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REGISTERED NUMBER: 05860285 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 March 2023

for

HFE Signs Limited

HFE Signs Limited (Registered number: 05860285)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


HFE Signs Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: K Hunter
Mrs E Hunter





SECRETARY: K Hunter





REGISTERED OFFICE: Unit 12A Lancaster Park
Newborough Road
Needwood
Burton-on-Trent
Staffordshire
DE13 9PD





REGISTERED NUMBER: 05860285 (England and Wales)





ACCOUNTANTS: Bourne & Co
Chartered Accountants
6 Lichfield Street
Burton-on-Trent
Staffordshire
DE14 3RD

HFE Signs Limited (Registered number: 05860285)

Abridged Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 184 551
Tangible assets 5 333,754 265,048
Investment property 6 325,000 325,000
658,938 590,599

CURRENT ASSETS
Stocks 14,605 12,497
Debtors 20,897 12,809
Cash at bank and in hand 28,021 16,415
63,523 41,721
CREDITORS
Amounts falling due within one year 225,159 216,069
NET CURRENT LIABILITIES (161,636 ) (174,348 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

497,302

416,251

CREDITORS
Amounts falling due after more than
one year

7

(282,185

)

(243,347

)

PROVISIONS FOR LIABILITIES (15,754 ) (3,348 )
NET ASSETS 199,363 169,556

HFE Signs Limited (Registered number: 05860285)

Abridged Balance Sheet - continued
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 10 18 18
Fair value reserve 11 63,368 63,368
Retained earnings 135,977 106,170
SHAREHOLDERS' FUNDS 199,363 169,556

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 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 applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2023 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 and authorised for issue on 25 October 2023 and were signed on its behalf by:





K Hunter - Director


HFE Signs Limited (Registered number: 05860285)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

HFE Signs 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 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, including discounts and rebates, and excluding value added tax and other sales taxes.

Income is recognised on the despatch of goods.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Trademarks are being amortised evenly over their estimated useful life of ten years.

Trademarks
Trademarks, being amounts paid in 2013, are being amortised evenly over the life of the trademark which is ten years.

Tangible fixed assets
Tangible fixed assets are included at cost less depreciation and impairment. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property- not provided
Plant and equipment- 20% on cost
Fixtures and fittings- 20% on cost
Motor vehicles- 25% on reducing balance
Computer equipment- 20% on cost

Provision for the depreciation on freehold property in accordance with the Companies Act 2006 and Financial Reporting Standard 102 has not been provided. It is the company`s policy to maintain its property in good condition which prolongs its useful economic life, in addition the directors review the residual value of the property on an annual basis and are of the opinion that any depreciation charge to date would be immaterial.

HFE Signs Limited (Registered number: 05860285)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Government grants
Grants received towards revenue expenditure are recognised as other income in the year in which the revenue expenditure is incurred.

Grants received towards capital expenditure are accounted for on the accruals basis and are released to the profit and loss account to match the depreciation policy of the asset to which they relate.

Job Retention Scheme grant income is recognised in the period to which the underlying furloughed staff costs relate. The payroll liability has been incurred by the entity, and it has therefore met the conditions for the claim.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks have been valued at the lower of cost and estimated selling price less costs to sell. Provision is made for obsolete and slow-moving stock where appropriate.

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.

HFE Signs Limited (Registered number: 05860285)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

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.

Debtors
Short term debtors are measured at transaction price less any impairment. Any losses arising from impairment are recognised in profit or loss.

Creditors
Short term creditors are measured at transaction price.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2022
and 31 March 2023 111,670
AMORTISATION
At 1 April 2022 111,119
Amortisation for year 367
At 31 March 2023 111,486
NET BOOK VALUE

At 31 March 2023 184
At 31 March 2022 551

HFE Signs Limited (Registered number: 05860285)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2022 529,546
Additions 82,733
Disposals (59,080 )
At 31 March 2023 553,199
DEPRECIATION
At 1 April 2022 264,498
Charge for year 14,027
Eliminated on disposal (59,080 )
At 31 March 2023 219,445
NET BOOK VALUE
At 31 March 2023 333,754
At 31 March 2022 265,048

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

Totals
£   
COST
Additions 82,485
At 31 March 2023 82,485
DEPRECIATION
Charge for year 8,248
At 31 March 2023 8,248
NET BOOK VALUE
At 31 March 2023 74,237

HFE Signs Limited (Registered number: 05860285)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 325,000
NET BOOK VALUE
At 31 March 2023 325,000
At 31 March 2022 325,000

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2019 63,368
Cost 261,632
325,000

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS
31.3.23 31.3.22
£    £   
Repayable by instalments
Bank loans more 5 yr by instal 53,820 66,611

8. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

31.3.23 31.3.22
£    £   
Net obligations repayable:
Within one year 11,572 -
Between one and five years 64,862 -
76,434 -

HFE Signs Limited (Registered number: 05860285)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Bank loans 247,443 285,045
Hire purchase contracts 76,434 -
323,877 285,045

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
18 Ordinary £1 18 18

11. RESERVES
Fair
value
reserve
£   
At 1 April 2022
and 31 March 2023 63,368