Company registration number 14383720 (England and Wales)
SPECTRUM EXPRESS PRINT SERVICES LIMITED (FORMALLY EXPRESS PRINT SERVICES LIMITED)
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
SPECTRUM EXPRESS PRINT SERVICES LIMITED (FORMALLY EXPRESS PRINT SERVICES LIMITED)
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
SPECTRUM EXPRESS PRINT SERVICES LIMITED (FORMALLY EXPRESS PRINT SERVICES LIMITED)
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
3,690
6,128
Tangible assets
4
40,659
39,375
44,349
45,503
Current assets
Debtors
5
5,906
6,194
Cash at bank and in hand
969
102
6,875
6,296
Creditors: amounts falling due within one year
6
(69,491)
(57,600)
Net current liabilities
(62,616)
(51,304)
Net liabilities
(18,267)
(5,801)
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
(18,367)
(5,901)
Total equity
(18,267)
(5,801)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 12 March 2025 and are signed on its behalf by:
Mr L D J Corria
Mr L N Corria
Director
Director
Company registration number 14383720 (England and Wales)
SPECTRUM EXPRESS PRINT SERVICES LIMITED (FORMALLY EXPRESS PRINT SERVICES LIMITED)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information

Spectrum Express Print Services Limited (formally Express Print Services Limited) is a private company limited by shares incorporated in England and Wales. The registered office is Unit B3 South Point, Foreshore Road, Cardiff, Glamorgan, CF10 4SP.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Website
Not yet available for use
1.5
Tangible fixed assets

Tangible fixed assets are measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
20% Reducing Balance
SPECTRUM EXPRESS PRINT SERVICES LIMITED (FORMALLY EXPRESS PRINT SERVICES LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
SPECTRUM EXPRESS PRINT SERVICES LIMITED (FORMALLY EXPRESS PRINT SERVICES LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
3
Intangible fixed assets
Website
£
Cost
At 1 January 2024
6,128
Disposals
(2,438)
At 31 December 2024
3,690
Amortisation and impairment
At 1 January 2024 and 31 December 2024
-
0
Carrying amount
At 31 December 2024
3,690
At 31 December 2023
6,128
4
Tangible fixed assets
Plant and equipment
£
Cost
At 1 January 2024
47,250
Additions
10,177
At 31 December 2024
57,427
Depreciation and impairment
At 1 January 2024
7,875
Depreciation charged in the year
8,893
At 31 December 2024
16,768
Carrying amount
At 31 December 2024
40,659
At 31 December 2023
39,375
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
1,598
3,372
SPECTRUM EXPRESS PRINT SERVICES LIMITED (FORMALLY EXPRESS PRINT SERVICES LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
5
Debtors
(Continued)
- 5 -
2024
2023
Amounts falling due after more than one year:
£
£
Deferred tax asset
4,308
2,822
Total debtors
5,906
6,194
6
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
69,491
57,600
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
100
100
100
100
8
Related party transactions

During the year, the Company received a loan from Airroc Limited, a company with common directors.

At the year end the amount due to Airroc Limited was £3,117 (2023 Debtor of £3,372); this amount is included in creditors: amounts falling due within one year.

9
Directors' transactions

The directors operate a current loan account with the company, which are debited with payments made by the company on behalf of the directors and credited with funds introduced and undrawn director's fees. At the period end, the amount outstanding to the directors was £65,050 (2023 - £56,600); this amount being included in creditors: amounts falling due within one year.

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