Cazenove Printers Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07148301 (England and Wales)

Financial Statements

for the Year Ended 28 February 2019

for

CAZENOVE PRINTERS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Director:

Mr K Cohen

Registered office:

305 Regents Park Road

Finchley

London

N3 1DP

Registered number:

07148301 (England and Wales)

Accountants:

Haines Watts

Chartered Accountants

305 Regents Park Road

Finchley

London

N3 1DP

Fixed assets

Intangible assets

4

3,250

6,250

Tangible assets

5

62,395

3,577

65,645

9,827

Current assets

Stocks

6

152,586

94,117

Debtors

7

104,907

67,168

Cash at bank and in hand

13,574

32,480

271,067

193,765

Creditors

Amounts falling due within one year

8

210,211

138,325

Net current assets

60,856

55,440

Total assets less current liabilities

126,501

65,267

Creditors

Amounts falling due after more than one year

9

(5,190

)

-

Provisions for liabilities

(2,289

)

(680

)

Net assets

119,022

64,587

Capital and reserves

Called up share capital

11

1

1

Retained earnings

119,021

64,586

Shareholders' funds

119,022

64,587

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2019 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 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director on 27 November 2019 and were signed by:

Mr K Cohen - Director

1.	Statutory information

Cazenove Printers 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Key source of estimation, uncertainty and judgement

The preparation of financial statements in conformity with generally accepted accounting practice requires

management to make estimates and judgement that affect the reported amounts of assets and liabilities as well

as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of

revenues and expenses during the reporting period.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is

carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as

accurate as possible, there remains a risk that the provision do not match the level of debts which ultimately

prove to be uncollectable.

There is estimation uncertainty in calculating depreciation. A review of fixed assets is carried out by

management. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible,

there remains a risk that the policy does not match the useful economic life of the assets.

There is estimation uncertainty in calculating deferred tax. A review of the provision for future taxation is

carried out by management. Whilst every attempt is made to ensure that the deferred tax is accurate as

possible, there remains a risk that the provisions do not match the actual tax liability when an asset is disposed

off.

There is estimation uncertainty in calculating stock provision. A full line by line review of stock is carried out

at the end of each month. Whilst every attempt is made to ensure that the stock provision is as accurate as

possible, there remains a risk that the provision does not match the level of stock which ultimately prove to be

obsolete.

Turnover

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

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of ten 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

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

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

slow moving items.

Financial instruments

Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party

to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial

recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the

effective interest rate method. A provision is established when there is objective evidence that the company will

not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank.

Financial liabilities and equity instruments issued by the company are classified in accordance with the

substance of the contractual arrangements entered into and the definitions of a financial liability and an equity

instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company

after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds

received, net of direct issue costs.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account,

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange

ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating

result.

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.

Rentals paid under operating leases are charged to profit and loss on a straight line basis over the period of the

lease.

3.	Employees and directors

The average number of employees during the year was 1 (2018 - 1 ) .

4.	Intangible fixed assets

Goodwill

£

Cost

At 1 March 2018

and 28 February 2019

30,000

Amortisation

At 1 March 2018

23,750

Amortisation for year

3,000

At 28 February 2019

26,750

Net book value

At 28 February 2019

3,250

At 28 February 2018

6,250

5.	Tangible fixed assets

Fixtures

Freehold

Plant and

and

Computer

property

machinery

fittings

equipment

Totals

£

£

£

£

£

Cost

At 1 March 2018

-

-

819

6,384

7,203

Additions

50,347

8,500

3,987

-

62,834

At 28 February 2019

50,347

8,500

4,806

6,384

70,037

Depreciation

At 1 March 2018

-

-

638

2,988

3,626

Charge for year

-

2,125

1,042

849

4,016

At 28 February 2019

-

2,125

1,680

3,837

7,642

Net book value

At 28 February 2019

50,347

6,375

3,126

2,547

62,395

At 28 February 2018

-

-

181

3,396

3,577

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

Plant and

machinery

£

Cost

Additions

8,500

At 28 February 2019

8,500

Depreciation

Charge for year

2,125

At 28 February 2019

2,125

Net book value

At 28 February 2019

6,375

6.

Stocks

2019

2018

£

£

Stocks

152,586

94,117

7.

Debtors: amounts falling due within one year

2019

2018

£

£

Trade debtors

68,631

66,808

Other debtors

36,276

360

104,907

67,168

8.

Creditors: amounts falling due within one year

2019

2018

£

£

Hire purchase contracts (see note 10)

2,708

-

Trade creditors

75,338

13,063

Taxation and social security

11,118

11,153

Other creditors

121,047

114,109

210,211

138,325

9.

Creditors: amounts falling due after more than one year

2019

2018

£

£

Hire purchase contracts (see note 10)

5,190

-

10.	Leasing agreements

Minimum lease payments fall due as follows:

Hire purchase contracts

2019

2018

£

£

Net obligations repayable:

Within one year

2,708

-

Between one and five years

5,190

-

7,898

-

Non-cancellable

operating leases

2019

2018

£

£

Within one year

-

3,755

Between one and five years

-

313

-

4,068

11.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

1

Ordinary

£1

1

1

12.	Related party disclosures

During the year, the company had use of a property provided rent free by the director.