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Financial Statements
Northside Graphics Limited
For the Year Ended 31 August 2024





































Registered number: NI021265

 
Northside Graphics Limited
 

Company Information


Directors
R Campbell (appointed 23 May 2024)
A Mills (appointed 23 May 2024)




Company secretary
A Mills (appointed 22 May 2025)



Registered number
NI021265



Registered office
Units 5-6 Round Tower Development
Dargan Crescent

Belfast

BT3 9JP




Independent auditors
Grant Thornton (NI) LLP
Chartered Accountants & Statutory Auditor

12-15 Donegall Square West

Belfast

BT1 6JH




Bankers
HSBC Bank plc
25-29 Royal Avenue

Belfast

BT1 1FB





 
Northside Graphics Limited
 

Contents



Page
Independent auditors' report
1 - 4
Balance sheet
5 - 6
Statement of changes in equity
7
Notes to the financial statements
8 - 19

 
 
img43dd.png
 
Independent auditors' report to the members of Northside Graphics Limited
 

Opinion


We have audited the financial statements of Northside Graphics Limited, which comprise  the Balance sheet, the Statement of changes in equity for the financial year ended 31 August 2024, and the related notes to the financial statements, including a summary of  significant accounting policies.  

The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).


In our opinion, Northside Graphics Limited's financial statements:


give a true and fair view in accordance with United Kingdom Generally Accepted Accounting Practice of the assets, liabilities and financial position of the Company as at 31 August 2024 and of its financial performance for the financial year then ended; and


have been prepared in accordance with the requirements of the Companies Act 2006.



Basis for opinion


We conducted our audit in accordance with International Standards on Auditing (UK) ('ISAs (UK)') and applicable law. Our responsibilities under those standards are further described in the 'Responsibilities of the auditor for the audit of the financial statements' section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, namely the FRC's Ethical Standard and the ethical pronouncements established by Chartered Accountants Ireland, applied as determined to be appropriate in the circumstances of the entity. We have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.


Conclusions relating to going concern



In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from the date when the financial statements are authorised for issue.

Our responsibilities, and the responsibilities of the directors, with respect to going concern are described in the relevant sections of this report.
Page 1

 
 
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Independent auditors' report to the members of Northside Graphics Limited (continued)


Other information


Other information comprises the information included in the Annual Report, other than the financial statements and our Auditors' report thereon, including the Directors' report. The directors are responsible for the other information. Our opinion on the financial statements does not cover the information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.


In connection with our audit of the financial statementsour responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies in the financial statements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.


We have nothing to report in this regard.


Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:
the information given in the Directors' report  for the financial year for which the financial statements are prepared is consistent with the financial statements, and 
the Directors' report  has been prepared in accordance with applicable legal requirements. 


Matters on which we are required to report by exception


In the light of the knowledge and understanding of the Company and its environment we have obtained in the course of the audit, we have not identified material misstatements in the  Directors' report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

the financial statements are not in agreement with the accounting records and returns; or

certain disclosures of directors' remuneration specified by law are not made; or

we have not received all the information and explanations we require for our audit; or

the directors were not entitled to take advantage of the small companies' exemptions from the  requirement to prepare a strategic report or in preparing the Directors' report.

Page 2

 
 
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Independent auditors' report to the members of Northside Graphics Limited (continued)


Responsibilities of management and those charged with governance for the financial statements
 

Management is responsible for the preparation of the financial statements which give a true and fair view in accordance with United Kingdom Generally Accepted Accounting Practice, including FRS102 and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
 
In preparing the financial statements, management is responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intend to liquidate the Company or to cease operations, or has no realistic alternative but to do so.


Those charged with governance are responsible for overseeing the Company's financial reporting process.

Responsibilities of the auditor for the audit of the financial statements
 

The objectives of an auditor are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes their opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

A further description of an auditor's responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatement in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with ISAs (UK).

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below:

Based on our understanding of the Company and industry, we identified that the principal risks of non-compliance with laws and regulations related to Employment Law, Environmental Regulations and Health and safety laws, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as Companies Act 2006 and applicable tax laws. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to manipulate financial performance and management bias through judgments and assumptions in significant accounting estimates, in particular in relation to significant one-off or unusual transactions.
 
Page 3

 
 
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Independent auditors' report to the members of Northside Graphics Limited (continued)


We apply professional scepticism through the audit to consider potential deliberate omission or concealment of significant transactions, or incomplete/inaccurate disclosures in the financial statements.
In response to these principal risks, our audit procedures included but were not limited to:
inquiries of management on the policies and procedures in place regarding compliance with laws and regulations, including consideration of known or suspected instances of non-compliance and whether they have knowledge of any actual, suspected or alleged fraud;
inspection of the Company’s regulatory and legal correspondence and review of minutes of the board of directors meetings during the year to corroborate inquiries made;
gaining an understanding of the internal controls established to mitigate risk related to fraud;
discussion amongst the engagement team in relation to the identified laws and regulations and regarding the risk of fraud, and remaining alert to any indications of non—compliance or opportunities for fraudulent manipulation of financial statements throughout the audit;
identifying and testing journal entries to address the risk of inappropriate journals and management override of controls;
designing audit procedures to incorporate unpredictability around the nature, timing or extent of our testing;
challenging assumptions and judgments made by management in their significant accounting estimates, including estimating useful lives of intangible and tangible fixed assets, estimating an allowance for the impairment of stock and estimating an allowance for the impairment of trade debtors; and
review of the financial statement disclosures to underlying supporting documentation and inquiries of management.

The primary responsibility for the prevention and detection of irregularities including fraud rests with those charged with governance and management. As with any audit, there remains a risk of non-detection or irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations or override of internal controls.


The purpose of our audit work and to whom we owe our responsibilities
 

This report is made solely to the Company’s members, as a body, in accordance with chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company’s members as a body, for our audit work, for this report, or for the opinions we have formed.


 
 
Louise Kelly (Senior statutory auditor)
for and on behalf of
Grant Thornton (NI) LLP
Chartered Accountants
Statutory Auditor
Belfast
31 July 2025
Page 4

 
Northside Graphics Limited
Registered number:NI021265

Balance sheet
As at 31 August 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 5 
662,216
23,496

Tangible fixed assets
 6 
734,034
951,885

  
1,396,250
975,381

Current assets
  

Stocks
 7 
181,191
178,789

Debtors: amounts falling due within one year
 8 
1,606,019
512,036

Cash at bank and in hand
 9 
953,945
1,296,538

  
2,741,155
1,987,363

Current liabilities
  

Creditors: amounts falling due within one year
 10 
(1,163,700)
(1,513,185)

Net current assets
  
 
 
1,577,455
 
 
474,178

Total assets less current liabilities
  
2,973,705
1,449,559

Creditors: amounts falling due after more than one year
 11 
(175,319)
(159,000)

Provisions for liabilities
  

Deferred tax
 13 
(147,273)
(166,199)

  
 
 
(147,273)
 
 
(166,199)

Accruals and deferred income
 14 
(87,061)
(122,640)

Net assets
  
2,564,052
1,001,720


Capital and reserves
  

Called up share capital 
 15 
38,462
38,462

Profit and loss account
 16 
2,525,590
963,258

Shareholders' funds
  
2,564,052
1,001,720


Page 5

 
Northside Graphics Limited
Registered number:NI021265

Balance sheet (continued)
As at 31 August 2024

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 31 July 2025.



Andrew Mills
Director

The notes on pages 8 to 19 form part of these financial statements.
Page 6

 
Northside Graphics Limited
 

Statement of changes in equity
For the Year Ended 31 August 2024


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 September 2023
38,462
963,258
1,001,720



Profit for the year
-
1,562,332
1,562,332


At 31 August 2024
38,462
2,525,590
2,564,052


The notes on pages 8 to 19 form part of these financial statements.


Statement of changes in equity
For the Year Ended 31 August 2023


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 September 2022
38,462
892,318
930,780



Profit for the year
-
1,817,631
1,817,631

Dividends: Equity capital
-
(1,746,691)
(1,746,691)


At 31 August 2023
38,462
963,258
1,001,720


The notes on pages 8 to 19 form part of these financial statements.
Page 7

 
Northside Graphics Limited
 
 
Notes to the financial statements
For the Year Ended 31 August 2024

1.


General information

Northside Graphics Limited is a private company limited by shares, incorporated in Northern Ireland. Its registered office is Units 5-6 Round Tower Development, Dargan Crescent, Belfast, BT3 9JP.
The principal activity of the Company is that of a digital printing company.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

 
2.2

Going concern

After reviewing the Company’s forecasts and projections, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. The Company therefore continues to adopt the going concern basis in preparing its financial statements.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 8

 
Northside Graphics Limited
 

Notes to the financial statements
For the Year Ended 31 August 2024

2.Accounting policies (continued)

 
2.4

Revenue recognition

Revenue represents amounts invoiced with respect to printing services to customers, and excludes Value Added Tax. Revenue is recognised upon delivery of services to the customer.

 
2.5

Operating leases

Rental income from operating leases is credited to profit or loss on a straight-line basis over the lease term.

 
2.6

Leased assets

Where assets leased to a third party give rights approximating to ownership (finance lease), the lessor recognises as a receivable an amount equal to the net investment in the lease i.e. the minimum lease payments receivable under the lease discounted at the interest rate implicit in the lease. This receivable is reduced as the lessee makes capital payments over the term of the lease.

A finance lease gives rise to two types of income: profit or loss equivalent to the profit or loss resulting from outright sale of the asset being leased, at normal selling prices, reflecting any applicable discounts, and finance income over the lease term.

 
2.7

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

 
2.8

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.9

 Pensions

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 payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 9

 
Northside Graphics Limited
 

Notes to the financial statements
For the Year Ended 31 August 2024

2.Accounting policies (continued)

 
2.10

 Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.11

 Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of comprehensive income over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Domain name
-
20 years
Website & E-commerce platform
-
5 years
Goodwill
-
10 years

Page 10

 
Northside Graphics Limited
 

Notes to the financial statements
For the Year Ended 31 August 2024

2.Accounting policies (continued)

 
2.12

 Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

L/Term Leasehold Property
-
10% Straight Line
Plant & machinery
-
15% - 20% Straight Line
Fixtures & fittings
-
25% - 33% Straight Line

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 disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.13

 Impairment of assets

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.
If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

 
2.14

 Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. At each balance sheet date, 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 profit or loss.

 
2.15

 Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 11

 
Northside Graphics Limited
 

Notes to the financial statements
For the Year Ended 31 August 2024

2.Accounting policies (continued)

 
2.16

 Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.17

 Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

  
2.18

 Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

 
2.19

 Financial instruments

The Company only 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.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Page 12

 
Northside Graphics Limited
 

Notes to the financial statements
For the Year Ended 31 August 2024

2.Accounting policies (continued)

 
2.20

 Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

In applying the Company's accounting policies, the directors are required to make significant judgments, estimates and assumptions in determining the carrying amounts of assets and liabilities. The directors' judgments, estimates and assumptions are based on the best and most reliable evidence available at the time when the decisions are made, and are based on historical experience and other factors that are considered to be applicable. Due to the inherent subjectivity involved in making such judgments, estimates and assumptions, the actual results and outcomes may differ.  The items in the financial statements where these judgment and estimates have been made include:
Estimating the useful lives of intangible and tangible fixed assets
The Company estimates the useful lives of intangible and tangible fixed assets based on the period over which the assets are expected to be available for use. The estimated useful lives are reviewed periodically and are updated if expectations differ from previous estimates due to physical wear and tear, technical or commercial obsolescence and legal or other limits on the use of those assets.
Estimating an allowance for the impairment of stock
Management evaluates the realisability of inventory on a case by case basis and makes adjustments to the inventory provision based on an analysis of the historical usage on individual inventory items.
Estimating an allowance for the impairment of trade debtors
The directors estimate the allowance for doubtful trade debtors based on an assessment of specific accounts where the directors have objective evidence, comprising a default in payment terms or significant financial difficulty, that certain customers are unable to meet their financial obligations.


4.


Employees

The average monthly number of employees, including directors, during the year was 74 (2023 - 72).

Page 13

 
Northside Graphics Limited
 
 
Notes to the financial statements
For the Year Ended 31 August 2024

5.


Intangible assets



Domain name
Website & E-commerce platform
Goodwill
Total

£
£
£
£



Cost


At 1 September 2023
9,950
-
103,848
113,798


Additions
500,000
-
-
500,000


Adjustment
(2,261)
-
(3,052)
(5,313)


Transfer
-
518,957
-
518,957



At 31 August 2024

507,689
518,957
100,796
1,127,442



Amortisation


At 1 September 2023
7,690
-
82,612
90,302


Charge for the year
6,250
-
8,104
14,354


Transfer
-
360,570
-
360,570



At 31 August 2024

13,940
360,570
90,716
465,226



Net book value



At 31 August 2024
493,749
158,387
10,080
662,216



At 31 August 2023
2,260
-
21,236
23,496



Page 14

 
Northside Graphics Limited
 
 
Notes to the financial statements
For the Year Ended 31 August 2024

6.


Tangible fixed assets





L/Term Leasehold Property
Plant & machinery
Fixtures & fittings
Total

£
£
£
£



Cost or valuation


At 1 September 2023
237,378
1,733,474
639,317
2,610,169


Additions
27,158
143,392
44,023
214,573


Disposals
-
-
(740)
(740)


Transfer
-
-
(518,957)
(518,957)



At 31 August 2024

264,536
1,876,866
163,643
2,305,045



Depreciation


At 1 September 2023
152,219
1,096,688
409,377
1,658,284


Charge for the year
19,301
171,236
83,500
274,037


Disposals
-
-
(740)
(740)


Transfer
-
-
(360,570)
(360,570)



At 31 August 2024

171,520
1,267,924
131,567
1,571,011



Net book value



At 31 August 2024
93,016
608,942
32,076
734,034



At 31 August 2023
85,159
636,786
229,940
951,885

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Plant and machinery
315,564
278,188

315,564
278,188

Page 15

 
Northside Graphics Limited
 
 
Notes to the financial statements
For the Year Ended 31 August 2024

7.


Stocks

2024
2023
£
£

Raw materials and consumables
181,191
178,789

181,191
178,789


The replacement cost of stock did not differ significant from the figures shown.


8.


Debtors

2024
2023
£
£


Trade debtors
422,616
355,027

Amounts owed by related parties
1,008,401
19,721

Prepayments and accrued income
175,002
137,288

1,606,019
512,036


Amounts owed by related parties are unsecured, interest free and repayable on demand.


9.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
953,945
1,296,538

953,945
1,296,538

Page 16

 
Northside Graphics Limited
 
 
Notes to the financial statements
For the Year Ended 31 August 2024

10.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
804,546
741,528

Amounts owed to related parties
-
45,103

Corporation tax
10,962
416,985

Other taxation and social security
92,465
120,786

Obligations under finance lease and hire purchase contracts
90,523
74,311

Other creditors
5,166
6,257

Accruals and deferred income
160,038
108,215

1,163,700
1,513,185


Trade and other creditors are repayable at various dates over the coming months in accordance with the suppliers' usual and customary credit terms.
Corporation tax and other taxes, including social insurance, are repayable at various dates over the coming months in accordance with the applicable statutory provisions.
Assets held under finance leases and hire purchase contracts are secured on the assets to which they relate.
Amounts owed to related parties are unsecured, interest free and repayable on demand.


11.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Obligations under finance leases and hire purchase contracts
175,319
159,000



12.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
90,523
74,311

Between 1-5 years
175,319
159,000

265,842
233,311
Page 17

 
Northside Graphics Limited
 
 
Notes to the financial statements
For the Year Ended 31 August 2024

13.


Deferred taxation




2024
2023


£

£






At beginning of year
(166,199)
(155,229)


Charged to profit or loss
18,926
(10,970)



At end of year
(147,273)
(166,199)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(147,273)
(166,199)


14.


Government grants

2024
2023
£
£



Deferred government grants due within one year
35,579
37,578

Deferred government grants due more than one year
87,061
122,640

122,640
160,218


15.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



38,462 (2023 - 38,462) Ordinary shares of £1.00 each
38,462
38,462



16.


Reserves

Share capital

Called up share capital represents the nominal value of shares that have been issued.

Profit & loss account

This includes all current and prior period retained profits and losses.

Page 18

 
Northside Graphics Limited
 
 
Notes to the financial statements
For the Year Ended 31 August 2024

17.


Pension commitments

The Company operates a money purchase pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charged represents the amount of contributions payable to the scheme in respect of the accounting period.


18.


Commitments under operating leases

At 31 August 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
45,533
24,084

Later than 1 year and not later than 5 years
90,184
77,427

135,717
101,511


19.


Related party transactions



2024
2023
£
£

Sales to companies related by common directors
-
133,980
Purchases from companies related by common directors
590,940
33,407
Management charges paid to companies related by common directors
176,976
463,038
Balances owed from companies related by common directors
-
19,721
Balances owed to companies related by common directors
-
45,103


20.


Post balance sheet events

There have been no significant events affecting the Company since the year end.


21.


Controlling party

The immediate parent undertaking is WHCO Laser Bidco Limited a company incorporated and registered in the UK. The ultimate parent undertaking is WHCO Laser Topco Limited a company incorporated and registered in the UK.  The ultimate controlling party is Bestport Ventures LLP, an undertaking registered in the UK.

Page 19