Company registration number 03205383 (England and Wales)
LANDSCAPE PRINTING SYSTEMS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
PAGES FOR FILING WITH REGISTRAR
LANDSCAPE PRINTING SYSTEMS LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 11
LANDSCAPE PRINTING SYSTEMS LIMITED
BALANCE SHEET
AS AT 31 AUGUST 2025
31 August 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
4
22,349
-
0
Tangible assets
5
11,130
1,940
33,479
1,940
Current assets
Stocks
615,041
174,230
Debtors
6
5,010,449
4,211,720
Cash at bank and in hand
2,461,892
1,860,749
8,087,382
6,246,699
Creditors: amounts falling due within one year
7
(3,824,550)
(2,018,069)
Net current assets
4,262,832
4,228,630
Total assets less current liabilities
4,296,311
4,230,570
Creditors: amounts falling due after more than one year
8
(393,684)
(533,942)
Net assets
3,902,627
3,696,628
Capital and reserves
Called up share capital
9
120
120
Profit and loss reserves
3,902,507
3,696,508
Total equity
3,902,627
3,696,628

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

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

The financial statements were approved by the board of directors and authorised for issue on 15 April 2026 and are signed on its behalf by:
S J Hawkins
S McDonald
Director
Director
Company registration number 03205383 (England and Wales)
LANDSCAPE PRINTING SYSTEMS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 AUGUST 2025
- 2 -
Called up share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 September 2023
120
3,750,033
3,750,153
Year ended 31 August 2024:
Loss and total comprehensive expense
-
(53,525)
(53,525)
Balance at 31 August 2024
120
3,696,508
3,696,628
Year ended 31 August 2025:
Profit and total comprehensive income
-
205,999
205,999
Balance at 31 August 2025
120
3,902,507
3,902,627
LANDSCAPE PRINTING SYSTEMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
- 3 -
1
Accounting policies
Company information

Landscape Printing Systems Limited (the "company") is a private company limited by shares and incorporated in England and Wales. The registered office is Ashridge House, Oaklands Park, Wokingham, Berkshire, RG41 2FD.

1.1
Basis of preparation

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 a mounts in these financial statements are rounded to the nearest £1.

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

1.2
Going concern

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

1.3
Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

Revenue for goods is recognised at the point of sale which is generally considered to be that of the contract activation date which is the earlier of the installation date and the date the certificate of acceptance was signed by the customer.

Revenue from maintenance and support services is recognised over the contracted term of supply. Turnover from one-off services is recognised when the service is delivered.

Turnover recognised but not invoiced as at the balance sheet date is included in accrued income. Turnover invoiced but not recognisable as at the balance sheet date is included under deferred income.

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.

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:

Software
3 years straight line
1.5
Tangible fixed assets

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

LANDSCAPE PRINTING SYSTEMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
1
Accounting policies
(Continued)
- 4 -

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

Plant and equipment
20% on reducing balance
Fixtures and fittings
20% on reducing balance
Computers
33% on reducing balance
Motor vehicles
25% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Impairment of fixed assets

At each reporting date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.7
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.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stock over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.8
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

1.9
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.

Basic financial assets

Basic financial assets, which include trade and other debtors, amounts owed by group undertakings, and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

LANDSCAPE PRINTING SYSTEMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
1
Accounting policies
(Continued)
- 5 -
Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is 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. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including trade and other creditors, and amounts owed to group undertakings, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.10
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.11
Taxation

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

LANDSCAPE PRINTING SYSTEMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
1
Accounting policies
(Continued)
- 6 -
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.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. 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.

1.12
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.13
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. Differences between contributions payable in the year and contributions actually paid are held as other creditors.

1.14
Leases
As lessee

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

1.15
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

LANDSCAPE PRINTING SYSTEMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 7 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Stock valuation and obsolescence

Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in-fist-out (FIFO) method. Estimated selling price less costs to complete and sell, includes, where necessary, provisions for slow moving and obsolete stocks. The estimation of these provisions takes into consideration the forecasted customer demand, the promotional, competitive and economic environment as well as the ageing of stock and the discontinuation of certain product lines by the key suppliers. These variables are monitored by the directors and a provision is in place to mitigate the relevant risks.

Bad debt provision

Having taken into consideration the historic and current level of bad debts, the directors consider it appropriate to have a general bad debt provision in place which is calculated at 1% of trade debtors. The relevant figure is then adjusted accordingly, if it is considered necessary, as a result of significant bad debts and/or due to underlying economic conditions which suggest a higher than normal risk of bad debts.

Warranty provision

Warranty provisions are accounted for when there is a contractual obligation for the company to cover the costs of machine repairs and/or replacements. The provisions are based on the estimated cost of parts, labour and/or replacement machines and they are determined on a contract by contract basis.

3
Employees

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

2025
2024
Number
Number
Total
28
33
LANDSCAPE PRINTING SYSTEMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 8 -
4
Intangible fixed assets
Software
£
Cost
At 1 September 2024
-
0
Additions
29,700
At 31 August 2025
29,700
Amortisation and impairment
At 1 September 2024
-
0
Amortisation charged for the year
7,351
At 31 August 2025
7,351
Carrying amount
At 31 August 2025
22,349
At 31 August 2024
-
0
5
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 September 2024
-
0
3,216
2,787
27,130
33,133
Additions
10,437
-
0
-
0
-
0
10,437
At 31 August 2025
10,437
3,216
2,787
27,130
43,570
Depreciation and impairment
At 1 September 2024
-
0
3,066
997
27,130
31,193
Depreciation charged in the year
267
150
830
-
0
1,247
At 31 August 2025
267
3,216
1,827
27,130
32,440
Carrying amount
At 31 August 2025
10,170
-
0
960
-
0
11,130
At 31 August 2024
-
0
150
1,790
-
0
1,940
LANDSCAPE PRINTING SYSTEMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 9 -
6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
1,791,122
2,319,391
Amounts owed by group undertakings
2,999,735
1,489,376
Other debtors
5,186
12,204
Prepayments and accrued income
156,899
325,643
4,952,942
4,146,614
Deferred tax asset
4,711
11,007
4,957,653
4,157,621
2025
2024
Amounts falling due after more than one year:
£
£
Other debtors
52,796
54,099
Total debtors
5,010,449
4,211,720
7
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
2,064,140
369,766
Amounts owed to group undertakings
98,965
244,600
Corporation tax
63,433
-
0
Other taxation and social security
417,432
218,852
Other creditors
22,700
23,684
Accruals and deferred income
1,157,880
1,161,167
3,824,550
2,018,069

On 6 June 2017, HSBC Bank plc created a fixed and floating charge over all the property and undertaking of the company.

There exists an unlimited multilateral agreement dated 6 June 2017 between First Copy IT Limited (formerly Xeretec Group Holdings Limited), Xeretec Group Limited, Xeretec Office Systems Limited, Xeretec Scotland Limited, Landscape Holdings Limited and Landscape Printing Systems Limited with respect to group borrowings. As at 31 August 2025, total group bank borrowings amounted to £10,500,000.

8
Creditors: amounts falling due after more than one year
2025
2024
£
£
Accruals and deferred income
393,684
533,942
LANDSCAPE PRINTING SYSTEMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 10 -
9
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
120
120
120
120

The Ordinary shares each carry full voting, dividend and capital distribution rights, including on winding up. They do not confer any rights of redemption.

10
Operating lease commitments
As lessee

At the reporting date, the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2025
2024
£
£
Total commitments
2,226
6,678
11
Related party transactions

The company has taken advantage of the exemption provided by FRS 102 Section 33, not to disclose transactions and outstanding balances with Xeretec Group Limited and its 100% directly or indirectly controlled subsidiary undertakings which form part of the Xeretec Group.

The company maintains current account balances with Xeretec Office Systems Limited, a fellow subsidiary undertaking within the Xeretec Group. The associated transactions relate mainly to intercompany loans and bank transfers.

At the year end date, the company owed £39,158 (2024: £244,600) to Xeretec Office Systems Limited.

12
Parent company

The immediate and ultimate parent company is Xeretec Group Limited, a company registered in England and Wales.

The smallest and largest group which draws up consolidated financial statements including Landscape Printing Systems Limited, is that headed by Xeretec Group Limited. Copies of the group financial statements are available from its registered office Ashridge House, Oaklands Park, Wokingham, Berkshire, RG41 2FD.

13
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

LANDSCAPE PRINTING SYSTEMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
13
Audit report information
(Continued)
- 11 -
Opinion

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 August 2025 and of its profit for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Senior Statutory Auditor:
Nikolaos Ioannidis
Statutory Auditor:
Shaw Gibbs (Audit) Limited
Date of audit report:
16 April 2026
2025-08-31 2024-09-01 false false false 16 April 2026 CCH Software CCH Accounts Production 2025.200 No description of principal activity S J Hawkins S McDonald C J Barnes M Correia S McDonald 03205383 2024-09-01 2025-08-31 03205383 2025-08-31 03205383 2024-08-31 03205383 core:IntangibleAssetsOtherThanGoodwill 2025-08-31 03205383 core:IntangibleAssetsOtherThanGoodwill 2024-08-31 03205383 core:PlantMachinery 2025-08-31 03205383 core:FurnitureFittings 2025-08-31 03205383 core:ComputerEquipment 2025-08-31 03205383 core:MotorVehicles 2025-08-31 03205383 core:PlantMachinery 2024-08-31 03205383 core:FurnitureFittings 2024-08-31 03205383 core:ComputerEquipment 2024-08-31 03205383 core:MotorVehicles 2024-08-31 03205383 core:ShareCapital 2025-08-31 03205383 core:ShareCapital 2024-08-31 03205383 core:RetainedEarningsAccumulatedLosses 2025-08-31 03205383 core:RetainedEarningsAccumulatedLosses 2024-08-31 03205383 core:ShareCapital 2023-08-31 03205383 core:RetainedEarningsAccumulatedLosses 2023-08-31 03205383 core:ShareCapitalOrdinaryShareClass1 2025-08-31 03205383 core:ShareCapitalOrdinaryShareClass1 2024-08-31 03205383 bus:Director1 2024-09-01 2025-08-31 03205383 bus:CompanySecretaryDirector1 2024-09-01 2025-08-31 03205383 core:RetainedEarningsAccumulatedLosses 2023-09-01 2024-08-31 03205383 2023-09-01 2024-08-31 03205383 core:RetainedEarningsAccumulatedLosses 2024-09-01 2025-08-31 03205383 core:IntangibleAssetsOtherThanGoodwill 2024-09-01 2025-08-31 03205383 core:ComputerSoftware 2024-09-01 2025-08-31 03205383 core:PlantMachinery 2024-09-01 2025-08-31 03205383 core:FurnitureFittings 2024-09-01 2025-08-31 03205383 core:ComputerEquipment 2024-09-01 2025-08-31 03205383 core:MotorVehicles 2024-09-01 2025-08-31 03205383 core:IntangibleAssetsOtherThanGoodwill 2024-08-31 03205383 core:PlantMachinery 2024-08-31 03205383 core:FurnitureFittings 2024-08-31 03205383 core:ComputerEquipment 2024-08-31 03205383 core:MotorVehicles 2024-08-31 03205383 2024-08-31 03205383 core:CurrentFinancialInstruments 2025-08-31 03205383 core:CurrentFinancialInstruments 2024-08-31 03205383 core:Non-currentFinancialInstruments 2025-08-31 03205383 core:Non-currentFinancialInstruments 2024-08-31 03205383 bus:OrdinaryShareClass1 2024-09-01 2025-08-31 03205383 bus:OrdinaryShareClass1 2025-08-31 03205383 bus:OrdinaryShareClass1 2024-08-31 03205383 bus:PrivateLimitedCompanyLtd 2024-09-01 2025-08-31 03205383 bus:SmallCompaniesRegimeForAccounts 2024-09-01 2025-08-31 03205383 bus:FRS102 2024-09-01 2025-08-31 03205383 bus:Audited 2024-09-01 2025-08-31 03205383 bus:Director2 2024-09-01 2025-08-31 03205383 bus:Director3 2024-09-01 2025-08-31 03205383 bus:Director4 2024-09-01 2025-08-31 03205383 bus:CompanySecretary1 2024-09-01 2025-08-31 03205383 bus:FullAccounts 2024-09-01 2025-08-31 xbrli:pure xbrli:shares iso4217:GBP