30 false false false false false false false false false false true false false false false true true No description of principal activity 2024-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 1,000 1,000 xbrli:pure xbrli:shares iso4217:GBP 06054241 2024-01-01 2024-12-31 06054241 2024-12-31 06054241 2023-12-31 06054241 2023-01-01 2023-12-31 06054241 2023-12-31 06054241 2022-12-31 06054241 core:NetGoodwill 2024-01-01 2024-12-31 06054241 core:LandBuildings core:LongLeaseholdAssets 2024-01-01 2024-12-31 06054241 core:PlantMachinery 2024-01-01 2024-12-31 06054241 core:FurnitureFittings 2024-01-01 2024-12-31 06054241 core:MotorVehicles 2024-01-01 2024-12-31 06054241 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 06054241 bus:OrdinaryShareClass2 2024-01-01 2024-12-31 06054241 bus:Director1 2024-01-01 2024-12-31 06054241 core:WithinOneYear 2024-12-31 06054241 core:WithinOneYear 2023-12-31 06054241 core:NetGoodwill 2024-12-31 06054241 core:LandBuildings core:LongLeaseholdAssets 2023-12-31 06054241 core:PlantMachinery 2023-12-31 06054241 core:FurnitureFittings 2023-12-31 06054241 core:MotorVehicles 2023-12-31 06054241 core:LandBuildings core:LongLeaseholdAssets 2024-12-31 06054241 core:PlantMachinery 2024-12-31 06054241 core:FurnitureFittings 2024-12-31 06054241 core:MotorVehicles 2024-12-31 06054241 core:AfterOneYear 2024-12-31 06054241 core:AfterOneYear 2023-12-31 06054241 core:ShareCapital 2024-12-31 06054241 core:ShareCapital 2023-12-31 06054241 core:RetainedEarningsAccumulatedLosses 2024-12-31 06054241 core:RetainedEarningsAccumulatedLosses 2023-12-31 06054241 core:BetweenOneFiveYears 2024-12-31 06054241 core:AcceleratedTaxDepreciationDeferredTax 2024-12-31 06054241 core:AcceleratedTaxDepreciationDeferredTax 2023-12-31 06054241 core:TaxLossesCarry-forwardsDeferredTax 2024-12-31 06054241 core:ProvisionsDeferredTax 2024-12-31 06054241 core:LandBuildings core:LongLeaseholdAssets 2023-12-31 06054241 core:PlantMachinery 2023-12-31 06054241 core:FurnitureFittings 2023-12-31 06054241 core:MotorVehicles 2023-12-31 06054241 bus:SmallEntities 2024-01-01 2024-12-31 06054241 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 06054241 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 06054241 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 06054241 bus:FullAccounts 2024-01-01 2024-12-31 06054241 bus:OrdinaryShareClass1 2024-12-31 06054241 bus:OrdinaryShareClass1 2023-12-31 06054241 bus:OrdinaryShareClass2 2024-12-31 06054241 bus:OrdinaryShareClass2 2023-12-31 06054241 bus:AllOrdinaryShares 2024-12-31 06054241 bus:AllOrdinaryShares 2023-12-31
COMPANY REGISTRATION NUMBER: 06054241
Eight Days A Week Print Solutions Limited
Filleted Unaudited Financial Statements
31 December 2024
Eight Days A Week Print Solutions Limited
Statement of Financial Position
31 December 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
6
281,563
262,519
Current assets
Stocks
15,000
15,000
Debtors
7
543,838
2,106,302
Cash at bank and in hand
161,613
175,383
---------
------------
720,451
2,296,685
Creditors: amounts falling due within one year
8
817,995
1,730,591
---------
------------
Net current (liabilities)/assets
( 97,544)
566,094
---------
---------
Total assets less current liabilities
184,019
828,613
Creditors: amounts falling due after more than one year
9
91,480
90,203
Provisions
( 45,115)
37,958
---------
---------
Net assets
137,654
700,452
---------
---------
Capital and reserves
Called up share capital
11
948
948
Profit and loss account
136,706
699,504
---------
---------
Shareholders funds
137,654
700,452
---------
---------
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.
Directors' 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 directors acknowledge their 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 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: 06054241
Eight Days A Week Print Solutions 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, B69 2JG, England.
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 and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods 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.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
20% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
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:
Long leasehold property
-
10% straight line
Plant and machinery
-
10% straight line
Fixtures and fittings
-
10% straight line
Motor vehicles
-
20% straight line
Computer equipment
-
25% straight line
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. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
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.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 30 (2023: 30 ).
5. Intangible assets
Goodwill
£
Cost
At 1 January 2024 and 31 December 2024
1,000
-------
Amortisation
At 1 January 2024 and 31 December 2024
1,000
-------
Carrying amount
At 31 December 2024
-------
At 31 December 2023
-------
6. Tangible assets
Long leasehold property
Plant and machinery
Fixtures and fittings
Motor vehicles
Computer equipment
Total
£
£
£
£
£
£
Cost
At 1 Jan 2024
105,043
182,783
2,429
94,319
28,205
412,779
Additions
15,675
41,900
1,397
58,972
---------
---------
-------
---------
--------
---------
At 31 Dec 2024
105,043
198,458
2,429
136,219
29,602
471,751
---------
---------
-------
---------
--------
---------
Depreciation
At 1 Jan 2024
74,177
45,401
181
3,144
27,357
150,260
Charge for the year
7,210
19,553
243
11,876
1,046
39,928
---------
---------
-------
---------
--------
---------
At 31 Dec 2024
81,387
64,954
424
15,020
28,403
190,188
---------
---------
-------
---------
--------
---------
Carrying amount
At 31 Dec 2024
23,656
133,504
2,005
121,199
1,199
281,563
---------
---------
-------
---------
--------
---------
At 31 Dec 2023
30,866
137,382
2,248
91,175
848
262,519
---------
---------
-------
---------
--------
---------
7. Debtors
2024
2023
£
£
Trade debtors
588,608
2,069,056
Amounts owed by group undertakings
( 65,429)
1,000
Prepayments and accrued income
20,659
36,246
---------
------------
543,838
2,106,302
---------
------------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
10,649
Trade creditors
416,393
726,806
Amounts owed to group undertakings
220,000
515,527
Accruals and deferred income
64,500
4,500
Corporation tax
84,309
Social security and other taxes
90,721
254,001
Obligations under finance leases and hire purchase contracts
18,657
9,400
Other creditors
7,724
125,399
---------
------------
817,995
1,730,591
---------
------------
Bank loans included within creditors are government backed secured loans.
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
14,269
Other creditors
91,480
75,934
--------
--------
91,480
90,203
--------
--------
Bank loans included within creditors are government backed secured loans.
10. Deferred tax
The deferred tax included in the statement of financial position is as follows:
2024
2023
£
£
Included in provisions
( 45,115)
37,958
--------
--------
The deferred tax account consists of the tax effect of timing differences in respect of:
2024
2023
£
£
Accelerated capital allowances
49,008
37,958
Unused tax losses
( 93,535)
Provisions
( 588)
--------
--------
(45,115)
37,958
--------
--------
11. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares shares of £ 1 each
900
900
900
900
Ordinary A shares shares of £ 1 each
48
48
48
48
----
----
----
----
948
948
948
948
----
----
----
----
12. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
18,182
Later than 1 year and not later than 5 years
25,894
--------
----
44,076
--------
----
13. Related party transactions
There is a £183,990 debtor balance (2023 - £116,754 creditor balance) at the year-end owed by a related party company; 8ight Plus Limited. During the year, the company transacted with 8ight plus amounting to £300,744 (2023 - £141,754) There is a £250,895 creditor balance (2023 - £515,527) due to a group undertaking, Eight Days a Week (Holdings) Limited. There is a £Nil (2023 - £1,000) debtor balance at the year-end owed by the immediate parent company; 8ight Print Solutions Limited. There is £220,000 (2023 - £Nil) owing to 8ight Group Limited, the ultimate parent undertaking.
14. Controlling party
The company's immediate and ultimate parent company is 8ight Group Limited. From the 25th of October 2024, following a group restructure, the immediate parent ceased to be Eight Days a Week Print Solutions (Holdings) Limited and became 8ight Group Limited. The ultimate parent company prior to the group restructure was 8ight Print Solutions Limited. All companies mentioned above are registered in England and Wales under the Companies Act 2006 and the registered offices are 3B Swallowfield Courtyard, Wolverhampton Road, Oldbury, B69 2JG. The ultimate controlling party is Mr L. Hill.