Registered number
05198353
Resource Print Management Limited
Filleted Accounts
31 August 2024
Resource Print Management Limited
Registered number: 05198353
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 536,554 606,724
Current assets
Debtors 4 302,559 283,189
Cash at bank and in hand 221,411 258,899
523,970 542,088
Creditors: amounts falling due within one year 5 (308,385) (313,318)
Net current assets 215,585 228,770
Total assets less current liabilities 752,139 835,494
Creditors: amounts falling due after more than one year 6 (116,418) (197,388)
Provisions for liabilities (96,579) (115,277)
Net assets 539,142 522,829
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 538,142 521,829
Shareholders' funds 539,142 522,829
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
DR Britnell
Director
Approved by the board on 21 October 2024
Resource Print Management Limited
Notes to the Accounts
for the year ended 31 August 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 12 12
3 Tangible fixed assets
Leasehold Improvements Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 September 2023 35,695 634,006 72,796 742,497
Additions - 3,153 - 3,153
At 31 August 2024 35,695 637,159 72,796 745,650
Depreciation
At 1 September 2023 35,695 68,055 32,023 135,773
Charge for the year - 66,823 6,500 73,323
At 31 August 2024 35,695 134,878 38,523 209,096
Net book value
At 31 August 2024 - 502,281 34,273 536,554
At 31 August 2023 - 565,951 40,773 606,724
4 Debtors 2024 2023
£ £
Trade debtors 279,123 255,956
Shareholders loan accounts 13,772 17,520
Other debtors 9,664 9,713
302,559 283,189
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,620 10,897
Obligations under finance lease and hire purchase contracts 45,012 18,912
Trade creditors 116,409 110,154
Amounts owed to associated undertakings 47,529 113,749
Taxation and social security costs 67,580 39,055
Other creditors 21,235 20,551
308,385 313,318
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 7,639 17,496
Obligations under finance lease and hire purchase contracts 108,779 179,892
116,418 197,388
7 Other information
Resource Print Management Limited is a private company limited by shares and incorporated in England. Its registered office is:
The Old Star
Church Street
Princes Risborough
Bucks
HP27 9AA
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