REGISTERED NUMBER: 02647508 (England and Wales)

Unaudited Financial Statements

for the Year Ended 28 February 2025

for

Prismatape U.K. Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs S J Mangano

Mr A R Mangano

SECRETARY:

Mrs S J Mangano

REGISTERED OFFICE:

Road One

Winsford Industrial Estate

Winsford

Cheshire

CW7 3RW

REGISTERED NUMBER:

02647508 (England and Wales)

ACCOUNTANTS:

Buxton Accounting LLP

Chartered Accountants

98 Middlewich Road

Northwich

Cheshire

CW9 7DA

FIXED ASSETS

Tangible assets

4

1,416,382

1,411,973

CURRENT ASSETS

Stocks

311,834

245,008

Debtors

5

396,486

460,543

Cash at bank

73

10,035

708,393

715,586

CREDITORS

Amounts falling due within one year

6

814,093

736,759

NET CURRENT LIABILITIES

(105,700

)

(21,173

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,310,682

1,390,800

CREDITORS

Amounts falling due after more than one year

7

(174,329

)

(202,848

)

PROVISIONS FOR LIABILITIES

10

(167,527

)

(166,690

)

NET ASSETS

968,826

1,021,262

CAPITAL AND RESERVES

Called up share capital

11

1,000

1,000

Revaluation reserve

12

462,330

462,330

Retained earnings

12

505,496

557,932

SHAREHOLDERS' FUNDS

968,826

1,021,262

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 August 2025 and were signed on its behalf by:

Mr A R Mangano - Director

1.	STATUTORY INFORMATION

Prismatape U.K. Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared under the historic 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.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from this estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimate is revised were the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Turnover

Turnover is recognised at 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.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% on cost with a residual value

Improvements to property

-

10% on cost

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

20% on cost

Computer equipment

-

20% on cost

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

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 and loss.

Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discontinued to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit and loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash generating unit) in prior years. A reversal of impairment loss is recognised immediately in profit and loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement costs, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit and loss. Reversals of impairment losses are also recognised in profit and loss.

Financial instruments

The company has elected to apply the provisions of Section 11 "Basic Financial Instruments" and Section 12 "Other Financial Instruments Issues" of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts, discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognises at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective rate of interest method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction pice and subsequently measured at amortised cost using the effective interest method.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

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.ate.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only 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 of 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.s or other future taxable profits.

Employee benefits

The costs of short term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date if inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit and loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Foreign exchange transactions

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising in translation in the period are included in profit and loss.

Factoring of debt

The company had adopted the separate disclosure method for the factoring of its trade debtors. The gross amount of the debt is disclosed on the balance sheet with trade debtors and the corresponding liability to the debt factor in respect of advances made is disclosed within creditors. Interest and factoring charges are recognised in the profit and loss account.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2024 - 10 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Plant and

property

property

machinery

£

£

£

COST

At 29 February 2024

1,360,000

45,880

47,411

Additions

-

-

-

Disposals

-

-

-

At 28 February 2025

1,360,000

45,880

47,411

DEPRECIATION

At 29 February 2024

-

43,036

41,228

Charge for year

-

316

1,236

Eliminated on disposal

-

-

-

At 28 February 2025

-

43,352

42,464

NET BOOK VALUE

At 28 February 2025

1,360,000

2,528

4,947

At 28 February 2024

1,360,000

2,844

6,183

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 29 February 2024

13,464

55,880

59,678

1,582,313

Additions

-

43,397

1,532

44,929

Disposals

-

(49,093

)

-

(49,093

)

At 28 February 2025

13,464

50,184

61,210

1,578,149

DEPRECIATION

At 29 February 2024

13,464

22,352

50,260

170,340

Charge for year

-

10,037

2,190

13,779

Eliminated on disposal

-

(22,352

)

-

(22,352

)

At 28 February 2025

13,464

10,037

52,450

161,767

NET BOOK VALUE

At 28 February 2025

-

40,147

8,760

1,416,382

At 28 February 2024

-

33,528

9,418

1,411,973

Land and buildings were valued on 17 January 2024 by Eddisons Chartered Surveyors, independent valuers not connected with the company, on the basis of replacement value. The directors consider the valuation to be appropriate as at 28 February 2025 and the revaluation adjustment made reflects this.

The revaluation surplus is disclosed in the relevant note in the accounts.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

391,998

444,694

Other debtors

4,488

15,849

396,486

460,543

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts (see note 8)

95,789

54,841

Hire purchase contracts

8,980

9,013

Trade creditors

592,268

557,489

Taxation and social security

114,619

113,392

Other creditors

2,437

2,024

814,093

736,759

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans (see note 8)

142,800

180,926

Hire purchase contracts

31,529

21,922

174,329

202,848

8.

LOANS

An analysis of the maturity of loans is given below:

2025

2024

£

£

Amounts falling due within one year or on demand:

Bank overdrafts

40,820

-

Bank loans

54,969

54,841

95,789

54,841

Amounts falling due between one and two years:

Bank loans - 1-2 years

54,970

54,840

Amounts falling due between two and five years:

Bank loans - 2-5 years

87,830

126,086

9.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

197,769

235,767

Hire purchase contracts

40,509

30,935

238,278

266,702

There is a charge in HSBC's favour relating to lending to the company, secured against the property owned by the company. Hire purchase liabilities are secured against the assets concerned.

10.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

167,527

166,690

Deferred

tax

£

Balance at 29 February 2024

166,690

Charge to Income Statement during year

837

Balance at 28 February 2025

167,527

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

500

Ordinary A

£1

500

500

500

Ordinary B

£1

500

500

1,000

1,000

12.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

£

£

At 29 February 2024

557,932

462,330

1,020,262

Profit for the year

18,564

18,564

Dividends

(71,000

)

(71,000

)

At 28 February 2025

505,496

462,330

967,826

13.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Dividends totalling £71,000 (2024: £60,000) were paid in the year in respect of shares held by the company's directors.

14.	RELATED PARTY DISCLOSURES

At the year end the company owed £30,914 (2024: £22,920) to a connected company under common control. This is disclosed in trade creditors.

As at the balance sheet date of 28 February 2025, a director was owed £687 by the company (2024: £4,713 owed to the company).

15.	ULTIMATE CONTROLLING PARTY

The Board of Directors is the ultimate controlling party of the company, controlling 100% of the issued ordinary share capital of the company..