REGISTERED NUMBER: 01724476 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 April 2017

for

Crestline Printers Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Certified Accountants' Report

8

DIRECTOR:

JA Turner

REGISTERED OFFICE:

c/o Charnwood Accountants

The Point, Granite Way

Mountsorrel

Loughborough

Leicestershire

LE12 7TZ

REGISTERED NUMBER:

01724476 (England and Wales)

ACCOUNTANTS:

Charnwood Accountants & Business Advisors LLP

The Point

Granite Way

Mountsorrel

Loughborough

Leicestershire

LE12 7TZ

FIXED ASSETS

Intangible assets

5

-

-

Tangible assets

6

25,070

30,406

25,070

30,406

CURRENT ASSETS

Stocks

22,929

44,346

Debtors

7

129,330

128,024

Cash at bank and in hand

3,235

2,573

155,494

174,943

CREDITORS

Amounts falling due within one year

8

123,637

175,416

NET CURRENT ASSETS/(LIABILITIES)

31,857

(473

)

TOTAL ASSETS LESS CURRENT LIABILITIES

56,927

29,933

CREDITORS

Amounts falling due after more than one year

9

-

(3,529

)

PROVISIONS FOR LIABILITIES

(3,530

)

(1,724

)

NET ASSETS

53,397

24,680

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

53,395

24,678

SHAREHOLDERS' FUNDS

53,397

24,680

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

In accordance with Section 444 of the Companies Act 2006, the Profit & Loss Account has not been delivered.

The financial statements were approved by the director on 24 October 2017 and were signed by:

JA Turner - Director

1.	STATUTORY INFORMATION

Crestline 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

The significant accounting policies applied in the preparation of these financial statement are set out below. These

policies have been consistently applied to all years presented unless otherwise stated.

Cashflow statement exemption

The company has availed of the exemption contained in Section 1A of FRS 102 and as a result have elected not to

prepare a cash flow statement.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial

Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with

wholly owned subsidiaries within the group.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its

performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT

and other sales taxes or duty.

The following criteria must also be met before revenue is recognised:

Sale of goods & services

Revenue is recognised when the significant risks and rewards of ownership of the goods and services have passed to

the buyer, usually on dispatch of the goods, the amount of revenue can be measured reliably, it is probable that the

economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in

respect of the transaction can be measured reliably.

These criteria are considered to be met when the goods are delivered to the buyer and on completion of the services

performed.

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.

Tangible fixed assets

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

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Tangible assets are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment

losses. Cost includes the original purchase price, costs directly attributable to bringing the asset to its working

condition for its intended use.

The assets’ residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each

reporting period. The effect of any change is accounted for prospectively.

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 Profit & Loss Account, 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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Hire purchase and leasing commitments

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 .

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 May 2016

and 30 April 2017

10,400

AMORTISATION

At 1 May 2016

and 30 April 2017

10,400

NET BOOK VALUE

At 30 April 2017

-

At 30 April 2016

-

6.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 May 2016

161,132

Additions

4,786

Disposals

(22,953

)

At 30 April 2017

142,965

DEPRECIATION

At 1 May 2016

130,726

Charge for year

8,379

Eliminated on disposal

(21,210

)

At 30 April 2017

117,895

NET BOOK VALUE

At 30 April 2017

25,070

At 30 April 2016

30,406

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.17

30.4.16

£

£

Trade debtors

85,047

82,780

Amounts owed by group undertakings

34,088

35,409

Other debtors

10,195

9,835

129,330

128,024

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.17

30.4.16

£

£

Bank loans and overdrafts

13,442

30,669

Trade creditors

57,943

70,569

Amounts owed to group undertakings

7,938

6,115

Taxation and social security

42,759

64,684

Other creditors

1,555

3,379

123,637

175,416

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.17

30.4.16

£

£

Bank loans

-

3,529

10.	PENSION COMMITMENTS

The company operates a defined contribution scheme. The company makes contributions to its pension scheme for

employees when required. The assets of the scheme are held separately from those of the company in an

independently administered fund. At the balance sheet date there was no contributions due to the scheme.

11.	ULTIMATE CONTROLLING PARTY

The controlling party is Babsco Limited.

The parent company registered office is the same as detailed on the company information page.

12.	FIRST YEAR ADOPTION

This is the first year that the company has presented its results under FRS 102. The last financial statements under

previous UK GAAP were for the year end 30 April 2016 and the date of transition to FRS 102 was 1 May 2015.

The policies applied under the entity's previous accounting framework are not materially different to FRS 102 and

have not impacted on equity or profit or loss. Therefore, there is no requirement to disclose the additional statements

which reconcile profit for the financial year ended 30 April 2016 and the total equity as at 1 May 2015 and 30 April

2016 between UK GAAP as previously reported and under FRS 102 in these financial statements.

The following reproduces the text of the report prepared for the director 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 Director 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 Crestline Printers Limited for the year ended 30 April 2017 which comprise the Profit & Loss Account,

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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of Crestline Printers Limited in accordance with the terms of our engagement letter dated 10 November 2016. Our work has been undertaken solely to prepare for your approval the financial statements of Crestline Printers Limited and state those matters that we have agreed to state to the director of Crestline Printers Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Crestline Printers 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 Crestline Printers Limited. You consider that Crestline Printers 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 Crestline Printers 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.

Charnwood Accountants & Business Advisors LLP

The Point

Granite Way

Mountsorrel

Loughborough

Leicestershire

LE12 7TZ

24 October 2017