Lithgo Press Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01357745 (England and Wales)

Unaudited Financial Statements

for the Year Ended

31 March 2019

for

Lithgo Press Limited

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

M G Atkinson

Mrs L M Atkinson

Mrs C G Atkinson

Ms C L Atkinson

A Atkinson

Mrs S E Coleburne

N C R Coleburne

S Greene

R Hayes

R S W Whitehead

SECRETARY:

M G Atkinson

REGISTERED OFFICE:

Charnwood House

Harcourt Way

Meridian Business Park

Leicester

Leicestershire

LE19 1WP

REGISTERED NUMBER:

01357745 (England and Wales)

ACCOUNTANTS:

The Rowleys Partnership Ltd

Chartered Accountants

Charnwood House

Harcourt Way

Meridian Business Park

Leicester

Leicestershire

LE19 1WP

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 Lithgo Press Limited for the year ended 31 March 2019 which

comprise the Income Statement, 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 Lithgo Press 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 Lithgo Press Limited and state those matters that we have agreed to state to the Board of Directors of Lithgo Press 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 Lithgo Press Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Lithgo Press 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 Lithgo Press Limited. You consider that Lithgo Press 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 Lithgo Press 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.

The Rowleys Partnership Ltd

Chartered Accountants

Charnwood House

Harcourt Way

Meridian Business Park

Leicester

Leicestershire

LE19 1WP

3 October 2019

FIXED ASSETS

Tangible assets

4

1,211,764

1,294,286

CURRENT ASSETS

Stocks

5

92,690

70,978

Debtors

6

591,918

554,046

Cash at bank and in hand

316,423

349,127

1,001,031

974,151

CREDITORS

Amounts falling due within one year

7

418,647

437,692

NET CURRENT ASSETS

582,384

536,459

TOTAL ASSETS LESS CURRENT LIABILITIES

1,794,148

1,830,745

CREDITORS

Amounts falling due after more than one year

8

(211,077

)

(312,466

)

PROVISIONS FOR LIABILITIES

(198,752

)

(168,574

)

NET ASSETS

1,384,319

1,349,705

CAPITAL AND RESERVES

Called up share capital

10

1,000

1,000

Retained earnings

1,383,319

1,348,705

SHAREHOLDERS' FUNDS

1,384,319

1,349,705

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 3 October 2019 and were signed on its behalf by:

M G Atkinson - Director

1.	STATUTORY INFORMATION

Lithgo Press Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company

Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

10% on reducing balance

Plant and machinery

-

15% on reducing balance and 10% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Government grants

Grants are credited to deferred revenue. Grants towards capital expenditure are released to the

profit and loss account over the expected useful life of the assets. Grants towards revenue

expenditure are released to the profit and loss account as the related expenditure is incurred.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Cost comprises direct materials and, where applicable, direct labour costs and those overheads that

have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower od

replacement cost and cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount

of stocks over its estimated selling price less costs to complete and sell is recognised as an

impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

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.

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.

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those

costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's

services are received.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the

risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the

date of inception and the present value of the minimum lease payments. The related liability is

included in the balance sheet as a finance lease obligation. Lease payments are treated as

consisting of capital and interest elements. The interest is charged to the profit and loss account so

as to produce a constant periodic rate of interest on the remaining balance of the liability.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2018 - 30 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Short

Plant and

and

Motor

leasehold

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 April 2018

140,416

2,448,310

150,001

18,895

2,757,622

Additions

-

73,799

649

-

74,448

Disposals

-

(20,025

)

-

-

(20,025

)

At 31 March 2019

140,416

2,502,084

150,650

18,895

2,812,045

DEPRECIATION

At 1 April 2018

90,016

1,246,738

123,826

2,756

1,463,336

Charge for year

5,040

141,204

3,621

4,035

153,900

Eliminated on disposal

-

(16,955

)

-

-

(16,955

)

At 31 March 2019

95,056

1,370,987

127,447

6,791

1,600,281

NET BOOK VALUE

At 31 March 2019

45,360

1,131,097

23,203

12,104

1,211,764

At 31 March 2018

50,400

1,201,572

26,175

16,139

1,294,286

5.

STOCKS

31.3.19

31.3.18

as

restated

£

£

Stocks

92,690

70,978

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

as

restated

£

£

Trade debtors

174,713

172,475

Amounts owed by group undertakings

339,971

339,118

Other debtors

7,543

7,543

Tax

65,987

31,130

VAT

-

124

Prepayments and accrued income

3,704

3,656

591,918

554,046

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

as

restated

£

£

Hire purchase contracts

177,324

167,266

Trade creditors

134,297

145,523

Social security and other taxes

9,612

10,069

VAT

6,829

-

Accruals and deferred income

5,541

14,818

Deferred government grants

85,044

100,016

418,647

437,692

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.19

31.3.18

as

restated

£

£

Hire purchase contracts

211,077

312,466

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.19

31.3.18

as

restated

£

£

Hire purchase contracts

388,401

479,732

Included within other creditors are net obligations under finance lease and hire purchase contracts

that are secured by fixed charges on the assets concerned.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.19

31.3.18

value:

as restated

£

£

1,000

Ordinary

£1

1,000

1,000

11.	OTHER FINANCIAL COMMITMENTS

The company had total guarantees and commitments at the balance sheet date of £139,990 (2018 -

£179,990).