confirmed that they will not withdraw their support in the foreseeable future. The directors therefore believe that the company will continue to have sufficient funds to pay all liabilities as they fall due. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Improvements to property | - |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Freehold property is held at valuation. |
Stocks |
Stocks and work in progress are measured at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items. |
Cost is calculated using the first-in, first-out method and includes all purchase, transport and handling costs in bringing stocks to their present location and condition. |
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. |
Print & Display Limited (Registered number: 04734875) |
T/A p&d Ltd |
Notes to the Financial Statements - continued |
for the Year Ended 31 May 2024 |
2. | ACCOUNTING POLICIES - continued |
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. |
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. |
Grants receivable |
Capital grants are recognised under the performance model. They are credited to the profit and loss account when any performance-related conditions have been met and the grant proceeds are receivable. |
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. |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Print & Display Limited (Registered number: 04734875) |
T/A p&d Ltd |
Notes to the Financial Statements - continued |
for the Year Ended 31 May 2024 |
4. | TANGIBLE FIXED ASSETS |
Improvements |
Freehold | to | Plant and |
property | property | machinery |
£ | £ | £ |
COST OR VALUATION |
At 1 June 2023 |
Additions |
Disposals | ( |
) |
At 31 May 2024 |
DEPRECIATION |
At 1 June 2023 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31 May 2024 |
NET BOOK VALUE |
At 31 May 2024 |
At 31 May 2023 |
Fixtures |
and | Motor |
fittings | vehicles | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 June 2023 |
Additions |
Disposals | ( |
) |
At 31 May 2024 |
DEPRECIATION |
At 1 June 2023 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31 May 2024 |
NET BOOK VALUE |
At 31 May 2024 |
At 31 May 2023 |
Print & Display Limited (Registered number: 04734875) |
T/A p&d Ltd |
Notes to the Financial Statements - continued |
for the Year Ended 31 May 2024 |
4. | TANGIBLE FIXED ASSETS - continued |
Cost or valuation at 31 May 2024 is represented by: |
Improvements |
Freehold | to | Plant and |
property | property | machinery |
£ | £ | £ |
Valuation in 2008 | 81,587 | - | - |
Valuation in 2010 | 20,000 | - | - |
Valuation in 2019 | (35,000 | ) | - | - |
Cost | 218,413 | 318,747 | 2,162,467 |
285,000 | 318,747 | 2,162,467 |
Fixtures |
and | Motor |
fittings | vehicles | Totals |
£ | £ | £ |
Valuation in 2008 | - | - | 81,587 |
Valuation in 2010 | - | - | 20,000 |
Valuation in 2019 | - | - | (35,000 | ) |
Cost | 165,480 | 22,389 | 2,887,496 |
165,480 | 22,389 | 2,954,083 |
If freehold property had not been revalued it would have been included at the following historical cost: |
31.5.24 | 31.5.23 |
£ | £ |
Cost | 218,413 | 218,413 |
Value of land in freehold land and buildings | 150,000 | 150,000 |
Freehold property was valued on an open market basis on 31 May 2024 by the Directors . |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.24 | 31.5.23 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
Other debtors includes prepayments and accrued income of £5,121 (2023 - £7,016). |
Print & Display Limited (Registered number: 04734875) |
T/A p&d Ltd |
Notes to the Financial Statements - continued |
for the Year Ended 31 May 2024 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.24 | 31.5.23 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts |
Trade creditors |
Taxation and social security |
Other creditors |
Other creditors includes accruals and deferred income of £77,755 (2023 - £48,595). |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.5.24 | 31.5.23 |
£ | £ |
Bank loans |
Hire purchase contracts |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans - more than 5 years | - | 123,283 |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.5.24 | 31.5.23 |
£ | £ |
Bank loans |
Hire purchase contracts | 881,680 | 673,327 |
Invoice discounting | 1,178,719 | 820,879 |
Hire purchase contracts and finance leases are secured on the assets being so acquired. |
The bank loan and invoice discounting liabilities are secured by fixed and floating charges over the assets of the company. |
9. | OTHER FINANCIAL COMMITMENTS |
The total amount of financial commitments, guarantees and contingencies that are not included in the balance sheet is £4,894 (2023 - £18,039). |