Prime Print Group Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02233931 (England and Wales)

PRIME PRINT GROUP LIMITED

Unaudited Financial Statements

for the Year Ended 30 June 2019

Page

Company Information

1

Report of the Accountants

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

J Tolley

A G Tolley

SECRETARY:

B K Geldart

REGISTERED OFFICE:

Unit 8

Burma Road

Blidworth

Mansfield

Nottinghamshire

NG21 ORT

REGISTERED NUMBER:

02233931 (England and Wales)

ACCOUNTANTS:

Keith Willis Associates Limited

Gothic House

Barker Gate

Nottingham

Nottinghamshire

NG1 1JU

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and

the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 30 June 2019 set out on pages four to ten and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Keith Willis Associates Limited

Gothic House

Barker Gate

Nottingham

Nottinghamshire

NG1 1JU

9 September 2019

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

2,044,507

1,771,379

Investments

6

232

232

2,044,739

1,771,611

CURRENT ASSETS

Stocks

75,584

74,067

Debtors

7

909,856

653,240

Cash at bank and in hand

1,243

662

986,683

727,969

CREDITORS

Amounts falling due within one year

8

1,565,329

1,403,214

NET CURRENT LIABILITIES

(578,646

)

(675,245

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,466,093

1,096,366

CREDITORS

Amounts falling due after more than one year

9

1,116,800

750,606

NET ASSETS

349,293

345,760

CAPITAL AND RESERVES

Called up share capital

1,120

1,120

Retained earnings

11

348,173

344,640

SHAREHOLDERS' FUNDS

349,293

345,760

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 9 September 2019 and were signed on its behalf by:

J Tolley - Director

1.	STATUTORY INFORMATION

Prime Print Group Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on reducing balance and at varying rates on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws

that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal

of the timing difference.

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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those

held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance

leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 63 (2018 - 66 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 July 2018

and 30 June 2019

30,000

AMORTISATION

At 1 July 2018

and 30 June 2019

30,000

NET BOOK VALUE

At 30 June 2019

-

At 30 June 2018

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Short

Plant and

and

Motor

leasehold

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 July 2018

55,342

3,602,451

91,428

29,042

3,778,263

Additions

-

1,464,405

21,019

-

1,485,424

Disposals

-

(1,829,460

)

-

(14,669

)

(1,844,129

)

At 30 June 2019

55,342

3,237,396

112,447

14,373

3,419,558

DEPRECIATION

At 1 July 2018

55,342

1,889,325

45,371

16,846

2,006,884

Charge for year

-

347,017

12,005

2,211

361,233

Eliminated on disposal

-

(982,563

)

-

(10,503

)

(993,066

)

At 30 June 2019

55,342

1,253,779

57,376

8,554

1,375,051

NET BOOK VALUE

At 30 June 2019

-

1,983,617

55,071

5,819

2,044,507

At 30 June 2018

-

1,713,126

46,057

12,196

1,771,379

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 July 2018

2,201,374

14,373

2,215,747

Additions

1,431,795

-

1,431,795

Disposals

(1,642,000

)

-

(1,642,000

)

Transfer to ownership

(152,495

)

-

(152,495

)

Reclassification/transfer

298,845

-

298,845

At 30 June 2019

2,137,519

14,373

2,151,892

DEPRECIATION

At 1 July 2018

903,571

6,622

910,193

Charge for year

237,149

1,932

239,081

Eliminated on disposal

(831,372

)

-

(831,372

)

Transfer to ownership

(58,679

)

-

(58,679

)

Reclassification/transfer

173,971

-

173,971

At 30 June 2019

424,640

8,554

433,194

NET BOOK VALUE

At 30 June 2019

1,712,879

5,819

1,718,698

At 30 June 2018

1,297,803

7,751

1,305,554

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 July 2018

and 30 June 2019

232

NET BOOK VALUE

At 30 June 2019

232

At 30 June 2018

232

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

769,016

524,957

Amounts owed by participating interests

1,200

-

Other debtors

139,640

128,283

909,856

653,240

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

76,432

133,229

Hire purchase contracts

264,429

286,191

Trade creditors

445,411

467,876

Taxation and social security

69,105

90,255

Other creditors

709,952

425,663

1,565,329

1,403,214

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Bank loans

6,236

-

Hire purchase contracts

1,110,564

750,606

1,116,800

750,606

10.	SECURED DEBTS

The following secured debts are included within creditors:

2019

2018

£

£

Bank overdrafts

51,424

133,229

Bank loans

31,244

-

82,668

133,229

A charge was registered with HSBC Equipment Finance (UK) LTD and HSBC Asset Finance (UK) LTD on 3

December 2015 for the legal assignment of contract monies.

HSBC Bank PLC registered a charge on 21 January 2011 on all monies due or to become due from the

company to the chargee on any account whatsoever.

A fixed charge and floating charge was registered with HSBC Invoice Finance (UK) Ltd on 20 February 2006 by

way of fixed equitable charge on purchased debts which fail to vest and by way of floating charge on all assets.

HSBC Bank PLC registered fixed and floating charges on 20 October 2004 over the undertaking and all property

and assets present and future including goodwill, book debts, uncalled capital, buildings, fixtures, fixed plant and

machinery.

11.

RESERVES

Retained

earnings

£

At 1 July 2018

344,640

Profit for the year

53,140

Dividends

(49,607

)

At 30 June 2019

348,173