REGISTERED NUMBER: |
Bootyman Printers Limited |
Unaudited Financial Statements for the Year Ended 29th September 2024 |
REGISTERED NUMBER: |
Bootyman Printers Limited |
Unaudited Financial Statements for the Year Ended 29th September 2024 |
Bootyman Printers Limited (Registered number: 02733554) |
Contents of the Financial Statements |
for the year ended 29th September 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Bootyman Printers Limited |
Company Information |
for the year ended 29th September 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Regent's Court |
Princess Street |
Hull |
East Yorkshire HU2 8BA |
Bootyman Printers Limited (Registered number: 02733554) |
Balance Sheet |
29th September 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks | 6 |
Debtors | 7 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 12 |
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. |
Bootyman Printers Limited (Registered number: 02733554) |
Balance Sheet - continued |
29th September 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
Bootyman Printers Limited (Registered number: 02733554) |
Notes to the Financial Statements |
for the year ended 29th September 2024 |
1. | STATUTORY INFORMATION |
Bootyman Printers Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Goodwill |
Goodwill is written off evenly over its estimated economic life of 5 years and is stated in the balance sheet at cost less amounts written off. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Plant and machinery etc | - |
Stocks |
Stocks and work in progress are valued at the lower of cost and net realisable value, 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. |
Stock and work in progress is stated at the lower of cost and net realisable value. Cost represents that expenditure which has been incurred in the normal course of business in bringing the product or service to its present location and condition. |
In the case of raw materials and consumable stores, cost means purchase price including transport and handling costs, less trade discounts, calculated on a first in first out basis. In the case of work in progress and finished goods, cost consists of direct materials, direct labour and attributable production and other overheads based on normal levels of activity. Net realisable value means estimated selling price less all further costs to completion and all costs to be incurred in marketing, selling and distribution. |
Bootyman Printers Limited (Registered number: 02733554) |
Notes to the Financial Statements - continued |
for the year ended 29th September 2024 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss, 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. |
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. |
Government grants |
Government grants in respect of capital expenditure are credited to the profit and loss account over the estimated lives of the relevant fixed assets. The amount shown in the balance sheet as deferred government grants represents the total grants receivable to date less the amounts so far released to profit and loss account. |
Grants of a revenue nature which are made to give immediate financial support or to reimburse costs previously incurred are credited to profit and loss account in the period in which they become receivable. |
Grants of a revenue nature which are made to finance general activities over a specified period or to compensate for a loss of current or future income are credited to profit and loss account in the period in which they are paid. |
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 the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability. |
Rentals applicable to operating leases where substantially all of the benefits and risk of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Bootyman Printers Limited (Registered number: 02733554) |
Notes to the Financial Statements - continued |
for the year ended 29th September 2024 |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 30th September 2023 |
and 29th September 2024 |
AMORTISATION |
At 30th September 2023 |
and 29th September 2024 |
NET BOOK VALUE |
At 29th September 2024 |
At 29th September 2023 |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and |
machinery | fittings | Totals |
£ | £ | £ |
COST |
At 30th September 2023 |
Disposals | ( |
) | ( |
) |
At 29th September 2024 |
DEPRECIATION |
At 30th September 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 29th September 2024 |
NET BOOK VALUE |
At 29th September 2024 |
At 29th September 2023 |
6. | STOCKS |
2024 | 2023 |
£ | £ |
Raw materials |
Work-in-progress |
Bootyman Printers Limited (Registered number: 02733554) |
Notes to the Financial Statements - continued |
for the year ended 29th September 2024 |
7. | DEBTORS |
2024 | 2023 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
Tax |
Deferred tax asset |
Accelerated capital allowances | 3,288 | 1,531 |
Amounts falling due after more than one year: |
Intercompany with |
Northland Private Equity Ltd |
Aggregate amounts |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other loans |
Hire purchase contracts (see note 10) |
Trade creditors |
Corporation tax |
Social security and other taxes |
Other creditors |
Factoring advances | 744,903 | 834,513 |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Other loans - 2-5 years |
Redeemable preference shares | 10,000 | 10,000 |
Bootyman Printers Limited (Registered number: 02733554) |
Notes to the Financial Statements - continued |
for the year ended 29th September 2024 |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
Included in other creditors are 10,000 6% cumulative redeemable preference shares of £1 each. The 6% cumulative redeemable preference shares have no fixed date for redemption. The shareholders have waived their rights to dividends for the twenty one years ended 30th September 2023 on the cumulative redeemable preference shares and these amounts have therefore not been provided. |
The rights attached to the preference shares are as follows: |
Dividend: | The holders of the preference shares are entitled to a cumulative dividend equal to 6% per share per annum in priority to any dividend paid in respect of the ordinary shares. |
Voting rights on Redemption/Winding up: |
The preference shares shall not entitle the holders thereof to receive notice of or | attend or vote at any annual general meeting of the company unless: |
a) | at the date of the notice convening the meeting the dividend on the preference shares is more than six months in arrears in which case they shall be entitled to receive notice of and to attend and vote at all annual general meetings held before the payment of such arrears; |
b) | the business of the meeting includes the consideration of a resolution for: |
(i) Winding up the company or reducing its share capital; or |
(ii) The sale of the undertaking of the company; or |
(iii) Altering the objects of the company; or |
(iv) Varying or abrogating any of the special rights or privileges attached to the | preference shares; |
in which case they shall be entitled to vote on any such resolution, but on no other | resolution proposed at the meeting. |
The preference shares in issue have no set redemption date. |
On a winding up, the assets of the company, after the payment of all creditors, shall | be applied first in paying the holders of the preference the holders of the preference | shares £1 per preference share together with arrears, deficiency or accruals of | dividend which remains unpaid in priority to the ordinary shareholders. |
10. | LEASING AGREEMENTS |
Minimum lease payments fall due as follows: |
Hire purchase | contracts |
2024 | 2023 |
£ | £ |
Net obligations repayable: |
Within one year |
Non-cancellable | operating leases |
2024 | 2023 |
£ | £ |
Within one year |
Bootyman Printers Limited (Registered number: 02733554) |
Notes to the Financial Statements - continued |
for the year ended 29th September 2024 |
11. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Hire purchase contracts | - | 45,630 |
The other creditors which are secured are subject to a deed of priority in favour of the factoring company referred to in note 8. |
12. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £1 | 15,000 | 15,000 |
13. | PENSION COMMITMENTS |
The company makes payments into a defined contribution scheme for the benefit of its directors and employees. The assets of the scheme are separately administered by its trustees. Contributions are charged to the profit and loss account when they fall due. The charge for the year amounted to £22,540 (2023 £21,221). At the year end there were outstanding pension contributions totalling £4,786 (2023 £4,440). |