Turriff Printing Services Limited - Accounts to registrar (filleted) - small 17.3
Turriff Printing Services Limited - Accounts to registrar (filleted) - small 17.3
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2017 |
| FOR |
| TURRIFF PRINTING SERVICES LIMITED |
| TURRIFF PRINTING SERVICES LIMITED (REGISTERED NUMBER: SC083612) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 OCTOBER 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| TURRIFF PRINTING SERVICES LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 OCTOBER 2017 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| TURRIFF PRINTING SERVICES LIMITED (REGISTERED NUMBER: SC083612) |
| BALANCE SHEET |
| 31 OCTOBER 2017 |
| 2017 | 2016 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 11 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| TURRIFF PRINTING SERVICES LIMITED (REGISTERED NUMBER: SC083612) |
| BALANCE SHEET - continued |
| 31 OCTOBER 2017 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the director on |
| TURRIFF PRINTING SERVICES LIMITED (REGISTERED NUMBER: SC083612) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 OCTOBER 2017 |
| 1. | STATUTORY INFORMATION |
| Turriff Printing Services Limited is a |
| registered number and registered office address can be found on the Company Information page. |
| 2. | STATEMENT OF COMPLIANCE |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The presentation currency of the financial statements is the Pound Sterling (£). Monetary amounts in these |
| financial statements are rounded to the nearest pound. |
| These financial statements for the year ended 31 October 2017 are the first financial statements of Turriff |
| Printing Services Limited prepared in accordance with Section 1A "Small Entities" of Financial Reporting |
| Standard 102, the financial reporting standard applicable in the UK and Republic of Ireland. The date of |
| transition to FRS102 was 1 November 2015. The reported financial position and financial performance for the |
| previous period are not affected by the transition to FRS102. |
| Going Concern |
| At the time of approving the financial statements, the directors have a reasonable expectation that the company |
| has adequate resources to continue in operational existence for the foreseeable future. Thus the directors |
| continue to adopt the going concern basis of accounting in preparing the financial statements. |
| Significant judgements and estimates |
| In the application of the company's accounting policies, the directors are required to make judgements, estimates |
| and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other |
| sources. The estimates and associated assumptions are based on historical experience and other factors that are |
| considered to be relevant. Actual results may differ from these estimates. |
| The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates |
| are recognised in the period in which the estimate is revised where the revision affects only that period, or in the |
| period of the revision and future periods where the revision affects both current and future periods. |
| The directors consider that there are no estimates and underlying assumptions which have a significant risk of |
| causing a material adjustment to the carrying amount of the assets and liabilities. |
| 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 |
| Land and buildings | - |
| Plant and machinery etc | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
| moving items. |
| TURRIFF PRINTING SERVICES LIMITED (REGISTERED NUMBER: SC083612) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 OCTOBER 2017 |
| 3. | ACCOUNTING POLICIES - continued |
| 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. |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held |
| under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases |
| are depreciated over their useful lives or the term of the lease, whichever is the shorter. |
| The interest element of these obligations is charged to the profit and loss account over the relevant period. The |
| capital element of the future payments is treated as a liability. |
| 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. |
| Cash and cash equivalents |
| Cash and cash equivalents include cash in hand, deposits held in call with banks, other short-term liquid |
| investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown |
| within borrowings in current liabilities. |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| TURRIFF PRINTING SERVICES LIMITED (REGISTERED NUMBER: SC083612) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 OCTOBER 2017 |
| 5. | TANGIBLE FIXED ASSETS |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| COST |
| At 1 November 2016 |
| Additions |
| At 31 October 2017 |
| DEPRECIATION |
| At 1 November 2016 |
| Charge for year |
| At 31 October 2017 |
| NET BOOK VALUE |
| At 31 October 2017 |
| At 31 October 2016 |
| Included within the net book value of £49,550 is £15,340 (2016 - £18,047) relating to assets held under hire |
| purchase agreements. The depreciation charged to the profit and loss account in the year in respect of such |
| assets amounted to £2,707 (2016 - £3,185). |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade debtors |
| Amounts recoverable on contract |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts (see note 9) |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Bank loans |
| Hire purchase contracts (see note 9) |
| TURRIFF PRINTING SERVICES LIMITED (REGISTERED NUMBER: SC083612) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 OCTOBER 2017 |
| 9. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Hire purchase contracts |
| 2017 | 2016 |
| £ | £ |
| Net obligations repayable: |
| Within one year |
| Between one and five years |
| Non-cancellable operating |
| leases |
| 2017 | 2016 |
| £ | £ |
| Between one and five years |
| In more than five years |
| 10. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2017 | 2016 |
| £ | £ |
| Bank loans |
| The Royal Bank of Scotland hold a Standard Security over the Property, a personal guarantee supplied by the |
| director and a Bond and Floating Charge for all monies due except book debts in favour of Royal Bank Invoice |
| Finance amounting to £nil (2016 - £2,791), who hold an assignation in security relating to a factoring agreement |
| between the company and Royal Bank Invoice Finance. |
| 11. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2017 | 2016 |
| value: | £ | £ |
| Ordinary | £1 | 9,000 | 9,000 |
| 12. | ULTIMATE CONTROLLING PARTY |
| The controlling party is Printspiration Limited. |
| The ultimate controlling party is |