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Company registration number: 03304180
Screenprint & Display Limited
Unaudited filleted financial statements
31 December 2024
THE BARKER PARTNERSHIP
Chartered Accountants
Thirsk
Screenprint & Display Limited
Contents
Directors and other information
Accountants report
Balance sheet
Notes to the financial statements
Screenprint & Display Limited
Directors and other information
Director Mr D M Willis
Secretary D M Willis
Company number 03304180
Registered office 17 Central Buildings
Market Place
Thirsk
North Yorkshire
YO7 1HD
Business address Shires Bridge Mill
York Road
Easingwold
York
YO61 3EQ
Accountants The Barker Partnership
17 Central Buildings
Market Place
Thirsk
North Yorkshire
YO7 1HD
Screenprint & Display Limited
Chartered accountants report to the director on the preparation of the
unaudited statutory financial statements of Screenprint & Display Limited
Year ended 31 December 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Screenprint & Display Limited for the year ended 31 December 2024 which comprise the Balance sheet and 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 at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the director of Screenprint & Display Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Screenprint & Display Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Screenprint & Display Limited and its director as a body for our work or for this report.
It is your duty to ensure that Screenprint & Display 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 profit of Screenprint & Display Limited. You consider that Screenprint & Display 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 Screenprint & Display 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.
The Barker Partnership
Chartered Accountants
17 Central Buildings
Market Place
Thirsk
North Yorkshire
YO7 1HD
3 April 2025
Screenprint & Display Limited
Balance sheet
31 December 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 171,606 421,603
_______ _______
171,606 421,603
Current assets
Stocks 54,952 52,284
Debtors 6 172,290 162,374
Cash at bank and in hand 403,235 154,072
_______ _______
630,477 368,730
Creditors: amounts falling due
within one year 7 ( 166,745) ( 167,559)
_______ _______
Net current assets 463,732 201,171
_______ _______
Total assets less current liabilities 635,338 622,774
Creditors: amounts falling due
after more than one year 8 ( 27,618) ( 31,637)
Provisions for liabilities ( 31,383) ( 39,781)
_______ _______
Net assets 576,337 551,356
_______ _______
Capital and reserves
Called up share capital 40,000 40,000
Profit and loss account 536,337 511,356
_______ _______
Shareholders funds 576,337 551,356
_______ _______
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges 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 Profit and loss account has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 03 April 2025 , and are signed on behalf of the board by:
Mr D M Willis
Director
Company registration number: 03304180
Screenprint & Display Limited
Notes to the financial statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 17 Central Buildings, Market Place, Thirsk, North Yorkshire, YO7 1HD.
The principal activity of the company continues to be the design and printing of artwork by screen and digital printing process.
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
Basis of preparation
The financial statements have been prepared on the historical cost basis.The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
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.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
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:
Plant and equipment - 20 % reducing balance
Fittings fixtures and equipment - 20 % reducing balance
Motor vehicles - 25 % 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.
Investment property
Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal ateach reporting date.
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 stocks to their present location and condition.
Hire purchase and finance leases
Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period over the period of the lease.
Provisions
Provisions are recognised 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 recognised as a liability in the Balance sheet and the amount of the 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 recognised are recognised in profit or loss unless the provision was originally recognised 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 recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 19 (2023: 19 ).
5. Tangible assets
Investment property Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £ £
Cost
At 1 January 2024 205,386 556,826 66,568 73,995 902,775
Additions - - 2,375 - 2,375
Disposals ( 205,386) ( 1,684) ( 1,657) - ( 208,727)
_______ _______ _______ _______ _______
At 31 December 2024 - 555,142 67,286 73,995 696,423
_______ _______ _______ _______ _______
Depreciation
At 1 January 2024 - 421,196 44,945 15,031 481,172
Charge for the year - 27,047 4,634 14,741 46,422
Disposals - ( 1,291) ( 1,486) - ( 2,777)
_______ _______ _______ _______ _______
At 31 December 2024 - 446,952 48,093 29,772 524,817
_______ _______ _______ _______ _______
Carrying amount
At 31 December 2024 - 108,190 19,193 44,223 171,606
_______ _______ _______ _______ _______
At 31 December 2023 205,386 135,630 21,623 58,964 421,603
_______ _______ _______ _______ _______
6. Debtors
2024 2023
£ £
Trade debtors 89,971 121,655
Other debtors 82,319 40,719
_______ _______
172,290 162,374
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 69,365 70,586
Corporation tax 51,727 14,784
Social security and other taxes 34,332 34,053
Other creditors 11,321 48,136
_______ _______
166,745 167,559
_______ _______
Included within other creditors is £4,019 relating to HP's secured against the assets they relate to (2023 - £40,206).
8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Other creditors 27,618 31,637
_______ _______
Included within other creditors is £27,618 relating to HP's secured against the assets they relate to (2023 - £31,637).
9. Related party transactions
At the year end an amount of £70,412 (2023: £34,909) was owed from DM Willis in respect of his director's current account.