REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 April 2017 |
for |
Crestline Printers Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 April 2017 |
for |
Crestline Printers Limited |
Crestline Printers Limited (Registered number: 01724476) |
Contents of the Financial Statements |
for the Year Ended 30 April 2017 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Chartered Certified Accountants' Report | 8 |
Crestline Printers Limited |
Company Information |
for the Year Ended 30 April 2017 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
The Point |
Granite Way |
Mountsorrel |
Loughborough |
Leicestershire |
LE12 7TZ |
Crestline Printers Limited (Registered number: 01724476) |
Balance Sheet |
30 April 2017 |
30.4.17 | 30.4.16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 5 |
Tangible assets | 6 |
CURRENT ASSETS |
Stocks |
Debtors | 7 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 9 | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
Crestline Printers Limited (Registered number: 01724476) |
Balance Sheet - continued |
30 April 2017 |
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 |
Crestline Printers Limited (Registered number: 01724476) |
Notes to the Financial Statements |
for the Year Ended 30 April 2017 |
1. | STATUTORY INFORMATION |
Crestline Printers Limited is a |
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 |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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. |
Crestline Printers Limited (Registered number: 01724476) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2017 |
3. | ACCOUNTING POLICIES - continued |
Tangible fixed assets |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
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 |
Crestline Printers Limited (Registered number: 01724476) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2017 |
5. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 May 2016 |
and 30 April 2017 |
AMORTISATION |
At 1 May 2016 |
and 30 April 2017 |
NET BOOK VALUE |
At 30 April 2017 |
At 30 April 2016 |
6. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 May 2016 |
Additions |
Disposals | ( |
) |
At 30 April 2017 |
DEPRECIATION |
At 1 May 2016 |
Charge for year |
Eliminated on disposal | ( |
) |
At 30 April 2017 |
NET BOOK VALUE |
At 30 April 2017 |
At 30 April 2016 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.17 | 30.4.16 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
Crestline Printers Limited (Registered number: 01724476) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2017 |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.17 | 30.4.16 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.4.17 | 30.4.16 |
£ | £ |
Bank loans |
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. |
Chartered Certified Accountants' Report to the Director |
on the Unaudited Financial Statements of |
Crestline Printers Limited |
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. |
The Point |
Granite Way |
Mountsorrel |
Loughborough |
Leicestershire |
LE12 7TZ |