Print Local Limited - Period Ending 2014-03-31

Registration number: 08372612

Print Local Limited

Unaudited Abbreviated Accounts

for the Period from 24 January 2013 to 31 March 2014

 

McParland Williams Limited
Accountants and Tax Practitioners
13 Liverpool Road North
Maghull
Merseyside
L31 2HB

Print Local Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Print Local Limited
(Registration number: 08372612)
Abbreviated Balance Sheet at 31 March 2014

		Note			31 March 2014 £
Fixed assets
Intangible fixed assets					19,000
Tangible fixed assets					13,357
					32,357
Current assets
Stocks					1,000
Debtors					7,225
Cash at bank and in hand					4,352
					12,577
Creditors: Amounts falling due within one year					(45,548)
Net current liabilities					(32,971)
Net liabilities					(614)
Capital and reserves
Profit and loss account					(614)
Shareholders' deficit					(614)

For the year ending 31 March 2014 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

Approved by the Board on 3 October 2014 and signed on its behalf by:

.........................................
Mr Stephen Pilson
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Print Local Limited
Notes to the Abbreviated Accounts for the Period from 24 January 2013 to 31 March 2014
......... 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
Goodwill	straight line over 20 years

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	20% reducing balance basis
Office equipment	33% reducing balance basis

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.

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.

Page 2

Print Local Limited
Notes to the Abbreviated Accounts for the Period from 24 January 2013 to 31 March 2014
......... continued

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.

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
Additions		20,000			16,910			36,910
At 31 March 2014		20,000			16,910			36,910
Depreciation
Charge for the period		1,000			3,553			4,553
At 31 March 2014		1,000			3,553			4,553
Net book value
At 31 March 2014		19,000			13,357			32,357

3	Share capital

Allotted, called up and fully paid shares

	31 March 2014
		No.			£
Ordinary of £1 each		94			94
Ordinary A of £1 each		6			6
		100			100

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