Registration number:
471 Print & Promotions Ltd
for the Year Ended 30 November 2018
2nd Floor
The Portergate
257 Ecclesall Road
Sheffield
South Yorkshire
S11 8NX
471 Print & Promotions Ltd
Contents
Company Information |
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Directors' Report |
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Accountants' Report |
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Profit and Loss Account |
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Statement of Comprehensive Income |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
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Detailed Profit and Loss Account |
471 Print & Promotions Ltd
Company Information
Directors |
Mr John Mark Jones Mr William John Jones |
Company secretary |
Jacqueline Jones |
Registered office |
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Bankers |
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Accountants |
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Page 1 |
471 Print & Promotions Ltd
Directors' Report for the Year Ended 30 November 2018
The directors present their report and the financial statements for the year ended 30 November 2018.
Directors of the company
The directors who held office during the year were as follows:
Principal activity
The principal activity of the company is Providers of promotional gifts and corporate merchandise
Small companies provision statement
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved by the
.........................................
Mr John Mark Jones
Director
Page 2 |
Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
471 Print & Promotions Ltd
for the Year Ended 30 November 2018
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of 471 Print & Promotions Ltd for the year ended 30 November 2018 as set out on pages 4 to 11 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of 471 Print & Promotions Ltd, as a body. Our work has been undertaken solely to prepare for your approval the accounts of 471 Print & Promotions Ltd and state those matters that we have agreed to state to the Board of Directors of 471 Print & Promotions Ltd, as a body, in this report . To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than 471 Print & Promotions Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that 471 Print & Promotions Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of 471 Print & Promotions Ltd. You consider that 471 Print & Promotions Ltd 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 accounts of 471 Print & Promotions Ltd. 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 accounts.
......................................
The Portergate
257 Ecclesall Road
Sheffield
South Yorkshire
S11 8NX
Page 3 |
471 Print & Promotions Ltd
Profit and Loss Account for the Year Ended 30 November 2018
Note |
2018 |
2017 |
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Turnover |
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Cost of sales |
( |
( |
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Gross profit |
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|
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Administrative expenses |
( |
( |
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Operating (loss)/profit |
( |
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Interest payable and similar expenses |
( |
( |
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(154) |
(1) |
||
(Loss)/profit before tax |
( |
|
|
Taxation |
- |
( |
|
(Loss)/profit for the financial year |
( |
|
The above results were derived from continuing operations.
The company has no recognised gains or losses for the year other than the results above.
Page 4 |
471 Print & Promotions Ltd
Statement of Comprehensive Income for the Year Ended 30 November 2018
2018 |
2017 |
|
(Loss)/profit for the year |
( |
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Total comprehensive income for the year |
( |
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Page 5 |
471 Print & Promotions Ltd
(Registration number: 9891743)
Balance Sheet as at 30 November 2018
Note |
2018 |
2017 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
- |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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For the financial year ending 30 November 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
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• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the
.........................................
Mr John Mark Jones
Director
Page 6 |
471 Print & Promotions Ltd
Statement of Changes in Equity for the Year Ended 30 November 2018
Share capital |
Profit and loss account |
Total |
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At 1 December 2017 |
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|
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Loss for the year |
- |
( |
( |
Total comprehensive income |
- |
( |
( |
At 30 November 2018 |
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|
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Share capital |
Profit and loss account |
Total |
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At 1 December 2016 |
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( |
( |
Profit for the year |
- |
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Total comprehensive income |
- |
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At 30 November 2017 |
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Page 7 |
471 Print & Promotions Ltd
Notes to the Financial Statements for the Year Ended 30 November 2018
General information |
The company is a private company limited by share capital, incorporated in UK.
The address of its registered office and principal place of business is:
United Kingdom
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The financial statements have been prepared on a going concern basis.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Page 8 |
471 Print & Promotions Ltd
Notes to the Financial Statements for the Year Ended 30 November 2018
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Office equipment - 20% Reducing balance
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Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Loss/profit before tax |
Arrived at after charging/(crediting)
2018 |
2017 |
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Depreciation expense |
|
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Page 9 |
471 Print & Promotions Ltd
Notes to the Financial Statements for the Year Ended 30 November 2018
Tangible assets |
Office equipment |
Total |
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Cost or valuation |
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At 1 December 2017 |
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Additions |
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At 30 November 2018 |
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Depreciation |
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At 1 December 2017 |
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Charge for the year |
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At 30 November 2018 |
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Carrying amount |
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At 30 November 2018 |
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At 30 November 2017 |
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Debtors |
2018 |
2017 |
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Trade debtors |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
Note |
2018 |
2017 |
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Due within one year |
|||
Bank loans and overdrafts |
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- |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Page 10 |
471 Print & Promotions Ltd
Notes to the Financial Statements for the Year Ended 30 November 2018
Share capital |
Allotted, called up and fully paid shares
2018 |
2017 |
|||
No. |
£ |
No. |
£ |
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2 |
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2 |
Related party transactions |
Transactions with directors |
Page 11 |
471 Print & Promotions Ltd
Detailed Profit and Loss Account for the Year Ended 30 November 2018
2018 |
2017 |
|
Turnover (analysed below) |
104,035 |
45,560 |
Cost of sales (analysed below) |
(86,433) |
(35,174) |
Gross profit |
17,602 |
10,386 |
Gross profit (%) |
16.92% |
22.8% |
Administrative expenses |
||
Employment costs (analysed below) |
(15,695) |
- |
Establishment costs (analysed below) |
(763) |
(356) |
General administrative expenses (analysed below) |
(3,916) |
(3,421) |
Finance charges (analysed below) |
(733) |
(175) |
Depreciation costs (analysed below) |
(207) |
(234) |
(21,314) |
(4,186) |
|
Operating (loss)/profit |
(3,712) |
6,200 |
Interest payable and similar expenses (analysed below) |
(154) |
(1) |
(Loss)/profit before tax |
(3,866) |
6,199 |
Page 12 |