Signum Construction Limited 11362126 false 2022-03-01 2023-02-28 2023-02-28 The principal activity of the company is construction of domestic buildings. Digita Accounts Production Advanced 6.30.9574.0 true 11362126 2022-03-01 2023-02-28 11362126 2023-02-28 11362126 bus:OrdinaryShareClass1 2023-02-28 11362126 core:CurrentFinancialInstruments 2023-02-28 11362126 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 11362126 core:FurnitureFittingsToolsEquipment 2023-02-28 11362126 core:MotorVehicles 2023-02-28 11362126 bus:SmallEntities 2022-03-01 2023-02-28 11362126 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 11362126 bus:FullAccounts 2022-03-01 2023-02-28 11362126 bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 11362126 bus:RegisteredOffice 2022-03-01 2023-02-28 11362126 bus:Director1 2022-03-01 2023-02-28 11362126 bus:Director2 2022-03-01 2023-02-28 11362126 bus:OrdinaryShareClass1 2022-03-01 2023-02-28 11362126 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 11362126 core:ComputerEquipment 2022-03-01 2023-02-28 11362126 core:FurnitureFittings 2022-03-01 2023-02-28 11362126 core:FurnitureFittingsToolsEquipment 2022-03-01 2023-02-28 11362126 core:MotorVehicles 2022-03-01 2023-02-28 11362126 core:PlantMachinery 2022-03-01 2023-02-28 11362126 countries:EnglandWales 2022-03-01 2023-02-28 11362126 2022-02-28 11362126 core:FurnitureFittingsToolsEquipment 2022-02-28 11362126 core:MotorVehicles 2022-02-28 11362126 2021-03-01 2022-02-28 11362126 2022-02-28 11362126 bus:OrdinaryShareClass1 2022-02-28 11362126 core:CurrentFinancialInstruments 2022-02-28 11362126 core:CurrentFinancialInstruments core:WithinOneYear 2022-02-28 11362126 core:FurnitureFittingsToolsEquipment 2022-02-28 11362126 core:MotorVehicles 2022-02-28 11362126 bus:OrdinaryShareClass1 2021-03-01 2022-02-28 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 11362126

Signum Construction Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 28 February 2023

 

Signum Construction Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Signum Construction Limited

Company Information

Directors

Mr Luke Ryan Smith

Mr Martin Smith

Registered office

85 St Annes Road
Leeds
LS6 3NZ

Accountants

Courtley West Limited
Chartered Certified Accountants
1 Clarke Hall Farm
Aberford Road
Wakefield
WF1 4AL

 

Signum Construction Limited

(Registration number: 11362126)
Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

26,247

24,589

Current assets

 

Debtors

5

42,488

61,344

Cash at bank and in hand

 

124,955

138,513

 

167,443

199,857

Creditors: Amounts falling due within one year

6

(66,009)

(121,640)

Net current assets

 

101,434

78,217

Net assets

 

127,681

102,806

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

127,581

102,706

Shareholders' funds

 

127,681

102,806

For the financial year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 22 November 2023 and signed on its behalf by:
 

 

Signum Construction Limited

(Registration number: 11362126)
Balance Sheet as at 28 February 2023

.........................................
Mr Luke Ryan Smith
Director

.........................................
Mr Martin Smith
Director

 

Signum Construction Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
85 St Annes Road
Leeds
LS6 3NZ

These financial statements were authorised for issue by the Board on 22 November 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

 

Signum Construction Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance method

Fixtures and Fittings

25% reducing balance method

Office equipment

33% straight line basis

Motor vehicles

25% reducing balance method

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

 

Signum Construction Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2022 - 4).

 

Signum Construction Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 March 2022

12,520

34,392

46,912

Additions

5,831

4,996

10,827

At 28 February 2023

18,351

39,388

57,739

Depreciation

At 1 March 2022

5,589

16,734

22,323

Charge for the year

3,506

5,663

9,169

At 28 February 2023

9,095

22,397

31,492

Carrying amount

At 28 February 2023

9,256

16,991

26,247

At 28 February 2022

6,931

17,658

24,589

5

Debtors

Current

2023
£

2022
£

Trade debtors

23,595

59,771

Prepayments

1,712

1,573

Other debtors

17,181

-

 

42,488

61,344

6

Creditors

Creditors: amounts falling due within one year

 

Signum Construction Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

2023
£

2022
£

Due within one year

Trade creditors

2,602

2,448

Taxation and social security

56,472

72,965

Accruals and deferred income

890

38,983

Other creditors

6,045

7,244

66,009

121,640

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

8

Dividends

Interim dividends paid

   

2023
£

 

2022
£

Interim dividend of £1,320.00 (2022 - £1,260.00) per each Ordinary shares

 

132,000

 

126,000

         

9

Related party transactions

 

Signum Construction Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

23,304

17,656