Registered number
04649184
Chapple Signs Limited
Filleted Accounts
31 March 2023
Chapple Signs Limited
Registered number: 04649184
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 48,760 57,283
Current assets
Stocks 7,000 7,000
Debtors 4 93,647 132,209
Cash at bank and in hand 751,342 568,541
851,989 707,750
Creditors: amounts falling due within one year 5 (294,271) (124,875)
Net current assets 557,718 582,875
Total assets less current liabilities 606,478 640,158
Provisions for liabilities (8,653) (10,228)
Net assets 597,825 629,930
Capital and reserves
Called up share capital 110 100
Share premium 17,990 -
Profit and loss account 579,725 629,830
Shareholders' funds 597,825 629,930
The directors are 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 directors acknowledge their 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.
Mr M Chapple
Director
Approved by the board on 16 November 2023
Chapple Signs Limited
Notes to the Accounts
for the year ended 31 March 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:
Freehold buildings over 20 years
Plant and machinery 15% reducing balance
Motor vehicles 25% reducing 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 6 7
3 Tangible fixed assets
Land and buildings Plant and machinery Motor vehicles Total
£ £ £ £
Cost
At 1 April 2022 4,726 185,284 122,443 312,453
Additions - 529 - 529
At 31 March 2023 4,726 185,813 122,443 312,982
Depreciation
At 1 April 2022 1,267 138,104 115,799 255,170
Charge for the year 235 7,155 4,552 11,942
On disposals - - (2,890) (2,890)
At 31 March 2023 1,502 145,259 117,461 264,222
Net book value
At 31 March 2023 3,224 40,554 4,982 48,760
At 31 March 2022 3,459 47,180 6,644 57,283
4 Debtors 2023 2022
£ £
Trade debtors 81,782 130,883
Other debtors 11,865 1,326
93,647 132,209
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 18,308 26,930
Taxation and social security costs 52,261 94,471
Other creditors 223,702 3,474
294,271 124,875
6 Other information
Chapple Signs Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 9
Charles Industrial Estate
Stowmarket
Suffolk
IP14 5AH
Chapple Signs Limited 04649184 false 2022-04-01 2023-03-31 2023-03-31 VT Final Accounts October 2023 release 2 Mr M Chapple No description of principal activity 04649184 2021-04-01 2022-03-31 04649184 core:WithinOneYear 2022-03-31 04649184 core:ShareCapital 2022-03-31 04649184 core:SharePremium 2022-03-31 04649184 core:RetainedEarningsAccumulatedLosses 2022-03-31 04649184 2022-04-01 2023-03-31 04649184 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 04649184 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 04649184 bus:Director40 2022-04-01 2023-03-31 04649184 1 2022-04-01 2023-03-31 04649184 2 2022-04-01 2023-03-31 04649184 core:LandBuildings 2022-04-01 2023-03-31 04649184 core:PlantMachinery 2022-04-01 2023-03-31 04649184 core:Vehicles 2022-04-01 2023-03-31 04649184 countries:England 2022-04-01 2023-03-31 04649184 bus:FRS102 2022-04-01 2023-03-31 04649184 bus:FullAccounts 2022-04-01 2023-03-31 04649184 2023-03-31 04649184 core:WithinOneYear 2023-03-31 04649184 core:ShareCapital 2023-03-31 04649184 core:SharePremium 2023-03-31 04649184 core:RetainedEarningsAccumulatedLosses 2023-03-31 04649184 core:LandBuildings 2023-03-31 04649184 core:PlantMachinery 2023-03-31 04649184 core:Vehicles 2023-03-31 04649184 2022-03-31 04649184 core:LandBuildings 2022-03-31 04649184 core:PlantMachinery 2022-03-31 04649184 core:Vehicles 2022-03-31 iso4217:GBP xbrli:pure