REGISTERED NUMBER: 04395723 (England and Wales)

SHARPS FABRIC PRINTERS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 OCTOBER 2023 TO 31 DECEMBER 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr J S Collins

REGISTERED OFFICE:

Westfield Industrial Estate

Kirk Lane

Yeadon

Leeds

West Yorkshire

LS19 7LX

REGISTERED NUMBER:

04395723 (England and Wales)

ACCOUNTANTS:

SMH Sheards

Vernon House

40 New North Road

Huddersfield

West Yorkshire

HD1 5LS

BANKERS:

Bank Of Scotland Plc

116 Wellington Street

Leeds

West Yorkshire

LS1 4LT

FIXED ASSETS

Tangible assets

4

95,530

108,419

CURRENT ASSETS

Stocks

79,556

139,337

Debtors

5

141,927

158,365

Cash at bank and in hand

307,103

309,925

528,586

607,627

CREDITORS

Amounts falling due within one year

6

(161,956

)

(127,797

)

NET CURRENT ASSETS

366,630

479,830

TOTAL ASSETS LESS CURRENT LIABILITIES

462,160

588,249

PROVISIONS FOR LIABILITIES

7

(16,529

)

(19,743

)

NET ASSETS

445,631

568,506

CAPITAL AND RESERVES

Called up share capital

25,000

25,000

Capital redemption reserve

75,000

75,000

Retained earnings

345,631

468,506

SHAREHOLDERS' FUNDS

445,631

568,506

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

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

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 11 September 2025 and were signed by:

Mr J S Collins - Director

1.	STATUTORY INFORMATION

Sharps Fabric Printers 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 (£).

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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover is represented by the invoiced sales of goods, excluding VAT, which are recognised when the goods are provided.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

10% on cost and 20 years straight line monthly

Plant and machinery

-

50% on cost, 33% on cost, 33.33% on cost, 20% on cost, 12.5% on cost, 10% on cost, 6.67% on cost, Straight line over 6 years and Straight line over 3 years

Fixtures and fittings

-

33% on reducing balance, 20% on cost, 12.5% on cost and 10% on cost

Computer equipment

-

33% straight line, 33.33% on cost, 12.5% on cost and Straight line over 3 years

Stocks

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

Financial instruments

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs.

Financial assets are assessed for indicators of impairment at each balance sheet date, with any impairment losses being recognised in profit or loss. If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed in profit or loss.

Financial liabilities are classified depending on the substance of the contractual arrangements entered into.

Basic financial liabilities, including trade and other creditors and accruals are initially recognised at transaction price.

Financial assets and liabilities are derecognised when the company's contractual obligations are settled, cancelled or they expire.

Taxation

Taxation for the period 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 period 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 period was 12 (2023 - 12 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 October 2023

111,934

383,362

495,296

Additions

-

12,161

12,161

At 31 December 2024

111,934

395,523

507,457

DEPRECIATION

At 1 October 2023

107,426

279,451

386,877

Charge for period

4,244

20,806

25,050

At 31 December 2024

111,670

300,257

411,927

NET BOOK VALUE

At 31 December 2024

264

95,266

95,530

At 30 September 2023

4,508

103,911

108,419

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

130,081

143,206

Other debtors

11,846

15,159

141,927

158,365

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

117,989

84,216

Taxation and social security

19,486

28,646

Other creditors

24,481

14,935

161,956

127,797

7.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

Accelerated capital allowances

16,529

19,743

Deferred

tax

£

Balance at 1 October 2023

19,743

Credit to Income Statement during period

(3,214

)

Balance at 31 December 2024

16,529

8.	RELATED PARTY DISCLOSURES

Loans owing to the director on an interest free basis of £0 (2023: £1,340) were outstanding at the year end.

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr Tariq Rashid.

The immediate parent company is Skopos Fabrics Limited, a company incorporated in England. The ultimate parent company is Skopos Limited, a company formed in Canada.

The ultimate parent company address is:

1620 Ramshaw Crescent

Milton

Ontario

L9T 5M3

Canada