R. & E. Presswork Limited - Accounts to registrar (filleted) - small 18.2
R. & E. Presswork Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 30 June 2018 |
| for |
| R. & E. Presswork Limited |
| R. & E. Presswork Limited (Registered number: 01707067) |
| Contents of the Financial Statements |
| for the Year Ended 30 June 2018 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Chartered Accountants' Report | 10 |
| R. & E. Presswork Limited |
| Company Information |
| for the Year Ended 30 June 2018 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Hanover Court |
| 5 Queen Street |
| Lichfield |
| Staffordshire |
| WS13 6QD |
| R. & E. Presswork Limited (Registered number: 01707067) |
| Balance Sheet |
| 30 June 2018 |
| 2018 | 2017 |
| 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 |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 10 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 11 |
| Capital redemption reserve | 12 |
| Retained earnings | 12 |
| 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. |
| R. & E. Presswork Limited (Registered number: 01707067) |
| Balance Sheet - continued |
| 30 June 2018 |
| In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
| The financial statements were approved by the Board of Directors on |
| R. & E. Presswork Limited (Registered number: 01707067) |
| Notes to the Financial Statements |
| for the Year Ended 30 June 2018 |
| 1. | STATUTORY INFORMATION |
| R. & E. Presswork Limited is a |
| company's registered number and registered office address can be found on the Company Information page. |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 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 |
| Land and buildings | - |
| Plant and machinery etc | - |
| Stocks |
| Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all |
| costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and |
| condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and |
| slow-moving stock where appropriate. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, |
| 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. |
| R. & E. Presswork Limited (Registered number: 01707067) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2018 |
| 2. | ACCOUNTING POLICIES - continued |
| Hire purchase and leasing commitments |
| 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 estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Freehold | Long | Plant and |
| property | leasehold | machinery |
| £ | £ | £ |
| COST |
| At 1 July 2017 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 30 June 2018 |
| DEPRECIATION |
| At 1 July 2017 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 30 June 2018 |
| NET BOOK VALUE |
| At 30 June 2018 |
| At 30 June 2017 |
| R. & E. Presswork Limited (Registered number: 01707067) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2018 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Fixtures |
| and | Motor |
| fittings | vehicles | Totals |
| £ | £ | £ |
| COST |
| At 1 July 2017 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 30 June 2018 |
| DEPRECIATION |
| At 1 July 2017 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 30 June 2018 |
| NET BOOK VALUE |
| At 30 June 2018 |
| At 30 June 2017 |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Plant and | Motor |
| machinery | vehicles | Totals |
| £ | £ | £ |
| COST |
| At 1 July 2017 |
| Additions |
| Transfer to ownership | - | (15,430 | ) | (15,430 | ) |
| At 30 June 2018 |
| DEPRECIATION |
| At 1 July 2017 |
| Charge for year |
| Transfer to ownership | - | (13,827 | ) | (13,827 | ) |
| At 30 June 2018 |
| NET BOOK VALUE |
| At 30 June 2018 |
| At 30 June 2017 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| R. & E. Presswork Limited (Registered number: 01707067) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2018 |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Bank loans |
| Hire purchase contracts (see note 8) |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Bank loans |
| Hire purchase contracts (see note 8) |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 108,221 | 132,452 |
| 8. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Hire purchase contracts |
| 2018 | 2017 |
| £ | £ |
| Net obligations repayable: |
| Within one year |
| Between one and five years |
| Non-cancellable operating |
| leases |
| 2018 | 2017 |
| £ | £ |
| Within one year |
| Between one and five years |
| In more than five years |
| R. & E. Presswork Limited (Registered number: 01707067) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2018 |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2018 | 2017 |
| £ | £ |
| Bank loans |
| Hire purchase contracts | 328,271 | 213,092 |
| The bank loans are secured by legal fixed and floating charges over the freehold property. |
| The hire purchase contracts are secured against the specific asset that the cash was advanced to purchase. Details |
| of the assets under Hire purchase agreements are given in the fixed asset note. |
| 10. | PROVISIONS FOR LIABILITIES |
| 2018 | 2017 |
| £ | £ |
| Deferred tax | 93,750 | 75,857 |
| Deferred |
| tax |
| £ |
| Balance at 1 July 2017 |
| Provided during year |
| Balance at 30 June 2018 |
| 11. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2018 | 2017 |
| value: | £ | £ |
| Ordinary A | £1 | 400 | 400 |
| Ordinary B | £1 | 10 | 10 |
| 410 | 410 |
| 12. | RESERVES |
| Capital |
| Retained | redemption |
| earnings | reserve | Totals |
| £ | £ | £ |
| At 1 July 2017 | 716,620 |
| Profit for the year | - |
| Dividends | ( |
) | - | ( |
) |
| At 30 June 2018 | 763,605 |
| R. & E. Presswork Limited (Registered number: 01707067) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2018 |
| 13. | RELATED PARTY DISCLOSURES |
| Bert Frank Limited |
| A company in which Mr A J Yeats is a director and shareholder. |
| At the 30 June 2018, the amount due to Bert Frank Limited, included in other creditors, amounted to £90,576. At |
| the 30 June 2017, the amount due from Bert Frank Limited, included in other debtors, amounted to £2,486. |
| The company sold goods to Bert Frank Limited in the sum of £535,828. All transactions are on a normal trading |
| basis. |
| JA & Co London Limited |
| A company in which Mr A J Yeats is a director and shareholder. |
| At the 30 June 2018, the amount due to JA & Co LondonLimited, included in other creditors, amounted to £263. |
| At the 30 June 2017, the amount due from JA & Co London Limited, included in other debtors, amounted to |
| £48,617. |
| The company sold goods to JA & Co London Limited in the sum of £30,240. All transactions are on a normal |
| trading basis. |
| R. & E. Presswork (Holdings) Limited |
| Parent undertaking. |
| At the 30 June 2018, the amount due form the parent undertaking was £213,863 (2017 - £129,920). The |
| movement in the year of £83,943 represents payments made by R. & E. Presswork Limited on behalf of R. & E. |
| Presswork (Holdings) Limited. |
| This amount is unsecured and has no specific terms regarding payment of interest. The amount due is repayable |
| on demand but the directors of R. & E. Presswork Limited have given their assurance that the amount will not be |
| demanded until such time as R. & E. Presswork (Holdings) Limited can afford to do so without detriment to its |
| working capital needs. |
| 14. | ULTIMATE CONTROLLING PARTY |
| The controlling party is A J Yeats. |
| Chartered Accountants' Report to the Board of Directors |
| on the Unaudited Financial Statements of |
| R. & E. Presswork Limited |
| The following reproduces the text of the report prepared for the directors in respect of the company's annual |
| unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file |
| a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the |
| Report of the Directors are not required to be filed with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
| financial statements of R. & E. Presswork Limited for the year ended 30 June 2018 which comprise the Profit and Loss |
| Account, Balance Sheet and the related notes from the company's accounting records and from information and |
| explanations you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
| This report is made solely to the Board of Directors of R. & E. Presswork Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of R. & E. Presswork Limited and state those matters that we have agreed to state to the Board of Directors of R. & E. Presswork Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than R. & E. Presswork Limited and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that R. & E. Presswork Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of R. & E. Presswork Limited. You consider that R. & E. Presswork Limited is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of R. & E. Presswork Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| Hanover Court |
| 5 Queen Street |
| Lichfield |
| Staffordshire |
| WS13 6QD |