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Provincial Printing and |
Publishing Company Limited |
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Financial Statements for the Year Ended 31 August 2016 |
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Provincial Printing and |
Publishing Company Limited |
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Financial Statements for the Year Ended 31 August 2016 |
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Provincial Printing and |
Publishing Company Limited |
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Company Information |
for the Year Ended 31 August 2016 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Radnor House |
Greenwood Close |
Cardiff Gate Business Park |
Cardiff |
CF23 8AA |
Chartered Accountants' Report to the Director |
on the Unaudited Financial Statements of |
Provincial Printing and |
Publishing Company Limited |
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The following reproduces the text of the report prepared for the director and members 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 Profit and Loss Account and certain other primary statements and the |
Report of the Director are not required to be filed with the Registrar of Companies. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for |
your approval the financial statements of Provincial Printing and Publishing Company Limited for |
the year ended 31 August 2016 which comprise the Profit and Loss Account, Balance Sheet and |
the related notes from the company's accounting records and from information and explanations |
you have given us. |
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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. |
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This report is made solely to the director of Provincial Printing and Publishing Company Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Provincial Printing and Publishing Company Limited and state those matters that we have agreed to state to the director of Provincial Printing and Publishing Company Limited 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 Provincial Printing and Publishing Company Limited director for our work or for this report. |
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It is your duty to ensure that Provincial Printing and Publishing Company 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 Provincial Printing and Publishing Company Limited. You consider that Provincial Printing and Publishing Company Limited is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of Provincial Printing and Publishing Company 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. |
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Chartered Accountants |
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Provincial Printing and |
Publishing Company Limited (Registered number: 00536880) |
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Balance Sheet |
31 August 2016 |
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2016 | 2015 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than
one year |
7 |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Capital redemption reserve |
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Other reserves |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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Provincial Printing and |
Publishing Company Limited (Registered number: 00536880) |
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Balance Sheet - continued |
31 August 2016 |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Profit & Loss Account has not been delivered. |
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The financial statements were approved by the director on
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Provincial Printing and |
Publishing Company Limited (Registered number: 00536880) |
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Notes to the Financial Statements |
for the Year Ended 31 August 2016 |
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1. | STATUTORY INFORMATION |
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Provincial Printing and Publishing Company Limited is a
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registered in England and Wales. The company's registered number and registered office |
address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents the invoiced value of goods and services supplied by the company, net |
of value added tax and trade discounts, in relation to printing services. Turnover in respect of |
contracts for uninvoiced goods and services is recognised by reference to the stage of |
completion at the year end. |
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Tangible fixed assets |
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Freehold property | - |
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Plant and machinery | - |
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Motor vehicles | - |
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Stock |
Stock is valued at the lower of cost and net realisable value. |
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Deferred tax |
Full provision is made for deferred taxation resulting from timing differences between the |
recognition of gains and losses in the accounts and their recognition for tax purposes. |
Deferred taxation is calculated on an un-discounted basis at the tax rates which are |
expected to apply in the periods when the timing differences will reverse. |
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Pension costs |
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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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Provincial Printing and |
Publishing Company Limited (Registered number: 00536880) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 August 2016 |
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4. | TANGIBLE FIXED ASSETS |
Freehold | Plant and | Motor |
property | machinery | vehicles | Totals |
£ | £ | £ | £ |
COST OR VALUATION |
At 1 September 2015 |
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Revaluations | ( |
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At 31 August 2016 |
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DEPRECIATION |
At 1 September 2015 |
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Charge for year |
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Revaluation adjustments | ( |
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At 31 August 2016 |
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NET BOOK VALUE |
At 31 August 2016 |
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At 31 August 2015 |
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The Freehold Land and Buildings were professionally revalued in February 2017 by Burnett |
Davies (Chartered Surveyors) at £300,000 on an open market basis. The revaluation has |
been reflected in the accounts. |
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Freehold land and buildings: |
2016 | 2015 |
£ | £ |
Historical Cost | 111,959 | 111,959 |
Cumulative depreciation based on historical cost | - | 32,356 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
Trade debtors |
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Other debtors & prepayments |
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Provincial Printing and |
Publishing Company Limited (Registered number: 00536880) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 August 2016 |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
Bank loans & overdraft |
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Hire purchase contracts |
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Trade creditors |
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Taxes & social security costs |
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Other creditors & accruals |
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7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR |
2016 | 2015 |
£ | £ |
Bank loans |
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Hire purchase contracts |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans | 100,971 | 108,697 |
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8. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2016 | 2015 |
£ | £ |
Bank overdrafts |
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Bank loans |
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Hire purchase contracts | 14,604 | 141,958 |
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