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Pardy & Son (Printers) Limited

Annual Report and Unaudited Financial Statements
Year Ended 31 August 2024

Registration number: 04150239

 

Pardy & Son (Printers) Limited

Contents

Balance Sheet

1 to 2

Notes to the Financial Statements

3 to 7

 

Pardy & Son (Printers) Limited

Balance Sheet

31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

48,572

74,899

Current assets

 

Stocks

6

28,915

29,376

Debtors

7

349,281

391,163

Cash at bank and in hand

 

226,483

264,573

 

604,679

685,112

Creditors: Amounts falling due within one year

8

(491,114)

(414,064)

Net current assets

 

113,565

271,048

Total assets less current liabilities

 

162,137

345,947

Creditors: Amounts falling due after more than one year

8

(59,634)

(125,615)

Provisions for liabilities

(6,782)

(14,002)

Net assets

 

95,721

206,330

Capital and reserves

 

Called up share capital

14,993

14,993

Capital redemption reserve

39,751

39,751

Profit and loss account

40,977

151,586

Shareholders' funds

 

95,721

206,330

 

Pardy & Son (Printers) Limited

Balance Sheet

31 August 2024

For the financial year ending 31 August 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 20 December 2024 and signed on its behalf by:
 

.........................................
T Beech
Director

Company Registration Number: 04150239

 

Pardy & Son (Printers) Limited

Notes to the Financial Statements

Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1a Parkside
Ringwood
Hampshire
BH24 3SF

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 including Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements have been prepared using £ sterling and have been rounded to the nearest whole pound.

Group accounts not prepared

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of printing and associated services and materials in the ordinary course of the company's activities. Turnover is shown net of sales and value added tax.

The company recognises revenue when the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each activity.

Tax

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Pardy & Son (Printers) Limited

Notes to the Financial Statements

Year Ended 31 August 2024

Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leasehold property

Over period of lease

Plant and machinery

Straight line over 5, 10 or 15 years

Fixtures and fittings

Straight line over 15 years

Motor vehicles

25% on reducing balance

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows: The directors believe that the purchased goodwill has a useful life of 20 years.

Asset class

Amortisation method and rate

Goodwill

Straight line over 20 years

Investments

Investments in subsidiary undertakings are stated at cost less provision for impairment in value arising from an annual review.

Stocks

Stock and work in progress are valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Pardy & Son (Printers) Limited

Notes to the Financial Statements

Year Ended 31 August 2024

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.


 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 16 (2023 - 16).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 September 2023

3,005,642

3,005,642

At 31 August 2024

3,005,642

3,005,642

Amortisation

At 1 September 2023

3,005,642

3,005,642

At 31 August 2024

3,005,642

3,005,642

Carrying amount

At 31 August 2024

-

-

 

Pardy & Son (Printers) Limited

Notes to the Financial Statements

Year Ended 31 August 2024

5

Tangible assets

Leasehold improvements
£

Fixtures and fittings
 £

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 September 2023

71,937

14,783

17,330

637,703

741,753

Additions

-

-

14,500

968

15,468

Disposals

-

-

(17,330)

-

(17,330)

At 31 August 2024

71,937

14,783

14,500

638,671

739,891

Depreciation

At 1 September 2023

71,937

12,944

14,632

567,341

666,854

Charge for the year

-

350

2,187

36,935

39,472

Eliminated on disposal

-

-

(15,007)

-

(15,007)

At 31 August 2024

71,937

13,294

1,812

604,276

691,319

Carrying amount

At 31 August 2024

-

1,489

12,688

34,395

48,572

At 31 August 2023

-

1,839

2,698

70,362

74,899

6

Stocks

2024
£

2023
£

Other inventories

28,915

29,376

7

Debtors

2024
£

2023
£

Trade debtors

249,875

297,021

Prepayments

39,743

29,166

Other debtors

59,663

64,976

349,281

391,163

 

Pardy & Son (Printers) Limited

Notes to the Financial Statements

Year Ended 31 August 2024

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

 

Loans and borrowings

160,704

155,553

Trade creditors

 

263,207

188,558

Taxation and social security

 

45,265

40,572

Other creditors

 

21,938

29,381

 

491,114

414,064

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

 

Loans and borrowings

59,634

125,615

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £3,833 (2023 - £3,833).