Printvision (UK) Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—8

1. General Information

Printvision (UK) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05012396 . The registered office is 21 High View Close, Hamilton Office Park, Leicester, Leicestershire, LE4 9LJ.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

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

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold	Over 5 years
Plant & Machinery	Over 5 years
Motor Vehicles	Over 5 years

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Printvision (UK) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2025

2.5. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.6. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.7. Foreign Currencies

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

2.8. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.9. Pensions

Contributions to defined contribution plans are expensed in the period to which they relate.

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Printvision (UK) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2025

2.10. Debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

2.11. Creditors

Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

2.12. Provisions

Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 42 (2024: 34)

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 February 2024	60,000

As at 31 January 2025	60,000

Amortisation
As at 1 February 2024	60,000

As at 31 January 2025	60,000

Net Book Value
As at 31 January 2025	-

As at 1 February 2024	-

Goodwill has been written off in equal annual instalments over its estimated economic life of 10 years.

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Printvision (UK) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2025

5. Tangible Assets

	Land & Property
	Leasehold	Plant & Machinery	Motor Vehicles	Total
	£	£	£	£
Cost
As at 1 February 2024	49,085	1,667,966	14,000	1,731,051
Additions	-	58,563	-	58,563
Disposals	-	(3,520 )	-	(3,520 )

As at 31 January 2025	49,085	1,723,009	14,000	1,786,094

Depreciation
As at 1 February 2024	49,085	1,378,881	12,866	1,440,832
Provided during the period	-	87,434	800	88,234
Disposals	-	(2,112 )	-	(2,112 )

As at 31 January 2025	49,085	1,464,203	13,666	1,526,954

Net Book Value
As at 31 January 2025	-	258,806	334	259,140

As at 1 February 2024	-	289,085	1,134	290,219

6. Stocks

	2025	2024
	£	£
Finished goods	374,000	350,000

7. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	322,558	275,157
Prepayments and accrued income	79,285	100,642
Other debtors	438,024	382,240

	839,867	758,039

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Printvision (UK) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2025

8. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	52,993	35,882
Trade creditors	196,966	452,836
Bank loans and overdrafts	10,825	29,602
Other taxes and social security	263,400	160,070
Other creditors	17,093	3,558
Accruals and deferred income	6,081	5,972

	547,358	687,920

9. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	118,607	3,991
Bank loans	4,608	14,344

	123,215	18,335

10. Secured Creditors

The Company's banking facilities are provided by Barclays Bank Plc and are secured by a guarantee for £70,000 from Mr A K Patel and Mr K K Patel in form and substance satisfactory to the bank supported by a legal charge over personal property.

11. Obligations Under Finance Leases and Hire Purchase

	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	52,993	35,882
Later than one year and not later than five years	118,607	3,991

	171,600	39,873

	171,600	39,873

12. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	200	200

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Printvision (UK) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2025

13. Related Party Transactions

Mr A Patel & Mr K Patel

Directors Loan Account - these loans are free of interest and repayable on demand.

The amount is included within other debtors/creditors.

Amount due (from)/to the related party: 2025: £13,188 (2024: (£240))

Rayo Lighting Ltd

A company in which the director Mr K Patel is also director and shareholder.

Loan account - The loan is free of interest and repayable on demand.

The amount is included within other debtors.

Amount due from the related party: 2025: £103,757 (2024: £102,881)

JKS Innovations Ltd

A company in which the director and shareholder is the son of director Mr K Patel.

Loan account - The loan is free of interest and repayable on demand.

The amount is included within other debtors.

Amount due from the related party: 2025: £38,430 (2024: £0)

CDP Properties Ltd

A company in which the directors are also directors and shareholders.

Loan account - The loan is free of interest and repayable on demand.

The amount is included within other debtors.

Amount due from the related party: 2025: £278,276 (2024: £276,798)

During the year, CDP Properties Ltd charged £55,200 rent to the company (2024: £55,200)

14. Ultimate Controlling Party

The directors Mr K Patel and Mr A Patel are the ultimate controlling party by virtue of their joint beneficial ownership of 100% of the issued ordinary share capital of the company.

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	5		259,140		290,219

			259,140		290,219
CURRENT ASSETS
Stocks	6	374,000		350,000
Debtors	7	839,867		758,039
Cash at bank and in hand		288,734		193,779

		1,502,601		1,301,818
Creditors: Amounts Falling Due Within One Year	8	(547,358 )		(687,920 )

NET CURRENT ASSETS (LIABILITIES)			955,243		613,898

TOTAL ASSETS LESS CURRENT LIABILITIES			1,214,383		904,117

Creditors: Amounts Falling Due After More Than One Year	9		(123,215 )		(18,335 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(40,190 )		(49,327 )

NET ASSETS			1,050,978		836,455

CAPITAL AND RESERVES
Called up share capital	12		200		200
Profit and Loss Account			1,050,778		836,255

SHAREHOLDERS' FUNDS			1,050,978		836,455