Caseware UK (AP4) 2022.0.179 2022.0.179 falseNo description of principal activity2022-04-0166truefalseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04321368 2022-04-01 2023-03-31 04321368 2021-04-01 2022-03-31 04321368 2023-03-31 04321368 2022-03-31 04321368 c:CompanySecretary1 2022-04-01 2023-03-31 04321368 c:Director1 2022-04-01 2023-03-31 04321368 c:RegisteredOffice 2022-04-01 2023-03-31 04321368 d:Buildings d:LongLeaseholdAssets 2022-04-01 2023-03-31 04321368 d:Buildings d:LongLeaseholdAssets 2023-03-31 04321368 d:Buildings d:LongLeaseholdAssets 2022-03-31 04321368 d:PlantMachinery 2022-04-01 2023-03-31 04321368 d:PlantMachinery 2023-03-31 04321368 d:PlantMachinery 2022-03-31 04321368 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 04321368 d:MotorVehicles 2022-04-01 2023-03-31 04321368 d:MotorVehicles 2023-03-31 04321368 d:MotorVehicles 2022-03-31 04321368 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 04321368 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 04321368 d:Goodwill 2022-04-01 2023-03-31 04321368 d:Goodwill 2023-03-31 04321368 d:Goodwill 2022-03-31 04321368 d:CurrentFinancialInstruments 2023-03-31 04321368 d:CurrentFinancialInstruments 2022-03-31 04321368 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 04321368 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 04321368 d:UKTax 2022-04-01 2023-03-31 04321368 d:UKTax 2021-04-01 2022-03-31 04321368 d:ShareCapital 2023-03-31 04321368 d:ShareCapital 2022-03-31 04321368 d:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 04321368 d:RetainedEarningsAccumulatedLosses 2023-03-31 04321368 d:RetainedEarningsAccumulatedLosses 2021-04-01 2022-03-31 04321368 d:RetainedEarningsAccumulatedLosses 2022-03-31 04321368 d:RetainedEarningsAccumulatedLosses 2021-04-01 04321368 c:OrdinaryShareClass1 2022-04-01 2023-03-31 04321368 c:OrdinaryShareClass1 2023-03-31 04321368 c:OrdinaryShareClass1 2022-03-31 04321368 c:OrdinaryShareClass2 2022-04-01 2023-03-31 04321368 c:OrdinaryShareClass2 2023-03-31 04321368 c:OrdinaryShareClass2 2022-03-31 04321368 c:FRS102 2022-04-01 2023-03-31 04321368 c:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 04321368 c:FullAccounts 2022-04-01 2023-03-31 04321368 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 04321368 d:WithinOneYear 2023-03-31 04321368 d:WithinOneYear 2022-03-31 04321368 d:BetweenOneFiveYears 2023-03-31 04321368 d:BetweenOneFiveYears 2022-03-31 04321368 2 2022-04-01 2023-03-31 04321368 d:Goodwill d:OwnedIntangibleAssets 2022-04-01 2023-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 04321368










Avenue Signs Limited








Unaudited

Director's report and financial statements

For the Year Ended 31 March 2023

 
Avenue Signs Limited
 

Company Information


Director
S Archer 




Company secretary
C Archer



Registered number
04321368



Registered office
Montague Place
Quayside

Chatham

Kent

ME4 4QU




Accountants
Kreston Reeves LLP
Chartered Accountants

Montague Place

Quayside

Chatham Maritime

Chatham

Kent

ME4 4QU





 
Avenue Signs Limited
 

Contents



Page
Director's report
 
 
1
Accountant's report
 
 
2
Statement of income and retained earnings
 
 
3
Balance sheet
 
 
4
Notes to the financial statements
 
 
5 - 11


 
Avenue Signs Limited
 

 
Director's report
For the Year Ended 31 March 2023

The director presents his report and the financial statements for the year ended 31 March 2023.

Director

The director who served during the year was:

S Archer 

Small companies note

In preparing this report, the director has taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board and signed on its behalf.
 





C Archer
Secretary
Date: 31 October 2023

Page 1

 
Avenue Signs Limited
 
  
Chartered accountants' report to the director on the preparation of the unaudited statutory financial statements of Avenue Signs Limited for the Year Ended 31 March 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Avenue Signs Limited for the year ended 31 March 2023 which comprise the Statement of income and retained earnings, the 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 Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the director of Avenue Signs Limited in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Avenue Signs Limited  and state those matters that we have agreed to state to the director of Avenue Signs Limited in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Avenue Signs Limited and its director for our work or for this report. 

It is your duty to ensure that Avenue Signs 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 Avenue Signs Limited. You consider that Avenue Signs Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Avenue Signs 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.

  



Kreston Reeves LLP
Chartered Accountants
Montague Place
Quayside
Chatham Maritime
Chatham
Kent
ME4 4QU
31 October 2023
Page 2

 
Avenue Signs Limited
 

Statement of income and retained earnings
For the Year Ended 31 March 2023

2023
2022
Note
£
£

  

Turnover
  
315,925
400,517

Cost of sales
  
(81,672)
(88,053)

Gross profit
  
234,253
312,464

Administrative expenses
  
(211,330)
(197,149)

Other operating income
  
-
8,044

Operating profit
  
22,923
123,359

Interest receivable and similar income
 4 
221
40

Profit before tax
  
23,144
123,399

Tax on profit
 5 
(2,512)
(25,612)

Profit after tax
  
20,632
97,787

  

  

Retained earnings at the beginning of the year
  
225,639
133,582

  
225,639
133,582

Profit for the year
  
20,632
97,787

Dividends declared and paid
  
(18,000)
(5,730)

Retained earnings at the end of the year
  
228,271
225,639
The notes on pages 5 to 11 form part of these financial statements.

Page 3

 
Avenue Signs Limited
Registered number: 04321368

Balance sheet
As at 31 March 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 7 
-
12,500

Tangible assets
 8 
31,813
15,175

  
31,813
27,675

Current assets
  

Stocks
  
12,756
10,907

Debtors: amounts falling due within one year
 9 
49,356
62,485

Cash at bank and in hand
  
166,661
185,098

  
228,773
258,490

Creditors: amounts falling due within one year
 10 
(32,215)
(60,426)

Net current assets
  
 
 
196,558
 
 
198,064

Total assets less current liabilities
  
228,371
225,739

  

Net assets
  
228,371
225,739


Capital and reserves
  

Called up share capital 
 11 
100
100

Profit and loss account
  
228,271
225,639

  
228,371
225,739


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




S Archer
Director
Date: 31 October 2023

The notes on pages 5 to 11 form part of these financial statements.

Page 4

 
Avenue Signs Limited
 

 
Notes to the financial statements
For the Year Ended 31 March 2023

1.


General information

Avenue Signs Limited is a private company limited by shares and is incorporated in England with the registration number 04321368. The address of the registered office is Montague Place, Quayside, Chatham Maritime, Kent, ME4 5QU. The principal place of business is 216 - 222 Luton Road,  Chatham, Kent, ME4 5BS.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis. While the impact of the Covid-19 virus has been assessed by the director, so far as reasonably possible, due to its unprecedented impact on the wider economy, it is difficult to evaluate with any certainty the potential outcomes on the company’s trade, its customers and suppliers. However, taking into consideration the UK Government’s response and the company’s planning, the director has a reasonable expectation that the company will continue in operational existence for the foreseeable future.

 
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

Page 5

 
Avenue Signs Limited
 

 
Notes to the financial statements
For the Year Ended 31 March 2023

2.Accounting policies (continued)

 
2.5

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of income and retained earnings over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following bases:.


Land and buildings
-
Depreciated over 4 years
Plant & machinery
-
15% reducing balance
Motor vehicles
-
25% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 6

 
Avenue Signs Limited
 

 
Notes to the financial statements
For the Year Ended 31 March 2023

2.Accounting policies (continued)

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.13

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.14

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.15

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 7

 
Avenue Signs Limited
 

 
Notes to the financial statements
For the Year Ended 31 March 2023

2.Accounting policies (continued)

 
2.16

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


3.


Employees

The average monthly number of employees, including directors, during the year was 6 (2022 - 6).


4.


Interest receivable

2023
2022
£
£


Other interest receivable
221
40


5.


Taxation


2023
2022
£
£

Corporation tax


Current tax on profits for the year
2,512
25,612


Total current tax
2,512
25,612

Factors affecting tax charge for the year

There were no factors that affected the tax charge for the year which has been calculated on the profits on ordinary activities before tax at the standard rate of corporation tax in the UK of  19% (2022 - 19%).



Factors that may affect future tax charges

There were no factors that may affect future tax charges.


6.


Dividends

2023
2022
£
£


Dividends paid
18,000
5,730

Page 8

 
Avenue Signs Limited
 

 
Notes to the financial statements
For the Year Ended 31 March 2023

7.


Intangible assets




Goodwill

£



Cost


At 1 April 2022
250,000



At 31 March 2023

250,000



Amortisation


At 1 April 2022
237,500


Charge for the year on owned assets
12,500



At 31 March 2023

250,000



Net book value



At 31 March 2023
-



At 31 March 2022
12,500



Page 9

 
Avenue Signs Limited
 

 
Notes to the financial statements
For the Year Ended 31 March 2023

8.


Tangible fixed assets





L/Term Leasehold Property
Plant & machinery
Motor vehicles
Total

£
£
£
£



Cost or valuation


At 1 April 2022
3,870
62,612
8,670
75,152


Additions
-
299
19,500
19,799


Disposals
-
-
(8,670)
(8,670)



At 31 March 2023

3,870
62,911
19,500
86,281



Depreciation


At 1 April 2022
3,869
47,517
8,591
59,977


Charge for the year on owned assets
-
2,269
813
3,082


Disposals
-
-
(8,591)
(8,591)



At 31 March 2023

3,869
49,786
813
54,468



Net book value



At 31 March 2023
1
13,125
18,687
31,813



At 31 March 2022
1
15,095
79
15,175


9.


Debtors

2023
2022
£
£


Trade debtors
42,407
47,836

Other debtors
-
6,600

Prepayments and accrued income
6,949
8,049

49,356
62,485


Page 10

 
Avenue Signs Limited
 

 
Notes to the financial statements
For the Year Ended 31 March 2023

10.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
15,024
12,875

Corporation tax
2,512
25,612

Other taxation and social security
11,618
18,485

Other creditors
61
19

Accruals and deferred income
3,000
3,435

32,215
60,426



11.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



67 (2022 - 67) Ordinary shares of £1.00 each
67
67
33 (2022 - 33) 'A' Ordinary shares of £1.00 each
33
33

100

100



12.


Commitments under operating leases

At 31 March 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
18,384
18,576

Later than 1 year and not later than 5 years
54,000
384

72,384
18,960


13.


Controlling party

S Archer is the controlling party by virtue of his 100% shareholding.


Page 11