QPS Print Ltd - Limited company - abbreviated - 11.6

QPS Print Ltd - Limited company - abbreviated - 11.6

QPS PRINT LIMITED - Company Information

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REGISTERED NUMBER: 04063296 (England and Wales)















Abbreviated Unaudited Accounts

for the Year Ended 31 March 2015

for

QPS Print Ltd

QPS Print Ltd (Registered number: 04063296)






Contents of the Abbreviated Accounts
for the Year Ended 31 March 2015




Page

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 3

QPS Print Ltd (Registered number: 04063296)

Abbreviated Balance Sheet
31 March 2015

31.3.15 31.3.14
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 2 214,493 235,476

CURRENT ASSETS
Stocks 15,750 14,500
Debtors 506,340 524,952
Cash at bank and in hand 138,734 142,816
660,824 682,268
CREDITORS
Amounts falling due within one year 381,290 276,764
NET CURRENT ASSETS 279,534 405,504
TOTAL ASSETS LESS CURRENT
LIABILITIES
494,027
640,980

PROVISIONS FOR LIABILITIES 35,169 37,329
NET ASSETS 458,858 603,651

CAPITAL AND RESERVES
Called up share capital 3 50,000 50,000
Profit and loss account 408,858 553,651
SHAREHOLDERS' FUNDS 458,858 603,651

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2015 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 notes form part of these abbreviated accounts

Page 1 continued...
QPS Print Ltd (Registered number: 04063296)

Abbreviated Balance Sheet - continued
31 March 2015


The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.


The financial statements were approved by the Board of Directors on 14 July 2015 and were signed on its behalf by:




S J Copeland - Director



R D Fairweather - Director


The notes form part of these abbreviated accounts

Page 2
QPS Print Ltd (Registered number: 04063296)

Notes to the Abbreviated Accounts
for the Year Ended 31 March 2015

1. ACCOUNTING POLICIES

Accounting convention
The financial statements have been prepared under the historical cost convention and in accordance with the
Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover
Turnover represents net invoiced sales of goods, excluding value added tax.

Revenue is recognised as the company becomes entitled to consideration for the services supplied. Therefore,
turnover also includes the element of work completed but not yet invoiced.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery - 15% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance
sheet date.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held
under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases
are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The
capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account 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 the profit and loss account in the period to which they relate.

Page 3 continued...
QPS Print Ltd (Registered number: 04063296)

Notes to the Abbreviated Accounts - continued
for the Year Ended 31 March 2015

2. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 April 2014 581,085
Additions 20,549
At 31 March 2015 601,634
DEPRECIATION
At 1 April 2014 345,609
Charge for year 41,532
At 31 March 2015 387,141
NET BOOK VALUE
At 31 March 2015 214,493
At 31 March 2014 235,476

3. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.15 31.3.14
value: £    £   
50,000 Ordinary £1 50,000 50,000

4. ULTIMATE PARENT COMPANY

QPS Holdings Limited is regarded by the directors as being the company's ultimate parent company.

Page 4