Abbreviated Company Accounts - PRINT IDEAS LIMITED

PRINT IDEAS LIMITED - Company Information

Registered Number 05697757

PRINT IDEAS LIMITED

Abbreviated Accounts

31 July 2014

PRINT IDEAS LIMITED Registered Number 05697757

Abbreviated Balance Sheet as at 31 July 2014

	Notes	2014	2013
		£	£
Fixed assets
Tangible assets	2	6,313	5,372
		6,313	5,372
Current assets
Stocks		14,666	12,254
Debtors		36,614	38,921
Cash at bank and in hand		2,104	451
		53,384	51,626
Creditors: amounts falling due within one year		(85,416)	(84,415)
Net current assets (liabilities)		(32,032)	(32,789)
Total assets less current liabilities		(25,719)	(27,417)
Provisions for liabilities		(1,263)	(1,074)
Total net assets (liabilities)		(26,982)	(28,491)
Capital and reserves
Called up share capital		2	2
Profit and loss account		(26,984)	(28,493)
Shareholders' funds		(26,982)	(28,491)

For the year ending 31 July 2014 the company was entitled to exemption 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 Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 18 February 2015

And signed on their behalf by:
M DALY, Director
N J WAYNE, Director

PRINT IDEAS LIMITED Registered Number 05697757

Notes to the Abbreviated Accounts for the period ended 31 July 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The financial statements have been prepared on the going concern basis. The directors consider the going concern basis to be appropriate as they have confirmed their ongoing financial support of the company.

Turnover policy
Turnover comprises revenue recognised by the company in respect of goods supplied during the year, exclusive of Value Added Tax.

Tangible assets depreciation policy
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Plant & Machinery - 15 % reducing balance basis
Equipment - 15 % reducing balance basis

2Tangible fixed assets

	£
Cost
At 1 August 2013	9,879
Additions	2,054
Disposals	-
Revaluations	-
Transfers	-
At 31 July 2014	11,933
Depreciation
At 1 August 2013	4,507
Charge for the year	1,113
On disposals	-
At 31 July 2014	5,620
Net book values
At 31 July 2014	6,313
At 31 July 2013	5,372