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| Registered office | |
| Registered number | 11156170 |
| Notes |
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The financial statements were approved and authorised for issue by the Board of Directors on
Pearce, Scott Charles
Director |
Company registration number 11156170
The company is a private company limited by shares and registered in England and Wales. The companies registration number is 11156170. The registered office is Sopers House, Sopers Road, Cuffley, Hertfordshire, EN6 4RY.
The financial statements are presented in sterling and this is the functional currency of the company.
The financial statements have been prepared in accordance with FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
The financial statements have been prepared under the historical cost convention in accordance with the Companies Act 2006.
Turnover is the value of design, digital and print services supplied, excluding VAT. The company acts as principal and presents turnover gross. Print is recognised on delivery. Design and digital services are recognised by reference to the stage of completion of each job, measured by time spent against the time budgeted, where this can be measured reliably. Where it cannot, turnover is recognised when the job is completed, and direct costs on open jobs are carried forward as work in progress. At 31 January 2026 and 31 January 2025 the stage of completion could not be measured reliably, so turnover on open jobs was recognised on completion. Amounts invoiced on jobs not completed are carried forward as deferred income. Work completed but not yet invoiced is recognised as accrued income. Expected losses on jobs are recognised immediately.
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income.
Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
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.
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:
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Direct costs incurred on jobs not completed at the year end are carried forward as work in progress. They are stated at the lower of cost and estimated selling price less costs to complete. Costs on completed jobs for which supplier invoices have not been received are accrued.
During the year the company changed its accounting policy for turnover and work in progress. Previously, work in progress was carried at a valuation within stocks. Turnover and the related direct costs are now recognised when each job is completed, as described in note 2.2. The directors consider that the new policy gives more reliable and relevant information about the company's performance.
The change has been applied retrospectively and the comparatives restated. Net assets at 31 January 2025 have been reduced from £34,046 to £13,804 (£26,989 before deferred tax of £6,747). Profit after tax for the year ended 31 January 2025 increased from £82,134 to £85,718, and reserves at 1 February 2024 were reduced by £23,826. The adjustment is deductible for corporation tax in the year ended 31 January 2026 under CTA 2009 s180.
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At 1 February 2025, S C Pearce owed the company £845 and M Gamble owed £655. These balances were cleared during the year. No interest was charged, and no other advances, credits or guarantees were made to directors during the year. No amounts were owed by the directors at 31 January 2026 (2025: £1,500).