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Company No: 04440951 (England and Wales)

KCS TRADE PRINT LIMITED

Unaudited Financial Statements
For the financial year ended 30 September 2024
Pages for filing with the registrar

KCS TRADE PRINT LIMITED

Unaudited Financial Statements

For the financial year ended 30 September 2024

Contents

KCS TRADE PRINT LIMITED

BALANCE SHEET

As at 30 September 2024
KCS TRADE PRINT LIMITED

BALANCE SHEET (continued)

As at 30 September 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 7,241 12,069
Tangible assets 4 619,517 697,649
626,758 709,718
Current assets
Stocks 5 255,709 247,907
Debtors 6 813,464 878,610
Cash at bank and in hand 580,037 630,814
1,649,210 1,757,331
Creditors: amounts falling due within one year 7 ( 482,665) ( 616,946)
Net current assets 1,166,545 1,140,385
Total assets less current liabilities 1,793,303 1,850,103
Creditors: amounts falling due after more than one year 8 ( 165,949) ( 219,014)
Provision for liabilities ( 84,768) ( 101,996)
Net assets 1,542,586 1,529,093
Capital and reserves
Called-up share capital 9 12 12
Share premium account 16,999 16,999
Profit and loss account 1,525,575 1,512,082
Total shareholders' funds 1,542,586 1,529,093

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:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of KCS Trade Print Limited (registered number: 04440951) were approved and authorised for issue by the Board of Directors on 27 March 2025. They were signed on its behalf by:

Z A Jones
Director
KCS TRADE PRINT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
KCS TRADE PRINT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
1. Accounting policies

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.

General information and basis of accounting

KCS Trade Print 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 Unit 1 Southgate Technology Park, Pennygillam Way, Pennygillam Ind Est Launceston, PL15 7ED, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, 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 £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

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 value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when the amount of review 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.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 5 years straight line
Computer software 3 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Land and buildings 20 years straight line
Plant and machinery 5 - 10 years straight line
Fixtures and fittings 3 - 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 22 22

3. Intangible assets

Goodwill Computer software Total
£ £ £
Cost
At 01 October 2023 27,000 14,483 41,483
At 30 September 2024 27,000 14,483 41,483
Accumulated amortisation
At 01 October 2023 27,000 2,414 29,414
Charge for the financial year 0 4,828 4,828
At 30 September 2024 27,000 7,242 34,242
Net book value
At 30 September 2024 0 7,241 7,241
At 30 September 2023 0 12,069 12,069

4. Tangible assets

Land and buildings Plant and machinery Fixtures and fittings Total
£ £ £ £
Cost
At 01 October 2023 104,490 2,177,250 217,120 2,498,860
Additions 0 14,184 69,431 83,615
Disposals 0 ( 67,391) ( 6,541) ( 73,932)
At 30 September 2024 104,490 2,124,043 280,010 2,508,543
Accumulated depreciation
At 01 October 2023 26,728 1,576,370 198,113 1,801,211
Charge for the financial year 5,225 147,222 9,300 161,747
Disposals 0 ( 67,391) ( 6,541) ( 73,932)
At 30 September 2024 31,953 1,656,201 200,872 1,889,026
Net book value
At 30 September 2024 72,537 467,842 79,138 619,517
At 30 September 2023 77,762 600,880 19,007 697,649

5. Stocks

2024 2023
£ £
Stocks 255,709 247,907

6. Debtors

2024 2023
£ £
Trade debtors 314,430 443,156
Amounts owed by Group undertakings 398,116 372,888
Other debtors 100,918 62,566
813,464 878,610

7. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans (secured) 50,000 50,000
Trade creditors 303,803 410,591
Accruals and deferred income 50,269 117,687
Taxation and social security 78,593 38,668
482,665 616,946

Bank loans are secured by way of a fixed and floating charge over all the assets of the company.

8. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans (secured) 62,500 112,500
Other creditors 103,449 106,514
165,949 219,014

Bank loans are secured by way of a fixed and floating charge over all the assets of the company.

9. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
60 Ordinary A shares of £ 0.10 each 6 6
60 Ordinary B shares of £ 0.10 each 6 6
12 12

10. Related party transactions

Transactions with owners holding a participating interest in the entity

2024 2023
£ £
Pennygillam Print Holdings Limited 398,116 372,888

During the year, the company provided working capital by way of an interest free inter-company loan. At the year end the company was owed £398,116 by PPH (2023 - £372,888).

11. Off Balance Sheet arrangements

The total amount of financial commitments not included in the balance sheet is £276,346 (2023 - £321,233). The commitments relate to operating leases.