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Company registration number: 13135581
Precision Labelling Holdings Limited
Unaudited filleted financial statements
30 June 2024
THE BARKER PARTNERSHIP
Chartered Accountants
Thirsk
Precision Labelling Holdings Limited
Contents
Directors and other information
Accountants report
Balance sheet
Notes to the financial statements
Precision Labelling Holdings Limited
Directors and other information
Directors Mr P M Laverick
Mr B J Hodgson
Secretary B J Hodgson
Company number 13135581
Registered office Plews Way
Leeming Bar Industrial Estate
Leeming Bar
Northallerton, North Yorkshire
DL7 9UL
Accountants The Barker Partnership
17 Central Buildings
Market Place
Thirsk
North Yorkshire
YO7 1HD
Precision Labelling Holdings Limited
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of Precision Labelling Holdings Limited
Year ended 30 June 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Precision Labelling Holdings Limited for the year ended 30 June 2024 which comprise the Balance sheet and related notes 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 /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of Precision Labelling Holdings 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 financial statements of Precision Labelling Holdings Limited and state those matters that we have agreed to state to the board of directors of Precision Labelling Holdings 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 Precision Labelling Holdings Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Precision Labelling Holdings Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Precision Labelling Holdings Limited. You consider that Precision Labelling Holdings 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 financial statements of Precision Labelling Holdings 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 financial statements.
The Barker Partnership
Chartered Accountants
17 Central Buildings
Market Place
Thirsk
North Yorkshire
YO7 1HD
3 March 2025
Precision Labelling Holdings Limited
Balance sheet
30 June 2024
2024 2023
Note £ £ £ £
Fixed assets
Investments 5 630,600 630,600
_______ _______
630,600 630,600
Creditors: amounts falling due
within one year 6 ( 629,682) ( 629,682)
_______ _______
Net current liabilities ( 629,682) ( 629,682)
_______ _______
Total assets less current liabilities 918 918
_______ _______
Net assets 918 918
_______ _______
Capital and reserves
Called up share capital 2 2
Profit and loss account 916 916
_______ _______
Shareholders funds 918 918
_______ _______
For the 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 03 March 2025 , and are signed on behalf of the board by:
Mr P M Laverick Mr B J Hodgson
Director Director
Company registration number: 13135581
Precision Labelling Holdings Limited
Notes to the financial statements
Year ended 30 June 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Plews Way, Leeming Bar Industrial Estate, Leeming Bar, Northallerton, North Yorkshire, DL7 9UL.
The principal activity of the company is that of being a holding company.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Investments
Shares in group undertakings and participating interests Total
£ £
Cost
At 1 July 2023 and 30 June 2024 630,600 630,600
_______ _______
Impairment
At 1 July 2023 and 30 June 2024 - -
_______ _______
Carrying amount
At 30 June 2024 630,600 630,600
_______ _______
At 30 June 2023 630,600 630,600
_______ _______
6. Creditors: amounts falling due within one year
2024 2023
£ £
Amounts owed to group undertakings 629,682 629,682
_______ _______
7. Related party transactions
Included within creditors is an amount of £629,682 (2023: £629,682) due to Precision Labelling Systems Limited, this company's subsidiary.