Pad Printers Limited - Accounts to registrar (filleted) - small 18.2
Pad Printers Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2021 |
| FOR |
| PAD PRINTERS LIMITED |
| PAD PRINTERS LIMITED (REGISTERED NUMBER: 04190049) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2021 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 | to | 3 |
| Notes to the Financial Statements | 4 | to | 7 |
| PAD PRINTERS LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 MARCH 2021 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 123 Wellington Road South |
| Stockport |
| Cheshire |
| SK1 3TH |
| PAD PRINTERS LIMITED (REGISTERED NUMBER: 04190049) |
| BALANCE SHEET |
| 31 MARCH 2021 |
| 31/3/21 | 31/3/20 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 7 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | 9 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 10 |
| Revaluation reserve | 11 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The director acknowledges her 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. |
| PAD PRINTERS LIMITED (REGISTERED NUMBER: 04190049) |
| BALANCE SHEET - continued |
| 31 MARCH 2021 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the director and authorised for issue on |
| PAD PRINTERS LIMITED (REGISTERED NUMBER: 04190049) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2021 |
| 1. | STATUTORY INFORMATION |
| Pad Printers Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents the total amount receivable by the company for goods supplied and services provided, excluding value added tax and trade discounts. |
| Tangible fixed assets |
| Improvements to property | - |
| Plant & machinery | - |
| Motor vehicles | - |
| Computer equipment | - |
| 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 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 |
| 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. |
| Debt factoring |
| The company factors its sales invoices and due to the nature of the factoring contract shows its gross debts as a current asset and its liability to the factoring agent as a current liability. Expenses and interest charged by the factoring agent are charged to the profit and loss account. |
| PAD PRINTERS LIMITED (REGISTERED NUMBER: 04190049) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2021 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST OR VALUATION |
| At 1 April 2020 |
| Additions |
| At 31 March 2021 |
| DEPRECIATION |
| At 1 April 2020 |
| Charge for year |
| At 31 March 2021 |
| NET BOOK VALUE |
| At 31 March 2021 |
| At 31 March 2020 |
| Cost or valuation at 31 March 2021 is represented by: |
| Plant and |
| machinery |
| etc |
| £ |
| Valuation in 2019 | 49,973 |
| Cost | 360,587 |
| 410,560 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31/3/21 | 31/3/20 |
| £ | £ |
| Trade debtors |
| Other debtors |
| PAD PRINTERS LIMITED (REGISTERED NUMBER: 04190049) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2021 |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31/3/21 | 31/3/20 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31/3/21 | 31/3/20 |
| £ | £ |
| Bank loans |
| Hire purchase contracts |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 1,673 | - |
| 8. | SECURED DEBTS |
| a. Creditors: amounts falling due within one year |
| Creditors include sales invoice financing, hire purchase contracts and a loan from a pension scheme which are secured of £115,573 (2020 £283,919). The sales invoice financing is secured by a charge over the company's debtors, the hire purchase contracts are secured on the assets concerned and the loan from the pension scheme is secured on certain items of plant and machinery. |
| b. Creditors: amounts falling due after more than one year |
| Creditors include hire purchase contracts and a loan from a pension scheme which are secured of £362,679 (2020 £70,255). The hire purchase contracts are secured on the assets concerned and the loan from the pension scheme is secured on certain items of plant and mac |
| 9. | PROVISIONS FOR LIABILITIES |
| 31/3/21 | 31/3/20 |
| £ | £ |
| Deferred tax | 39,093 | 52,465 |
| Deferred |
| tax |
| £ |
| Balance at 1 April 2020 |
| Transfer from profit and loss | (13,372 | ) |
| Balance at 31 March 2021 |
| Deferred tax arises as a result of accelerated capital allowances on fixed assets and revaluation of plant and machinery. |
| PAD PRINTERS LIMITED (REGISTERED NUMBER: 04190049) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2021 |
| 10. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31/3/21 | 31/3/20 |
| value: | £ | £ |
| Ordinary A shares | £0.50 | 50 | 50 |
| Ordinary B shares | £0.50 | 50 | 50 |
| 100 | 100 |
| 11. | RESERVES |
| Revaluation |
| reserve |
| £ |
| At 1 April 2020 |
| Transfer to fair value reserve | (913 | ) |
| At 31 March 2021 |