Heckford Printers Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 01402909 (England and Wales)

Unaudited Financial Statements for the Year Ended 31st March 2025

for

HECKFORD PRINTERS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr S R Scurr

Mrs P A Scurr

Mr M Scurr

SECRETARY:

Mr R E Holcroft

REGISTERED OFFICE:

6 St Marks Place East

Preston

Lancashire

PR1 8TN

REGISTERED NUMBER:

01402909 (England and Wales)

ACCOUNTANTS:

BK Plus - Chorley

Chartered Certified Accountants

41 St Thomas's Road

Chorley

Lancashire

PR7 1JE

FIXED ASSETS

Intangible assets

4

-

Tangible assets

5

1,350,514

1,405,841

Investment property

6

175,000

1,525,514

1,580,841

CURRENT ASSETS

Stocks

7

80,004

73,828

Debtors

8

454,664

367,418

Investments

9

379,725

377,508

Cash at bank and in hand

570,231

650,618

1,484,624

1,469,372

CREDITORS

Amounts falling due within one year

10

397,371

287,886

NET CURRENT ASSETS

1,087,253

1,181,486

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,612,767

2,762,327

CREDITORS

Amounts falling due after more than one
year

11

(32,725

)

-

PROVISIONS FOR LIABILITIES

-

(18,614

)

NET ASSETS

2,580,042

2,743,713

CAPITAL AND RESERVES

Called up share capital

10,000

Retained earnings

2,570,042

2,733,713

SHAREHOLDERS' FUNDS

2,580,042

2,743,713

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 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 19th October 2025 and were signed on its behalf by:

Mr S R Scurr - Director

1.	STATUTORY INFORMATION

Heckford Printers 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.

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 as modified by the revaluation of certain assets.

Turnover

Turnover represents the value of goods and services, excluding value added tax, provided to customers during the year.

Sale of goods and services:

Revenue from the sale of goods and services is recognised when the following conditions are satisfied:

- the Company has transferred to the buyer the significant risks and rewards of ownership of the goods and associated services;

- 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.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

NIL

Long leasehold improvements

-

Over the period of the lease

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

In a departure from FRS 102 Section 1A for small entities, no depreciation is provided in respect of freehold properties. This is a departure from the requirements of the Companies Act 2006 which requires all properties to be depreciated. The directors consider that to depreciate them would not give a true and fair view. Depreciation is only one of the many elements reflected in the annual valuation of properties and accordingly the amount of depreciation which might otherwise have been charged cannot be separately identified or quantified. The directors consider that this policy results in the financial statements giving a true and fair view.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

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 items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments' of FRS 102 to all 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, loans to common controlled companies and cash and bank balances, are initially measured at transaction price including transaction costs. They 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.

Other financial assets

All the company's financial assets fall to be classified as basic financial assets under Section 11 of FRS 102 and the company therefore holds no other financial assets.

Basic financial liabilities

Basic financial liabilities, including creditors, 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 receipts 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. 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 price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities

All the companies financial liabilities fall to be classified as basic financial liabilities under Section 11 of FRS 102 and the company therefore has no other financial instruments.

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.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Listed investments

In accordance with the Financial Reporting Standards 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" the use of fair value for investments in shares which are publicly traded or where the fair value can be measured reliably is required. Movements in fair value are recognised in the Trading profit & Loss Account.

Cash and cash equivalents

Cash and cash equivalents includes cash in hand, deposits held with banks, and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.

Impairment of assets

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2024 - 33 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st April 2024

and 31st March 2025

5,000

AMORTISATION

At 1st April 2024

and 31st March 2025

5,000

NET BOOK VALUE

At 31st March 2025

-

At 31st March 2024

-

5.	TANGIBLE FIXED ASSETS

Long

Freehold

leasehold

Plant and

property

improvements

machinery

£

COST OR VALUATION

At 1st April 2024

900,000

52,656

846,940

Additions

-

6,422

Disposals

-

(41,566

)

At 31st March 2025

900,000

52,656

811,796

DEPRECIATION

At 1st April 2024

-

13,264

416,019

Charge for year

-

7,879

84,784

Eliminated on disposal

-

(31,117

)

At 31st March 2025

-

21,143

469,686

NET BOOK VALUE

At 31st March 2025

900,000

31,513

342,110

At 31st March 2024

900,000

39,392

430,921

Fixtures

and

Motor

fittings

vehicles

Totals

£

COST OR VALUATION

At 1st April 2024

101,837

69,148

1,970,581

Additions

-

59,293

65,715

Disposals

-

(41,566

)

At 31st March 2025

101,837

128,441

1,994,730

DEPRECIATION

At 1st April 2024

93,620

41,837

564,740

Charge for year

1,643

16,287

110,593

Eliminated on disposal

-

(31,117

)

At 31st March 2025

95,263

58,124

644,216

NET BOOK VALUE

At 31st March 2025

6,574

70,317

1,350,514

At 31st March 2024

8,217

27,311

1,405,841

Included in cost or valuation of land and buildings is freehold land of £ 160,000 (2024 - £ 160,000 ) which is not depreciated.

Cost or valuation at 31st March 2025 is represented by:

Long

Freehold

leasehold

Plant and

property

improvements

machinery

£

Valuation in 2016

50,000

-

Valuation in 2018

(140,840

)

-

Valuation in 2019

15,000

-

Cost

975,840

52,656

811,796

900,000

52,656

811,796

Fixtures

and

Motor

fittings

vehicles

Totals

£

Valuation in 2016

-

50,000

Valuation in 2018

-

(140,840

)

Valuation in 2019

-

15,000

Cost

101,837

128,441

2,070,570

101,837

128,441

1,994,730

Under the Financial Reporting Standard 102 Section 1A, a cost model policy has been adopted and so the properties are valued at deemed cost and are subject to regular impairment reviews. Deferred tax is provided on these movements. Gains and losses arising from changes in the fair values are included in the Statement of Income in the period in which they arise.

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST OR VALUATION

Additions

39,795

At 31st March 2025

39,795

DEPRECIATION

Charge for year

5,803

At 31st March 2025

5,803

NET BOOK VALUE

At 31st March 2025

33,992

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st April 2024

and 31st March 2025

175,000

NET BOOK VALUE

At 31st March 2025

175,000

At 31st March 2024

175,000

7.

STOCKS

31.3.25

31.3.24

£

Raw materials and consumables

55,816

46,073

Work-in-progress

24,188

27,755

80,004

73,828

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Trade debtors

438,257

356,835

Directors' current accounts

-

1,719

Prepayments and accrued income

16,407

8,864

454,664

367,418

9.	CURRENT ASSET INVESTMENTS

31.3.25

31.3.24

£

Listed investments

379,725

377,508

10.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Hire purchase contracts (see note 12)

4,380

-

Trade creditors

128,847

137,245

Social security and other taxes

69,252

74,278

Directors' current accounts

1,238

1,509

Accruals and deferred income

193,654

74,854

397,371

287,886

11.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

Hire purchase contracts (see note 12)

32,725

-

12.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

31.3.25

31.3.24

£

Net obligations repayable:

Within one year

4,380

-

Between one and five years

32,725

-

37,105

-

Non-cancellable

operating leases

31.3.25

31.3.24

£

Within one year

37,820

43,469

Between one and five years

108,000

145,820

In more than five years

36,000

72,000

181,820

261,289

13.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

Hire purchase contracts

37,105

-

Balances due under hire purchase contracts are secured against the assets to which they relate.

14.	RELATED PARTY DISCLOSURES

At the balance sheet date, the directors were owed £1,238 from the company (2024: £210 owed to the company). There is no interest charged on this loan and it is repayable on demand.

15.	CONTROLLING PARTY

Throughout the current and previous year, Mr & Mrs S Scurr, have controlled the company by virtue of their majority shareholding in the company.