Registered number: 02247753 | ||||||||
FOR THE YEAR ENDED 31/05/2024 | ||||||||
Prepared By: | ||||||||
Morgan Dodd Limited | ||||||||
Chartered Certified Accountants & Registered Auditors | ||||||||
5 Myrtle Grove | ||||||||
Auckley | ||||||||
Doncaster | ||||||||
South Yorkshire | ||||||||
DN9 3HR |
Focus Label Machinery Limited | ||||||||
ACCOUNTS | ||||||||
FOR THE YEAR ENDED 31/05/2024 | ||||||||
DIRECTORS | ||||||||
SECRETARY | ||||||||
REGISTERED OFFICE | ||||||||
COMPANY DETAILS | ||||||||
Private company limited by shares registered in EW - England and Wales, registered number 02247753 | ||||||||
BANKERS | ||||||||
National Westminster Bank plc | ||||||||
SOLICITORS | ||||||||
Young and Pearce, Nottingham | ||||||||
ACCOUNTANTS | ||||||||
Morgan Dodd Limited | ||||||||
Chartered Certified Accountants & Registered Auditors | ||||||||
5 Myrtle Grove | ||||||||
Auckley | ||||||||
Doncaster | ||||||||
South Yorkshire | ||||||||
DN9 3HR |
Focus Label Machinery Limited | ||||||||
ACCOUNTS | ||||||||
FOR THEYEARENDED31/05/2024 | ||||||||
CONTENTS | ||||||||
Page | ||||||||
Directors' Report | - | |||||||
Statement Of Comprehensive Income | - | |||||||
Balance Sheet | 3 | |||||||
Notes To The Accounts | 4 | |||||||
The following do not form part of the statutory financial statements: | ||||||||
Trading And Profit And Loss Account | - | |||||||
Profit And Loss Account Summaries | - |
Focus Label Machinery Limited | ||||||||
BALANCE SHEET AT | ||||||||||
2024 | 2023 | |||||||||
Notes | £ | £ | ||||||||
FIXED ASSETS | ||||||||||
Tangible assets | 2 | |||||||||
CURRENT ASSETS | ||||||||||
Stock | ||||||||||
Debtors | 5 | |||||||||
Cash at bank and in hand | ||||||||||
1,514,051 | 1,629,815 | |||||||||
CREDITORS: Amounts falling due within one year | 6 | |||||||||
NET CURRENT ASSETS | 959,141 | |||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES | ||||||||||
CREDITORS: Amounts falling due after more than one year | 7 | 157,371 | 272,238 | |||||||
PROVISIONS FOR LIABILITIES AND CHARGES | 9 | |||||||||
NET ASSETS | ||||||||||
CAPITAL AND RESERVES | ||||||||||
Called up share capital | 10 | |||||||||
Other reserves | 11 | 6 | 6 | |||||||
Profit and loss account | 1,690,811 | 1,746,319 | ||||||||
SHAREHOLDERS' FUNDS | ||||||||||
Approved by the board on | ||||||||||
............................. | ||||||||||
Director | ||||||||||
Focus Label Machinery Limited | ||||||||
NOTES TO THE ACCOUNTS | ||||||||||
FOR THE YEAR ENDED 31/05/2024 | ||||||||||
1. ACCOUNTING POLICIES |
1a. Basis Of Accounting | ||||||||
The accounts have been prepared under the historical cost convention. | ||||||||
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 . |
1b. Depreciation | ||||||||
Land And Buildings | reducing balance 1% | |||||||
Plant and Machinery | reducing balance 15% | |||||||
Equipment | reducing balance 20% | |||||||
Motor Cars | reducing balance 25% |
1c. Stocks | ||||||||
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs. | ||||||||
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs. |
1d. Pension Costs | ||||||||
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year. |
1e. Investments | ||||||||
Fixed asset investments are shown at cost less amounts written off. | ||||||||
Provisions are made for permanent fluctuations in value. |
Focus Label Machinery Limited | ||||||||
2. TANGIBLE FIXED ASSETS | |||||||||||
Land And | Plant and | ||||||||||
Buildings | Machinery | Equipment | Motor Cars | Total | |||||||
£ | £ | £ | £ | £ | |||||||
Cost | |||||||||||
At 01/06/2023 | 1,274,613 | 1,673,885 | 357,589 | 285,486 | 3,591,573 | ||||||
Additions | - | 24,391 | - | - | 24,391 | ||||||
Disposals | - | - | - | (37,950) | (37,950) | ||||||
At 31/05/2024 | 1,274,613 | 1,698,276 | 357,589 | 247,536 | 3,578,014 | ||||||
Depreciation | |||||||||||
At 01/06/2023 | 384,470 | 1,613,782 | 326,615 | 159,983 | 2,484,850 | ||||||
Disposals | - | - | - | (16,604) | (16,604) | ||||||
For the year | 7,612 | 12,674 | 5,324 | 26,039 | 51,649 | ||||||
At 31/05/2024 | 392,082 | 1,626,456 | 331,939 | 169,418 | 2,519,895 | ||||||
Net Book Amounts | |||||||||||
At 31/05/2024 | 1,058,119 | ||||||||||
At 31/05/2023 | 1,106,723 | ||||||||||
Motor vehicles with a net book value of £62,254 (2023: £104,352) are financed via hire purchase contracts. | |||||||||||
3. FINANCIAL ASSETS | ||||||||
Cost | ||||||||
Amortisation | ||||||||
Net Book Amounts | ||||||||
4. STOCK | 2024 | 2023 | ||||
£ | £ | |||||
Stock comprises: | ||||||
Stock | ||||||
Focus Label Machinery Limited | ||||||||
5. DEBTORS | 2024 | 2023 | ||||||
£ | £ | |||||||
Amounts falling due within one year | ||||||||
Trade debtors | 739,041 | 538,535 | ||||||
VAT | - | 37,398 | ||||||
Other debtors | 13,135 | 10,684 | ||||||
Prepayments | 46,952 | 61,945 | ||||||
Directors current account | 16,442 | 8,038 | ||||||
815,570 | 656,600 | |||||||
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
2024 | 2023 | |||||||
£ | £ | |||||||
VAT | 38,604 | - | ||||||
PAYE control | 46,792 | 79,010 | ||||||
Bank Loan | 96,000 | 96,000 | ||||||
Credit card | 6,428 | 4,051 | ||||||
Hire purchase | 22,824 | 28,408 | ||||||
Trade creditors | 413,211 | 432,505 | ||||||
Other creditors | 24,828 | 6,155 | ||||||
Accruals | 30,745 | 24,545 | ||||||
679,432 | 670,674 | |||||||
7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | ||||||||
2024 | 2023 | |||||||
£ | £ | |||||||
Bank loans (unsecured) >1yr | 96,000 | 192,000 | ||||||
Hire purchase >1yr | 61,371 | 80,238 | ||||||
157,371 | 272,238 | |||||||
8. EMPLOYEES | ||||||
2024 | 2023 | |||||
No. | No. | |||||
Average number of employees | 34 | |||||
Focus Label Machinery Limited | ||||||||
9. PROVISIONS FOR LIABILITIES | 2024 | 2023 | ||||||
£ | £ | |||||||
Deferred taxation | 14,490 | 17,241 | ||||||
14,490 | 17,241 | |||||||
10. SHARE CAPITAL | 2024 | 2023 | ||||||
£ | £ | |||||||
Allotted, issued and fully paid: | ||||||||
30060 | 30060 | |||||||
30,060 | 30,060 | |||||||
11. OTHER RESERVES | 2024 | 2023 | ||||
£ | £ | |||||
Non-equity shares | 6 | 6 | ||||
6 | 6 | |||||