Company Registration No. 04151026 (England and Wales)
FORMULA PRINT LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
FORMULA PRINT LTD
COMPANY INFORMATION
Directors
P Birkinshaw
G McDonnell
Secretary
P Birkinshaw
Company number
04151026
Registered office
1 Pickering Street
Armley
Leeds
LS12 2QG
Accountants
Calvert Dawson Ltd
288 Oxford Road
Gomersal
Cleckheaton
West Yorkshire
BD19 4PY
FORMULA PRINT LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
FORMULA PRINT LTD
BALANCE SHEET
AS AT
31 JANUARY 2025
31 January 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
110,665
56,611
Current assets
Stocks
1,500
1,500
Debtors
4
272,849
278,706
Cash at bank and in hand
32,440
649
306,789
280,855
Creditors: amounts falling due within one year
5
(257,759)
(278,593)
Net current assets
49,030
2,262
Total assets less current liabilities
159,695
58,873
Creditors: amounts falling due after more than one year
6
(65,853)
(11,976)
Provisions for liabilities
(27,666)
(13,498)
Net assets
66,176
33,399
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
66,076
33,299
Total equity
66,176
33,399

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

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

FORMULA PRINT LTD
BALANCE SHEET (CONTINUED)
AS AT
31 JANUARY 2025
31 January 2025
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 30 June 2025 and are signed on its behalf by:
P Birkinshaw
G McDonnell
Director
Director
Company registration number 04151026 (England and Wales)
FORMULA PRINT LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
- 3 -
1
Accounting policies
Company information

Formula Print Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 1 Pickering Street, Armley, Leeds, LS12 2QG.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings
straight line over 10 years
Plant and equipment
20% reducing balance
Fixtures and fittings
25% straight line
Computers
33% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

FORMULA PRINT LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.5
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
11
11
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 February 2024
39,106
667,081
706,187
Additions
-
0
95,500
95,500
Disposals
-
0
(311,236)
(311,236)
At 31 January 2025
39,106
451,345
490,451
Depreciation and impairment
At 1 February 2024
39,106
610,470
649,576
Depreciation charged in the year
-
0
24,481
24,481
Eliminated in respect of disposals
-
0
(294,271)
(294,271)
At 31 January 2025
39,106
340,680
379,786
Carrying amount
At 31 January 2025
-
0
110,665
110,665
At 31 January 2024
-
0
56,611
56,611
FORMULA PRINT LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 5 -
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
123,340
140,357
Other debtors
149,509
138,349
272,849
278,706
5
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
40,085
47,066
Trade creditors
61,612
86,365
Corporation tax
31,075
29,167
Other taxation and social security
103,335
99,136
Other creditors
21,652
16,859
257,759
278,593
6
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
5,853
11,976
Other creditors
60,000
-
0
65,853
11,976
7
Directors' transactions
Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
G McDonnell
2.25
34,021
47,001
(39,564)
41,458
P Birkinshaw
2.25
34,021
47,001
(39,564)
41,458
68,042
94,002
(79,128)
82,916
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