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REGISTERED NUMBER: 08979746 (England and Wales)





Sign Concepts Ltd

Unaudited Financial Statements

for the Year Ended 31 March 2023






Sign Concepts Ltd (Registered number: 08979746)






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


Sign Concepts Ltd

Company Information
for the year ended 31 March 2023







DIRECTORS: L Burnett
A Grainger





REGISTERED OFFICE: Unit 2 Gower St
Bradford
West Yorkshire
BD5 7JF





REGISTERED NUMBER: 08979746 (England and Wales)





ACCOUNTANTS: Simon Hart FCCA
Hart Wright Accounting
Chartered Certified Accountants
24 Hall Drive
Sutton In Craven
North Yorkshire
BD20 7NH

Sign Concepts Ltd (Registered number: 08979746)

Statement of Financial Position
31 March 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 - 2,000
Tangible assets 5 40,631 63,166
40,631 65,166

CURRENT ASSETS
Stocks 4,000 4,000
Debtors 6 94,988 112,043
Cash at bank and in hand 36,199 45,404
135,187 161,447
CREDITORS
Amounts falling due within one year 7 (106,337 ) (119,791 )
NET CURRENT ASSETS 28,850 41,656
TOTAL ASSETS LESS CURRENT
LIABILITIES

69,481

106,822

CREDITORS
Amounts falling due after more than one
year

8

(31,273

)

(41,921

)
NET ASSETS 38,208 64,901

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 38,108 64,801
SHAREHOLDERS' FUNDS 38,208 64,901

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.

Sign Concepts Ltd (Registered number: 08979746)

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 Board of Directors and authorised for issue on 8 November 2023 and were signed on its behalf by:





L Burnett - Director


Sign Concepts Ltd (Registered number: 08979746)

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

1. STATUTORY INFORMATION

Sign Concepts Ltd 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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of five 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.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on reducing balance and 25% 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Sign Concepts Ltd (Registered number: 08979746)

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

2. ACCOUNTING POLICIES - continued

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.

Covid-19
On 11th March 2020, the World Health Organisation officially declared COVID-19 as a pandemic.

The accounts have been prepared on a going concern basis although there are indicators of financial impact in relation to COVID-19. The directors have taken what are considered all the necessary measures to protect the business from this to limit ant adverse impact.

The directors anticipate the company continuing to trade for the foreseeable future and are monitoring the situation.

Government grants
Government grants are recognised as other income once there is reasonable assurance that all conditions relating to the grant have been attained and that the grant will be received.

During the year the company was in receipt of relief in respect of the Bounce Back Loan Scheme (BBLS). The Business Interruption Payment made by the government on behalf of the company has bee brought in as grant income and reflects the amounts relating to the financial year.

During the year the company was in receipt of relief in respect of the Coronavirus Job Retention Scheme. The income is recorded based on the claim periods made relating to the financial year.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 April 2022
and 31 March 2023 11,000 11,000 22,000
AMORTISATION
At 1 April 2022 10,000 10,000 20,000
Charge for year 1,000 1,000 2,000
At 31 March 2023 11,000 11,000 22,000
NET BOOK VALUE
At 31 March 2023 - - -
At 31 March 2022 1,000 1,000 2,000

Sign Concepts Ltd (Registered number: 08979746)

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

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 110,379
Additions 2,731
At 31 March 2023 113,110
DEPRECIATION
At 1 April 2022 47,213
Charge for year 25,266
At 31 March 2023 72,479
NET BOOK VALUE
At 31 March 2023 40,631
At 31 March 2022 63,166

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 94,988 107,543
Other debtors - 4,500
94,988 112,043

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 44,420 60,723
Taxation and social security 36,318 33,109
Other creditors 25,599 25,959
106,337 119,791

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other creditors 31,273 41,921

Sign Concepts Ltd (Registered number: 08979746)

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

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bounce Back Loan Scheme 31,272 41,921

The UK Government have provided a 100% guarantee on the Bounce Back Loan Scheme (BBLS), borrowings obtained from the TSB in the year.

10. RELATED PARTY DISCLOSURES

Mrs V Burnett who is the wife of one of the shareholders, owns the property at Gower Street from which the company trades. Rent paid to Mrs Burnett for the use of the property amounted to £7,000 (PY:£4,900) in the year under review.

All transactions were undertaken in the ordinary course of business under normal commercial terms.

11. GOING CONCERN

The company is trading with the continued financial support of the Director for the foreseeable future. The company is expected to generate profits within the foreseeable future.