LEEDS GRAPHIC PRESS LIMITED


Directors	STEAD, David Ian
	STEAD, Keith Malcolm
	STEAD, Philip Andrew
	STEAD, Sylvia


Company Secretary	STEAD, David Ian


Registered Address	Century House 4 Millennium Drive
	Holbeck
	Leeds
	LS11 5BP


Registered Number	01403800 (England and Wales)

Notes to the Financial Statements
for the year ended 31 March 2026

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Basis of preparation
	The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Turnover policy
	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/or the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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 policy

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/or the rendering of services.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.

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.

	Operating leases
	Payments made under operating leases are charged to the Income Statement on a straight line basis over the lease term.

	Employee benefits
	The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.

Employee benefits

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. 

Contributions to defined contribution plans are expensed in the period to which they relate.  Amounts not paid are shown in accruals in the Statement of Financial Position.  The assets of the plan are held separately from the company in independently administered funds.

	Current taxation
	Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 

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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Intangible assets
	Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement. Depreciation is provided on all tangible fixed assets as follows: Plant and machinery - 15% reducing balance Fixtures and fittings - 15% reducing balance Vehicles - 25% reducing balance Office equipment - between 4 and 5 years straight line

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. 

The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement.

Depreciation is provided on all tangible fixed assets as follows:

Plant and machinery - 15% reducing balance
Fixtures and fittings - 15% reducing balance
Vehicles - 25% reducing balance
Office equipment - between 4 and 5 years straight line

	Investments
	Investments in subsidiaries are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the Income Statement.

Investments

Investments in subsidiaries are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the Income Statement.

	Finance leases and hire purchase contracts
	Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease.

	Stocks and work in progress
	Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).

	Trade and other 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.

	Trade and other 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.

	Government grants or assistance
	Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income. Grants of a revenue nature are recognised in the Income Statement in the same period as the related expenditure.

Government grants or assistance

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. 

The deferred element of grants is included in creditors as deferred income.

Grants of a revenue nature are recognised in the Income Statement in the same period as the related expenditure.

2.	Average number of employees


		2026		2025
	Average number of employees during the year	28		28

3.	Intangible assets
	Intangible assets are not permitted to have an indefinite life and must be amortised over their estimated useful life. The estimated useful life of Goodwill has been set at 25% Straight line and the asset will be amortised on an annual basis.

	Goodwill	Total
	£	£
Cost or valuation
At 01 April 25	448,002	448,002
At 31 March 26	448,002	448,002
Amortisation and impairment
At 01 April 25	417,128	417,128
Charge for year	12,500	12,500
At 31 March 26	429,628	429,628
Net book value
At 31 March 26	18,374	18,374
At 31 March 25	30,874	30,874

4.	Tangible fixed assets

	Land & buildings	Plant & machinery	Vehicles	Fixtures & fittings	Office Equipment	Total
	£	£	£	£	£	£
Cost or valuation
At 01 April 25	1,270,389	2,212,263	42,824	221,754	201,652	3,948,882
Additions	-	106,175	-	-	1,666	107,841
Disposals	-	(15,800)	-	-	-	(15,800)
At 31 March 26	1,270,389	2,302,638	42,824	221,754	203,318	4,040,923
Depreciation and impairment
At 01 April 25	-	1,705,123	39,539	176,351	194,089	2,115,102
Charge for year	-	83,176	821	6,810	2,656	93,463
On disposals	-	(1,975)	-	-	-	(1,975)
At 31 March 26	-	1,786,324	40,360	183,161	196,745	2,206,590
Net book value
At 31 March 26	1,270,389	516,314	2,464	38,593	6,573	1,834,333
At 31 March 25	1,270,389	507,140	3,285	45,403	7,563	1,833,780


	The NBV of assets under hire purchase included above was £133,933 (2025 - £120,065)

5.	Fixed asset investments
	The disposal relates to an impairment of the investment in subsidiary down to nominal value.

	Investments in groups¹	Total
	£	£
Cost or valuation
At 01 April 25	40,200	40,200
Disposals	(40,100)	(40,100)
At 31 March 26	100	100
Net book value
At 31 March 26	100	100
At 31 March 25	40,200	40,200

	Notes
	¹Investments in group undertakings and participating interests

6.	Stocks

	2026	2025
	£	£
Raw materials and consumables	16,471	21,610
Work in progress	978	1,125
Total	17,449	22,735

7.	Debtors: amounts due within one year

	2026	2025
	£	£
Trade debtors / trade receivables	241,287	379,751
Other debtors	3,400	500
Prepayments and accrued income	29,848	15,611
Total	274,535	395,862

8.	Creditors: amounts due within one year

	2026	2025
	£	£
Trade creditors / trade payables	90,873	170,141
Bank borrowings and overdrafts	20,004	21,988
Taxation and social security	55,864	87,216
Finance lease and HP contracts	66,468	44,409
Other creditors	217,814	237,506
Accrued liabilities and deferred income	50,802	57,249
Total	501,825	618,509

9.	Creditors: amounts due after one year

	2026	2025
	£	£
Bank borrowings and overdrafts	628,062	646,081
Other creditors	67,465	75,656
Total	695,527	721,737

10.	Creditors: amounts due after 5 years
	The NatWest mortgage is repayable after more than five years amount to £548,047 (2025 - £558,130).

11.	Secured creditors
	Creditors are secured over the assets to which they relate. The NatWest mortgage is secured via a fixed charge on the property of the company.

12.	Obligations under finance leases

		2026		2025
		£		£
	Finance lease and HP contracts	133,933		120,065

13.	Provisions for liabilities

	2026	2025
	£	£
Net deferred tax liability (asset)	135,000	129,300
Total	135,000	129,300

14.

Pension commitments

The pension cost charge represents contributions payable by the company to the fund and amounted to £72,891 (2025: £56,666).

The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date, unpaid contributions of £NIL (2025: £10,097) were due to the fund. They are included in other creditors.

15.	Related party transactions
	Included within other creditors, due within one year, is an amount of £212,418 (2025 - £214,640) due to the directors. This balance is interest free and payable on demand.

16.	Parent-subsidiary relationships
	The company, and the group headed by it, qualify as a small group as such the parent and the group are exempt from producing group accounts. Linbob Limited is a 100% owned subsidiary of Leeds Graphic Press Ltd.

	Notes	2026		2025
		£	£	£	£
Fixed assets
Intangible assets	3		18,374		30,874
Tangible assets	4		1,834,333		1,833,780
Investments	5		100		40,200
			1,852,807		1,904,854
Current assets
Stocks	6	17,449		22,735
Debtors	7	274,535		395,862
Cash at bank and on hand		33,330		36,734
		325,314		455,331
Creditors amounts falling due within one year	8	(501,825)		(618,509)
Net current assets (liabilities)			(176,511)		(163,178)
Total assets less current liabilities			1,676,296		1,741,676
Creditors amounts falling due after one year	9		(695,527)		(721,737)
Provisions for liabilities	13		(135,000)		(129,300)
Net assets			845,769		890,639
Capital and reserves
Called up share capital			10,000		10,000
Profit and loss account			835,769		880,639
Shareholders' funds			845,769		890,639