Priory Press (Dunstable) Limited - Accounts to registrar (filleted) - small 17.3
Priory Press (Dunstable) Limited - Accounts to registrar (filleted) - small 17.3
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MAY 2017 |
| FOR |
| PRIORY PRESS (DUNSTABLE) LIMITED |
| PRIORY PRESS (DUNSTABLE) LIMITED (REGISTERED NUMBER: 02707121) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the Year Ended 31 MAY 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| PRIORY PRESS (DUNSTABLE) LIMITED |
| COMPANY INFORMATION |
| for the Year Ended 31 MAY 2017 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Prospero House |
| 46-48 Rothesay Road |
| Luton |
| Bedfordshire |
| LU1 1QZ |
| PRIORY PRESS (DUNSTABLE) LIMITED (REGISTERED NUMBER: 02707121) |
| BALANCE SHEET |
| 31 MAY 2017 |
| 2017 | 2016 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital |
| Capital redemption reserve |
| 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 by: |
| PRIORY PRESS (DUNSTABLE) LIMITED (REGISTERED NUMBER: 02707121) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the Year Ended 31 MAY 2017 |
| 1. | STATUTORY INFORMATION |
| Priory Press (Dunstable) Limited is a |
| 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 |
| 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 |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Computer equipment | - |
| 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 have been enacted or |
| substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
| sheet 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. |
| Hire purchase and leasing commitments |
| 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. |
| PRIORY PRESS (DUNSTABLE) LIMITED (REGISTERED NUMBER: 02707121) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 MAY 2017 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Plant and | and | Computer |
| machinery | fittings | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 June 2016 |
| Additions |
| At 31 May 2017 |
| DEPRECIATION |
| At 1 June 2016 |
| Charge for year |
| At 31 May 2017 |
| NET BOOK VALUE |
| At 31 May 2017 |
| At 31 May 2016 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade debtors |
| Other debtors |
| VAT |
| Prepayments |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Corporation tax |
| Taxation and social security |
| Director's loan account | 29,419 | 25,419 |
| Accrued expenses |
| PRIORY PRESS (DUNSTABLE) LIMITED (REGISTERED NUMBER: 02707121) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 MAY 2017 |
| 7. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2017 | 2016 |
| £ | £ |
| Within one year |
| Between one and five years |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2017 | 2016 |
| £ | £ |
| Bank overdrafts |
| 9. | RELATED PARTY DISCLOSURES |
| During the year, total dividends of £59,533 (2016 - £59,533) were paid to the directors. |
| Priory Press Leasing |
| A Business owned and controlled by the director Mr C Huber |
| During the year the company made purchases of £80,000 (2016: £60,000) from Priory Press Leasing in respect |
| of leased equipment and incurred expenses on their behalf to the value of £3,868 (2016: £27,949). Amounts |
| owed from Priory Press Leasing at the balance sheet date total £138,796 (2016: £133,783) and is shown within |
| other debtors. Interest of £7,583 (2016: £5,972) 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. |
| 10. | ULTIMATE CONTROLLING PARTY |
| The controlling party is Mr C Huber. |
| 11. | TRANSITION TO FINANCIAL REPORTING STANDARD 102 (FRS102) |
| As stated in note 2, these are the Company's first financial statements prepared in accordance with FRS 102 |
| Section 1a 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. The accounting |
| policies set out in note 2 have been applied in preparing the financial statements for the year ended 31 May 2017 |
| and for the comparative information presented in these financial statements for the year ended 31 May 2016. |
| The policies applied under the Company's previous accounting framework are not materially different to FRS |
| 102 section 1a 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and therefore |
| have not impacted on equity or profit or loss. |