Company No:
Contents
DIRECTORS | Mr Richard Lockyer |
Mrs Sally Lockyer |
SECRETARY | Mrs Sally Lockyer |
REGISTERED OFFICE | Windrush House |
Avenue Two | |
Station Lane Industrial Estate | |
Witney | |
Oxfordshire | |
OX28 4XW | |
United Kingdom |
COMPANY NUMBER | 05836883 (England and Wales) |
ACCOUNTANT | Shaw Gibbs Limited |
264 Banbury Road | |
Oxford | |
OX2 7DY | |
United Kingdom |
Note | 2024 | 2023 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 5 |
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Investment property | 6 |
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955,573 | 964,062 | |||
Current assets | ||||
Stocks |
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Debtors | 7 |
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Cash at bank and in hand |
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102,246 | 117,971 | |||
Creditors: amounts falling due within one year | 8 | (
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Net current liabilities | (137,911) | (86,387) | ||
Total assets less current liabilities | 817,662 | 877,675 | ||
Creditors: amounts falling due after more than one year | 9 | (
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Provision for liabilities | (
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Net assets |
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Capital and reserves | ||||
Called-up share capital | 10 |
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Profit and loss account |
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Total shareholders' funds |
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Directors' responsibilities:
These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Windrush Press Limited (registered number:
Mr Richard Lockyer
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Windrush Press Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Windrush House, Avenue Two, Station Lane Industrial Estate, Witney, OX28 4XW, Witney, United Kingdom.
The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.
Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement 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.
Goodwill |
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For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases
Land and buildings | not depreciated |
Plant and machinery etc. |
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The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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Goodwill | Total | ||
£ | £ | ||
Cost | |||
At 01 July 2023 |
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At 30 June 2024 |
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Accumulated amortisation | |||
At 01 July 2023 |
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At 30 June 2024 |
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Net book value | |||
At 30 June 2024 |
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At 30 June 2023 |
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Land and buildings | Plant and machinery etc. | Total | |||
£ | £ | £ | |||
Cost | |||||
At 01 July 2023 |
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Additions |
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At 30 June 2024 |
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Accumulated depreciation | |||||
At 01 July 2023 |
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Charge for the financial year |
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At 30 June 2024 |
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Net book value | |||||
At 30 June 2024 |
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At 30 June 2023 |
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Investment property | |
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Valuation | |
As at 01 July 2023 |
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As at 30 June 2024 |
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The directors believe this is a fair valuation of the property at the date of the accounts
2024 | 2023 | ||
£ | £ | ||
Trade debtors |
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Prepayments |
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2024 | 2023 | ||
£ | £ | ||
Bank loans and overdrafts |
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Trade creditors |
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Amounts owed to directors |
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Accruals |
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Corporation tax |
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Other taxation and social security |
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Other creditors |
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2024 | 2023 | ||
£ | £ | ||
Bank loans |
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Amounts owed to directors |
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Obligations under finance leases and hire purchase contracts |
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2024 | 2023 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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Commitments
2024 | 2023 | ||
£ | £ | ||
Total future minimum lease payments under non-cancellable operating lease |
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Other financial commitments
During the year director remunerations of £17,680 (2023: £18,020) and dividends totalling £61,600 (2023: £63,600) were paid to directors.
At the year end the company owed the directors £155,090. (2023: £186,650).
2024 | 2023 | ||
£ | £ | ||
Bank loans | (517,336) | (50,583) | |
Bank overdrafts | (84,958) | (8,254) | |
Other loans | (115,090) | (146,650) | |
(717,384) | (205,487) |
Amounts due within one year £123,780 (2023: £54,765). Amounts due after one year £593,604 (2023: 652,225)
The long-term loans are secured by fixed charges over the assets of the company.