2022-04-012023-03-312023-03-31false04339989AAA SIGNS 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AAA SIGNS LIMITED

Registered Number
04339989
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2023

AAA SIGNS LIMITED
Company Information
for the year from 1 April 2022 to 31 March 2023

Director

STEWART, Ian Nigel

Registered Address

Unit 42 Team Valley Business
Centre Earlsway Team Valley
Trading Estate Gateshead
NE11 0QH

Registered Number

04339989 (England and Wales)
AAA SIGNS LIMITED
Statement of Financial Position
31 March 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets53,1783,587
3,1783,587
Current assets
Stocks77,3156,715
Debtors821,39520,078
Cash at bank and on hand44,40831,326
73,11858,119
Creditors amounts falling due within one year9(24,593)(20,222)
Net current assets (liabilities)48,52537,897
Total assets less current liabilities51,70341,484
Provisions for liabilities10(604)(681)
Net assets51,09940,803
Capital and reserves
Called up share capital11
Profit and loss account51,09840,802
Shareholders' funds51,09940,803
The financial statements were approved and authorised for issue by the Director on 23 November 2023, and are signed on its behalf by:
STEWART, Ian Nigel
Director
Registered Company No. 04339989
AAA SIGNS LIMITED
Notes to the Financial Statements
for the year ended 31 March 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Basis of measurement used in financial statements
The financial statements have been prepared under the historical cost convention on a going concern basis 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.
3.Accounting policies
Turnover policy
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/or 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.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. 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 disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery25
Fixtures and fittings25
Stocks policy
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete the sale. The impairment loss is recognised immediately in the Income Statement.
Taxation policy
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax policy
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.
Government grants and other government assistance policy
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 Income Statement in the same period as the related expenditure.
Employee benefits policy
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 obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.
Valuation of financial instruments policy
The company 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.
4.Employee information

20232022
Average number of employees during the year33
5.Property, plant and equipment

Plant & machinery

Fixtures & fittings

Total

£££
Cost or valuation
At 01 April 2256,3001,84958,149
Additions632-632
At 31 March 2356,9321,84958,781
Depreciation and impairment
At 01 April 2252,7331,82954,562
Charge for year1,03651,041
At 31 March 2353,7691,83455,603
Net book value
At 31 March 233,163153,178
At 31 March 223,567203,587
6.Provisions for impairment of tangible assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
7.Stocks

2023

2022

££
Raw materials and consumables7,3156,715
Total7,3156,715
8.Debtors

2023

2022

££
Trade debtors / trade receivables18,74017,425
Prepayments and accrued income2,6552,653
Total21,39520,078
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.
9.Creditors within one year

2023

2022

££
Trade creditors / trade payables11,94412,020
Taxation and social security9,7755,616
Other creditors1,2531,107
Accrued liabilities and deferred income1,6211,479
Total24,59320,222
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.
10.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)604681
Total604681