Hurtwood Press Limited Accounts

HURTWOOD PRESS LTD - Company Information






Hurtwood Press Limited

	Company No. 01380260
		Information for Filing with The Registrar
		31 March 2021

The Director presents his report and the accounts for the year ended 31 March 2021.

Principal activities
The principal activity of the company during the year under review was Printing of high quality books.




Director

The Director who served at any time during the year was as follows:

F.J. Atterbury





































































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

F.J. Atterbury
Director
25 January 2022

at	31 March 2021
Company No.		01380260	Notes	2021	2020
				£	£
Fixed assets
	Intangible assets		4	8,000	10,000
	Tangible assets		5	4,957	7,807


				12,957	17,807
Current assets
	Stocks		6	16,775	13,000
	Debtors		7	35,514	27,160

	Cash at bank and in hand			74,754	12,355
				127,043	52,515
Creditors: Amount falling due within one year			8	(112,250)	(51,218)
Net current assets				14,793	1,297
Total assets less current liabilities				27,750	19,104
Creditors: Amounts falling due after more than one year			9	(65,943)	(17,617)
Provisions for liabilities
	Deferred taxation		10	(884)	-

Net (liabilities)/assets				(39,077)	1,487

Capital and reserves
	Called up share capital			100	100



	Profit and loss account		11	(39,177)	1,387

Total equity				(39,077)	1,487



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 March 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 25 January 2022
And signed on its behalf by:
F.J. Atterbury
Director
25 January 2022

for the year ended 31 March 2021

General information

Its registered number is: 01380260

Its registered office is:

27 Snatts Hill

Oxted

Surrey

RH8 0BL

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.

Intangible fixed assets

Intangible fixed assets are carried at cost less accumulated amortisation and impairment losses.

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

25% Straight line

Furniture, fittings and equipment

25% 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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of inventories recognised as an expense in the period in which the reversal occurs.

Work in progress is reflected in the accounts on a contract by contract basis by recording revenue and related costs as contract activity progresses.

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.

Foreign currencies

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

Transactions in currencies, other than the functional currency of the Company, are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. all differences are taken to the profit and loss account. Non-monetary items that are measured at historic cost in a foreign currency are not retranslated.

Defined contribution pensions

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations.

The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Provisions

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.

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

4	Intangible fixed assets
			Goodwill	Total
			£	£
		Cost
		At 1 April 2020	20,000	20,000


		At 31 March 2021	20,000	20,000
		Amortisation and impairment
		At 1 April 2020	10,000	10,000
		Charge for the year	2,000	2,000


		At 31 March 2021	12,000	12,000
		Net book values
		At 31 March 2021	8,000	8,000
		At 31 March 2020	10,000	10,000

		Goodwill

5	Tangible fixed assets
			Plant and machinery	Total
			£	£
		Cost or revaluation
		At 1 April 2020	16,740	16,740




		At 31 March 2021	16,740	16,740
		Depreciation
		At 1 April 2020	8,933	8,933
		Charge for the year	2,850	2,850



		At 31 March 2021	11,783	11,783
		Net book values
		At 31 March 2021	4,957	4,957
		At 31 March 2020	7,807	7,807

6	Stocks
			2021	2020
			£	£
		Raw materials and consumables	7,000	7,000
		Work in progress	9,775	6,000

			16,775	13,000

7	Debtors
			2021	2020
			£	£
		Trade debtors	19,974	13,332

		Corporation tax recoverable	2,712	1,226


		Loans to directors	8,346	3,773
		Other debtors	3,565	7,156
		Prepayments and accrued income	917	1,673
			35,514	27,160

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

		Bank loans and overdrafts	27,058	9,375


		Trade creditors	74,798	17,618

		Corporation tax	3,993	21,089
		Other taxes and social security	4,283	2,017


		Accruals and deferred income	2,118	1,119
			112,250	51,218

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

		Bank loans and overdrafts	65,943	17,617






			65,943	17,617

		Liabilities repayable in more than five years after the balance sheet date
		Amount repayable by instalments	1,233

			1,233

10	Provisions for liabilities
		Deferred taxation

			Accelerated Capital Allowances, Losses and Other Timing Differences	Total
			£	£

		Charge to the profit and loss account for the period	884	884

		At 31 March 2021	884	884



			2021	2020
			£	£
		Accelerated capital allowances	884	-



			884	-

Reserves

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

12	Dividends
			2021	2020
			£	£
		Dividends for the period:
		Dividends paid in the period	-	82,000

			-	82,000

		Dividends by type:

		Equity dividends	-	82,000
			-	82,000