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REGISTERED NUMBER: 04063296 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 March 2023

for

QPS Print Limited

QPS Print Limited (Registered number: 04063296)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


QPS Print Limited (Registered number: 04063296)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 219,152 199,787

CURRENT ASSETS
Stocks 10,000 10,000
Debtors 5 561,170 489,446
Cash at bank and in hand 157,552 266,585
728,722 766,031
CREDITORS
Amounts falling due within one year 6 330,710 306,974
NET CURRENT ASSETS 398,012 459,057
TOTAL ASSETS LESS CURRENT LIABILITIES 617,164 658,844

CREDITORS
Amounts falling due after more than one year 7 (41,537 ) (95,000 )

PROVISIONS FOR LIABILITIES (53,882 ) (37,119 )
NET ASSETS 521,745 526,725

CAPITAL AND RESERVES
Called up share capital 50,000 50,000
Retained earnings 471,745 476,725
SHAREHOLDERS' FUNDS 521,745 526,725

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

QPS Print Limited (Registered number: 04063296)

Balance Sheet - continued
31 March 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors and authorised for issue on 15 September 2023 and were signed on its behalf by:




Mr S J Copeland - Director



Mr R D Fairweather - Director


QPS Print Limited (Registered number: 04063296)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

QPS Print Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 04063296

Registered office: Turning House
Dewsbury Road
Fenton
Stoke on Trent
Staffordshire
ST4 2TE

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


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" 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.

Revenue is recognised as the company becomes entitled to consideration for the services supplied. Therefore, turnover also includes the element of work completed but not yet invoiced.

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 - 2% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on 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 Profit And 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.


QPS Print Limited (Registered number: 04063296)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued
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
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 21 (2022 - 22 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 April 2022 7,756 711,158 98,739
Additions 42,793 6,763 -
At 31 March 2023 50,549 717,921 98,739
DEPRECIATION
At 1 April 2022 931 533,608 87,602
Charge for year 1,011 27,647 2,784
At 31 March 2023 1,942 561,255 90,386
NET BOOK VALUE
At 31 March 2023 48,607 156,666 8,353
At 31 March 2022 6,825 177,550 11,137

QPS Print Limited (Registered number: 04063296)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2022 19,270 61,350 898,273
Additions - 3,874 53,430
At 31 March 2023 19,270 65,224 951,703
DEPRECIATION
At 1 April 2022 15,420 60,925 698,486
Charge for year 964 1,659 34,065
At 31 March 2023 16,384 62,584 732,551
NET BOOK VALUE
At 31 March 2023 2,886 2,640 219,152
At 31 March 2022 3,850 425 199,787

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 403,905 332,198
Amounts owed by group undertakings 156,019 156,019
Other debtors 1,246 1,229
561,170 489,446

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 19,171 30,000
Trade creditors 163,345 146,588
Taxation and social security 132,692 127,440
Other creditors 15,502 2,946
330,710 306,974

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 41,537 95,000

QPS Print Limited (Registered number: 04063296)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

8. FINANCIAL COMMITMENTS

The financial commitments, which are not included in the balance sheet amount to £15,658 (2022 : £1,178). These financial commitments represent the total amount of payments for various leases ending in 2023.

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is QPS (Holdings) Limited