T. Print Limited - Period Ending 2015-01-31

Registration number: 01807261

T. Print Limited

trading as T Print Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 January 2015
 

Horne Brooke Shenton
Chartered Accountants
21 Caunce Street
Blackpool
Lancashire
FY1 3LA

T. Print Limited
trading as T Print Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 5

T. Print Limited
trading as T Print Limited
(Registration number: 01807261)
Abbreviated Balance Sheet at 31 January 2015

		Note			2015 £			2014 £
Fixed assets
Intangible fixed assets					30,323			27,269
Tangible fixed assets					152,961			189,145
					183,284			216,414
Current assets
Stocks					190,508			173,176
Debtors					407,217			284,901
Cash at bank and in hand					257,855			243,947
					855,580			702,024
Creditors: Amounts falling due within one year					(635,062)			(461,942)
Net current assets					220,518			240,082
Total assets less current liabilities					403,802			456,496
Creditors: Amounts falling due after more than one year					-			(13,123)
Provisions for liabilities					(12,691)			(15,988)
Net assets					391,111			427,385
Capital and reserves
Called up share capital		3			200			200
Profit and loss account					390,911			427,185
Shareholders' funds					391,111			427,385

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 1

T. Print Limited
trading as T Print Limited
(Registration number: 01807261)
Abbreviated Balance Sheet at 31 January 2015

For the year ending 31 January 2015 the company was entitled to exemption 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 director acknowledges his responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing accounts which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit or loss for the financial year in accordance with the requirements of section 396 and which otherwise comply with the requirements of the Companies Act 2006 relating to the accounts, so far as applicable to the company.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 30 October 2015

..........................
Mr Alan Bainbridge
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

T. Print Limited
trading as T Print Limited
Notes to the Abbreviated Accounts for the Year Ended 31 January 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Website Design	33.33% Straight Line
Goodwill	20% Straight Line
Property lease costs	10% Straight Line

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and Machinery	25% on reducing book value
Fixtures and Fittings	15% Straight Line
Motor Vehicles	25% on reducing book value
Computer Equipment	33.33% Straight Line

Research and development

Development expenditure incurred on an individual project is carried forward when its future recoverability can reasonably be regarded as assured. Any expenditure carried forward is amortised in line with the expected future sales from the related project.

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Page 3

T. Print Limited
trading as T Print Limited
Notes to the Abbreviated Accounts for the Year Ended 31 January 2015
......... continued

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Pensions

The company operates a money purchased pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.

Page 4

T. Print Limited
trading as T Print Limited
Notes to the Abbreviated Accounts for the Year Ended 31 January 2015
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 February 2014		69,000			1,207,980			1,276,980
Additions		17,318			23,742			41,060
Disposals		-			(458,329)			(458,329)
At 31 January 2015		86,318			773,393			859,711
Depreciation
At 1 February 2014		41,731			1,018,835			1,060,566
Charge for the year		14,264			55,597			69,861
Eliminated on disposals		-			(454,000)			(454,000)
At 31 January 2015		55,995			620,432			676,427
Net book value
At 31 January 2015		30,323			152,961			183,284
At 31 January 2014		27,269			189,145			216,414

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
100 Ordinary shares of £1 each		100			100			100			100
51 Ordinary Class A shares of £1 each		51			51			51			51
49 Ordinary Class B shares of £1 each		49			49			49			49
		200			200			200			200

4

Control

The company is controlled by Mr Alan Bainbridge as he is the majority shareholder and director of the company.

Page 5