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REGISTERED NUMBER: 05305298 (England and Wales)















Financial Statements for the Year Ended 31st December 2023

for

John Espin Signs Limited

John Espin Signs Limited (Registered number: 05305298)






Contents of the Financial Statements
for the Year Ended 31st December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


John Espin Signs Limited

Company Information
for the Year Ended 31st December 2023







DIRECTORS: Mrs J Espin
D Bilton





SECRETARY: Mrs J Espin





REGISTERED OFFICE: 6 Cleveland Close
Scunthorpe
North Lincolnshire
DN17 1TH





REGISTERED NUMBER: 05305298 (England and Wales)





ACCOUNTANTS: Peter R Burton Accountants
43 Oswald Road
Scunthorpe
North Lincolnshire
DN15 7PN

John Espin Signs Limited (Registered number: 05305298)

Balance Sheet
31st December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 60,000 60,000
Tangible assets 5 8,167 1,868
68,167 61,868

CURRENT ASSETS
Stocks 548 521
Debtors 6 10,660 18,081
Cash at bank 19,460 12,541
30,668 31,143
CREDITORS
Amounts falling due within one year 7 99,686 103,853
NET CURRENT LIABILITIES (69,018 ) (72,710 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(851

)

(10,842

)

CREDITORS
Amounts falling due after more than
one year

8

4,800

-
NET LIABILITIES (5,651 ) (10,842 )

CAPITAL AND RESERVES
Called up share capital 9 99 99
Retained earnings 10 (5,750 ) (10,941 )
SHAREHOLDERS' FUNDS (5,651 ) (10,842 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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.

John Espin Signs Limited (Registered number: 05305298)

Balance Sheet - continued
31st December 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 26th March 2024 and were signed on its behalf by:





Mrs J Espin - Director


John Espin Signs Limited (Registered number: 05305298)

Notes to the Financial Statements
for the Year Ended 31st December 2023

1. STATUTORY INFORMATION

John Espin Signs Limited 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.

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 0, is being amortised evenly over its estimated useful life of nil 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office Equipment - 25% on reducing balance
Tools & Equipment - 15% on reducing balance
Motor vehicles - 25% on reducing balance

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 balance sheet date.


John Espin Signs Limited (Registered number: 05305298)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st January 2023
and 31st December 2023 60,000
NET BOOK VALUE
At 31st December 2023 60,000
At 31st December 2022 60,000

John Espin Signs Limited (Registered number: 05305298)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023

5. TANGIBLE FIXED ASSETS
Office Tools & Motor
Equipment Equipment vehicles Totals
£    £    £    £   
COST
At 1st January 2023 6,873 14,066 5,553 26,492
Additions - - 8,500 8,500
At 31st December 2023 6,873 14,066 14,053 34,992
DEPRECIATION
At 1st January 2023 5,407 13,691 5,526 24,624
Charge for year 367 56 1,778 2,201
At 31st December 2023 5,774 13,747 7,304 26,825
NET BOOK VALUE
At 31st December 2023 1,099 319 6,749 8,167
At 31st December 2022 1,466 375 27 1,868

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 10,660 18,081

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 14,084 7,057
Taxation and social security 14,239 24,308
Other creditors 71,363 72,488
99,686 103,853

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts 4,800 -

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
99 Ordinary £1 99 99

John Espin Signs Limited (Registered number: 05305298)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023

10. RESERVES
Retained
earnings
£   

At 1st January 2023 (10,941 )
Profit for the year 37,041
Dividends (31,850 )
At 31st December 2023 (5,750 )