Print Revolution Limited
Print Revolution Limited
Registered number: 04592067
Unaudited Financial Statements
For the Period
1 September 2021
to
28 February 2023
Print Revolution Limited
Unaudited Financial Statements
For the Period
1 September 2021
to
28 February 2023
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—5 |
Page 1
Print Revolution Limited
Balance Sheet
As At
28 February 2023
Balance Sheet
Registered number:
04592067
For the period ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
| 28 February 2023 | 31 August 2021 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 3 |
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| CURRENT ASSETS | |||||
| Stocks |
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| Debtors | 4 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 5 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | 6 |
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| NET (LIABILITIES)/ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | (787) | 44,920 | |||
Page 1
Page 2
Print Revolution Limited
Balance Sheet (continued)
As At
28 February 2023
On behalf of the board
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Director
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The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Print Revolution Limited
Notes to the Financial Statements
For the Period
1 September 2021
to
28 February 2023
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
1.2.
Going Concern Disclosure
The directors believe the company to be a going concern and will continue to give their support to the company over the next 12 months.
1.3.
Turnover
Turnover is measured at the fair value of the consideration received, net of discounts and value added taxes. Turnover is recognised at the point of invoice.
1.4.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Plant and machinery |
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| Fixtures and fittings |
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| Computer equipment |
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1.5.
Stocks and Work in Progress
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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
1.6.
Financial Instruments
Debtors and creditors which are due within one year are recorded at transaction price, less any impairment.
1.7.
Taxation
The taxation expense represents the sum of the tax currently payable and deferred tax. Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax
Deferred tax has not been recognised as it is not material to the financial statements. The director will review this annually.
Page 3
Page 4
Print Revolution Limited
Notes to the Financial Statements (continued)
For the Period
1 September 2021
to
28 February 2023
1.8.
Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
1.9.
Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
2.
Average Number of Employees
Average number of employees, including directors, during the period was as follows: 1 (2021: 1)
3.
Tangible Assets
| Plant and machinery | Fixtures and fittings | Computer equipment | Total | |
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| £ | £ | £ | £ | |
| Cost | ||||
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| Depreciation | ||||
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| Provided during the period |
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| Net Book Value | ||||
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Page 4
Page 5
Print Revolution Limited
Notes to the Financial Statements (continued)
For the Period
1 September 2021
to
28 February 2023
4.
Debtors
| 28 February 2023 | 31 August 2021 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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| Other debtors | 408 | 2,685 | |
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5.
Creditors: Amounts Falling Due Within One Year
| 28 February 2023 | 31 August 2021 | ||
|---|---|---|---|
| £ | £ | ||
| Trade creditors |
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| Bank loans and overdrafts |
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| Amounts owed to group undertakings |
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| Other creditors | 31,580 | 6,144 | |
| Taxation and social security |
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6.
Creditors: Amounts Falling Due After More Than One Year
| 28 February 2023 | 31 August 2021 | ||
|---|---|---|---|
| £ | £ | ||
| Bank loans |
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| Other creditors | - | 30,469 | |
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7.
Related Party Transactions
The total amount owed to a group undertaking is £20,826 (2021 : Nil) as at 28.02.2023
8.
General Information
Print Revolution Limited
is a private company, limited by shares, incorporated in England & Wales, the registered number is
04592067
. The registered office is Creative House, Unit 1 Chase Park, Daleside Road, Nottingham, England, NG2 4GT.
Page 5