Technical Press Supplies Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 03670348 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

TECHNICAL PRESS SUPPLIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J M Swords Jnr

L Swords

REGISTERED OFFICE:

Rae House

Dane Street

Bishops Stortford

Herts

CM23 3BT

BUSINESS ADDRESS:

C/O Revive Health and Fitness

Darkes Lane

Potters Bar

Herts

EN6 1DE

REGISTERED NUMBER:

03670348 (England and Wales)

ACCOUNTANTS:

Barrow LLP

Rae House

Dane Street

Bishops Stortford

Herts

CM23 3BT

CURRENT ASSETS

Stocks

15,000

18,105

Debtors

6

80,126

79,415

Cash at bank

-

450

95,126

97,970

CREDITORS

Amounts falling due within one year

7

(85,944

)

(93,638

)

NET CURRENT ASSETS

9,182

4,332

TOTAL ASSETS LESS CURRENT LIABILITIES

9,182

4,332

CREDITORS

Amounts falling due after more than one year

8

(10,127

)

(16,069

)

NET LIABILITIES

(945

)

(11,737

)

CAPITAL AND RESERVES

Called up share capital

10

100

Retained earnings

(1,045

)

(11,837

)

SHAREHOLDERS' FUNDS

(945

)

(11,737

)

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

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

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 Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 September 2025 and were signed on its behalf by:

J M Swords Jnr - Director

L Swords - Director

1.	STATUTORY INFORMATION

Technical Press Supplies 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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.

Tangible fixed assets

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

Plant and machinery

-

25% on cost

Fixtures and fittings

-

25% on cost

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.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instruments.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes, in effect, a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Other financial instruments are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account 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.

Going concern

The directors are of the opinion it is appropriate to prepare the accounts on a going concern basis, because they have confirmed that they will continue to support the company for the foreseeable future.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 4 ) .

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

COST

At 1 January 2024

and 31 December 2024

86,300

4,478

5,519

96,297

DEPRECIATION

At 1 January 2024

and 31 December 2024

86,300

4,478

5,519

96,297

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Trade debtors

21,263

12,284

Other debtors

58,863

67,131

80,126

79,415

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Bank loans and overdrafts

27,867

31,150

Trade creditors

23,037

16,968

Taxation and social security

13,360

20,051

Other creditors

21,680

25,469

85,944

93,638

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

Bank loans

10,127

16,069

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

Bank overdrafts

19,402

19,880

Bank loans

18,592

27,339

37,994

47,219

J M Swords and L Swords have provided joint and several personal guarantees that are limited to £20,500 to the company's bank in support of the facilities that have been made available to the company.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

40

Ordinary A

£1

40

60

Ordinary B

£1

60

100

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

31.12.24

31.12.23

£

L Swords

Balance outstanding at start of year

23,787

32,960

Amounts advanced

6,941

-

Amounts repaid

(10,829

)

(9,173

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

19,899

23,787

J M Swords Jnr

Balance outstanding at start of year

25,362

31,808

Amounts advanced

4,721

-

Amounts repaid

(8,987

)

(6,446

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

21,096

25,362

Interest is charged on the overdrawn director accounts at the HMRC approved rate of interest. The loans are repayable on demand.