2 01/08/2023 31/07/2024 2024-07-31 false false false false false false false true false false true false false false false true true false No description of principal activities is disclosed 2023-08-01 Sage Accounts Production 24.0 - FRS102_2024 xbrli:pure xbrli:shares iso4217:GBP NI072681 2023-08-01 2024-07-31 NI072681 2024-07-31 NI072681 2023-07-31 NI072681 2022-08-01 2023-07-31 NI072681 2023-07-31 NI072681 2022-07-31 NI072681 core:NetGoodwill 2023-08-01 2024-07-31 NI072681 core:PlantMachinery 2023-08-01 2024-07-31 NI072681 bus:RegisteredOffice 2023-08-01 2024-07-31 NI072681 bus:LeadAgentIfApplicable 2023-08-01 2024-07-31 NI072681 bus:Director1 2023-08-01 2024-07-31 NI072681 bus:Director2 2023-08-01 2024-07-31 NI072681 bus:CompanySecretary1 2023-08-01 2024-07-31 NI072681 core:WithinOneYear 2024-07-31 NI072681 core:WithinOneYear 2023-07-31 NI072681 core:ShareCapital 2024-07-31 NI072681 core:ShareCapital 2023-07-31 NI072681 core:RetainedEarningsAccumulatedLosses 2024-07-31 NI072681 core:RetainedEarningsAccumulatedLosses 2023-07-31 NI072681 bus:SmallEntities 2023-08-01 2024-07-31 NI072681 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 NI072681 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 NI072681 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 NI072681 bus:AbridgedAccounts 2023-08-01 2024-07-31
Company registration number: NI072681
Absolute Printing Ltd
Unaudited filleted abridged financial statements
31 July 2024
Absolute Printing Ltd
Contents
Directors and other information
Accountant's report
Abridged statement of financial position
Notes to the financial statements
Absolute Printing Ltd
Directors and other information
Directors Wayne Beattie
Kerry Beattie
Secretary Wayne Beattie
Company number NI072681
Registered office 12 Church Street
Dungannon
Co Tyrone
BT71 6AB
Accountant GDP Accountants Ltd
122A Moore Street
Aughnacloy
Co Tyrone
BT69 6AA
Bankers Ulster Bank
39 Market Square
Dungannon
Co Tyrone
BT70 1JJ
Absolute Printing Ltd
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Absolute Printing Ltd
Year ended 31 July 2024
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the financial statements of Absolute Printing Ltd for the year ended 31 July 2024 as set out on pages 5 to 11 from the company's accounting records and from information and explanations you have given me.
As a practising member of the Association of Chartered Certified Accountants , I am subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.
This report is made solely to the board of directors of Absolute Printing Ltd, as a body, in accordance with the terms of my engagement letter dated 5 February 2024. My work has been undertaken solely to prepare for your approval the financial statements of Absolute Printing Ltd and state those matters that we have agreed to state to the board of directors of Absolute Printing Ltd as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than Absolute Printing Ltd and its board of directors as a body for my work or for this report.
It is your duty to ensure that Absolute Printing Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Absolute Printing Ltd. You consider that Absolute Printing Ltd is exempt from the statutory audit requirement for the year.
I have not been instructed to carry out an audit or a review of the financial statements of Absolute Printing Ltd. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.
GDP Accountants Ltd
Chartered Certified Accountants
122A Moore Street
Aughnacloy
Co Tyrone
BT69 6AA
18 April 2025
Absolute Printing Ltd
Abridged statement of financial position
31 July 2024
2024 2023
Note £ £ £ £
Fixed assets
Intangible assets 5 1,000 2,000
Tangible assets 6 106,421 121,917
________ ________
107,421 123,917
Current assets
Stocks 15,000 10,000
Debtors 21,737 34,858
Cash at bank and in hand 27,919 29,009
________ ________
64,656 73,867
Creditors: amounts falling due
within one year ( 139,447) ( 169,815)
________ ________
Net current liabilities ( 74,791) ( 95,948)
________ ________
Total assets less current liabilities 32,630 27,969
Provisions for liabilities ( 26,605) ( 23,164)
________ ________
Net assets 6,025 4,805
________ ________
Capital and reserves
Called up share capital 2 2
Profit and loss account 6,023 4,803
________ ________
Shareholders funds 6,025 4,805
________ ________
For the year ending 31 July 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
All of the members have consented to the preparation of the abridged statement of financial position for the current year ending 31 July 2024 in accordance with Section 444(2A) of the Companies Act 2006.
These financial statements were approved by the board of directors and authorised for issue on 18 April 2025 , and are signed on behalf of the board by:
Kerry Beattie
Director
Company registration number: NI072681
Absolute Printing Ltd
Notes to the financial statements
Year ended 31 July 2024
1. General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 12 Church Street, Dungannon, Co Tyrone, BT71 6AB.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Amortisation
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 assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Machinery and equipment - 15 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Intangible assets
£
Cost
At 1 August 2023 and 31 July 2024 10,000
________
Amortisation
At 1 August 2023 8,000
Charge for the year 1,000
________
At 31 July 2024 9,000
________
Carrying amount
At 31 July 2024 1,000
________
At 31 July 2023 2,000
________
6. Tangible assets
£
Cost
At 1 August 2023 197,338
Additions 3,047
________
At 31 July 2024 200,385
________
Depreciation
At 1 August 2023 75,422
Charge for the year 18,542
________
At 31 July 2024 93,964
________
Carrying amount
At 31 July 2024 106,421
________
At 31 July 2023 121,916
________