OVERPRINT_PACKAGING_LIMIT - Accounts

OVERPRINT LIMITED - Company Information

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Company Registration No. 01142229 (England and Wales)

OVERPRINT PACKAGING LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2014

OVERPRINT PACKAGING LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 5

OVERPRINT PACKAGING LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 DECEMBER 2014

- 1 -

2014

2013

Notes

Fixed assets

Intangible assets

535

713

Tangible assets

6,287

13,203

6,822

13,916

Current assets

Stocks

43,728

59,079

Debtors

131,852

121,580

Cash at bank and in hand

2,299

5,191

177,879

185,850

Creditors: amounts falling due within one year

(130,805)

(143,830)

Net current assets

47,074

42,020

Total assets less current liabilities

53,896

55,936

Creditors: amounts falling due after more than one year

(767)

(6,423)

Provisions for liabilities

(764)

(2,551)

52,365

46,962

Capital and reserves

Called up share capital

50,000

Profit and loss account

2,365

(3,038)

Shareholders' funds

52,365

46,962

OVERPRINT PACKAGING LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 DECEMBER 2014

- 2 -

For the financial year ended 31 December 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 23 July 2015

Mr P Anderson

Director

Company Registration No. 01142229

OVERPRINT PACKAGING LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2014

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

No material uncertainties that may cast significant doubt about the ability of the company to continue as a going concern have been identified by the directors. On this basis the accounts have been prepared on a going concern basis.

1.2

Turnover

Turnover represents amounts receivable for services of design and manufacture of coding equipment net of VAT.

1.3

Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

Reducing balance 25%

Fixtures, fittings & equipment

Reducing balance 25%

Motor vehicles

Reducing balance 25%

1.5

Leasing and hire purchase commitments

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

1.6

Stock

Stock is valued at the lower of cost and net realisable value.

1.7

Pensions

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.

1.8

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

1.9

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

OVERPRINT PACKAGING LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2014

- 4 -

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 January 2014

9,500

242,241

251,741

Additions

404

Disposals

(16,514)

At 31 December 2014

9,500

226,131

235,631

Depreciation

At 1 January 2014

8,787

229,037

237,824

On disposals

(12,595)

Charge for the year

178

3,402

3,580

At 31 December 2014

8,965

219,844

228,809

Net book value

At 31 December 2014

535

6,287

6,822

At 31 December 2013

713

13,203

13,916

Share capital

2014

2013

Allotted, called up and fully paid

50,000 Ordinary Shares of £1 each

50,000

Transactions with directors

As at the balance sheet date the company's indebtedness to G Anderson a director of the company was £14,888 (2013: £19,861) and K Anderson's indebtedness to the company was £48,489 (2013.: £37,870).

Control

The ultimate controlling parties are the company's directors.

Related party relationships and transactions

OVERPRINT PACKAGING LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2014

Related party relationships and transactions

(Continued)

- 5 -

Transactions in relation to loans with directors during the year are outlined in the table below:

Description

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

Director's loan

3.25

37,870

10,619

2,915

51,404

37,870

10,619

2,915

51,404