R. & E. Presswork Limited - Accounts to registrar (filleted) - small 23.1.2
R. & E. Presswork Limited - Accounts to registrar (filleted) - small 23.1.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Period 1 July 2021 to 30 November 2022 |
| for |
| R. & E. Presswork Limited |
| R. & E. Presswork Limited (Registered number: 01707067) |
| Contents of the Financial Statements |
| for the Period 1 July 2021 to 30 November 2022 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Chartered Accountants' Report | 10 |
| R. & E. Presswork Limited |
| Company Information |
| for the Period 1 July 2021 to 30 November 2022 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Hanover Court |
| 5 Queen Street |
| Lichfield |
| Staffordshire |
| WS13 6QD |
| R. & E. Presswork Limited (Registered number: 01707067) |
| Balance Sheet |
| 30 November 2022 |
| 2022 | 2021 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 10 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 11 |
| Capital redemption reserve | 12 |
| Retained earnings | 12 |
| SHAREHOLDERS' FUNDS |
| The director acknowledges his 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. |
| R. & E. Presswork Limited (Registered number: 01707067) |
| Balance Sheet - continued |
| 30 November 2022 |
| In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
| The financial statements were approved by the director and authorised for issue on |
| R. & E. Presswork Limited (Registered number: 01707067) |
| Notes to the Financial Statements |
| for the Period 1 July 2021 to 30 November 2022 |
| 1. | STATUTORY INFORMATION |
| R. & E. Presswork Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Freehold property | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Stocks |
| Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate. |
| Taxation |
| Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 period 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. |
| R. & E. Presswork Limited (Registered number: 01707067) |
| Notes to the Financial Statements - continued |
| for the Period 1 July 2021 to 30 November 2022 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| 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 period was |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Freehold | Plant and | and | Motor |
| property | machinery | fittings | vehicles | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 July 2021 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 30 November 2022 |
| DEPRECIATION |
| At 1 July 2021 |
| Charge for period |
| Eliminated on disposal | ( |
) | ( |
) |
| At 30 November 2022 |
| NET BOOK VALUE |
| At 30 November 2022 |
| At 30 June 2021 |
| R. & E. Presswork Limited (Registered number: 01707067) |
| Notes to the Financial Statements - continued |
| for the Period 1 July 2021 to 30 November 2022 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Plant and | Motor |
| machinery | vehicles | Totals |
| £ | £ | £ |
| COST |
| At 1 July 2021 |
| Additions |
| Transfer to ownership | (102,500 | ) | (35,184 | ) | (137,684 | ) |
| At 30 November 2022 |
| DEPRECIATION |
| At 1 July 2021 |
| Charge for period |
| Transfer to ownership | (60,516 | ) | (35,184 | ) | (95,700 | ) |
| At 30 November 2022 |
| NET BOOK VALUE |
| At 30 November 2022 |
| At 30 June 2021 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Bank loans |
| Hire purchase contracts (see note 8) |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Bank loans |
| Hire purchase contracts (see note 8) |
| R. & E. Presswork Limited (Registered number: 01707067) |
| Notes to the Financial Statements - continued |
| for the Period 1 July 2021 to 30 November 2022 |
| 8. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Hire purchase contracts |
| 2022 | 2021 |
| £ | £ |
| Net obligations repayable: |
| Within one year |
| Between one and five years |
| Non-cancellable operating | leases |
| 2022 | 2021 |
| £ | £ |
| Within one year |
| Between one and five years |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2022 | 2021 |
| £ | £ |
| Bank loans |
| Hire purchase contracts | 324,257 | 271,502 |
| The bank loans are secured by legal fixed and floating charges over the freehold property. |
| The hire purchase contracts are secured against the specific asset that the cash was advanced to purchase. Details of the assets under hire purchase agreements are given in the fixed asset note. |
| 10. | PROVISIONS FOR LIABILITIES |
| 2022 | 2021 |
| £ | £ |
| Deferred tax | 148,022 | 118,374 |
| Deferred |
| tax |
| £ |
| Balance at 1 July 2021 |
| Charge to Profit and Loss Account during period |
| Balance at 30 November 2022 |
| R. & E. Presswork Limited (Registered number: 01707067) |
| Notes to the Financial Statements - continued |
| for the Period 1 July 2021 to 30 November 2022 |
| 11. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2022 | 2021 |
| value: | £ | £ |
| Ordinary A | £1 | 400 | 400 |
| Ordinary B | £1 | 10 | 10 |
| 410 | 410 |
| 12. | RESERVES |
| Capital |
| Retained | redemption |
| earnings | reserve | Totals |
| £ | £ | £ |
| At 1 July 2021 | 791,201 |
| Profit for the period | - |
| At 30 November 2022 | 1,007,981 |
| 13. | RELATED PARTY DISCLOSURES |
| Bert Frank Limited |
| A company in which Mr A J Yeats is a director has a interest. |
| At the 30 November 2022, the amount due to Bert Frank Limited, included in other creditors, amounted to £81,811 (2021 - £nil). |
| This amount is unsecured and has no specific terms regarding payment of interest. The amount due is repayable on demand but the directors of Bert Frank Limited has given their assurance that the amount will not be demanded until such time as R & E Presswork Limited can afford to do so without detriment to its working capital requirements. |
| R. & E. Presswork (Holdings) Limited |
| Holding company. |
| At the 30 November 2022, there was an amount due from R. & E. Presswork (Holdings) Limited in the sum of £216,340 (2021 - £215,458). |
| This amount is unsecured and has no specific terms regarding payment of interest. The amount due is repayable on demand but the director of R. & E. Presswork Limited has given his assurance that the amount will not be demanded until such time as R. & E. Presswork (Holdings) Limited can afford to do so without detriment to its working capital requirements. |
| R. & E. Presswork Limited (Registered number: 01707067) |
| Notes to the Financial Statements - continued |
| for the Period 1 July 2021 to 30 November 2022 |
| 13. | RELATED PARTY DISCLOSURES - continued |
| Ja & Co London Limited |
| A company in which Mr A J Yeats is a director and has an interest |
| At the 30 November 2022, there was an amount due from Ja & Co London Limited amounting to £55,426 (2021 - £3,738). |
| This amount is unsecured and has no specific terms regarding payment of interest. The amount due is repayable on demand but the director of R. & E. Presswork Limited have given his assurance that the amount will not be demanded until such time as JA & Co London Limited can afford to do so without detriment to its working capital requirements. |
| Dual Enterprises Limited |
| A company in which Mr A J Yeats is a director and shareholder. |
| At the 30 November 2022, there was an amount due to Dual Enterprises Limited amounting to £187,845 (2021 - £105,000) |
| This amount is unsecured and has no specific terms regarding payment of interest. The amount due is repayable on demand but the director of Dual Enterprises Limited has given his assurance that the amount will not be demanded until such time as R & E Presswork Limited can afford to do so without detriment to its working capital requirements. |
| Chartered Accountants' Report to the Director |
| on the Unaudited Financial Statements of |
| R. & E. Presswork Limited |
| The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of R. & E. Presswork Limited for the period ended 30 November 2022 which comprise the Profit and Loss Account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
| This report is made solely to the director of R. & E. Presswork Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of R. & E. Presswork Limited and state those matters that we have agreed to state to the director of R. & E. Presswork Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than R. & E. Presswork Limited and its director for our work or for this report. |
| It is your duty to ensure that R. & E. Presswork Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of R. & E. Presswork Limited. You consider that R. & E. Presswork Limited is exempt from the statutory audit requirement for the period. |
| We have not been instructed to carry out an audit or a review of the financial statements of R. & E. Presswork Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| Hanover Court |
| 5 Queen Street |
| Lichfield |
| Staffordshire |
| WS13 6QD |