QPS Print Limited - Accounts to registrar (filleted) - small 18.1

QPS Print Limited - Accounts to registrar (filleted) - small 18.1


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REGISTERED NUMBER: 04063296 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 March 2018

for

QPS Print Limited

QPS Print Limited (Registered number: 04063296)






Contents of the Financial Statements
for the Year Ended 31 March 2018




Page

Balance Sheet 1

Notes to the Financial Statements 3


QPS Print Limited (Registered number: 04063296)

Balance Sheet
31 March 2018

2018 2017
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 283,972 329,447

CURRENT ASSETS
Stocks 25,000 25,000
Debtors 5 472,541 460,112
Cash at bank and in hand 156,522 201,093
654,063 686,205
CREDITORS
Amounts falling due within one year 6 412,074 510,461
NET CURRENT ASSETS 241,989 175,744
TOTAL ASSETS LESS CURRENT LIABILITIES 525,961 505,191

CREDITORS
Amounts falling due after more than one
year

7

(22,963

)

(44,750

)

PROVISIONS FOR LIABILITIES (73,916 ) (96,255 )
NET ASSETS 429,082 364,186

CAPITAL AND RESERVES
Called up share capital 50,000 50,000
Retained earnings 379,082 314,186
SHAREHOLDERS' FUNDS 429,082 364,186

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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.

QPS Print Limited (Registered number: 04063296)

Balance Sheet - continued
31 March 2018


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Profit And Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 8 June 2018 and were signed on its behalf by:




S J Copeland - Director



R D Fairweather - Director


QPS Print Limited (Registered number: 04063296)

Notes to the Financial Statements
for the Year Ended 31 March 2018

1. STATUTORY INFORMATION

QPS Print Limited is a private company, limited by shares , registered in England and Wales. The company's
registered number and registered office address are as below:

Registered number: 04063296

Registered office: Turning House
Dewsbury Road
Fenton
Stoke on Trent
Staffordshire
ST4 2TE

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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. 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.

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.
Improvements to property - 2% on cost
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.

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


QPS Print Limited (Registered number: 04063296)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2018

2. ACCOUNTING POLICIES - continued
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
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 profit or loss over the relevant period. The capital
element of the future payments is treated as a liability.

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 26 (2017 - 25 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 April 2017 7,756 625,951 98,338
Additions - 3,367 232
At 31 March 2018 7,756 629,318 98,570
DEPRECIATION
At 1 April 2017 155 360,915 51,941
Charge for year 155 40,261 11,657
At 31 March 2018 310 401,176 63,598
NET BOOK VALUE
At 31 March 2018 7,446 228,142 34,972
At 31 March 2017 7,601 265,036 46,397

QPS Print Limited (Registered number: 04063296)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2018

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2017 18,270 38,989 789,304
Additions - 9,873 13,472
At 31 March 2018 18,270 48,862 802,776
DEPRECIATION
At 1 April 2017 10,889 35,957 459,857
Charge for year 1,845 5,029 58,947
At 31 March 2018 12,734 40,986 518,804
NET BOOK VALUE
At 31 March 2018 5,536 7,876 283,972
At 31 March 2017 7,381 3,032 329,447

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 April 2017
and 31 March 2018 104,287
DEPRECIATION
At 1 April 2017 15,643
Charge for year 13,297
At 31 March 2018 28,940
NET BOOK VALUE
At 31 March 2018 75,347
At 31 March 2017 88,644

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Trade debtors 307,253 287,112
Amounts owed by group undertakings 156,019 156,019
Other debtors 9,269 16,981
472,541 460,112

QPS Print Limited (Registered number: 04063296)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2018

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Bank loans and overdrafts - 70,550
Hire purchase contracts 20,550 20,550
Trade creditors 117,144 115,466
Taxation and social security 136,861 61,938
Other creditors 137,519 241,957
412,074 510,461

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2018 2017
£    £   
Hire purchase contracts 22,963 44,750

8. SECURED DEBTS

The following secured debts are included within creditors:

2018 2017
£    £   
Hire purchase contracts 43,513 65,300

9. FINANCIAL COMMITMENTS

The financial commitments, which are not included in the balance sheet amount to £137,268 (2017 : £177,782).
These financial commitments represent the total amount of payments for various leases ending in several years
between 2019 and 2021.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is QPS (Holdings) Limited