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Registration number: 04239188

Print Junction Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

Print Junction Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Print Junction Limited

Company Information

Directors

Mrs S Adams

Mr J Adams

Mr L I Adams

Mr Matthew Harry Adams

Company secretary

Mr Matthew Harry Adams

Registered office

Cobbs Wood House
Cobbs Wood Industrial Estate
Ashford
Kent
TN23 1EP

 

Print Junction Limited

(Registration number: 04239188)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

403,345

339,492

Other financial assets

5

10,000

10,000

 

413,345

349,492

Current assets

 

Stocks

6

37,760

50,346

Debtors

7

439,497

418,072

Cash at bank and in hand

 

114,041

48,337

 

591,298

516,755

Creditors: Amounts falling due within one year

8

(186,528)

(182,566)

Net current assets

 

404,770

334,189

Net assets

 

818,115

683,681

Capital and reserves

 

Called up share capital

200

200

Retained earnings

817,915

683,481

Shareholders' funds

 

818,115

683,681

 

Print Junction Limited

(Registration number: 04239188)
Balance Sheet as at 30 September 2024 (continued)

For the financial year ending 30 September 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.

Approved and authorised by the Board on 14 March 2025 and signed on its behalf by:
 

.........................................
Mr J Adams
Director

   
     
 

Print Junction Limited

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

1

General information

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

The address of its registered office is:
Cobbs Wood House
Cobbs Wood Industrial Estate
Ashford
Kent
TN23 1EP

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 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.

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.

 

Print Junction Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

2

Accounting policies (continued)

Tax

The tax expense for the period comprises current 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.

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

Fixtures and fittings

10% Straight line

Plant and machinery

20% Reducing balance

Office equipment

10% Reducing balance

Motor Vehicles

25% Reducing balance

Investments

The Company aquired an investment in Angling Direct Plc.

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.

 

Print Junction Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

2

Accounting policies (continued)

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 in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

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.

 

Print Junction Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

2

Accounting policies (continued)

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 16 (2023 - 17).

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 October 2023

130,898

466,534

21,302

47,292

666,026

Additions

4,717

88,660

24,671

15,000

133,048

At 30 September 2024

135,615

555,194

45,973

62,292

799,074

Depreciation

At 1 October 2023

24,542

288,747

5,532

7,713

326,534

Charge for the year

13,168

40,992

1,703

13,332

69,195

At 30 September 2024

37,710

329,739

7,235

21,045

395,729

Carrying amount

At 30 September 2024

97,905

225,455

38,738

41,247

403,345

At 30 September 2023

106,356

177,787

15,770

39,579

339,492

5

Other financial assets (current and non-current)

2024
£

2023
£

Non-current financial assets

Quoted investments

10,000

10,000

 

Print Junction Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

6

Stocks

2024
£

2023
£

Other inventories

37,760

50,346

7

Debtors

Current

2024
£

2023
£

Trade debtors

44,940

39,394

Prepayments

6,435

6,015

Other debtors

388,122

372,663

 

439,497

418,072

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

60,067

75,565

Trade creditors

 

74,968

25,749

Taxation and social security

 

36,540

68,859

Accruals and deferred income

 

12,997

11,494

Other creditors

 

1,956

899

 

186,528

182,566

9

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

24,500

27,000

Directors current account

35,567

48,565

60,067

75,565

 

Print Junction Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

10

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £200.00 per each Ordinary

40,000

40,000

 

 

11

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

53,706

51,192

Loans to related parties

2024

Associates
£

Total
£

At start of period

372,663

372,663

Advanced

6,000

6,000

At end of period

378,663

378,663

2023

Associates
£

Total
£

At start of period

74,124

74,124

Advanced

377,640

377,640

Repaid

(79,101)

(79,101)

At end of period

372,663

372,663

 

Print Junction Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

11

Related party transactions (continued)

Loans from related parties

2024

Associates
£

Key management
£

Total
£

At start of period

899

47,565

48,464

Advanced

-

40,000

40,000

Repaid

-

(51,998)

(51,998)

At end of period

899

35,567

36,466

2023

Associates
£

Key management
£

Total
£

At start of period

-

303

303

Advanced

899

95,000

95,899

Repaid

-

(47,738)

(47,738)

At end of period

899

47,565

48,464