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REGISTERED NUMBER: 01460970 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Nero Signs (Glass/Designs) Limited

Nero Signs (Glass/Designs) Limited (Registered number: 01460970)






Contents of the Financial Statements
for the year ended 31 March 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Nero Signs (Glass/Designs) Limited

Company Information
for the year ended 31 March 2023







DIRECTOR: K L G Jenkins





SECRETARY: K L G Jenkins





REGISTERED OFFICE: Rear of 332/334 Brixton Road
London
SW9 7AA





REGISTERED NUMBER: 01460970 (England and Wales)





ACCOUNTANTS: ah partnership
Chartered Accountants
Stanley House
49 Dartford Road
Sevenoaks
Kent
TN13 3TE

Nero Signs (Glass/Designs) Limited (Registered number: 01460970)

Statement of Financial Position
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,060,038 1,071,848

CURRENT ASSETS
Stocks 16,409 23,037
Debtors 5 83,159 39,198
Cash at bank and in hand 8,569 1
108,137 62,236
CREDITORS
Amounts falling due within one year 6 132,092 165,045
NET CURRENT LIABILITIES (23,955 ) (102,809 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,036,083

969,039

CREDITORS
Amounts falling due after more than one
year

7

3,286,700

3,286,700
NET LIABILITIES (2,250,617 ) (2,317,661 )

CAPITAL AND RESERVES
Called up share capital 320,000 320,000
Retained earnings (2,570,617 ) (2,637,661 )
(2,250,617 ) (2,317,661 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Nero Signs (Glass/Designs) Limited (Registered number: 01460970)

Statement of Financial Position - continued
31 March 2023


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 October 2023 and were signed by:





K L G Jenkins - Director


Nero Signs (Glass/Designs) Limited (Registered number: 01460970)

Notes to the Financial Statements
for the year ended 31 March 2023

1. STATUTORY INFORMATION

Nero Signs (Glass/Designs) 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. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

The accounts have been prepared on the going concern basis, which the Director considers appropriate as although the company has net liabilities at the balance sheet date of £2,250,617 (2022: £2,317,661), the liabilities include a long term loan from a company, which is a shareholder in Nero Signs (Glass/Designs) Limited, amounting to £3,286,700 at the balance sheet date.
This related company intends to financially support this company until such time the borrowings can be repaid.

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.
Land and buildings - not provided
Plant and machinery etc - 25% on reducing balance and 20% 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 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 statement of financial position date.

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.

Nero Signs (Glass/Designs) Limited (Registered number: 01460970)

Notes to the Financial Statements - continued
for the year ended 31 March 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 8 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2022 1,011,765 438,272 1,450,037
Additions - 3,958 3,958
Disposals - (2,097 ) (2,097 )
At 31 March 2023 1,011,765 440,133 1,451,898
DEPRECIATION
At 1 April 2022 - 378,189 378,189
Charge for year - 15,768 15,768
Eliminated on disposal - (2,097 ) (2,097 )
At 31 March 2023 - 391,860 391,860
NET BOOK VALUE
At 31 March 2023 1,011,765 48,273 1,060,038
At 31 March 2022 1,011,765 60,083 1,071,848

No depreciation is provided on freehold property as the Directors consider the annual charge and accumulated depreciation are immaterial as a result of a very long estimated useful economic life, and a residual value which is not expected to diminish.
The company has decided not to adopt a policy of revaluation and will continue to disclose the property and subsequent additions at cost.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 27,896 6,790
Other debtors 55,263 32,408
83,159 39,198

Nero Signs (Glass/Designs) Limited (Registered number: 01460970)

Notes to the Financial Statements - continued
for the year ended 31 March 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 42,043
Hire purchase contracts - 6,800
Trade creditors 22,320 17,924
Taxation and social security 17,132 33,925
Other creditors 92,640 64,353
132,092 165,045

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Other creditors 3,286,700 3,286,700

Other creditors includes long term loans of £3,286,700 (2021: £3,286,700), which are unsecured and interest free, from a company which owns shares in Nero Signs (Glass/Designs ) Limited.

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdraft - 42,043
Hire purchase contracts - 6,800
- 48,843

The Director and the Company are in the process of arranging for the Bank to remove the Debenture they hold, which is a fixed and floating charge over assets of the company.

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£    £   
B F F Gabriel
Balance outstanding at start of year 1,019 1,019
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,019 1,019

Nero Signs (Glass/Designs) Limited (Registered number: 01460970)

Notes to the Financial Statements - continued
for the year ended 31 March 2023

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES - continued

K L G Jenkins
Balance outstanding at start of year 11,184 6,846
Amounts advanced - 4,338
Amounts repaid (3,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 8,184 11,184

Mr B F F Gabriel is no longer a director of the company. Amounts owed to him are now included in other creditors.

10. ULTIMATE CONTROLLING PARTY

The controlling party is K L G Jenkins.

The ultimate controlling party is K L G Jenkins.