Priory Press (Dunstable) Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 02707121 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

FOR

PRIORY PRESS (DUNSTABLE) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr C Huber

Mrs C E Earnshaw

SECRETARY:

Mrs D Huber

REGISTERED OFFICE:

260 - 270

Butterfield

Great Marlings

Luton

Bedfordshire

LU2 8DL

BUSINESS ADDRESS:

Unit 18, Apex Business Centre

Boscombe Road

Dunstable

Bedfordshire

LU5 4SB

REGISTERED NUMBER:

02707121 (England and Wales)

ACCOUNTANTS:

Foxley Kingham

Chartered Accountants

260 - 270 Butterfield

Great Marlings

Luton

Bedfordshire

LU2 8DL

FIXED ASSETS

Intangible assets

4

12,269

18,904

Tangible assets

5

170,574

210,599

182,843

229,503

CURRENT ASSETS

Stocks

4,000

4,000

Debtors

6

173,729

141,147

Cash at bank

4,811

17,689

182,540

162,836

CREDITORS

Amounts falling due within one year

7

201,622

160,433

NET CURRENT (LIABILITIES)/ASSETS

(19,082

)

2,403

TOTAL ASSETS LESS CURRENT LIABILITIES

163,761

231,906

CREDITORS

Amounts falling due after more than one year

8

(125,946

)

(175,349

)

PROVISIONS FOR LIABILITIES

(27,829

)

(15,793

)

NET ASSETS

9,986

40,764

CAPITAL AND RESERVES

Called up share capital

500

500

Capital redemption reserve

500

500

Retained earnings

8,986

39,764

SHAREHOLDERS' FUNDS

9,986

40,764

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 January 2024 and were signed on its behalf by:

Mrs C E Earnshaw - Director

1.	STATUTORY INFORMATION

Priory Press (Dunstable) 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 presentational currency of the financial statements is the Pound Sterling (£).

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Customer list are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on reducing balance and 20% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and

accumulated impairment losses.

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 tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Grant income

Grant income is recognised on the performance model. Where there are no future performance related conditions, income is recognised when the grants are received.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 June 2022

and 31 May 2023

33,174

AMORTISATION

At 1 June 2022

14,270

Charge for year

6,635

At 31 May 2023

20,905

NET BOOK VALUE

At 31 May 2023

12,269

At 31 May 2022

18,904

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 June 2022

289,831

23,575

636

8,606

322,648

Additions

-

-

-

2,902

2,902

At 31 May 2023

289,831

23,575

636

11,508

325,550

DEPRECIATION

At 1 June 2022

82,266

23,543

278

5,962

112,049

Charge for year

41,433

8

90

1,396

42,927

At 31 May 2023

123,699

23,551

368

7,358

154,976

NET BOOK VALUE

At 31 May 2023

166,132

24

268

4,150

170,574

At 31 May 2022

207,565

32

358

2,644

210,599

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

Plant and

machinery

£

COST

At 1 June 2022

and 31 May 2023

250,000

DEPRECIATION

At 1 June 2022

54,167

Charge for year

38,500

At 31 May 2023

92,667

NET BOOK VALUE

At 31 May 2023

157,333

At 31 May 2022

195,833

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

148,590

132,231

Other debtors

2,538

1,348

Director's loan account

6,171

-

VAT

5,461

551

Prepayments

10,969

7,017

173,729

141,147

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts

30,481

21,015

Hire purchase contracts (see note 9)

49,403

42,234

Trade creditors

104,352

82,800

Corporation tax

2,013

-

Taxation and social security

1,568

2,672

Other creditors

4,608

2,473

Accrued expenses

9,197

9,239

201,622

160,433

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Hire purchase contracts (see note 9)

125,946

175,349

9.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2023

2022

£

£

Net obligations repayable:

Within one year

49,403

42,234

Between one and five years

125,946

175,349

175,349

217,583

10.	SECURED DEBTS

The following secured debts are included within creditors:

2023

2022

£

£

Bank overdrafts

30,481

21,015

Hire purchase contracts

175,349

217,583

205,830

238,598

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 May 2023 and 31 May 2022:

2023

2022

£

£

Mr C Huber

Balance outstanding at start of year

-

-

Amounts advanced

5,643

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

5,643

-

Mrs C E Earnshaw

Balance outstanding at start of year

-

-

Amounts advanced

528

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

528

-

Interest is being charged on the directors loan at 2%. There is no fixed date for repayment

12.	RELATED PARTY DISCLOSURES

During the year, total dividends of £66,048 (2022 - £65,471) were paid to the directors.

Priory Press Properties

A business in which C Huber is a partner.

Amounts owed from Priory Press Properties at the balance sheet date total £2,062 (2022: £872) and is shown within other debtors. During the year the company made rental payments to Priory Press Properties of £25,930 (2022: £21,655).

13.	ULTIMATE CONTROLLING PARTY

The controlling party is Mrs C E Earnshaw.