Print Search West Yorkshire Limited - Limited company accounts 16.3

REGISTERED NUMBER: 02673388 (England and Wales)

REPORT OF THE DIRECTOR AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2017

FOR

PRINT SEARCH WEST YORKSHIRE LIMITED

Page

Company Information

1

Report of the Director

2

Income Statement

3

Statement of Financial Position

4

Notes to the Financial Statements

5

DIRECTOR:

Mr Peter Anthony Teasdale

SECRETARY:

Mrs Lesley Teasdale

REGISTERED OFFICE:

Scotsons Farm

Crankwood Road

Abram

Lancashire

WN2 5YB

REGISTERED NUMBER:

02673388 (England and Wales)

ACCOUNTANTS:

Dunhams

Chartered Accountants

11 Warwick Road

Old Trafford

Manchester

M16 0QQ

The director presents his report with the financial statements of the company for the year ended 28 February 2017.

DIRECTOR

Mr Peter Anthony Teasdale held office during the whole of the period from 1 March 2016 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small

companies.

ON BEHALF OF THE BOARD:

Mrs Lesley Teasdale - Secretary

26 April 2017

TURNOVER

272,856

289,450

Cost of sales

214,339

227,019

GROSS PROFIT

58,517

62,431

Administrative expenses

21,794

24,991

36,723

37,440

Other operating income

3,313

3,437

OPERATING PROFIT and

PROFIT BEFORE TAXATION

4

40,036

40,877

Tax on profit

8,092

7,911

PROFIT FOR THE FINANCIAL YEAR

31,944

32,966

FIXED ASSETS

Tangible assets

5

689

911

CURRENT ASSETS

Stocks

71,862

48,988

Debtors

6

39,493

50,827

Cash at bank and in hand

181,572

166,546

292,927

266,361

CREDITORS

Amounts falling due within one year

7

50,832

36,830

NET CURRENT ASSETS

242,095

229,531

TOTAL ASSETS LESS CURRENT LIABILITIES

242,784

230,442

CAPITAL AND RESERVES

Called up share capital

726

726

Capital redemption reserve

274

274

Retained earnings

241,784

229,442

SHAREHOLDERS' FUNDS

242,784

230,442

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 26 April 2017 and were signed by:

Mr Peter Anthony Teasdale - Director

1.	STATUTORY INFORMATION

Print Search West Yorkshire 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 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

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

-

33.33% on cost

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on cost

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 and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted or

substantively enacted by the statement of financial position date.

Deferred tax

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

statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

4.	OPERATING PROFIT

The operating profit is stated after charging:

2017

2016

£

£

Depreciation - owned assets

846

331

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 March 2016

7,788

28,820

18,145

54,753

Additions

-

624

-

624

At 28 February 2017

7,788

29,444

18,145

55,377

DEPRECIATION

At 1 March 2016

7,371

28,326

18,145

53,842

Charge for year

351

495

-

846

At 28 February 2017

7,722

28,821

18,145

54,688

NET BOOK VALUE

At 28 February 2017

66

623

-

689

At 29 February 2016

417

494

-

911

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

37,908

45,261

VAT

404

3,485

Prepayments

1,181

2,081

39,493

50,827

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

34,100

19,676

Tax

8,088

7,941

Social security and other taxes

184

124

Accrued expenses

8,460

9,089

50,832

36,830

8.	RELATED PARTY DISCLOSURES

Print Search West Yorkshire Limited operate from premises owned by the director Mr Peter Anthony Teasdale

and the company secretary Mrs Lesley Teasdale, who between them own the entire issued ordinary share capital

of the company. During the year the company has paid rent in the sum of £Nil (2016 - £Nil) in respect of these

premises.

9.	ULTIMATE CONTROLLING PARTY

The director Mr Peter Anthony Teasdale controls the company by virtue of a controlling interest of 67% of the

issued ordinary share capital.