Company registration number 04772216 (England and Wales)
ST AUSTELL PRINTING COMPANY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
ST AUSTELL PRINTING COMPANY LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 10
ST AUSTELL PRINTING COMPANY LIMITED
BALANCE SHEET
AS AT 31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
3
600,000
660,850
Tangible assets
4
5,128,783
5,460,917
Investment property
5
2,200,000
2,200,000
Investments
6
4
4
7,928,787
8,321,771
Current assets
Stocks
83,852
76,610
Debtors
7
1,856,956
1,891,087
Cash at bank and in hand
822,981
740,116
2,763,789
2,707,813
Creditors: amounts falling due within one year
8
(938,846)
(948,785)
Net current assets
1,824,943
1,759,028
Total assets less current liabilities
9,753,730
10,080,799
Creditors: amounts falling due after more than one year
9
(341,191)
(855,313)
Deferred grants
(1,436,227)
(1,633,454)
Net assets
7,976,312
7,592,032
Capital and reserves
Called up share capital
4
4
Non-distributable profits reserve
10
138,695
138,695
Distributable profit and loss reserves
7,837,613
7,453,333
Total equity
7,976,312
7,592,032

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

ST AUSTELL PRINTING COMPANY LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2025
31 March 2025
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 4 November 2025 and are signed on its behalf by:
P Moody
Director
Company Registration No. 04772216
ST AUSTELL PRINTING COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 3 -
1
Accounting policies
Company information

St Austell Printing Company Limited is a private company limited by shares incorporated in England and Wales. The registered office is St Austell Printing Company Limited, St. Austell Business Park, St. Austell, Cornwall, United Kingdom, PL25 4FD.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.

The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover and other income is measured at the fair value of the consideration received or receivable

net of VAT and trade discounts. The policies adopted for the recognition of turnover and other income

are as follows:

Sale of goods:

Turnover from the sale of goods is recognised at the point of despatch to the customer.

On-going services:

Turnover in respect of contracts for on-going services represents the value of work done in the year,

including estimates of amounts not invoiced by reference to the stage of completion.

Rent received:

Rental and associated income from operating leases is recognised on a straight-line basis over the

lease term. One-off rentals and associated income received are recognised at the point of sale.

ST AUSTELL PRINTING COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 4 -
1.4
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is twenty years.

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

1.5
Intangible fixed assets other than goodwill

Other intangible assets includes costs in connection with the company's website, and is being

amortised evenly over its estimated useful life of four years.

Website
25% straight line
1.6
Tangible fixed assets

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

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Freehold property
2% straight line
Fixtures, fittings, and equipment
10% - 33% straight line
Motor vehicles
25% straight line

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 or loss.

1.7
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

1.8
Fixed asset investments

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.9
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible 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.

ST AUSTELL PRINTING COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 5 -

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 discounted 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 or 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 an impairment loss is recognised immediately in profit or 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.

1.10
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.

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 or loss. Reversals of impairment losses are also recognised in profit or loss.

1.11
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.

1.12
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, 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.

ST AUSTELL PRINTING COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 6 -
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 recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts 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 interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts 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 price and subsequently measured at amortised cost using the effective interest method.

1.13
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.

1.14
Taxation

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

Current tax

The tax currently payable is based on taxable profit for the year. 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.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. 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 or 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.

1.15
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.

ST AUSTELL PRINTING COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 7 -
1.16
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.17
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 of 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 or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

1.18
Government grants

Grants received relating to the freehold property are treated as a deferred credit and are released to

profit or loss in equal instalments over the assumed life of the European clawback period following the

performance model of matching the grant period with the satisfaction of certain job creation and

retention criteria.

Grants received relating to other fixed assets are treated as a deferred credit and are released to profit

or loss in equal instalments over the estimated useful economic life of the asset concerned.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
35
29
ST AUSTELL PRINTING COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 8 -
3
Intangible fixed assets
Goodwill
Website
Total
£
£
£
Cost
At 1 April 2024 and 31 March 2025
1,200,000
18,400
1,218,400
Amortisation and impairment
At 1 April 2024
540,000
17,550
557,550
Amortisation charged for the year
60,000
850
60,850
At 31 March 2025
600,000
18,400
618,400
Carrying amount
At 31 March 2025
600,000
-
0
600,000
At 31 March 2024
660,000
850
660,850
4
Tangible fixed assets
Freehold property
Fixtures, fittings, and equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 April 2024
6,258,922
4,961,618
71,673
11,292,213
Additions
-
0
101,138
21,348
122,486
Disposals
-
0
-
0
(19,925)
(19,925)
Transfers
(17,014)
17,014
-
0
-
0
At 31 March 2025
6,241,908
5,079,770
73,096
11,394,774
Depreciation and impairment
At 1 April 2024
1,353,911
4,429,520
47,865
5,831,296
Depreciation charged in the year
120,179
326,478
7,963
454,620
Eliminated in respect of disposals
-
0
-
0
(19,925)
(19,925)
Transfers
(683)
683
-
0
-
0
At 31 March 2025
1,473,407
4,756,681
35,903
6,265,991
Carrying amount
At 31 March 2025
4,768,501
323,089
37,193
5,128,783
At 31 March 2024
4,905,011
532,098
23,808
5,460,917
5
Investment property
2025
£
Fair value
At 1 April 2024 and 31 March 2025
2,200,000
ST AUSTELL PRINTING COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
5
Investment property
(Continued)
- 9 -

Investment properties have been assessed by the directors and valued on an open market basis as at 31 March 2025.

6
Fixed asset investments
2025
2024
£
£
Shares in group undertakings and participating interests
4
4
7
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
613,163
746,435
Other debtors
276,040
220,981
889,203
967,416
2025
2024
Amounts falling due after more than one year:
£
£
Other debtors
938,671
923,671
Deferred tax asset
29,082
-
0
967,753
923,671
Total debtors
1,856,956
1,891,087
8
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
192,955
162,570
Trade creditors
480,080
376,056
Taxation and social security
195,039
227,311
Other creditors
70,772
182,848
938,846
948,785
9
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans
341,191
855,313
ST AUSTELL PRINTING COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
9
Creditors: amounts falling due after more than one year
(Continued)
- 10 -

The company has provided a legal charge and a debenture to National Westminster Bank PLC for the bank loan. There is a fixed and floating charge over the undertaking and all property and assets present and future.

Creditors which fall due after five years are as follows:
2025
2024
£
£
Payable by instalments
-
313,367
10
Non-distributable profits reserve
2025
2024
£
£
At the beginning and end of the year
138,695
138,695
11
Operating lease commitments
Lessor

At the reporting end date the company had contracted with tenants for the following minimum lease payments:

2025
2024
£
£
567,304
344,275
12
Directors' transactions

Interest has been charged on the overdrawn loan at the official rate of interest of 2.25% (20 24: 2.25%).The balance outstanding at the balance sheet date is included within other debtors and is at call.

Description
% Rate
Opening balance
Amounts advanced
Interest charged
Amounts repaid
Closing balance
£
£
£
£
£
AE Moody and PH Moody
2.25
417,168
134,654
9,764
(133,431)
428,155
417,168
134,654
9,764
(133,431)
428,155
13
Ultimate Controlling Party

The directors, A and P Moody, are the ultimate controlling party by virtue of their combined 100% shareholding in the company.

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