Priory Press (Dunstable) Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 02707121 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MAY 2016

FOR

PRIORY PRESS (DUNSTABLE) LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

Mr C Huber

Mrs C E Earnshaw

SECRETARY:

Mrs D Huber

REGISTERED OFFICE:

Prospero House

46-48 Rothesay Road

Luton

Bedfordshire

LU1 1QZ

REGISTERED NUMBER:

02707121 (England and Wales)

ACCOUNTANTS:

Foxley Kingham

Chartered Accountants

Prospero House

46-48 Rothesay Road

Luton

Bedfordshire

LU1 1QZ

FIXED ASSETS

Tangible assets

2

15,154

2,436

CURRENT ASSETS

Stocks

4,500

Debtors

359,450

394,973

Cash at bank and in hand

4,002

3,095

367,952

402,568

CREDITORS

Amounts falling due within one year

3

169,811

194,582

NET CURRENT ASSETS

198,141

207,986

TOTAL ASSETS LESS CURRENT
LIABILITIES

213,295

210,422

CAPITAL AND RESERVES

Called up share capital

4

500

Capital redemption reserve

500

Profit and loss account

212,295

209,422

SHAREHOLDERS' FUNDS

213,295

210,422

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2016 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 12 January 2017 and were signed on its behalf by:

Mr C Huber - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2015

36,533

Additions

13,927

At 31 May 2016

50,460

DEPRECIATION

At 1 June 2015

34,097

Charge for year

1,209

At 31 May 2016

35,306

NET BOOK VALUE

At 31 May 2016

15,154

At 31 May 2015

2,436

3.

CREDITORS

Creditors include an amount of £ 19,886 (2015 - £ 23,393 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

2016

2015

value:

£

500

Ordinary

£1

500

5.	RELATED PARTY DISCLOSURES

During the year, total dividends of £39,649 (2015 - £39,648) were paid to the directors .

Mr C Huber

Director and shareholder.

There is no interest charged on amounts owing and there is no fixed date for repayment.

2016

2015

£

Amount due to related party at the balance sheet date

25,419

15,418

Priory Press Leasing

A business owned and controlled by the director Mr C Huber.

During the year company made purchases of £60,000 (2015: £70,000) from Priory Press Leasing in respect of

leased equipment and incurred expenses on their behalf to the value of £27,949 (2015: £32,930). Interest of

£5,972 (2015: £5,318) was charged to Priory Press Leasing on amounts owing during the year. There is no fixed

date for repayment of amounts owing to the company. Amounts owed to the company by Priory Press Leasing

are shown under other debtors in the balance sheet.

2016

2015

£

Amount due from related party at the balance sheet date

133,783

128,453

Priory Press Properties

A business owned and controlled by the director Mr C Huber.

During the year the company paid rent of £20,800 (2015: £20,800) to Priory Press Properties. The rent paid is

considered to be at market rate.

Ace Digital Limited

Mr C Huber is a director of Ace Digital Limited.

During the year the company made purchases of £9,363 (2015: £10,248) from Ace Digital Limited. At the

balance sheet date there was £721 (2015: £2,643) owing by the company to Ace Digital Limited which is shown

under Trade Creditors in the balance sheet.

Rent and utility costs of £9,891 (2015: £7,464) and equipment lease costs of £43,615 (2015: £54,630) were

charged to Ace Digital Limited by the company. At the balance sheet date there was £872 (2015: £940) owing to

the company by Ace Digital Limited which is shown under Trade Debtors in the balance sheet.

Transactions between the companies are considered to be at commercial rates.