Registration number: 00497976

W.H. Forster (Printers) Limited

(Registration number: 00497976)
Statement of Financial Position as at 30 September 2024

	Note	2024 £	2023 £
Fixed assets
Intangible assets	4	36,158	-
Tangible assets	5	284,093	519,848
Investment property	6	179,206	160,867
		499,457	680,715
Current assets
Stocks	7	275,000	225,000
Debtors	8	1,217,949	1,266,956
Investments	9	1,352	1,021
Cash at bank and in hand		998,028	1,952,990
		2,492,329	3,445,967
Creditors: Amounts falling due within one year	10	(781,282)	(482,085)
Net current assets		1,711,047	2,963,882
Total assets less current liabilities		2,210,504	3,644,597
Creditors: Amounts falling due after more than one year	10	(19,059)	(39,074)
Net assets		2,191,445	3,605,523
Capital and reserves
Called up share capital		15,600	15,600
Capital redemption reserve		921	921
Retained earnings		2,174,924	3,589,002
Shareholders' funds		2,191,445	3,605,523

W.H. Forster (Printers) Limited

(Registration number: 00497976)
Statement of Financial Position as at 30 September 2024

For the financial year ending 30 September 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the Board on 29 September 2025 and signed on its behalf by:
 

......................................... Mr Malcolm Robin Gray Director

W.H. Forster (Printers) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Doxford Print Works
Pallion Quay
Sunderland
Tyne and Wear
SR4 6TQ

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

W.H. Forster (Printers) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Tax

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

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

W.H. Forster (Printers) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 25 (2023 - 28).

W.H. Forster (Printers) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 October 2023	9,366	9,366
Additions acquired separately	45,198	45,198
At 30 September 2024	54,564	54,564
Amortisation
At 1 October 2023	9,366	9,366
Amortisation charge	9,040	9,040
At 30 September 2024	18,406	18,406
Carrying amount
At 30 September 2024	36,158	36,158

5	Tangible assets

	Fixtures and fittings £	Plant and machinery £	Office equipment £	Motor vehicles  £
Cost or valuation
At 1 October 2023	92,238	2,612,957	167,512	129,652
Additions	-	4,584	-	-
Disposals	-	(187,925)	-	-
At 30 September 2024	92,238	2,429,616	167,512	129,652
Depreciation
At 1 October 2023	82,504	2,132,324	164,002	103,681
Charge for the year	984	99,589	1,727	6,493
Eliminated on disposal	-	(56,379)	-	-
At 30 September 2024	83,488	2,175,534	165,729	110,174
Carrying amount
At 30 September 2024	8,750	254,082	1,783	19,478
At 30 September 2023	9,734	480,633	3,510	25,971

W.H. Forster (Printers) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

	Total £
Cost or valuation
At 1 October 2023	3,002,359
Additions	4,584
Disposals	(187,925)
At 30 September 2024	2,819,018
Depreciation
At 1 October 2023	2,482,511
Charge for the year	108,793
Eliminated on disposal	(56,379)
At 30 September 2024	2,534,925
Carrying amount
At 30 September 2024	284,093
At 30 September 2023	519,848

6	Investment properties

	2024 £
At 1 October	160,867
Additions	18,339
At 30 September	179,206

There has been no valuation of investment property by an independent valuer.

7

Stocks

	2024 £	2023 £
Raw materials and consumables	275,000	225,000

8

Debtors

Current	2024 £	2023 £
Trade debtors	475,170	568,222
Prepayments	19,083	10,179
Other debtors	723,696	688,555
	1,217,949	1,266,956

W.H. Forster (Printers) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

9	Current asset investments

	2024 £	2023 £
Other investments	1,352	1,021

W.H. Forster (Printers) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

10

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Loans and borrowings	11	9,999	10,000
Trade creditors		365,739	305,318
Amounts owed to group undertakings and undertakings in which the company has a participating interest	13	-	6,293
Taxation and social security		114,639	13,301
Accruals and deferred income		42,390	55,943
Other creditors		248,515	91,230
		781,282	482,085

Creditors: amounts falling due after more than one year

	Note	2024 £	2023 £
Due after one year
Loans and borrowings	11	7,500	17,500
Deferred income		11,559	21,574
		19,059	39,074

11	Loans and borrowings

Non-current loans and borrowings

	2024 £	2023 £
Bank borrowings	7,500	17,500

Current loans and borrowings

	2024 £	2023 £
Bank borrowings	9,999	10,000

12	Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

W.H. Forster (Printers) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

	2024 £	2023 £
Not later than one year	42,000	42,000
Later than one year and not later than five years	21,000	63,000
	63,000	105,000

13	Related party transactions

Transactions with directors

2024	At 1 October 2023 £	Repayments by director £	At 30 September 2024 £
Mr Malcolm Robin Gray
	631,262	(360,530)	270,732

2023	At 1 October 2022 £	Advances to director £	At 30 September 2023 £
Mr Malcolm Robin Gray
	-	631,262	631,262

W.H. Forster (Printers) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Summary of transactions with other related parties

A2 Screen Print Limited
A2 Screen Print Limited is a company in which W. H. Forster (Printers) Limited has a participating
interest. During the year the company received loan repayments of £nil (2023 - £nil),
advances of £nil (2023 - £nil), dividends of £nil (2023 - £800,000) from A2 Screen Print
Limited. At balance sheet date the company was owed £nil (2023 - £6,293) by A2 Screen Print
Limited. No interest has been charged in relation to this advance. In addition the company received
a distribution from the companies liquidator of £nil (2023 - £93,000).

Large Format UK Limited
Large Format UK Limited is a company in which W. H. Forster (Printers) Limited has a participating
interest. During the year the company made sales of £nil (2023 - £20,293) to and purchases
of £nil (2023 - £2,479) from Large Format UK Limited. At the balance sheet date the company
was owed £11,190 (2023 - £11,190), which has been fully provided as a bad debt, as a result of
these transactions. The company is in liquidation and no distribution is anticipated.

W. H. Forster (Printers) Limited Directors' Pension Scheme
W. H. Forster (Printers) Limited Directors' Pension Scheme is a small self administered scheme (SSAS) in which Malcolm and Linda Gray, directors of this company, are trustees. During the year, the SSAS paid amount of £155,500 (2023: £nil) on behalf of the company. No loan interest was charged by the SSAS in the current and preceding year. The balance due to the SSAS on 30 September 2024 amounted to £155,500 (2023: £nil).