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Unaudited Financial Statements |
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for the Year Ended 31st August 2019 |
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Design 2 Print (Llandudno) Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 31st August 2019 |
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for |
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Design 2 Print (Llandudno) Limited |
Design 2 Print (Llandudno) Limited (Registered number: 02600994) |
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Contents of the Financial Statements |
for the Year Ended 31st August 2019 |
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Page |
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Company Information | 1 |
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Abridged Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Design 2 Print (Llandudno) Limited |
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Company Information |
for the Year Ended 31st August 2019 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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Design 2 Print (Llandudno) Limited (Registered number: 02600994) |
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Abridged Balance Sheet |
31st August 2019 |
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31/8/19 | 31/8/18 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors |
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Cash in hand |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
( |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET LIABILITIES | ( |
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CAPITAL AND RESERVES |
Called up share capital |
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Revaluation reserve |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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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. |
Design 2 Print (Llandudno) Limited (Registered number: 02600994) |
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Abridged Balance Sheet - continued |
31st August 2019 |
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In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
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The financial statements were approved by the Board of Directors on
by: |
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Design 2 Print (Llandudno) Limited (Registered number: 02600994) |
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Notes to the Financial Statements |
for the Year Ended 31st August 2019 |
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1. | STATUTORY INFORMATION |
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Design 2 Print (Llandudno) Limited is a
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The company's registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable and represents amounts |
receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. |
Income is recognised when goods have been delivered to customers such that the risks and rewards of ownership |
have transferred to them. |
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Goodwill |
Goodwill is now fully amortised. |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost |
less any accumulated amortisation and any accumulated impairment losses. |
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Tangible fixed assets |
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Land and buildings | - |
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Plant and machinery etc | - |
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Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. |
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Stocks |
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance |
for obsolete and slow moving items. |
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Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in |
bringing stocks to their present location and condition. |
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Financial instruments |
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank |
loans and directors loans. |
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Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, |
and subsequently at amortised cost using the effective interest method. |
Directors loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted |
amount of the cash or other consideration expected to be paid or received. |
Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective |
evidence of impairment. If objective evidence is found, an impairment loss is recognised in the statement of |
income and Retained Earnings. |
Design 2 Print (Llandudno) Limited (Registered number: 02600994) |
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Notes to the Financial Statements - continued |
for the Year Ended 31st August 2019 |
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2. | ACCOUNTING POLICIES - continued |
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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. |
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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. |
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Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
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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. |
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Government grants |
Government grants on capital expenditure are credited to a deferral account and are released to revenue over the |
expected useful life of the relevant asset by annual instalments. Grants of a revenue nature are credited to income |
in the period in which they relate. |
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Going concern |
The going concern basis has been adopted for the foreseeable future. This however assuming the continued |
support of the directors, bank and lending facilities currently in place. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INTANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1st September 2018 |
and 31st August 2019 |
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AMORTISATION |
At 1st September 2018 |
and 31st August 2019 |
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NET BOOK VALUE |
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At 31st August 2019 |
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At 31st August 2018 |
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Design 2 Print (Llandudno) Limited (Registered number: 02600994) |
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Notes to the Financial Statements - continued |
for the Year Ended 31st August 2019 |
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5. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST OR VALUATION |
At 1st September 2018 |
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Additions |
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Disposals | ( |
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At 31st August 2019 |
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DEPRECIATION |
At 1st September 2018 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31st August 2019 |
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NET BOOK VALUE |
At 31st August 2019 |
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At 31st August 2018 |
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Cost or valuation at 31st August 2019 is represented by: |
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Totals |
£ |
Valuation in 1998 | 15,000 |
Valuation in 2008 | 93,500 |
Cost | 48,051 |
156,551 |
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If plant and machinery had not been revalued they would have been included at the following historical cost: |
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31/8/19 | 31/8/18 |
£ | £ |
Cost | 1,028,131 | 1,028,131 |
Aggregate depreciation | 1,028,131 | 1,028,131 |
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Plant and machinery was valued on an open market basis on 31st August 2018 by the directors . |
Design 2 Print (Llandudno) Limited (Registered number: 02600994) |
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Notes to the Financial Statements - continued |
for the Year Ended 31st August 2019 |
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5. | TANGIBLE FIXED ASSETS - continued |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
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Totals |
£ |
COST OR VALUATION |
At 1st September 2018 | 554,095 |
Additions | 23,000 |
At 31st August 2019 | 577,095 |
DEPRECIATION |
At 1st September 2018 | 433,126 |
Charge for year | 72,294 |
At 31st August 2019 | 505,420 |
NET BOOK VALUE |
At 31st August 2019 | 71,675 |
At 31st August 2018 | 120,969 |
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A revaluation of some assets has been carried out during the year for refinancing purposes only. |
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6. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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31/8/19 | 31/8/18 |
£ | £ |
Bank overdrafts |
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Bank loans |
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Other loan |
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7. | ULTIMATE CONTROLLING PARTY |
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Mr D R Owen, the director controls the company by virtue of holding 63.3% of the issued ordinary share capital. |