| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 |
| FOR |
| THE PRINT UNIT LIMITED |
| T/A |
| FINE PRINT |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 |
| FOR |
| THE PRINT UNIT LIMITED |
| T/A |
| FINE PRINT |
| THE PRINT UNIT LIMITED (REGISTERED NUMBER: 03091780) |
| T/A FINE PRINT |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 AUGUST 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Chartered Accountants' Report | 9 |
| THE PRINT UNIT LIMITED |
| T/A FINE PRINT |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 AUGUST 2024 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 2nd Floor |
| 10(b) Aldermans Hill |
| Palmers Green |
| London |
| N13 4PJ |
| THE PRINT UNIT LIMITED (REGISTERED NUMBER: 03091780) |
| T/A FINE PRINT |
| BALANCE SHEET |
| 31 AUGUST 2024 |
| 31.8.24 | 31.8.23 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 10 | ( |
) | ( |
) |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 11 |
| Retained earnings | 12 | ( |
) | ( |
) |
| 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. |
| THE PRINT UNIT LIMITED (REGISTERED NUMBER: 03091780) |
| T/A FINE PRINT |
| BALANCE SHEET - continued |
| 31 AUGUST 2024 |
| The financial statements were approved by the director and authorised for issue on |
| THE PRINT UNIT LIMITED (REGISTERED NUMBER: 03091780) |
| T/A FINE PRINT |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 AUGUST 2024 |
| 1. | STATUTORY INFORMATION |
| The Print Unit Limited is a private company, limited by shares, registered in England and Wales. The company 's registered number is 03091780 and registered office address is 49 Hillgrove Business Park, Nazeing Road, Nazeing EN9 2HB. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents net invoiced sales of goods and services, excluding value added tax. |
| Tangible fixed assets |
| Land and buildings | - |
| Plant and machinery etc | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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. |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
| THE PRINT UNIT LIMITED (REGISTERED NUMBER: 03091780) |
| T/A FINE PRINT |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 AUGUST 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Going concern |
| The directors have considered the working capital position of the company and future working capital requirements, including any impact from the ongoing conflict in Ukraine and high interest rates in the UK and are satisfied that the company will be able to meet its liabilities as they fall due for a period of not less than one year from date of approval of these financial statements. |
| The Company is taking all the steps it can to protect the future of the business. Although the total impact is still uncertain the director believes that it is appropriate to prepare the accounts on a going concern basis. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| COST |
| At 1 September 2023 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 August 2024 |
| DEPRECIATION |
| At 1 September 2023 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 August 2024 |
| NET BOOK VALUE |
| At 31 August 2024 |
| At 31 August 2023 |
| THE PRINT UNIT LIMITED (REGISTERED NUMBER: 03091780) |
| T/A FINE PRINT |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 AUGUST 2024 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 September 2023 |
| and 31 August 2024 |
| DEPRECIATION |
| At 1 September 2023 |
| Charge for year |
| At 31 August 2024 |
| NET BOOK VALUE |
| At 31 August 2024 |
| At 31 August 2023 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.8.24 | 31.8.23 |
| £ | £ |
| Trade debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.8.24 | 31.8.23 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts (see note 8) |
| Trade creditors |
| Tax |
| VAT | 15,992 | 13,875 |
| Accrued expenses |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.8.24 | 31.8.23 |
| £ | £ |
| Bank loans 2 ,1-2 years | 14,729 | 25,250 |
| Bank loans 2 , 2-5 years | - | 14,729 |
| Hire purchase contracts (see note 8) |
| Director's loan account |
| Other creditors - Robert | 18,000 | 18,000 |
| THE PRINT UNIT LIMITED (REGISTERED NUMBER: 03091780) |
| T/A FINE PRINT |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 AUGUST 2024 |
| 8. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Hire purchase contracts |
| 31.8.24 | 31.8.23 |
| £ | £ |
| Gross obligations repayable: |
| Within one year |
| Between one and five years |
| Finance charges repayable: |
| Within one year |
| Between one and five years |
| Net obligations repayable: |
| Within one year |
| Between one and five years |
| Non-cancellable operating | leases |
| 31.8.24 | 31.8.23 |
| £ | £ |
| Within one year |
| Between one and five years |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 31.8.24 | 31.8.23 |
| £ | £ |
| Bank overdrafts |
| Hire purchase contracts | 6,600 | 13,200 |
| 10. | PROVISIONS FOR LIABILITIES |
| 31.8.24 | 31.8.23 |
| £ | £ |
| Deferred tax |
| Accelerated capital allowances |
| THE PRINT UNIT LIMITED (REGISTERED NUMBER: 03091780) |
| T/A FINE PRINT |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 AUGUST 2024 |
| 10. | PROVISIONS FOR LIABILITIES - continued |
| Deferred |
| tax |
| £ |
| Balance at 1 September 2023 |
| Credit to Income Statement during year | ( |
) |
| Balance at 31 August 2024 |
| 11. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.8.24 | 31.8.23 |
| value: | £ | £ |
| Ordinary | £1 | 2 | 2 |
| 12. | RESERVES |
| Retained |
| earnings |
| £ |
| At 1 September 2023 | ( |
) |
| Deficit for the year | ( |
) |
| At 31 August 2024 | ( |
) |
| 13. | RELATED PARTY DISCLOSURES |
| The Print Unit Limited rents premises from Gremesty Properties Ltd, a connected company by virtue of having Mr F. Gremesty as director and shareholder in common. Rent is charged at market rates. |
| 14. | GUARANTEE |
| The Print Unit Limited has provided a Bank Guarantee to Lloyds bank in relation to a bank loan given to Gremesty Properties Ltd, a connected company, by virtue of having Mr F. Gremesty as director and shareholder in common. |
| 15. | DIRECTORS' LOAN ACCOUNT |
| Included in Creditors - amounts falling due after more than one year is a loan of £212,668 (2023: 242,396) due to the Director. This loan is recognised at transaction price. The director's loan is not due until after more than 1 year and is interest free. |
| 16. | GOING CONCERN |
| The Financial Statements have been prepared on a going concern basis. The company has Net Liabilities of £84,244 (2023: £20,989). The director has restructured the business and is confident that in the future the results will improve, strengthening the company's Balance Sheet.The director has also provided assurances that he will continue supporting the company. |
| CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR |
| ON THE UNAUDITED FINANCIAL STATEMENTS OF |
| THE PRINT UNIT 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 Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director 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 The Print Unit Limited for the year ended 31 August 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity 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 The Print Unit Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of The Print Unit Limited and state those matters that we have agreed to state to the director of The Print Unit 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 The Print Unit Limited and its director for our work or for this report. |
| It is your duty to ensure that The Print Unit 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 The Print Unit Limited. You consider that The Print Unit 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 The Print Unit 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. |
| Chartered Accountants |
| 2nd Floor |
| 10(b) Aldermans Hill |
| Palmers Green |
| London |
| N13 4PJ |