Registered number
05945255
PRINTSTORE (88) LIMITED
Filleted Abridged Accounts
30 September 2024
PRINTSTORE (88) LIMITED
Registered number: 05945255
Abridged Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 60,000 90,000
Tangible assets 4 1,050,627 951,658
1,110,627 1,041,658
Current assets
Stocks 34,856 40,994
Debtors 3,122,744 3,119,609
Cash at bank and in hand 50,859 75,637
3,208,459 3,236,240
Creditors: amounts falling due within one year (901,183) (854,293)
Net current assets 2,307,276 2,381,947
Total assets less current liabilities 3,417,903 3,423,605
Creditors: amounts falling due after more than one year (561,471) (762,322)
Provisions for liabilities (32,544) (32,544)
Net assets 2,823,888 2,628,739
Capital and reserves
Called up share capital 103 103
Revaluation reserve 6 850,000 850,000
Profit and loss account 1,973,785 1,778,636
Shareholder's funds 2,823,888 2,628,739
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.
Mr. P Andreou
Director
Approved by the board on 26 June 2025
PRINTSTORE (88) LIMITED
Notes to the Abridged Accounts
for the year ended 30 September 2024
1 Accounting policies
Basis of preparation
The abridged 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Leasehold land and buildings nil
Plant and machinery 25% Reducing balance
Fixtures, fittings, tools and equipment 25% Reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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 6 7
3 Intangible fixed assets £
Goodwill:
Cost
At 1 October 2023 600,000
At 30 September 2024 600,000
Amortisation
At 1 October 2023 510,000
Provided during the year 30,000
At 30 September 2024 540,000
Net book value
At 30 September 2024 60,000
At 30 September 2023 90,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Total
£
Cost
At 1 October 2023 1,547,921
Additions 108,097
At 30 September 2024 1,656,018
Depreciation
At 1 October 2023 596,263
Charge for the year 9,128
At 30 September 2024 605,391
Net book value
At 30 September 2024 1,050,627
At 30 September 2023 951,658
5 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 851,153 1,116,110
The bank loan are secured on the company's assets.
6 Revaluation reserve 2024 2023
£ £
At 1 October 2023 850,000 850,000
At 30 September 2024 850,000 850,000
7 Related party transactions
Printstore (88) Limited has availed of the exemptions in FRS 102 Section 33, Paragraph 33.1A which allows non-disclosure of transactions between two or more members of a group, provided that any subsidiary which is party to the transaction is wholly owned by such a member.
8 Other information
PRINTSTORE (88) LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
18 The Broadway
East Lane
Wembley
Middlesex
HA9 8JU
PRINTSTORE (88) LIMITED 05945255 false 2023-10-01 2024-09-30 2024-09-30 VT Final Accounts April 2025 Mr. P Andreou No description of principal activity 05945255 2022-10-01 2023-09-30 05945255 core:WithinOneYear 2023-09-30 05945255 core:AfterOneYear 2023-09-30 05945255 core:ShareCapital 2023-09-30 05945255 core:OtherReservesSubtotal 2023-09-30 05945255 core:RetainedEarningsAccumulatedLosses 2023-09-30 05945255 core:RevaluationReserve 2022-09-30 05945255 2023-10-01 2024-09-30 05945255 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 05945255 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 05945255 bus:Director40 2023-10-01 2024-09-30 05945255 1 2023-10-01 2024-09-30 05945255 2 2023-10-01 2024-09-30 05945255 core:Goodwill 2023-10-01 2024-09-30 05945255 countries:England 2023-10-01 2024-09-30 05945255 bus:FRS102 2023-10-01 2024-09-30 05945255 bus:AbridgedAccounts 2023-10-01 2024-09-30 05945255 2024-09-30 05945255 core:WithinOneYear 2024-09-30 05945255 core:AfterOneYear 2024-09-30 05945255 core:ShareCapital 2024-09-30 05945255 core:OtherReservesSubtotal 2024-09-30 05945255 core:RetainedEarningsAccumulatedLosses 2024-09-30 05945255 core:Goodwill 2024-09-30 05945255 core:RevaluationReserve 2024-09-30 05945255 2023-09-30 05945255 core:Goodwill 2023-09-30 05945255 core:RevaluationReserve 2023-09-30 iso4217:GBP xbrli:pure