ATec Print Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06875789 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2020

FOR

ATEC PRINT LTD

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A. Wright

Mrs L. Wright

D. J. J. Wright

Miss L. L. L. Wright

A. A. R. Wright

SECRETARY:

Mrs L. Wright

REGISTERED OFFICE:

Buckley House

6-9 Buckley House Industrial Estate

Rochdale

Lancashire

OL12 9EF

REGISTERED NUMBER:

06875789 (England and Wales)

ACCOUNTANTS:

Wyatt, Morris, Golland Ltd

Park House

200 Drake Street

Rochdale

Lancashire

OL16 1PJ

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

77,582

83,449

77,582

83,449

CURRENT ASSETS

Stocks

35,697

26,948

Debtors

227,038

170,046

Cash at bank and in hand

28,520

8,462

291,255

205,456

CREDITORS

Amounts falling due within one year

288,987

229,930

NET CURRENT ASSETS/(LIABILITIES)

2,268

(24,474

)

TOTAL ASSETS LESS CURRENT LIABILITIES

79,850

58,975

PROVISIONS FOR LIABILITIES

13,821

14,877

NET ASSETS

66,029

44,098

CAPITAL AND RESERVES

Called up share capital

6

103

103

Retained earnings

65,926

43,995

SHAREHOLDERS' FUNDS

66,029

44,098

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2020 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.

All the members have consented to the preparation of an abridged Statement of Income and Retained Earnings and an abridged Balance Sheet for the year ended 30 April 2020 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 21 January 2021 and were signed on its behalf by:

A. Wright - Director

Mrs L. Wright - Director

1.	STATUTORY INFORMATION

ATec Print Ltd 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.

Goodwill

Goodwill of £85,000 paid in connection with the acquisition of a business in 2009 is being amortised evenly over

its estimated useful life of ten years.

Goodwill of £1,000 paid in connection with the acquisition of a business in 2011 was fully amortised in the year

of acquisition.

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.

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

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

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.

Taxation

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

Retained Earnings, 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.

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 12 (2019 - 11 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 May 2019

and 30 April 2020

86,000

AMORTISATION

At 1 May 2019

and 30 April 2020

86,000

NET BOOK VALUE

At 30 April 2020

-

At 30 April 2019

-

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 May 2019

216,996

Additions

9,550

At 30 April 2020

226,546

DEPRECIATION

At 1 May 2019

133,547

Charge for year

15,417

At 30 April 2020

148,964

NET BOOK VALUE

At 30 April 2020

77,582

At 30 April 2019

83,449

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

Totals

£

COST

At 1 May 2019

45,588

Transfer to ownership

(45,588

)

At 30 April 2020

-

DEPRECIATION

At 1 May 2019

21,791

Transfer to ownership

(21,791

)

At 30 April 2020

-

NET BOOK VALUE

At 30 April 2020

-

At 30 April 2019

23,797

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

100

Ordinary A

£1

100

100

1

Ordinary B

£1

1

1

1

Ordinary C

£1

1

1

1

Ordinary D

£1

1

1

103

103

7.	ULTIMATE CONTROLLING PARTY

Mr A Wright and Mrs L Wright have control of the company by virtue of owning 100% of the ordinary A shares.