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NW PRESS PICS LTD

Registered Number
NI070140
(Northern Ireland)

Unaudited Financial Statements for the Year ended
31 August 2024

NW PRESS PICS LTD
Company Information
for the year from 1 September 2023 to 31 August 2024

Directors

Deirdre Anne Heaney
Thomas Heaney

Company Secretary

HEANEY, Deirdre Anne

Registered Address

2 Altnafoyle
Springtown Road
Derry City
BT48 0FG

Registered Number

NI070140 (Northern Ireland)
NW PRESS PICS LTD
Statement of Financial Position
31 August 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets312,00014,000
Tangible assets47,6519,564
19,65123,564
Current assets
Debtors1,499-
Cash at bank and on hand3,0032,205
4,5022,205
Creditors amounts falling due within one year(13,307)(15,895)
Net current assets (liabilities)(8,805)(13,690)
Total assets less current liabilities10,8469,874
Creditors amounts falling due after one year(3,984)(6,958)
Net assets6,8622,916
Capital and reserves
Called up share capital22
Profit and loss account6,8602,914
Shareholders' funds6,8622,916
The financial statements were approved and authorised for issue by the Board of Directors on 23 April 2025, and are signed on its behalf by:
Thomas Heaney
Director
Registered Company No. NI070140
NW PRESS PICS LTD
Notes to the Financial Statements
for the year ended 31 August 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Intangible assets
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years. Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows: Goodwill - 10% straight line If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows: Fixtures & Fittings- 20% Reducing Balance
2.Average number of employees

20242023
Average number of employees during the year22
3.Intangible assets

Total

£
Cost or valuation
At 01 September 2320,000
At 31 August 2420,000
Amortisation and impairment
At 01 September 236,000
Charge for year2,000
At 31 August 248,000
Net book value
At 31 August 2412,000
At 31 August 2314,000
4.Tangible fixed assets

Total

£
Cost or valuation
At 01 September 2322,802
At 31 August 2422,802
Depreciation and impairment
At 01 September 2313,238
Charge for year1,913
At 31 August 2415,151
Net book value
At 31 August 247,651
At 31 August 239,564