REGISTERED NUMBER: 02458792 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 September 2017

for

Acanthus Press Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R Trivett

M J Tierney

P D Sydenham

SECRETARY:

R Trivett

REGISTERED OFFICE:

Unit 21

Ryelands Farm

Bagley Road

Wellington

Somerset

TA21 9PZ

REGISTERED NUMBER:

02458792 (England and Wales)

FIXED ASSETS

Tangible assets

4

311,087

309,327

CURRENT ASSETS

Stocks

58,732

55,646

Debtors

5

1,424,581

1,493,358

Cash at bank and in hand

106,922

47,043

1,590,235

1,596,047

CREDITORS

Amounts falling due within one year

6

814,812

994,721

NET CURRENT ASSETS

775,423

601,326

TOTAL ASSETS LESS CURRENT LIABILITIES

1,086,510

910,653

CREDITORS

Amounts falling due after more than one year

7

(76,539

)

(66,584

)

PROVISIONS FOR LIABILITIES

(10,919

)

(6,706

)

NET ASSETS

999,052

837,363

CAPITAL AND RESERVES

Called up share capital

36,000

36,000

Other reserves

129,000

129,000

Retained earnings

834,052

672,363

SHAREHOLDERS' FUNDS

999,052

837,363

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

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

The directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 9 March 2018 and were signed on its behalf by:

R Trivett - Director

M J Tierney - Director

1.	STATUTORY INFORMATION

Acanthus Press 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 (£).

There are no transitional adjustments necessary on the adoption of FRS102.

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

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to leasehold

-

10% on reducing balance

Plant and machinery

-

15% on reducing balance and 10%-25% on straight line basis

Fixtures and fittings

-

10% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Tangible fixed assets are initially recorded at cost.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 33 .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

leasehold

machinery

fittings

£

£

£

COST

At 1 October 2016

280,236

1,973,555

7,625

Additions

-

26,605

918

At 30 September 2017

280,236

2,000,160

8,543

DEPRECIATION

At 1 October 2016

143,303

1,832,863

3,266

Charge for year

13,693

52,747

468

Eliminated on disposal

-

-

-

At 30 September 2017

156,996

1,885,610

3,734

NET BOOK VALUE

At 30 September 2017

123,240

114,550

4,809

At 30 September 2016

136,933

140,692

4,359

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 October 2016

26,534

54,144

2,342,094

Additions

64,679

641

92,843

Disposals

(26,534

)

-

(26,534

)

At 30 September 2017

64,679

54,785

2,408,403

DEPRECIATION

At 1 October 2016

18,115

35,220

2,032,767

Charge for year

12,908

4,777

84,593

Eliminated on disposal

(20,044

)

-

(20,044

)

At 30 September 2017

10,979

39,997

2,097,316

NET BOOK VALUE

At 30 September 2017

53,700

14,788

311,087

At 30 September 2016

8,419

18,924

309,327

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 October 2016

22,750

10,219

32,969

Additions

-

64,679

64,679

Disposals

-

(10,219

)

(10,219

)

Transfer to ownership

(15,500

)

-

(15,500

)

At 30 September 2017

7,250

64,679

71,929

DEPRECIATION

At 1 October 2016

8,835

5,429

14,264

Charge for year

2,959

12,077

15,036

Eliminated on disposal

-

(6,527

)

(6,527

)

Transfer to ownership

8,138

-

8,138

At 30 September 2017

19,932

10,979

30,911

NET BOOK VALUE

At 30 September 2017

(12,682

)

53,700

41,018

At 30 September 2016

13,915

4,790

18,705

5.

DEBTORS

2017

2016

£

£

Amounts falling due within one year:

Trade debtors

322,996

384,089

Other debtors

50,656

58,340

373,652

442,429

Amounts falling due after more than one year:

Amounts owed by group undertakings

1,050,929

1,050,929

Aggregate amounts

1,424,581

1,493,358

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

15,936

16,652

Hire purchase contracts

18,349

1,490

Trade creditors

349,025

381,195

Corporation tax

82,881

38,320

Social security and other taxes

14,901

19,938

Other creditors

248,712

344,138

Directors' loan accounts

-

4,231

Accruals and deferred income

85,008

188,757

814,812

994,721

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans - 1-2 years

15,936

15,432

Bank loans - 2-5 years

27,415

44,109

Hire purchase contracts

33,188

650

Other creditors

-

6,393

76,539

66,584

8.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank overdraft

-

1,219

Bank loans

59,287

74,974

Hire purchase contracts

51,537

2,140

Invoice discounting

236,626

321,220

347,450

399,553

The directors have given personal guarantees in respect of the bank loans.

Hire purchase liabilities are secured on the assets for which the finance was provided.

The invoice discounting is secured on the book debts of the company.

9.	ULTIMATE CONTROLLING PARTY

The controlling party is Acanthus Holdings Limited.

The ultimate controlling party is Messrs. Trivett, Tierney & Sydenham.

Mr Trivett, Mr Tierney and Mr Sydenham are directors and shareholders of the Holding Company in which they

have an interest of 40%, 34% and 26% respectively.