REGISTERED NUMBER: 03414751 (England and Wales)

PRINT QUEST GRAPHICS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2018

Page

Company Information

1

Chartered Certified Accountants' Report

2

Abridged Balance Sheet

3

to

4

Notes to the Financial Statements

5

to

7

DIRECTORS:

D A Jarvis

C W Garner

SECRETARY:

A Taylor

REGISTERED OFFICE:

28 Dudley Street

Grimsby

N E Lincolnshire

DN31 2AB

REGISTERED NUMBER:

03414751 (England and Wales)

ACCOUNTANTS:

Weaver Wroot

28 Dudley Street

Grimsby

N E Lincolnshire

DN31 2AB

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and

the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Print Quest Graphics Limited for the year ended 31st March 2018 which comprise the Income

Statement, Abridged Balance Sheet and the related notes from the company's accounting records and from information

and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Print Quest Graphics Limited, as a body, in accordance with the terms of our engagement letter dated 16th September 2014. Our work has been undertaken solely to prepare for your approval the financial statements of Print Quest Graphics Limited and state those matters that we have agreed to state to the Board of Directors of Print Quest Graphics Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Print Quest Graphics Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Print Quest Graphics Limited. You consider that Print Quest Graphics Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Print Quest Graphics Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Weaver Wroot

28 Dudley Street

Grimsby

N E Lincolnshire

DN31 2AB

3rd August 2018

FIXED ASSETS

Tangible assets

4

305,775

290,516

Investments

5

1

1

305,776

290,517

CURRENT ASSETS

Stocks

24,202

29,402

Debtors

6

440,149

503,897

Cash at bank

-

8,510

464,351

541,809

CREDITORS

Amounts falling due within one year

479,198

467,966

NET CURRENT (LIABILITIES)/ASSETS

(14,847

)

73,843

TOTAL ASSETS LESS CURRENT LIABILITIES

290,929

364,360

CREDITORS

Amounts falling due after more than one year

(116,961

)

(151,156

)

PROVISIONS FOR LIABILITIES

(55,355

)

(54,570

)

NET ASSETS

118,613

158,634

CAPITAL AND RESERVES

Called up share capital

30,001

30,001

Retained earnings

88,612

128,633

SHAREHOLDERS' FUNDS

118,613

158,634

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

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

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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31st March 2018 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 3rd August 2018 and were signed on its behalf by:

D A Jarvis - Director

1.	STATUTORY INFORMATION

Print Quest Graphics 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.

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 consists of invoiced goods and services net of returns, trade discounts and Value Added Tax.

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

-

20% on cost

Fixtures, fittings and office equipment

-

20% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks are valued at the lower of cost or 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 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 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.

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 16 (2017 - 15 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1st April 2017

802,952

Additions

121,610

At 31st March 2018

924,562

DEPRECIATION

At 1st April 2017

512,436

Charge for year

19,653

Eliminated on disposal

86,698

At 31st March 2018

618,787

NET BOOK VALUE

At 31st March 2018

305,775

At 31st March 2017

290,516

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST

At 1st April 2017

478,842

Additions

72,743

At 31st March 2018

551,585

DEPRECIATION

At 1st April 2017

226,121

Charge for year

3,659

Eliminated on disposal

86,698

At 31st March 2018

316,478

NET BOOK VALUE

At 31st March 2018

235,107

At 31st March 2017

252,721

5.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1st April 2017

and 31st March 2018

1

NET BOOK VALUE

At 31st March 2018

1

At 31st March 2017

1

6.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

as restated

£

£

Amounts owed by group undertakings

194,493

203,538

7.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

as restated

£

£

Bank overdraft

174,266

186,154

The bank overdraft provided by RBS Invoice Finance Limited is secured by way of a fixed and floating charge

over the undertaking and all property and assets present and future, including goodwill, uncalled capital,

buildings, fixtures, fixed plant & machinery.

8.	ULTIMATE CONTROLLING PARTY

The controlling party is D A Jarvis.