Seriprint - Ziprip (UK) Limited - Limited company accounts 11.6

REGISTERED NUMBER: 04600740 (England and Wales)

Report of the Director and

Unaudited Financial Statements For The Year Ended 30 June 2014

for

Seriprint - Ziprip (UK) Limited

Page

Company Information

1

Report of the Director

2

Profit and Loss Account

3

Balance Sheet

4

Notes to the Financial Statements

6

DIRECTOR:

A W Goodyer

SECRETARY:

Gower Secretaries Limited

REGISTERED OFFICE:

Second Floor

4-5 Gough Square

London

EC4A 3DE

REGISTERED NUMBER:

04600740 (England and Wales)

ACCOUNTANTS:

Gower Accountancy

Chartered Certified Accountants

Second Floor

4-5 Gough Square

London

EC4A 3DE

The director presents his report with the financial statements of the company for the year ended 30 June 2014.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review continued to be that of providing printing services, PCB

testing, the sale of printers and license fees.

DIRECTOR

A W Goodyer held office during the whole of the period from 1 July 2013 to the date of this report.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating

to small companies.

ON BEHALF OF THE BOARD:

A W Goodyer - Director

1 February 2015

TURNOVER

143,055

223,887

Cost of sales

(68,454

)

(95,929

)

GROSS PROFIT

74,601

127,958

Administrative expenses

(79,166

)

(80,676

)

OPERATING (LOSS)/PROFIT

2

(4,565

)

47,282

Interest payable and similar charges

(3,918

)

(5,415

)

(LOSS)/PROFIT ON ORDINARY
ACTIVITIES BEFORE TAXATION

(8,483

)

41,867

Tax on (loss)/profit on ordinary activities

3

-

(LOSS)/PROFIT FOR THE FINANCIAL
YEAR

(8,483

)

41,867

FIXED ASSETS

Intangible assets

4

84,561

68,959

Tangible assets

5

4,079

3,855

88,640

72,814

CURRENT ASSETS

Stocks

28,431

30,083

Debtors

6

34,956

99,804

Cash at bank

1,462

3,445

64,849

133,332

CREDITORS

Amounts falling due within one year

7

(5,317

)

(46,094

)

NET CURRENT ASSETS

59,532

87,238

TOTAL ASSETS LESS CURRENT
LIABILITIES

148,172

160,052

CREDITORS

Amounts falling due after more than one
year

8

(142,410

)

(145,807

)

NET ASSETS

5,762

14,245

CAPITAL AND RESERVES

Called up share capital

9

100

Profit and loss account

10

5,662

14,145

SHAREHOLDERS' FUNDS

5,762

14,245

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2014 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The financial statements were approved by the director on 1 February 2015 and were signed by:

A W Goodyer - Director

1.	ACCOUNTING POLICIES

Accounting convention

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).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

All Property, plant and machinery are initially recorded at cost and any impairment in value. Cost include the

cost of installation and transportation.

Impairment losses and reversal of impairment losses are recognised in the income statement.

Depreciation is provided on the straight-line method to write off the cost of each asset, or the revalue amounts,

to their residual values over their estimated useful lives as follows:

- Plant and equipment 3 years

- Motor vehicles 4 years

- Furniture and fittings 6 years

Stocks

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

moving items.

Deferred tax

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

balance sheet date.

2.	OPERATING (LOSS)/PROFIT

The operating loss (2013 - operating profit) is stated after charging:

2014

2013

£

Depreciation - owned assets

1,752

1,201

Loss on disposal of fixed assets

1

215

Patents and licences amortisation

4,398

4,415

Foreign exchange differences

1,056

99

Director's remuneration and other benefits etc

-

3.

TAXATION

Analysis of the tax charge

No liability to UK corporation tax arose on ordinary activities for the year ended 30 June 2014 nor for the year

ended 30 June 2013.

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 July 2013

73,374

Additions

20,000

At 30 June 2014

93,374

AMORTISATION

At 1 July 2013

4,415

Charge for year

4,398

At 30 June 2014

8,813

NET BOOK VALUE

At 30 June 2014

84,561

At 30 June 2013

68,959

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 July 2013

9,770

Additions

1,977

Disposals

(253

)

At 30 June 2014

11,494

DEPRECIATION

At 1 July 2013

5,915

Charge for year

1,752

Eliminated on disposal

(252

)

At 30 June 2014

7,415

NET BOOK VALUE

At 30 June 2014

4,079

At 30 June 2013

3,855

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2014

2013

£

Trade debtors

33,921

98,217

Other debtors

1,035

1,587

34,956

99,804

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2014

2013

£

Bank loans and overdrafts

138

4,143

Trade creditors

5,179

41,951

5,317

46,094

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2014

2013

£

Bank loans

14,530

-

Other creditors

127,880

145,807

142,410

145,807

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

100

Ordinary

1

100

10.

RESERVES

Profit

and loss

account

£

At 1 July 2013

14,145

Deficit for the year

(8,483

)

At 30 June 2014

5,662