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REGISTERED NUMBER: SC353954 (Scotland)















Unaudited Financial Statements for the Year Ended 31 December 2024

for

The Lanark Print Company Ltd

The Lanark Print Company Ltd (Registered number: SC353954)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


The Lanark Print Company Ltd

Company Information
for the Year Ended 31 December 2024







DIRECTORS: J D A Douglas
W H McMillan





REGISTERED OFFICE: 116 - 118 North Vennel
Lanark
ML11 7PT





REGISTERED NUMBER: SC353954 (Scotland)





ACCOUNTANTS: ICW Accountancy Ltd
15 St Leonard Street
Lanark
Lanarkshire
ML11 7AB

The Lanark Print Company Ltd (Registered number: SC353954)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,320 2,333

CURRENT ASSETS
Stocks 2,000 2,000
Debtors 5 5,987 10,212
Cash at bank and in hand 12,350 11,025
20,337 23,237
CREDITORS
Amounts falling due within one year 6 19,527 17,655
NET CURRENT ASSETS 810 5,582
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,130

7,915

CREDITORS
Amounts falling due after more than one
year

7

(2,755

)

(6,744

)

PROVISIONS FOR LIABILITIES (446 ) (443 )
NET (LIABILITIES)/ASSETS (71 ) 728

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (73 ) 726
(71 ) 728

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The Lanark Print Company Ltd (Registered number: SC353954)

Balance Sheet - continued
31 December 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 July 2025 and were signed on its behalf by:





J D A Douglas - Director


The Lanark Print Company Ltd (Registered number: SC353954)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

The Lanark Print Company Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

The Lanark Print Company Ltd (Registered number: SC353954)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2024 22,914
Additions 749
Disposals (8,500 )
At 31 December 2024 15,163
DEPRECIATION
At 1 January 2024 20,581
Charge for year 677
Eliminated on disposal (8,415 )
At 31 December 2024 12,843
NET BOOK VALUE
At 31 December 2024 2,320
At 31 December 2023 2,333

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:

Plant and
machinery
etc
£   
COST
At 1 January 2024
and 31 December 2024 11,853
DEPRECIATION
At 1 January 2024 9,743
Charge for year 527
At 31 December 2024 10,270
NET BOOK VALUE
At 31 December 2024 1,583
At 31 December 2023 2,110

The Lanark Print Company Ltd (Registered number: SC353954)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Other debtors 5,987 10,212

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans and overdrafts 4,000 4,000
Trade creditors 594 2,079
Taxation and social security 13,756 11,258
Other creditors 1,177 318
19,527 17,655

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.24 31.12.23
£    £   
Bank loans 2,755 6,744

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

31.12.24 31.12.23
£    £   
J D A Douglas
Balance outstanding at start of year 2,718 7,219
Amounts advanced 25,683 11,923
Amounts repaid (26,562 ) (16,424 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,839 2,718

W H McMillan
Balance outstanding at start of year 2,651 4,418
Amounts advanced 23,538 14,001
Amounts repaid (24,173 ) (15,768 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 2,016 2,651

There is no interest accrued on the balances and no set repayment terms exist. The maximum outstanding at anytime throughout the year was £6,796 (2023: £9,511) on Mr Douglas's account and £6,831 (2023: £7,478) on Mr McMillan's account.