Registration number:
T. Print Limited
for the Year Ended 31 January 2025
T. Print Limited
Contents
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Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
T. Print Limited
Company Information
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Director |
Mr A Bainbridge |
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Company secretary |
Mr P Bainbridge |
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Registered office |
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Accountants |
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T. Print Limited
(Registration number: 01807261)
Balance Sheet as at 31 January 2025
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2025 |
2024 |
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Fixed Assets |
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Tangible Assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets/(liabilities) |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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Net liabilities |
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Capital and Reserves |
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Called up share capital |
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Retained Earnings |
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Shareholders' deficit |
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T. Print Limited
(Registration number: 01807261)
Balance Sheet as at 31 January 2025
For the financial year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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T. Print Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025
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General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
These financial statements were authorised for issue by the
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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 small entities - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
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.
Going concern
The financial statements have been prepared on a going concern basis. The director believes this to be appropriate as management accounts to date show a significant increase in profitability and trading should continue to improve in the future, in the meantime the company will continue to have the support of the shareholders.
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.
Government grants
Whether of a capital or revenue nature, government grants have been recognised on an accruals basis and recognised in the accounts in the period in which they become receivable.
Grants of a revenue nature are recognised in "other operating income"; within the profit and loss account of the same period as the related expenditure.
T. Print Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025
Foreign currency transactions and balances
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also
recognised directly in other comprehensive income.
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.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.
Tangible Assets
Tangible Assets are stated in the balance sheet 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.
T. Print Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025
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:
Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, If the asset were already at the age and in the condition expected at the end of its useful economic life.
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Asset class |
Depreciation method and rate |
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Plant and machinery |
25% reducing balance |
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Fixtures and fittings |
15% straight line |
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Motor vehicles |
25% reducing balance |
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Computer equipment |
33% straight line |
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 amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.
Intangible assets
Intangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
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:
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Asset class |
Amortisation method and rate |
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Goodwill |
20% straight line |
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Lease property |
10% straight line |
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Website design |
33% straight line |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade Debtors
Trade Debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade Debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
T. Print Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025
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.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
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.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
T. Print Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025
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.
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Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
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Profit/loss before tax |
Arrived at after charging/(crediting)
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2025 |
2024 |
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Depreciation expense |
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Amortisation expense |
- |
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T. Print Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025
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Intangible assets |
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Goodwill |
Website development costs |
Property lease costs |
Total |
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Cost or valuation |
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At 1 February 2024 |
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At 31 January 2025 |
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Amortisation |
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At 1 February 2024 |
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At 31 January 2025 |
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Carrying amount |
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At 31 January 2025 |
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Tangible Assets |
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Land and buildings |
Fixtures and fittings |
Plant and machinery |
Office equipment |
Motor vehicles |
Total |
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Cost or valuation |
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At 1 February 2024 |
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Additions |
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Disposals |
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At 31 January 2025 |
- |
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Depreciation |
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At 1 February 2024 |
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Charge for the year |
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At 31 January 2025 |
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Carrying amount |
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At 31 January 2025 |
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At 31 January 2024 |
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Included within the net book value of land and buildings above is £Nil (2024 - £126,448) in respect of freehold land and buildings.
T. Print Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025
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Stocks |
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2025 |
2024 |
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Other inventories |
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Debtors |
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Current |
2025 |
2024 |
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Trade Debtors |
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Prepayments |
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Other debtors |
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T. Print Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025
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Creditors |
Creditors: amounts falling due within one year
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Note |
2025 |
2024 |
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Due within one year |
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Loans and borrowings |
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Trade Creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Creditors: amounts falling due after more than one year
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Note |
2025 |
2024 |
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Due after one year |
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Loans and borrowings |
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Loans and borrowings |
Non-current loans and borrowings
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2025 |
2024 |
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Bank borrowings |
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Finance lease liabilities |
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Other borrowings |
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2025 |
2024 |
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Current loans and borrowings |
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Finance lease liabilities |
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T. Print Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025
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Share capital |
Allotted, called up and fully paid shares
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2025 |
2024 |
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No. |
£ |
No. |
£ |
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100 |
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100 |
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51 |
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51 |
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49 |
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49 |
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1 |
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1 |
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1 |
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1 |
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Related party transactions |
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Transactions with the director |
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2025 |
At 1 February 2024 |
Advances to director |
At 31 January 2025 |
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Mr A Bainbridge |
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Current account with the director |
- |
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2024 |
At 1 February 2023 |
Repayments by director |
At 31 January 2024 |
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Mr A Bainbridge |
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Current account with the director |
( |
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Loans to directors are made interest free and are repayable on demand. The amount has been wholly repaid after the year end.
T. Print Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025
Summary of transactions with other related parties
During the year the company also paid dividends totalling £Nil (2024 - £Nil) to the Bainbridge Family Trust, of which Mr Alan Bainbridge is a trustee.
No dividends were paid to any other shareholders.
The company is leasing 261 Bristol Avenue from the T Print Limited Benefits Scheme. The rent charged in the period was, £Nil (2024: £110,000) (VAT exclusive). Mr Bainbridge is a trustee of the Retirement Benefits Scheme. During the year the company took advantage of a rent holiday offered to assist with cashflow.