Print 4 Property Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC217045 (Scotland)

PRINT 4 PROPERTY LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2020

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C A Tait

N B Boyd

A Letham

G Rennie

SECRETARY:

C A Tait

REGISTERED OFFICE:

P4P Creative

93 Candleriggs

Glasgow

G1 1NP

REGISTERED NUMBER:

SC217045 (Scotland)

ACCOUNTANTS:

Benham Conway & Co

16 Royal Crescent

Glasgow

G3 7SL

FIXED ASSETS

Tangible assets

4

5,225

5,897

CURRENT ASSETS

Debtors

5

152,299

157,377

Cash at bank and in hand

5,522

2,988

157,821

160,365

CREDITORS

Amounts falling due within one year

6

106,532

105,015

NET CURRENT ASSETS

51,289

55,350

TOTAL ASSETS LESS CURRENT LIABILITIES

56,514

61,247

CREDITORS

Amounts falling due after more than one year

7

8,070

14,540

NET ASSETS

48,444

46,707

CAPITAL AND RESERVES

Called up share capital

150

150

Retained earnings

48,294

46,557

SHAREHOLDERS' FUNDS

48,444

46,707

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.

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 and authorised for issue on 8 January 2021 and were signed on its behalf by:

A Letham - Director

G Rennie - Director

1.	STATUTORY INFORMATION

Print 4 Property Limited is a private company, limited by shares , registered in Scotland. 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 represents sales of goods and services provided in the year, excluding value added tax.

Tangible fixed assets

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

Plant and machinery etc

-

25% on cost and 10% on cost

Financial instruments

Basic financial instruments, including trade and other payables and bank loans are initially recognised at transaction price and are subsequently carried at amortised cost, using the effective interest rate method.

Taxation

Taxation for the year comprises current 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 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.

Government grants

Government grants in respect of revenue expenditure are credited to the profit and loss account in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2019 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 May 2019

54,056

Additions

1,780

At 30 April 2020

55,836

DEPRECIATION

At 1 May 2019

48,159

Charge for year

2,452

At 30 April 2020

50,611

NET BOOK VALUE

At 30 April 2020

5,225

At 30 April 2019

5,897

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.20

30.4.19

£

£

Trade debtors

147,302

151,716

Other debtors

4,997

5,661

152,299

157,377

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.20

30.4.19

£

£

Bank loans and overdrafts

6,469

6,056

Trade creditors

295

8,997

Taxation and social security

42,066

45,732

Other creditors

57,702

44,230

106,532

105,015

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.20

30.4.19

£

£

Bank loans

8,070

14,540

8.	SECURED DEBTS

The following secured debts are included within creditors:

30.4.20

30.4.19

£

£

Bank loans

14,539

20,596

Other creditors

52,843

37,659

67,382

58,255

Included within other creditors is an amount of £52,843 (2019, £37,659) which has been drawn down under an invoice factoring agreement. Invoices issued under this agreement are subject to a bond and floating charge.

The company's bankers hold a bond and floating charge for all sums due. Two of the directors at 30 April 2020 and 30 April 2019 have provided the company's bankers with personal guarantees and securities for bank borrowings.

9.	OTHER FINANCIAL COMMITMENTS

At 30 April 2020 the company was committed to making total payments under non-cancellable operating leases of £31,628 (2019, £38,117).