2024-04-012025-03-312025-03-31false04620215FIRPRESS 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FIRPRESS LTD

Registered Number
04620215
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2025

FIRPRESS LTD
Company Information
for the year from 1 April 2024 to 31 March 2025

Directors

BLACK, Kerri
WILLIAMSON, Paul Craig

Company Secretary

BLACK, Kerri

Registered Address

Unit 5a
Buddle Road, Clay Flatts
Industrial, Estate Workington
CA14 3YD

Registered Number

04620215 (England and Wales)
FIRPRESS LTD
Statement of Financial Position
31 March 2025

Notes

2025

2024

£

£

£

£

Fixed assets
Tangible assets448,33583,976
48,33583,976
Current assets
Stocks517,28429,902
Debtors6112,27487,467
Cash at bank and on hand29,7886,355
159,346123,724
Creditors amounts falling due within one year7(147,464)(129,621)
Net current assets (liabilities)11,882(5,897)
Total assets less current liabilities60,21778,079
Creditors amounts falling due after one year8(2,992)(6,581)
Provisions for liabilities10(12,814)(22,254)
Net assets44,41149,244
Capital and reserves
Called up share capital34,00034,000
Profit and loss account10,41115,244
Shareholders' funds44,41149,244
The financial statements were approved and authorised for issue by the Board of Directors on 11 July 2025, and are signed on its behalf by:
BLACK, Kerri
Director
Registered Company No. 04620215
FIRPRESS LTD
Notes to the Financial Statements
for the year ended 31 March 2025

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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/or 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.
Defined contribution pension plan
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in other creditors in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.
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 the Income Statement
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
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.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Goodwill
Goodwill arising on an acquisition of a business is carried at cost less accumulated impairment losses, if any. Goodwill is amortised over its expected useful life which is estimated to be ten years. Goodwill is assessed for impairment when there are indicators of impairment and any impairment is charged to the income statement. No reversals of impairment are recognised.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Plant and machinery-10
Vehicles35-
Office Equipment-5
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Income Statement. Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.
Trade and other 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.
Trade and other 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.
Financial instruments
The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
2.Average number of employees

20252024
Average number of employees during the year1111
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 April 2415,00015,000
At 31 March 2515,00015,000
Amortisation and impairment
At 01 April 2415,00015,000
At 31 March 2515,00015,000
Net book value
At 31 March 25--
At 31 March 24--
4.Tangible fixed assets

Plant & machinery

Vehicles

Fixtures & fittings

Office Equipment

Total

£££££
Cost or valuation
At 01 April 24453,18212,4801,46132,714499,837
Additions---2,3902,390
Disposals---(425)(425)
At 31 March 25453,18212,4801,46134,679501,802
Depreciation and impairment
At 01 April 24374,06612,31762428,854415,861
Charge for year34,916564842,57538,031
On disposals---(425)(425)
At 31 March 25408,98212,3731,10831,004453,467
Net book value
At 31 March 2544,2001073533,67548,335
At 31 March 2479,1161638373,86083,976
5.Stocks

2025

2024

££
Raw materials and consumables15,46515,059
Work in progress1,81914,843
Total17,28429,902
6.Debtors: amounts due within one year

2025

2024

££
Trade debtors / trade receivables102,63871,963
Prepayments and accrued income9,63615,504
Total112,27487,467
7.Creditors: amounts due within one year

2025

2024

££
Trade creditors / trade payables60,78341,930
Bank borrowings and overdrafts-21,661
Taxation and social security63,54341,162
Finance lease and HP contracts3,5893,180
Other creditors6,1046,058
Accrued liabilities and deferred income13,44515,630
Total147,464129,621
8.Creditors: amounts due after one year

2025

2024

££
Other creditors2,9926,581
Total2,9926,581
9.Obligations under finance leases

2025

2024

££
Finance lease and HP contracts6,5819,761
10.Provisions for liabilities

2025

2024

££
Net deferred tax liability (asset)12,81422,254
Total12,81422,254