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COMPANY REGISTRATION NUMBER: 07332583
Bamford Print Limited
Filleted Unaudited Financial Statements
31 August 2024
Bamford Print Limited
Statement of Financial Position
31 August 2024
2024
2023
Note
£
£
£
Fixed Assets
Tangible assets
5
131,131
99,140
Current Assets
Stocks
1,000
1,000
Debtors
6
55,199
65,671
Cash at bank and in hand
33,706
29,939
--------
--------
89,905
96,610
Creditors: amounts falling due within one year
7
112,218
91,299
---------
--------
Net Current (Liabilities)/Assets
( 22,313)
5,311
---------
---------
Total Assets Less Current Liabilities
108,818
104,451
Creditors: amounts falling due after more than one year
8
20,947
25,669
---------
---------
Net Assets
87,871
78,782
---------
---------
Capital and Reserves
Called up share capital
100
100
Profit and loss account
87,771
78,682
--------
--------
Shareholders Funds
87,871
78,782
--------
--------
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 statement of income and retained earnings has not been delivered.
For the 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Bamford Print Limited
Statement of Financial Position (continued)
31 August 2024
These financial statements were approved by the board of directors and authorised for issue on 19 May 2025 , and are signed on behalf of the board by:
Mrs A Bamford
Mr K Bamford
Director
Director
Company registration number: 07332583
Bamford Print Limited
Notes to the Financial Statements
Year Ended 31 August 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 Unit 5, Cowburn Street, Heywood, Lancashire, OL10 2AJ.
2. Statement of Compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting Policies
Basis of Preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
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 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.
Tangible Assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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 machinery
-
15% reducing balance
Fixtures and fittings
-
15% reducing balance
Vehicles
-
25% reducing balance
Equipment
-
15% reducing balance
In the opinion of the director's the value of plant and machinery is in excess of the cost and no depreciation policy has been applied.
Impairment of Fixed Assets
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 at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
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.
Financial Instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity. Compound instruments Compound instruments comprise both a liability and an equity component. At date of issue, the fair value of the liability component is estimated using the prevailing market interest rate for a similar debt instrument. The liability component is accounted for as a financial liability. The residual is the difference between the net proceeds of issue and the liability component (at time of issue). The residual is the equity component, which is accounted for as an equity instrument. The interest expense on the liability component is calculated applying the effective interest rate for the liability component of the instrument. The difference between this amount and any repayments is added to the carrying amount of the liability in the balance sheet.
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. 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 recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee Numbers
The average number of persons employed by the company during the year amounted to 8 (2023: 8 ).
5. Tangible Assets
Plant and machinery
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1 September 2023
223,335
2,810
19,659
21,804
267,608
Additions
53,500
2,933
56,433
---------
-------
--------
--------
---------
At 31 August 2024
276,835
2,810
19,659
24,737
324,041
---------
-------
--------
--------
---------
Depreciation
At 1 September 2023
145,663
2,041
8,601
12,163
168,468
Charge for the year
19,676
115
2,765
1,886
24,442
---------
-------
--------
--------
---------
At 31 August 2024
165,339
2,156
11,366
14,049
192,910
---------
-------
--------
--------
---------
Carrying amount
At 31 August 2024
111,496
654
8,293
10,688
131,131
---------
-------
--------
--------
---------
At 31 August 2023
77,672
769
11,058
9,641
99,140
---------
-------
--------
--------
---------
6. Debtors
2024
2023
£
£
Trade debtors
55,199
65,671
--------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
6,000
6,000
Trade creditors
38,991
23,463
Social security and other taxes
7,438
7,934
Other creditors
59,789
53,902
---------
--------
112,218
91,299
---------
--------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
20,947
25,669
--------
--------
9. Directors' Advances, Credits and Guarantees
Balance bought forward £53,552 Net movement £5,887 Balance carried forward £59,439
10. Related Party Transactions
During the year, a dividend of £12,000 was paid to the Directors (2023 £8,000)