Printwell (North East) Ltd Accounts

PRINTWELL (NORTH EAST) LTD - Company Information






Printwell (North East) Ltd

	Company No. 04809681
		Information for Filing with The Registrar
		31 July 2021

The Directors present their report and the accounts for the year ended 31 July 2021.

Principal activities
The principal activity of the company during the year under review was Printers.




Directors

The Directors who served at any time during the year were as follows:

John Sweeney
Kirsty Sweeney




































































The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.

Signed on behalf of the board

John Sweeney
Director
31 July 2021

at	31 July 2021
Company No.		04809681	Notes	2021	2020
				£	£
Fixed assets

	Tangible assets		4	76,423	74,715


				76,423	74,715
Current assets
	Stocks		5	6,200	6,200
	Debtors		6	53,483	39,361

	Cash at bank and in hand			49,724	72,517
				109,407	118,078
Creditors: Amount falling due within one year			7	(113,329)	(123,382)
Net current liabilities				(3,922)	(5,304)
Total assets less current liabilities				72,501	69,411
Creditors: Amounts falling due after more than one year			8	(103,133)	(113,114)



Net liabilities				(30,632)	(43,703)

Capital and reserves
	Called up share capital			100	100



	Profit and loss account		9	(30,732)	(43,803)

Total equity				(30,632)	(43,703)



These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.

For the year ended 31 July 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.



As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.

Approved by the board on 31 July 2021
And signed on its behalf by:
John Sweeney
Director
31 July 2021

for the year ended 31 July 2021

General information

Its registered number is: 04809681

Its registered office is:

Its trading address is:

Printwell North East Ltd

Suite1R, Enterprise House

Suite1R,Enterprise House

Valley Street North

Darlington

DL1 1GY

The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.

The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland (March 2018) and the Companies Act 2006.

Accounting policies

Turnover

Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.

Tangible fixed assets and depreciation

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.

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

Plant and machinery

15% Reducing Balance

Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.

Trade and other creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3	Employees
			2021	2020
			Number	Number
		The average monthly number of employees (including directors) during the year was:	5	5

4	Tangible fixed assets
			Plant and machinery	Fixtures, fittings and equipment	Total
			£	£	£
		Cost or revaluation
		At 1 August 2020	180,742	55,977	236,719
		Additions	-	1,708	1,708



		At 31 July 2021	180,742	57,685	238,427
		Depreciation
		At 1 August 2020	111,579	50,425	162,004




		At 31 July 2021	111,579	50,425	162,004
		Net book values
		At 31 July 2021	69,163	7,260	76,423
		At 31 July 2020	69,163	5,552	74,715

5	Stocks
			2021	2020
			£	£
		Raw materials and consumables	6,200	6,200


			6,200	6,200

6	Debtors
			2021	2020
			£	£
		Trade debtors	50,043	21,140





		Other debtors	3,440	18,212
		Prepayments and accrued income	-	9
			53,483	39,361

7	Creditors:
		amounts falling due within one year
			2021	2020
			£	£

		Bank loans and overdrafts	21,711	39,317


		Trade creditors	41,533	29,570

		Corporation tax	17,952	25,323
		Other taxes and social security	30,574	26,936

		Other creditors	105	781
		Accruals and deferred income	1,454	1,455
			113,329	123,382

8	Creditors:
		amounts falling due after more than one year
			2021	2020
			£	£


		Other loans	103,133	113,114





			103,133	113,114

Reserves

Profit and loss account - includes all current and prior period retained profits and losses.

10	Commitments

		Capital commitments	2021	2020
			£	£


		Other financial commitments
			2021	2020
			£	£




		Pension commitments
		Company complies with Auto-enrolment using the Nest Pension Scheme

11	Dividends
			2021	2020
			£	£
		Dividends for the period:
		Dividends paid in the period	65,310	59,110

			65,310	59,110

		Dividends by type:

		Equity dividends	65,310	59,110
			65,310	59,110