REGISTERED NUMBER: |
Welland Print Limited |
Unaudited Financial Statements |
for the Year Ended 31 December 2024 |
REGISTERED NUMBER: |
Welland Print Limited |
Unaudited Financial Statements |
for the Year Ended 31 December 2024 |
Welland Print Limited (Registered number: 04335492) |
Contents of the Financial Statements |
for the Year Ended 31 December 2024 |
Page |
Chartered accountants' report | 1 |
Statement of financial position | 2 |
Notes to the financial statements | 4 |
Chartered Accountants' Report to the Director |
on the Unaudited Financial Statements of |
Welland Print Limited |
The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of financial position. Readers are cautioned that the Income statement and certain other primary statements and the Director's report are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Welland Print Limited for the year ended 31 December 2024 which comprise the Statement of income and retained earnings, Statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the director of Welland Print Limited in accordance with the terms of our engagement letter dated 23 May 2019. Our work has been undertaken solely to prepare for your approval the financial statements of Welland Print Limited and state those matters that we have agreed to state to the director of Welland Print Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Welland Print Limited and its director for our work or for this report. |
It is your duty to ensure that Welland Print Limited 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 loss of Welland Print Limited. You consider that Welland Print Limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of Welland Print Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Bank House |
Broad Street |
Spalding |
Lincolnshire |
PE11 1TB |
Welland Print Limited (Registered number: 04335492) |
Statement of Financial Position |
31 December 2024 |
2024 | 2023 |
Notes | £ | £ | £ |
Fixed assets |
Tangible assets | 5 |
Current assets |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
Creditors |
Amounts falling due within one year | 7 |
Net current assets |
Total assets less current liabilities |
Provisions for liabilities |
Net assets |
Capital and reserves |
Called up share capital | 9 |
Capital redemption reserve |
Retained earnings |
Shareholders' funds |
The director acknowledges his 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. |
Welland Print Limited (Registered number: 04335492) |
Statement of Financial Position - continued |
31 December 2024 |
The financial statements were approved by the director and authorised for issue on |
Welland Print Limited (Registered number: 04335492) |
Notes to the Financial Statements |
for the Year Ended 31 December 2024 |
1. | Statutory information |
Welland Print Limited is a |
Registered number: |
Registered office: |
The presentation currency of the financial statements is the Pound Sterling (£). |
The company's business address is West Marsh Road, Spalding, Lincolnshire, PE11 2BB |
2. | Statement of compliance |
3. | Accounting policies |
Basis of preparing the financial statements |
Revenue recognition |
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and VAT. |
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life. |
Plant and machinery - 25% reducing balance method |
Motor vehicles - 25% reducing balance method |
Office equipment - 25% reducing balance method |
Impairment of fixed assets |
The carrying values of tangible fixed assets are reviewed for impairment annually by the directors without valuing the assets. Where the aggregate value of those assets is less than the aggregate that they are stated in the company's accounts, a provision will be made for any material impairment. |
Stocks |
Stocks are measured at the lower of cost and estimated selling price less costs to complete and |
sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing |
the stock to its present location and condition. |
Welland Print Limited (Registered number: 04335492) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2024 |
3. | Accounting policies - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
Defined contribution plans |
Contributions to defined contribution plans are recongised as an expense in the period in which the related service is provided. Prepaid contributions are recongised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. |
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recongised as a finance cost in profit or loss in the period in which it arises. |
Provisions |
Provisions are recongised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recongised as a liability in the statement of financial position and the amount of provision as an expense. |
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recongised are recongised in profit or loss unless the provision was originally recongised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recongised as a finance cost in profit or loss in the period it arises. |
Operating leases |
Lease payments are recongised as an expenses over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recongised as a reduction to expense over the lease term, on a straight-line basis. |
4. | Employees and directors |
The average number of employees during the year was |
Welland Print Limited (Registered number: 04335492) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2024 |
5. | Tangible fixed assets |
Plant and | Motor | Office |
machinery | vehicles | equipment | Totals |
£ | £ | £ | £ |
Cost |
At 1 January 2024 |
Additions |
At 31 December 2024 |
Depreciation |
At 1 January 2024 |
Charge for year |
At 31 December 2024 |
Net book value |
At 31 December 2024 |
At 31 December 2023 |
6. | Debtors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Trade debtors |
Directors' current accounts | 120 | 60 |
Tax |
VAT |
Deferred tax asset |
Prepayments and accrued income |
7. | Creditors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Trade creditors |
Social security and other taxes |
Other creditors |
Accruals and deferred income |
8. | Leasing agreements |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2024 | 2023 |
£ | £ |
Within one year |
Between one and five years |
Welland Print Limited (Registered number: 04335492) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2024 |
8. | Leasing agreements - continued |
Minimum lease payments include £75,500 (2023 £113,250) secured against all property of the company. |
9. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary B shares | £1 | 250 | 500 |
Ordinary D shares | £1 | 250 | - |
500 | 500 |