Pad Printers Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04190049 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2018

FOR

PAD PRINTERS LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

6

DIRECTOR:

Mrs D A Hernon

SECRETARY:

Mrs D A Hernon

REGISTERED OFFICE:

123 Wellington Road South

Stockport

Cheshire

SK1 3TH

REGISTERED NUMBER:

04190049 (England and Wales)

ACCOUNTANTS:

Allens Accountants Limited

Chartered Accountants

123 Wellington Road South

Stockport

Cheshire

SK1 3TH

FIXED ASSETS

Tangible assets

4

265,347

297,384

CURRENT ASSETS

Stocks

240,563

179,354

Debtors

295,663

294,153

536,226

473,507

CREDITORS

Amounts falling due within one year

557,842

484,573

NET CURRENT LIABILITIES

(21,616

)

(11,066

)

TOTAL ASSETS LESS CURRENT LIABILITIES

243,731

286,318

CREDITORS

Amounts falling due after more than one year

(32,866

)

(44,114

)

PROVISIONS FOR LIABILITIES

6

(43,005

)

(46,032

)

NET ASSETS

167,860

196,172

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

167,760

196,072

SHAREHOLDERS' FUNDS

167,860

196,172

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31st March 2018 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the director on 29th November 2018 and were signed by:

Mrs D A Hernon - Director

1.	STATUTORY INFORMATION

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

Turnover

Turnover represents the total amount receivable by the company for goods supplied and services provided,

excluding value added tax and trade discounts.

Tangible fixed assets

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

Improvements to property

-

over period of lease to residual value

Plant & machinery

-

5% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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.

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.

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

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.

Debt factoring

The company factors its sales invoices and due to the nature of the factoring contract shows its gross debts as a

current asset and its liability to the factoring agent as a current liability. Expenses and interest charged by the

factoring agent are charged to the profit and loss account.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2017 - 26 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1st April 2017

466,445

Additions

3,587

Disposals

(28,740

)

At 31st March 2018

441,292

DEPRECIATION

At 1st April 2017

169,061

Charge for year

29,161

Eliminated on disposal

(22,277

)

At 31st March 2018

175,945

NET BOOK VALUE

At 31st March 2018

265,347

At 31st March 2017

297,384

5.	SECURED DEBTS

a. Creditors: amounts falling due within one year

Creditors include sales invoice financing, hire purchase contracts and a loan from a pension scheme which are

secured of £282,772 (2017 £271,882). The sales invoice financing is secured by a charge over the company's

debtors, the hire purchase contracts are secured on the assets concerned and the loan from the pension scheme is

secured on certain items of plant and machinery.

b. Creditors: amounts falling due after more than one year

Creditors include hire purchase contracts and a loan from a pension scheme which are secured of £11,794 (2017

£44,114 ). The hire purchase contracts are secured on the assets concerned and the loan from the pension scheme

is secured on certain items of plant and mac

6.	PROVISIONS FOR LIABILITIES

2018

2017

£

£

Deferred tax

43,005

46,032

Deferred

tax

£

Balance at 1st April 2017

46,032

Transfer from profit and loss

(3,027

)

Balance at 31st March 2018

43,005

Deferred tax arises as a result of accelerated capital allowances on fixed assets.

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

100

Ordinary A shares

£0.50

50

50

100

Ordinary B shares

£0.50

50

50

100

100