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REGISTERED NUMBER: 12130345 (England and Wales)










MPS Workflow Ltd

Unaudited Financial Statements

for the Year Ended 31 July 2024






MPS Workflow Ltd (Registered number: 12130345)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MPS Workflow Ltd

Company Information
for the Year Ended 31 July 2024







DIRECTOR: Miss Frances Lisa Dawber





REGISTERED OFFICE: Unit 1
Vermont Court
Standish
WN6 0XF





REGISTERED NUMBER: 12130345 (England and Wales)






MPS Workflow Ltd (Registered number: 12130345)

Balance Sheet
31 July 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 12,874 -

CURRENT ASSETS
Stocks 5 273,455 228,381
Debtors 6 2,077,203 1,224,869
Cash at bank 8,122 325
2,358,780 1,453,575
CREDITORS
Amounts falling due within one year 7 (724,207 ) (450,763 )
NET CURRENT ASSETS 1,634,573 1,002,812
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,647,447

1,002,812

CREDITORS
Amounts falling due after more than one
year

8

(1,361,144

)

(805,480

)

PROVISIONS FOR LIABILITIES (3,219 ) -
NET ASSETS 283,084 197,332

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 283,083 197,331
283,084 197,332

MPS Workflow Ltd (Registered number: 12130345)

Balance Sheet - continued
31 July 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

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.

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 and Statement of Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 April 2025 and were signed by:





Miss Frances Lisa Dawber - Director


MPS Workflow Ltd (Registered number: 12130345)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. GENERAL INFORMATION

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Unit 1
Vermont Court
Standish
WN6 0XF

2. ACCOUNTING POLICIES

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND KEY ACCOUNTING ESTIMATES
The principal accounting policies applied in the preparation of these financial statements are set out below.These policies have been consistently applied to all the years presented, unless otherwise stated.

STATEMENT OF COMPLIANCE
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

BASIS OF PREPARATION
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

GOING CONCERN
The financial statements have been prepared on a going concern basis.

REVENUE RECOGNITION
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax,returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

CASH AND CASH EQUIVALENTS
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

DIVIDENDS
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.


MPS Workflow Ltd (Registered number: 12130345)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

2. ACCOUNTING POLICIES - continued
TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account and Statement of Retained Earnings, 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.

TRADE DEBTORS
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

STOCKS
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

TRADE CREDITORS
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

BORROWINGS
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

SHARE CAPITAL
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

MPS Workflow Ltd (Registered number: 12130345)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

2. ACCOUNTING POLICIES - continued

DEFINED CONTRIBUTION PENSION OBLIGATION
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Improvements
to Office
property equipment Totals
£    £    £   
COST
Additions 12,653 600 13,253
At 31 July 2024 12,653 600 13,253
DEPRECIATION
Charge for year 236 143 379
At 31 July 2024 236 143 379
NET BOOK VALUE
At 31 July 2024 12,417 457 12,874

5. STOCKS
2024 2023
£    £   
Stocks 273,455 228,381

6. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 296,806 175,263
Amounts owed by participating interests 9,575 -
Amounts recoverable on contract 404,595 250,000
Other debtors 31,063 24,606
742,039 449,869

MPS Workflow Ltd (Registered number: 12130345)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

6. DEBTORS - continued
2024 2023
£    £   
Amounts falling due after more than one year:
Amounts owed by participating interests 1,335,164 775,000

Aggregate amounts 2,077,203 1,224,869

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 9) 33,667 4,500
Trade creditors 72,692 67,858
Amounts owed to participating interests - 3,483
Corporation tax 73,129 62,258
PAYE and NIC creditor 27,529 4,652
VAT 107,482 53,315
Staff pensions 2,082 484
Directors' current accounts 711 79
Accruals 406,915 254,134
724,207 450,763

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 9) 25,980 30,480
Accrued contracts 1,335,164 775,000
1,361,144 805,480

9. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 33,667 4,500

Amounts falling due between one and two years:
Bank loans - 1-2 years 25,980 30,480