Origin Print Solutions Limited Filleted accounts for Companies House (small and micro)

ORIGIN PRINT SOLUTIONS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 05535263

Origin Print Solutions Limited

Filleted Unaudited Financial Statements

31 October 2020

Origin Print Solutions Limited

Statement of Financial Position

31 October 2020

	2020		2019
Note	£	£	£

Fixed assets

Tangible assets	5		27,398	34,276

Current assets

Stocks		43,239	43,600
Debtors	6	382,135	394,831
Cash at bank and in hand		557,830	422,432
		---------	---------
		983,204	860,863

Creditors: amounts falling due within one year	7	298,372		328,401
		---------		---------
Net current assets			684,832	532,462
			---------	---------
Total assets less current liabilities			712,230	566,738
			---------	---------
Net assets			712,230	566,738
			---------	---------

Capital and reserves

Called up share capital	120	120
Profit and loss account	712,110	566,618
	---------	---------
Shareholders funds	712,230	566,738
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.

For the year ending 31 October 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Origin Print Solutions Limited

Statement of Financial Position (continued)

31 October 2020

These financial statements were approved by the board of directors and authorised for issue on 10 December 2020 , and are signed on behalf of the board by:

S Avery
Director

Company registration number: 05535263

Origin Print Solutions Limited

Notes to the Financial Statements

Year ended 31 October 2020

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Deanway Technology Centre 2, Wilmslow Road, Wilmslow, SK9 3HW.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures, Fittings and Equipment	-	10% and 25% reducing balance
Motor Vehicles	-	25% reducing balance

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 5 (2019: 5 ).

5. Tangible assets

	Fixtures and fittings	Motor vehicles	Total
	£	£	£
Cost
At 1 November 2019	18,767	73,007	91,774
Additions	1,250	–	1,250
	--------	--------	--------
At 31 October 2020	20,017	73,007	93,024
	--------	--------	--------
Depreciation
At 1 November 2019	14,835	42,663	57,498
Charge for the year	542	7,586	8,128
	--------	--------	--------
At 31 October 2020	15,377	50,249	65,626
	--------	--------	--------
Carrying amount
At 31 October 2020	4,640	22,758	27,398
	--------	--------	--------
At 31 October 2019	3,932	30,344	34,276
	--------	--------	--------

6. Debtors

	2020	2019
	£	£
Trade debtors	208,223	219,785
Other debtors	173,912	175,046
	---------	---------
	382,135	394,831
	---------	---------

7. Creditors: amounts falling due within one year

	2020	2019
	£	£
Trade creditors	151,844	116,358
Corporation tax	55,962	46,766
Social security and other taxes	16,648	17,446
Other creditors	73,918	147,831
	---------	---------
	298,372	328,401
	---------	---------

8. Director's advances, credits and guarantees

During the year Mr S Avery took loans from the company and the amount of £127,678 was outstanding at the year end. Interest was charged on the loans at approved rates.