Registration number:
Scantech Lithographic Limited
for the Year Ended 30 September 2024
Scantech Lithographic Limited
Contents
Company Information |
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Directors' Report |
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Profit and Loss Account and Statement of Retained Earnings |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
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iXBRL Detailed Profit and Loss Account |
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Accountants' Report |
Scantech Lithographic Limited
Company Information
Directors |
NP Stephens CP Stephens A Pither |
Company secretary |
A Pither |
Registered office |
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Accountants |
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Scantech Lithographic Limited
Directors' Report for the Year Ended 30 September 2024
The directors present their report and the financial statements for the year ended 30 September 2024.
Directors of the company
The directors who held office during the year were as follows:
Principal activity
The principal activity of the company is printing.
Small companies provision statement
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the
......................................... |
Scantech Lithographic Limited
Profit and Loss Account and Statement of Retained Earnings for the Year Ended 30 September 2024
Note |
2024 |
2023 |
|
Turnover |
|
|
|
Cost of sales |
( |
( |
|
Gross profit |
|
|
|
Administrative expenses |
( |
( |
|
Other operating income |
|
|
|
Operating loss |
( |
( |
|
Other interest receivable and similar income |
|
|
|
Interest payable and similar charges |
( |
( |
|
(57,064) |
(86,634) |
||
Loss before tax |
( |
( |
|
Taxation |
|
|
|
Loss for the financial year |
( |
( |
|
Retained earnings brought forward |
(397,319) |
(248,583) |
|
Retained earnings carried forward |
(451,953) |
(397,319) |
The above results were derived from continuing operations.
The company has no recognised gains or losses for the year other than the results above.
Scantech Lithographic Limited
(Registration number: 03123143)
Balance Sheet as at 30 September 2024
Note |
2024 |
2023 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Investments |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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|
|
|
|
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
|
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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|
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Capital and reserves |
|||
Called up share capital |
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|
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Share premium reserve |
|
|
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Retained earnings |
( |
( |
|
Shareholders' funds |
|
|
For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
|
• |
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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Scantech Lithographic Limited
(Registration number: 03123143)
Balance Sheet as at 30 September 2024
Approved and authorised by the
......................................... |
Scantech Lithographic Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
United Kingdom
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 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
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.
The presentation currency of the financial statements is the Pound Sterling (£).
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
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 of the company's activities.
Tax
The tax expense for the period comprises current and deferred 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 income 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.
Scantech Lithographic Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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.
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 |
Land and buildings |
2% straight line. Improvements at 15% straight line |
Furniture, fittings and equipment |
15% - 33% straight line |
Motor vehicles |
25% straight line |
Plant and machinery |
10% straight line |
Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
Goodwill
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.
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:
Asset class |
Amortisation method and rate |
5 years straight line |
Scantech Lithographic Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised at the transaction price, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised at the transaction price.
Borrowings
Scantech Lithographic Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Loss before tax |
Arrived at after charging/(crediting)
2024 |
2023 |
|
Depreciation expense |
|
|
Amortisation expense |
- |
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Scantech Lithographic Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024
Intangible assets |
Goodwill |
Other intangible assets |
Total |
|
Cost or valuation |
|||
At 1 October 2023 |
|
|
|
At 30 September 2024 |
|
|
|
Amortisation |
|||
At 1 October 2023 |
|
- |
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At 30 September 2024 |
|
- |
|
Carrying amount |
|||
At 30 September 2024 |
- |
|
|
At 30 September 2023 |
- |
|
|
Scantech Lithographic Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024
Tangible assets |
Land and buildings |
Furniture, fittings and equipment |
Motor vehicles |
Other tangible assets |
Total |
|
Cost or valuation |
|||||
At 1 October 2023 |
|
|
|
|
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Additions |
- |
|
- |
|
|
Disposals |
- |
( |
( |
( |
( |
At 30 September 2024 |
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|
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Depreciation |
|||||
At 1 October 2023 |
|
|
|
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Charge for the year |
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|
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Eliminated on disposal |
- |
( |
( |
( |
( |
At 30 September 2024 |
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|
|
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Carrying amount |
|||||
At 30 September 2024 |
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|
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At 30 September 2023 |
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Included within the net book value of land and buildings above is £28,248 (2023 - £35,423) in respect of short leasehold land and buildings.
Scantech Lithographic Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024
Investments |
2024 |
2023 |
|
Investments in subsidiaries |
|
|
Subsidiaries |
£ |
Cost or valuation |
|
At 1 October 2023 |
|
Provision |
|
Carrying amount |
|
At 30 September 2024 |
|
At 30 September 2023 |
|
Stocks |
2024 |
2023 |
|
Work in progress |
|
|
Finished goods and goods for resale |
|
|
|
|
Scantech Lithographic Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024
Debtors |
2024 |
2023 |
|
Trade debtors |
|
|
Prepayments |
- |
|
Other debtors |
|
|
|
|
Scantech Lithographic Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024
Creditors |
Creditors: amounts falling due within one year
Note |
2024 |
2023 |
|
Due within one year |
|||
Bank loans and overdrafts |
|
|
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Trade creditors |
|
|
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
|
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Taxation and social security |
|
|
|
Accruals and deferred income |
|
|
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Other creditors |
|
|
|
|
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Creditors: amounts falling due after more than one year
Note |
2024 |
2023 |
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Due after one year |
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Loans and borrowings |
|
|
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Deferred income |
|
|
|
|
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Loans and borrowings |
Non-current loans and borrowings
2024 |
2023 |
|
Bank borrowings |
|
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Hire purchase contracts |
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|
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Current loans and borrowings
2024 |
2023 |
|
Bank borrowings |
|
|
Hire purchase contracts |
|
|
|
|
Scantech Lithographic Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024
Obligations under leases and hire purchase contracts |
Operating leases
The total of future minimum lease payments is as follows:
2024 |
2023 |
|
Not later than one year |
|
|
Later than one year and not later than five years |
|
|
|
|
The amount of non-cancellable operating lease payments recognised as an expense during the year was £
Scantech Lithographic Limited
iXBRL Detailed Profit and Loss Account for the Year Ended 30 September 2024
2024 |
2023 |
|
Turnover/revenue |
|
|
Cost of sales |
||
Opening work in progress |
( |
( |
Opening finished goods |
( |
( |
Opening stock/inventories |
( |
( |
Purchase of raw materials and consumables |
( |
( |
Closing work in progress |
|
|
Closing finished goods |
|
|
Closing stock/inventories |
|
|
Depreciation of Fixed assets |
( |
( |
Freight and haulage costs |
( |
( |
Other staff costs |
( |
( |
Wages and salaries excluding directors |
( |
( |
Social security costs excluding directors |
( |
( |
Other staff costs excluding directors |
( |
( |
Staff costs excluding directors |
( |
( |
Salaries and fees, directors |
( |
( |
Social security costs, directors |
( |
( |
Other staff costs, directors |
( |
( |
Staff costs, directors |
( |
( |
Subcontractor costs |
( |
( |
Other operational and administration costs |
( |
( |
Gross profit |
844,030 |
688,669 |
Distribution costs |
||
Administrative expenses |
||
Audit and accountancy other services |
( |
( |
Advertising, promotions and marketing costs |
( |
( |
Client entertaining costs |
( |
( |
Rent, rates and services costs |
( |
( |
Utilities costs |
( |
( |
Operating lease expenditure |
( |
( |
Other repairs and maintenance costs |
( |
( |
Cleaning costs |
( |
( |
Scantech Lithographic Limited
iXBRL Detailed Profit and Loss Account for the Year Ended 30 September 2024
2024 |
2023 |
|
Depreciation of Fixed assets |
( |
( |
Amortisation of intangible assets |
- |
( |
Vehicle costs |
( |
( |
Other staff costs |
( |
( |
Wages and salaries excluding directors |
( |
( |
Social security costs excluding directors |
( |
( |
Other staff costs excluding directors |
( |
( |
Staff costs excluding directors |
( |
( |
Salaries and fees, directors |
( |
( |
Social security costs, directors |
( |
( |
Other staff costs, directors |
( |
( |
Staff costs, directors |
( |
( |
Travel and subsistence |
( |
( |
Training |
- |
( |
Staff entertaining |
( |
( |
Legal and professional costs |
( |
( |
Bank charges |
( |
( |
Insurance costs |
( |
( |
IT and computing |
( |
( |
Telecommunications |
( |
( |
Printing, postage and stationery |
( |
( |
Charitable donations |
( |
- |
Subscriptions |
( |
( |
Other operational and administration costs |
( |
( |
Other operating income |
||
Other operating income |
|
|
Other items |
||
(Loss)/gain from disposal of Fixed assets |
( |
|
Loss on ordinary activities before finance charges and interest |
(17,330) |
(71,786) |
Bank interest and similar income receivable |
|
|
Interest expense on bank overdraft, bank loans and similar borrowings |
( |
( |
Non-bank interest and similar charges |
( |
( |
Interest expense on obligations under finance leases and hire purchase contracts |
( |
( |
Loss on ordinary activities before taxation |
( |
( |
Scantech Lithographic Limited
iXBRL Detailed Profit and Loss Account for the Year Ended 30 September 2024
2024 |
2023 |
|
Tax on profit or loss on ordinary activities |
|
|
Loss for the financial year |
( |
( |
Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Scantech Lithographic Limited
for the Year Ended 30 September 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Scantech Lithographic Limited for the year ended 30 September 2024 as set out on pages 3 to 15 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/regulation.
This report is made solely to the Board of Directors of Scantech Lithographic 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 accounts of Scantech Lithographic Limited and state those matters that we have agreed to state to the Board of Directors of Scantech Lithographic Limited, 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 Scantech Lithographic Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Scantech Lithographic Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Scantech Lithographic Limited. You consider that Scantech Lithographic 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 accounts of Scantech Lithographic 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 accounts.
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Heathfield
East Sussex
TN21 8LS