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REGISTERED NUMBER: 01723618 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

FOR

TPS VISUAL COMMUNICATIONS LIMITED

TPS VISUAL COMMUNICATIONS LIMITED (REGISTERED NUMBER: 01723618)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TPS VISUAL COMMUNICATIONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: M Adams
L T W Alderman
A A Davies





SECRETARY: Ms K J Pearce





REGISTERED OFFICE: Warner House
Jubilee Business Park
Jubilee Road
Letchworth
Hertfordshire
SG6 1SP





REGISTERED NUMBER: 01723618 (England and Wales)





ACCOUNTANTS: Barker Wilkinson Limited
19-21 Middle Row
Stevenage
Hertfordshire
SG1 3AW

TPS VISUAL COMMUNICATIONS LIMITED (REGISTERED NUMBER: 01723618)

BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 307,319 251,626

CURRENT ASSETS
Stocks 825,803 838,655
Debtors 5 2,228,370 2,005,643
Cash at bank and in hand 393,957 188,963
3,448,130 3,033,261
CREDITORS
Amounts falling due within one year 6 1,172,289 997,704
NET CURRENT ASSETS 2,275,841 2,035,557
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,583,160

2,287,183

CREDITORS
Amounts falling due after more than one year 7 (26,600 ) (18,133 )

PROVISIONS FOR LIABILITIES (70,287 ) (54,717 )
NET ASSETS 2,486,273 2,214,333

CAPITAL AND RESERVES
Called up share capital 2,000 2,000
Retained earnings 2,484,273 2,212,333
2,486,273 2,214,333

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 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.

TPS VISUAL COMMUNICATIONS LIMITED (REGISTERED NUMBER: 01723618)

BALANCE SHEET - continued
31 AUGUST 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 May 2025 and were signed on its behalf by:





L T W Alderman - Director


TPS VISUAL COMMUNICATIONS LIMITED (REGISTERED NUMBER: 01723618)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1. STATUTORY INFORMATION

TPS Visual Communications 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.

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.

The directors have assessed various factors and risks affecting the company and its ability in these difficult economic times to continue to trade as a going concern. The directors have not identified any material uncertainties or risks related to events or conditions that could affect the carrying values of the company's assets and liabilities as at the balance sheet date and therefore the financial statements for the period ended 31st August 2024 have been prepared using the going concern basis of accounting.

Significant judgements and estimates
In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from those estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

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.
Leasehold alterations - Over the term of the lease
Plant and machinery - 30% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

TPS VISUAL COMMUNICATIONS LIMITED (REGISTERED NUMBER: 01723618)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The directors consider all financial instruments to be basic financial instruments in accordance with paragraph 11 of FRS102. All basic financial instruments including trade and other debtors, cash and cash equivalents, and trade and other creditors, are initially recognised at transaction price and thereafter stated at amortised cost.

Trade and other receivables and payables

Trade and other receivables and payables are measured at amortised cost which approximates to fair value given the short term nature of these assets and liabilities.

Trade receivables are valued at original invoice amount less an allowance for potentially un-collectable debts. Provision is made where there is objective evidence to suggest that the company will not be in a position to collect receivables as they fall due. Bad and Doubtful debts are written off in the profit and loss account on identification.

Cash and cash equivalents

Cash and cash equivalents comprise cash balances held for the purposes of meeting short-term cash commitments

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and 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.

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 40 (2023 - 39 ) .

TPS VISUAL COMMUNICATIONS LIMITED (REGISTERED NUMBER: 01723618)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Leasehold Plant and and Motor
alterations machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 September 2023 366,761 918,171 309,390 121,035 1,715,357
Additions 12,480 96,536 1,820 - 110,836
Disposals - (30,044 ) - - (30,044 )
At 31 August 2024 379,241 984,663 311,210 121,035 1,796,149
DEPRECIATION
At 1 September 2023 292,006 806,372 246,615 118,738 1,463,731
Charge for year 7,604 40,180 6,323 574 54,681
Eliminated on disposal - (29,582 ) - - (29,582 )
At 31 August 2024 299,610 816,970 252,938 119,312 1,488,830
NET BOOK VALUE
At 31 August 2024 79,631 167,693 58,272 1,723 307,319
At 31 August 2023 74,755 111,799 62,775 2,297 251,626

Included within the aggregate net book value of £307,319 (2023: £251,626) is
(A) £13,110 (2023: £18,728) relating to an asset, upon which loan finance was raised subsequent to the purchase of the asset.The depreciation charged for the year on such asset amounted to £5,618 (2023: £8,026) and
(B) £67,480 (2023: £36,057) relating to an asset held under a hire purchase agreement/finance lease. The depreciation charge for the year on such asset was £15,377 (2023: £15,453).

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,684,247 1,336,937
Other debtors 130,779 210,981
Directors' current accounts 236,066 302,159
Tax 66,623 66,623
Prepayments 110,655 88,943
2,228,370 2,005,643

TPS VISUAL COMMUNICATIONS LIMITED (REGISTERED NUMBER: 01723618)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 13,333 45,270
Hire purchase contracts 12,375 14,400
Trade creditors 908,784 686,297
Tax 83,302 57,875
Social security and other taxes 36,982 33,953
VAT 13,412 70,149
Other creditors 24,334 16,007
Accruals and deferred income 79,767 55,420
Accrued expenses - 18,333
1,172,289 997,704

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 15,733
Hire purchase contracts 26,600 2,400
26,600 18,133

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 13,333 61,003

The loan balance outstanding is in respect of a facility taken out under the government-backed Coronavirus Business Interruption Loan Scheme. Whilst the Government acts as guarantor, the company is liable for the debt.

9. OTHER FINANCIAL COMMITMENTS

The company had total financial commitments at the balance sheet date in respect of various operating leases of £75,104 (2023 £77,946).