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Registration number: 11784238

Prints In Pieces Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2024

 

Prints In Pieces Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

Prints In Pieces Ltd

(Registration number: 11784238)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

-

145

Current assets

 

Stocks

6

750

1,200

Debtors

7

198

72

Cash at bank and in hand

 

104

283

 

1,052

1,555

Creditors: Amounts falling due within one year

8

(29,391)

(28,431)

Net current liabilities

 

(28,339)

(26,876)

Net liabilities

 

(28,339)

(26,731)

Capital and reserves

 

Called up share capital

9

200

200

Retained earnings

(28,539)

(26,931)

Shareholders' deficit

 

(28,339)

(26,731)

For the financial year ending 30 June 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.

Approved and authorised by the Board on 12 March 2025 and signed on its behalf by:
 

Mr J A Dempster
Director

Miss S Blaschke
Director

 
     
 

Prints In Pieces Ltd

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

1

General information

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

The address of its registered office is:
Parkhill Studio
Walton Road
Wetherby
West Yorkshire
LS22 5DZ
England

These financial statements were authorised for issue by the Board on 12 March 2025.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Tangible assets

Tangible assets are stated in the balance sheet 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.

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

Office equipment

Straight line 33.33%

 

Prints In Pieces Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 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.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Loss before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

145

411

 

Prints In Pieces Ltd

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

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Depreciation

Carrying amount

At 30 June 2024

-

-

At 30 June 2023

145

145

6

Stocks

2024
£

2023
£

Other inventories

750

1,200

7

Debtors

Current

2024
£

2023
£

Trade debtors

198

72

 

198

72

 

Prints In Pieces Ltd

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

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

28,889

27,560

Trade creditors

 

324

871

Accruals and deferred income

 

178

-

 

29,391

28,431

 

Prints In Pieces Ltd

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

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

Ordinary A Shares of £1 each

51

51

51

51

Ordinary B Shares of £1 each

49

49

49

49

200

200

200

200

10

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Other borrowings

28,889

27,560