Econoprint (UK) Limited Accounts

ECONOPRINT (U.K.) LIMITED - Company Information






Econoprint (UK) Limited
	Company No. 01604452
		Information for Filing with The Registrar
		31 March 2019

at	31 March 2019
Company No.		01604452	Notes	2019	2018
				£	£
Fixed assets

	Tangible assets		2	26,244	28,471

	Investments		3	29,769	42,049
				56,013	70,520
Current assets
	Stocks		4	749	532
	Debtors		5	199,437	187,552

	Cash at bank and in hand			1,017,864	1,002,427
				1,218,050	1,190,511
Creditors: Amount falling due within one year			6	(304,618)	(294,802)
Net current assets				913,432	895,709
Total assets less current liabilities				969,445	966,229

Provisions for liabilities
	Deferred taxation		7	(658)	(139)

Net assets				968,787	966,090

Capital and reserves
	Called up share capital			1,250	1,250


	Capital redemption reserve		8	8,750	8,750
	Profit and loss account		8	958,787	956,090

Total equity				968,787	966,090


These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.

Approved by the board on 23 April 2019
And signed on its behalf by:
C. Siebert
Director

for the year ended 31 March 2019

Accounting policies

Basis of preparation

The accounts have been prepared in accordance with FRS 102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Companies Act 2006 . There were no material departures from that standard.

The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets and in accordance with the accounting policies set out below.

Turnover

Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.

Taxation

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

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

Tangible fixed assets and depreciation

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.

Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:

Freehold buildings

10% straight line

Motor vehicles

25% on reducing balance

Furniture, fittings and equipment

50%, 33% and 20% straight line

Investments

Unlisted investments are recognised initially at fair value less attributable transaction costs. Subsequent to initial recognition, any changes in fair value are recognised in profit and loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of inventories recognised as an expense in the period in which the reversal occurs.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.

Trade and other creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Foreign currencies

Transactions in currencies, other than the functional currency of the Company, are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. all differences are taken to the profit and loss account. Non-monetary items that are measured at historic cost in a foreign currency are not retranslated.

Leased assets

Where the company enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.
Leases which do not transfer substantially all the risks and rewards of ownership to the Company are classified as operating leases.
Assets held under finance leases are initially recognised as assets of the Company at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately in profit or loss, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the Company's policy on borrowing costs (see the accounting policy above).
Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term.

In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

Pensions

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 payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Provisions

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the balance sheet.

2	Tangible fixed assets
			Motor vehicles	Fixtures, fittings and equipment	Total
			£	£	£
		Cost or revaluation
		At 1 April 2018	71,096	156,587	227,683
		Additions	-	9,836	9,836



		At 31 March 2019	71,096	166,423	237,519
		Depreciation
		At 1 April 2018	55,438	143,774	199,212
		Charge for the year	3,915	8,148	12,063



		At 31 March 2019	59,353	151,922	211,275
		Net book values
		At 31 March 2019	11,743	14,501	26,244
		At 31 March 2018	15,658	12,813	28,471

3	Investments
			Other investments - Listed	Total
			£	£
		Cost or valuation
		At 1 April 2018	42,049	42,049
		Additions	2,653	2,653

		Disposals	(5,590)	(5,590)
		At 31 March 2019	39,112	39,112
		Provisions/Impairment

		Impairment loss	9,343	9,343


		At 31 March 2019	9,343	9,343
		Net book values
		At 31 March 2019	29,769	29,769
		At 31 March 2018	42,049	42,049

4	Stocks
			2019	2018
			£	£


		Finished goods	749	532
			749	532

5	Debtors
			2019	2018
			£	£
		Trade debtors	177,647	171,541






		Prepayments and accrued income	21,790	16,011
			199,437	187,552

6	Creditors:
		amounts falling due within one year
			2019	2018
			£	£




		Trade creditors	187,186	168,100

		Corporation tax	55,140	75,059
		Other taxes and social security	30,971	28,265


		Accruals and deferred income	31,321	23,378
			304,618	294,802

7	Provisions for liabilities
		Deferred taxation

			Accelerated Capital Allowances, Losses and Other Timing Differences	Total
			£	£
		At 1 April 2018	139	139
		Charge to the profit and loss account for the period	519	519

		At 31 March 2019	658	658



			2019	2018
			£	£
		Accelerated capital allowances	658	139



			658	139

8	Reserves
			Capital redemption reserve	Total other reserves
			£	£
		At 1 April 2017	8,750	8,750



		At 31 March 2018 and 1 April 2018	8,750	8,750



		At 31 March 2019	8,750	8,750


		Capital redemption reserve - records the nominal value of shares repurchased by the company.

		Profit and loss account - includes all current and prior period retained profits and losses.

9	Dividends
			2019	2018
			£	£
		Dividends for the period:
		Dividends paid in the period	223,776	194,708

			223,776	194,708

		Dividends by type:

		Equity dividends	223,776	194,708
			223,776	194,708

Related party disclosures

Controlling parties

Immediate controlling parties

C J Siebert and N A Siebert

Ultimate controlling party

C J Siebert and N A Siebert

Additional information

Its registered number is:

01604452

Its registered office is:

3 Cooper Drive

Braintree

Essex

CM7 2RF

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