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COMPANY REGISTRATION NUMBER: 08941382
Eight Days A Week Print Solutions (Holdings) Limited
Filleted Unaudited Financial Statements
31 December 2024
Eight Days A Week Print Solutions (Holdings) Limited
Statement of Financial Position
31 December 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
35,410
46,269
Investments
6
150,623
--------
---------
35,410
196,892
Current assets
Debtors
7
277,368
593,400
Cash at bank and in hand
791,461
688,631
------------
------------
1,068,829
1,282,031
Creditors: amounts falling due within one year
8
190,982
5,756
------------
------------
Net current assets
877,847
1,276,275
---------
------------
Total assets less current liabilities
913,257
1,473,167
Provisions
3,399
5,349
---------
------------
Net assets
909,858
1,467,818
---------
------------
Capital and reserves
Called up share capital
9
623
623
Profit and loss account
909,235
1,467,195
---------
------------
Shareholders funds
909,858
1,467,818
---------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Eight Days A Week Print Solutions (Holdings) Limited
Statement of Financial Position (continued)
31 December 2024
These financial statements were approved by the board of directors and authorised for issue on 23 April 2025 , and are signed on behalf of the board by:
Mr L Hill
Director
Company registration number: 08941382
Eight Days A Week Print Solutions (Holdings) Limited
Notes to the Financial Statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 3B Swallowfield Courtyard, Wolverhampton Road, Oldbury, B692JG, West Midlands.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Disclosure exemptions
The entity satisfies the criteria of being a small entity as defined in FRS102 and section 382 of the Companies Act 2006 and has taken advantage of the disclosure exemptions available under paragraph 1A.7 of FRS102.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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 is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
10% straight line
Motor vehicles
-
25% reducing balance
Computer equipment
-
25% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
This includes the officers of the company.
5. Tangible assets
Plant and machinery
Motor vehicles
Computer equipment
Total
£
£
£
£
Cost
At 1 January 2024 and 31 December 2024
100,922
13,795
26,386
141,103
---------
--------
--------
---------
Depreciation
At 1 January 2024
57,722
10,726
26,386
94,834
Charge for the year
10,092
767
10,859
---------
--------
--------
---------
At 31 December 2024
67,814
11,493
26,386
105,693
---------
--------
--------
---------
Carrying amount
At 31 December 2024
33,108
2,302
35,410
---------
--------
--------
---------
At 31 December 2023
43,200
3,069
46,269
---------
--------
--------
---------
6. Investments
Shares in group undertakings
£
Cost
At 1 January 2024
150,623
Disposals
( 150,623)
---------
At 31 December 2024
---------
Impairment
At 1 January 2024 and 31 December 2024
---------
Carrying amount
At 31 December 2024
---------
At 31 December 2023
150,623
---------
On 25 October 2024 as part of a group restructure, the 95% shareholding the company previously held in Eight Days A Week Print Solutions Limited was transferred to 8ight Group Limited by way of a dividend in specie.
As at the 31 December 2024, the company held no investments.
7. Debtors
2024
2023
£
£
Amounts owed by group undertakings
250,895
515,527
Amounts owed by related parties
60,000
Prepayments and accrued income
8,600
Other debtors
17,873
17,873
---------
---------
277,368
593,400
---------
---------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to related parties
140,000
Corporation tax
4,774
Social security and other taxes
982
982
Director loan accounts
50,000
---------
-------
190,982
5,756
---------
-------
9. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
623
623
623
623
----
----
----
----
10. Director's advances, credits and guarantees
During the year, Mr L Hill loaned the company £50,000. This amount is still outstanding at the year end.
11. Related party transactions
Eight Days A Week Print Solutions Limited During the year the company made sales of £19,646 (2023: £20,628) to Eight Days A Week Print Solutions Limited, a company in which Mr L Hill is also a director. At the year end there is an amount of £250,895 (2023: £515,527) included within amounts owed by group undertakings. 8ight Plus Limited At the year end there is an amount of £nil (2023: £60,000) included within amounts owed by related parties and £140,000 (2023: £nil) included within amounts owed to related parties in relation to 8ight Plus Limited, a company in which Mr L Hill is also a director and shareholder.
12. Ultimate controlling party
The company's immediate parent company is 8ight Print Solutions Limited. From the 25 October 2024, following a group restructure, the ultimate parent company is 8ight Group Limited. Prior to the 25 October 2024, the ultimate parent company was 8ight Print Solutions Limited. Both 8ight Print Solutions Limited and 8ight Group Limited are registered in England and Wales, and registered office address of both entities is 3B Swallowfield Courtyard, Wolverhampton Road, Oldbury, West Midlands, B69 2JG. The ultimate controlling party is considered to be Mr L Hill by virtue of his directorship and shareholding in the ultimate parent company.