Lavenham Press Limited - Accounts to registrar - small 16.1.1
Lavenham Press Limited - Accounts to registrar - small 16.1.1
| REGISTERED NUMBER: |
| LAVENHAM PRESS LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED |
| 31 MARCH 2016 |
| LAVENHAM PRESS LIMITED (REGISTERED NUMBER: 00519606) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2016 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 | to | 5 |
| LAVENHAM PRESS LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 MARCH 2016 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Town Wall House |
| Balkerne Hill |
| Colchester |
| Essex |
| CO3 3AD |
| BANKERS: |
| 35 Market Hill |
| Sudbury |
| Suffolk |
| CO10 2EP |
| SOLICITORS: |
| Essex House |
| 42 Crouch Street |
| Colchester |
| Essex |
| CO3 3HH |
| LAVENHAM PRESS LIMITED (REGISTERED NUMBER: 00519606) |
| BALANCE SHEET |
| 31 MARCH 2016 |
| 2016 | 2015 |
| Notes | £ | £ |
| FIXED ASSETS |
| Property, plant and equipment | 3 |
| CURRENT ASSETS |
| Inventories |
| Debtors: amounts falling due within one year | 4 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 5 | ( |
) | ( |
) |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 6 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors on |
| LAVENHAM PRESS LIMITED (REGISTERED NUMBER: 00519606) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2016 |
| 1. | STATUTORY INFORMATION |
| Lavenham Press Limited is a |
| 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 the provisions of Section 1A "Small Entities" of |
| Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and |
| the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
| Transition to FRS 102 Section 1A |
| These financial statements for the year ended 31 March 2016 are the first financial statements that comply with FRS 102 |
| Section 1A small entities. The date of transition is 1 April 2014. This transition has not resulted in any changes to the |
| accounting policies. |
| Revenue recognition |
| The revenue shown in the income statement represents the total amount receivable by the company for goods supplied |
| and services provided, excluding VAT and trade discounts. |
| Depreciation |
| Depreciation is provided at the following annual rates in order to write off each asset less its estimated residual value, |
| over its estimated useful life as follows: |
| Improvements to property - 10% straight line |
| Plant and machinery - 10 - 33% straight line |
| Motor vehicles - 25% straight line |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving |
| items. |
| Work in progress |
| Work in progress is valued on the basis of direct costs. Provision is made for any foreseeable losses where appropriate. |
| No element of profit is included in the valuation of work in progress. |
| Deferred taxation |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet |
| date and is provided on the liability method. |
| Hire purchase agreements |
| Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. |
| The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account |
| on a straight line basis. |
| Operating lease agreements |
| Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor |
| are charged against profits on a straight line basis over the period of the lease. |
| Pension costs |
| The company operates a defined contribution 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. |
| Subvention |
| Where tax losses are surrendered between group companies the company surrendering the loss receives compensation |
| from the recipient company in the form of subvention payments. The value of the subvention payment is the amount of tax |
| saved by the recipient company. |
| LAVENHAM PRESS LIMITED (REGISTERED NUMBER: 00519606) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2016 |
| 3. | PROPERTY, PLANT AND EQUIPMENT |
| Improvements |
| to | Plant and | Motor |
| property | machinery | vehicles | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 April 2015 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 March 2016 |
| DEPRECIATION |
| At 1 April 2015 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 March 2016 |
| NET BOOK VALUE |
| At 31 March 2016 |
| At 31 March 2015 |
| 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 April 2015 |
| Additions |
| At 31 March 2016 |
| DEPRECIATION |
| At 1 April 2015 |
| Charge for year |
| At 31 March 2016 |
| NET BOOK VALUE |
| At 31 March 2016 |
| At 31 March 2015 |
| 4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2016 | 2015 |
| £ | £ |
| Trade debtors |
| Amounts due from group undertakings |
| Other debtors |
| Prepayments and accrued income |
| LAVENHAM PRESS LIMITED (REGISTERED NUMBER: 00519606) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2016 |
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2016 | 2015 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts |
| Trade creditors |
| Amounts due to group undertakings |
| Corporation tax |
| Other taxes and social security |
| Accruals and deferred income |
| 6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2016 | 2015 |
| £ | £ |
| Hire purchase contracts |
| 7. | RELATED PARTY TRANSACTIONS |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial |
| Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly |
| owned subsidiaries within the group. |
| 8. | ULTIMATE CONTROLLING PARTY |
| The company is under the control of its parent company The Lavenham Group Limited. No individual has a controlling |
| interest in the company. |
| 9. | RECONCILIATION OF EQUITY AND PROFIT AND LOSS |
| There is no effect of the transition to FRS 102 Section 1A on the value of equity or profit reported under the previous |
| financial reporting framework. |