Pardy & Son (Printers) Limited

Notes to the Financial Statements

Year Ended 31 August 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1a Parkside
Ringwood
Hampshire
BH24 3SF

2	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 including Section 1A - '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.

These financial statements have been prepared using £ sterling and have been rounded to the nearest whole pound.

Group accounts not prepared

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of printing and associated services and materials in the ordinary course of the company's activities. Turnover is shown net of sales and value added tax.

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 activity.

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 corporation 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.

Pardy & Son (Printers) Limited

Notes to the Financial Statements

Year Ended 31 August 2025

Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

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.

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:

Asset class	Depreciation method and rate
Leasehold property	Over period of lease
Plant and machinery	Straight line over 5, 10 or 15 years
Fixtures and fittings	Straight line over 15 years
Motor vehicles	25% on reducing balance

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: The directors believe that the purchased goodwill has a useful life of 20 years.

Asset class	Amortisation method and rate
Goodwill	Straight line over 20 years

Stocks

Stock and work in progress are valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Leases

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.

Pardy & Son (Printers) Limited

Notes to the Financial Statements

Year Ended 31 August 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.

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

 

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 18 (2024 - 16).

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 September 2024	3,005,642	3,005,642
At 31 August 2025	3,005,642	3,005,642
Amortisation
At 1 September 2024	3,005,642	3,005,642
At 31 August 2025	3,005,642	3,005,642
Carrying amount
At 31 August 2025	-	-

Pardy & Son (Printers) Limited

Notes to the Financial Statements

Year Ended 31 August 2025

5	Tangible assets

	Leasehold improvements £	Fixtures and fittings  £	Motor vehicles  £	Plant and machinery £	Total £
Cost or valuation
At 1 September 2024	71,937	14,783	14,500	638,671	739,891
Additions	-	-	-	22,346	22,346
At 31 August 2025	71,937	14,783	14,500	661,017	762,237
Depreciation
At 1 September 2024	71,937	13,294	1,812	604,276	691,319
Charge for the year	-	267	1,586	7,111	8,964
At 31 August 2025	71,937	13,561	3,398	611,387	700,283
Carrying amount
At 31 August 2025	-	1,222	11,102	49,630	61,954
At 31 August 2024	-	1,489	12,688	34,395	48,572

6

Stocks

	2025 £	2024 £
Other inventories	19,988	28,915

7

Debtors

	2025 £	2024 £
Trade debtors	182,307	249,875
Prepayments	38,658	39,743
Other debtors	41,469	59,663
	262,434	349,281

Pardy & Son (Printers) Limited

Notes to the Financial Statements

Year Ended 31 August 2025

8

Creditors

Creditors: amounts falling due within one year

		2025 £	2024 £
Due within one year
Loans and borrowings		159,963	160,704
Trade creditors		190,497	263,207
Taxation and social security		37,610	45,265
Other creditors		33,497	21,938
		421,567	491,114

Creditors: amounts falling due after more than one year

		2025 £	2024 £
Due after one year
Loans and borrowings		13,259	59,634