Registered number
08057215
Signs & Print Limited
Filleted Accounts
31 May 2023
Signs & Print Limited
Registered number: 08057215
Balance Sheet
as at 31 May 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 56,257 65,967
Current assets
Stocks 2,500 4,000
Debtors 4 - 676
Cash at bank and in hand 4,055 19,542
6,555 24,218
Creditors: amounts falling due within one year 5 4,813 975
Net current assets 11,368 25,193
Net assets 67,625 91,160
Capital and reserves
Called up share capital 2 2
Profit and loss account 67,623 91,158
Shareholders' funds 67,625 91,160
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
L Reeves
Director
Approved by the board on 9 October 2023
Signs & Print Limited
Notes to the Accounts
for the year ended 31 May 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles 15% reducing balance
Fixtures, fittings, tools and equipment 15%r educing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 June 2022 88,219 44,000 132,219
Additions 218 - 218
At 31 May 2023 88,437 44,000 132,437
Depreciation
At 1 June 2022 44,505 21,747 66,252
Charge for the year 6,590 3,338 9,928
At 31 May 2023 51,095 25,085 76,180
Net book value
At 31 May 2023 37,342 18,915 56,257
At 31 May 2022 43,714 22,253 65,967
4 Debtors 2023 2022
£ £
Trade debtors - 676
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts (6,813) (5,720)
Trade creditors 1,705 -
Taxation and social security costs 955 1,076
Other creditors (660) 3,669
(4,813) (975)
6 Other information
Signs & Print Limited is a private company limited by shares and incorporated in England. Its registered office is:
46 Warner Drive
Braintree
Essex
CM7 2YW
Signs & Print Limited 08057215 false 2022-06-01 2023-05-31 2023-05-31 VT Final Accounts April 2022 L Reeves No description of principal activity 08057215 2021-06-01 2022-05-31 08057215 core:WithinOneYear 2022-05-31 08057215 core:ShareCapital 2022-05-31 08057215 core:RetainedEarningsAccumulatedLosses 2022-05-31 08057215 2022-06-01 2023-05-31 08057215 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 08057215 bus:AuditExempt-NoAccountantsReport 2022-06-01 2023-05-31 08057215 bus:Director40 2022-06-01 2023-05-31 08057215 1 2022-06-01 2023-05-31 08057215 2 2022-06-01 2023-05-31 08057215 core:PlantMachinery 2022-06-01 2023-05-31 08057215 core:Vehicles 2022-06-01 2023-05-31 08057215 countries:England 2022-06-01 2023-05-31 08057215 bus:FRS102 2022-06-01 2023-05-31 08057215 bus:FullAccounts 2022-06-01 2023-05-31 08057215 2023-05-31 08057215 core:WithinOneYear 2023-05-31 08057215 core:ShareCapital 2023-05-31 08057215 core:RetainedEarningsAccumulatedLosses 2023-05-31 08057215 core:PlantMachinery 2023-05-31 08057215 core:Vehicles 2023-05-31 08057215 2022-05-31 08057215 core:PlantMachinery 2022-05-31 08057215 core:Vehicles 2022-05-31 iso4217:GBP xbrli:pure