Blackmore Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03260753 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 June 2020

for

Blackmore Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr A J Robbins

Mr N J Hunt

Mr S West

REGISTERED OFFICE:

Longmead Industrial Estate

Shaftesbury

Dorset

SP7 8PX

REGISTERED NUMBER:

03260753 (England and Wales)

ACCOUNTANTS:

Ward Goodman Audit Services Ltd

4 Cedar Park

Ferndown Industrial Estate

Wimborne

Dorset

BH21 7SF

FIXED ASSETS

Intangible assets

4

1,159,515

-

Tangible assets

5

1,838,215

1,980,663

Investments

6

449,600

1,785,000

3,447,330

3,765,663

CURRENT ASSETS

Stocks

7

200,690

277,139

Debtors

8

620,412

1,336,278

Cash at bank and in hand

40,731

138,657

861,833

1,752,074

CREDITORS

Amounts falling due within one year

9

1,809,995

3,051,956

NET CURRENT LIABILITIES

(948,162

)

(1,299,882

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,499,168

2,465,781

CREDITORS

Amounts falling due after more than one year

10

(1,343,942

)

(942,366

)

PROVISIONS FOR LIABILITIES

14

(258,837

)

(274,035

)

NET ASSETS

896,389

1,249,380

CAPITAL AND RESERVES

Called up share capital

15

684,000

684,000

Retained earnings

16

212,389

565,380

SHAREHOLDERS' FUNDS

896,389

1,249,380

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 29 June 2021 and were signed on its behalf by:

Mr A J Robbins - Director

1.	STATUTORY INFORMATION

Blackmore Limited 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.

The Company meets its day to day working capital requirements through facilities provided by its bankers and the Company's forecasts and projections show that the Company is able to operate within its current facilities.The directors have considered cashflow forecasts for the 12 month period from the date of approval of the financial statements.The forecasts show that the company is able to meet its debts as they fall due for the foreseeable future and on the basis of these forecasts the directors consider it appropriate to prepare the financial statements on a going concern basis.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with other members of the group.

Significant judgements and estimates

There are no significant sources of judgement and estimations during this and the previous year.

Turnover

Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.

All turnover arises from the principal activity in the UK.

Turnover is recognised at the completion of each printing assignment.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of ten years.

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 the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Long leasehold

-

20% on cost

Plant and machinery

-

25% on cost and Straight line over 5 years

Fixtures and fittings

-

20% on cost and 15% on cost

Government grants

Government grants shall be recognised in profit or loss on a systematic basis over the periods in which the entity recognises as expenses the related costs for which the grants are intended to compensate.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Raw materials - cost of purchase on a first in, first out basis.

Work in progress - cost of raw materials and labour together with attributable overheads.

Net realisable value is based on estimated selling price less further costs to completion and disposal.

Taxation

Taxation for the year comprises current and deferred 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 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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 70 (2019 - 75 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

Reclassification/transfer

1,335,400

At 30 June 2020

1,335,400

AMORTISATION

Charge for year

175,885

At 30 June 2020

175,885

NET BOOK VALUE

At 30 June 2020

1,159,515

5.	TANGIBLE FIXED ASSETS

Fixtures

Long

Plant and

and

leasehold

machinery

fittings

Totals

£

£

£

£

COST

At 1 July 2019

192,185

4,595,289

448,208

5,235,682

Additions

3,126

21,887

51,808

76,821

At 30 June 2020

195,311

4,617,176

500,016

5,312,503

DEPRECIATION

At 1 July 2019

177,856

2,645,159

432,004

3,255,019

Charge for year

6,000

201,256

12,013

219,269

At 30 June 2020

183,856

2,846,415

444,017

3,474,288

NET BOOK VALUE

At 30 June 2020

11,455

1,770,761

55,999

1,838,215

At 30 June 2019

14,329

1,950,130

16,204

1,980,663

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

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 July 2019

2,671,882

-

2,671,882

Additions

-

46,247

46,247

At 30 June 2020

2,671,882

46,247

2,718,129

DEPRECIATION

At 1 July 2019

1,175,952

-

1,175,952

Charge for year

150,454

3,720

154,174

At 30 June 2020

1,326,406

3,720

1,330,126

NET BOOK VALUE

At 30 June 2020

1,345,476

42,527

1,388,003

At 30 June 2019

1,495,930

-

1,495,930

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 July 2019

1,785,000

Reclassification/transfer

(1,335,400

)

At 30 June 2020

449,600

NET BOOK VALUE

At 30 June 2020

449,600

At 30 June 2019

1,785,000

7.

STOCKS

2020

2019

£

£

Stocks

136,780

116,572

Work-in-progress

63,910

160,567

200,690

277,139

8.

DEBTORS

2020

2019

£

£

Amounts falling due within one year:

Trade debtors

406,954

1,125,273

Other debtors

3,154

2,830

Tax

31,774

-

VAT

10,430

36,109

Prepayments

158,100

169,638

610,412

1,333,850

Amounts falling due after more than one year:

Amounts owed by group undertakings

10,000

2,428

Aggregate amounts

620,412

1,336,278

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts (see note 11)

83,581

-

Hire purchase contracts (see note 12)

271,468

268,801

Trade creditors

904,365

1,668,072

Social security and other taxes

159,636

50,516

Other creditors

8,451

25,880

Other loans

212,917

874,811

Accrued expenses

169,577

163,876

1,809,995

3,051,956

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Bank loans (see note 11)

415,919

-

Hire purchase contracts (see note 12)

928,023

942,366

1,343,942

942,366

11.

LOANS

An analysis of the maturity of loans is given below:

2020

2019

£

£

Amounts falling due within one year or on demand:

Bank loans

83,581

-

Amounts falling due between two and five years:

Bank loans - 2-5 years

415,919

-

12.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

2020

2019

£

£

Gross obligations repayable:

Within one year

372,575

366,527

Between one and five years

1,021,523

1,082,813

1,394,098

1,449,340

Finance charges repayable:

Within one year

101,107

97,726

Between one and five years

93,500

140,447

194,607

238,173

Net obligations repayable:

Within one year

271,468

268,801

Between one and five years

928,023

942,366

1,199,491

1,211,167

Non-cancellable operating

leases

2020

2019

£

£

Within one year

161,623

138,063

Between one and five years

615,774

527,397

In more than five years

1,500,000

187,500

2,277,397

852,960

13.	SECURED DEBTS

The following secured debts are included within creditors:

2020

2019

£

£

Hire purchase contracts

1,199,491

1,211,167

Hire purchase creditors are secured against the assets to which they relate.

Other loans are secured against the trade debtors of the company.

14.	PROVISIONS FOR LIABILITIES

2020

2019

£

£

Deferred tax

258,837

274,035

Deferred

tax

£

Balance at 1 July 2019

274,035

Provided during year

(15,198

)

Balance at 30 June 2020

258,837

15.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

648,000

Ordinary

1

684,000

684,000

16.

RESERVES

Retained

earnings

£

At 1 July 2019

565,380

Deficit for the year

(352,991

)

At 30 June 2020

212,389

17.	CONTINGENT LIABILITIES

The company had guaranteed certain borrowings of other previous group companies. Outstanding liabilities falling within the scope of the guarantee amounted to £708,566 in 2019. These guarantees are no longer in place under the new group structure.