Origin Print Solutions Limited Filleted accounts for Companies House (small and micro)

ORIGIN PRINT SOLUTIONS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 05535263

Origin Print Solutions Limited

Filleted Unaudited Financial Statements

31 October 2018

Origin Print Solutions Limited

Statement of Financial Position

31 October 2018

	2018		2017
Note	£	£	£

Fixed assets

Tangible assets	5		27,971	35,294

Current assets

Stocks		50,208	62,235
Debtors	6	359,477	290,543
Cash at bank and in hand		295,388	271,892
		---------	---------
		705,073	624,670

Creditors: amounts falling due within one year	7	231,353		206,634
		---------		---------
Net current assets			473,720	418,036
			---------	---------
Total assets less current liabilities			501,691	453,330
			---------	---------
Net assets			501,691	453,330
			---------	---------

Capital and reserves

Called up share capital	120	120
Profit and loss account	501,571	453,210
	---------	---------
Shareholders funds	501,691	453,330
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.

For the year ending 31 October 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Origin Print Solutions Limited

Statement of Financial Position (continued)

31 October 2018

These financial statements were approved by the board of directors and authorised for issue on 16 January 2019 , and are signed on behalf of the board by:

S Avery
Director

Company registration number: 05535263

Origin Print Solutions Limited

Notes to the Financial Statements

Year ended 31 October 2018

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Dean Clough, Halifax, West Yorkshire, HX3 5AX.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures, Fittings and Equipment	-	10% and 25% reducing balance
Motor Vehicles	-	25% reducing balance

Stocks

Stocks are measured 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 the stock to its present location and condition.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 5 (2017: 4 ).

5. Tangible assets

	Fixtures and fittings	Motor vehicles	Total
	£	£	£
Cost
At 1 November 2017 and 31 October 2018	18,767	60,757	79,524
	--------	--------	--------
Depreciation
At 1 November 2017	13,960	30,270	44,230
Charge for the year	460	6,863	7,323
	--------	--------	--------
At 31 October 2018	14,420	37,133	51,553
	--------	--------	--------
Carrying amount
At 31 October 2018	4,347	23,624	27,971
	--------	--------	--------
At 31 October 2017	4,807	30,487	35,294
	--------	--------	--------

6. Debtors

	2018	2017
	£	£
Trade debtors	175,653	142,524
Other debtors	183,824	148,019
	---------	---------
	359,477	290,543
	---------	---------

7. Creditors: amounts falling due within one year

	2018	2017
	£	£
Trade creditors	125,892	81,645
Corporation tax	40,245	46,823
Social security and other taxes	12,178	8,915
Other creditors	53,038	69,251
	---------	---------
	231,353	206,634
	---------	---------

8. Director's advances, credits and guarantees

During the year under review Mr S Avery repaid the outstanding director's loan brought forward in full. During the year under review Mr S Avery was granted a loan of £137,008 from the company. This unsecured loan was provided at 2.50% interest and is repayable on demand. The balance of the loan at the reporting date was £137,008.