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REGISTERED NUMBER: SC601254 (Scotland)















Unaudited Financial Statements for the Year Ended 31 July 2023

for

Signsafe Traffic Ltd

Signsafe Traffic Ltd (Registered number: SC601254)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

Signsafe Traffic Ltd

Company Information
for the Year Ended 31 July 2023







DIRECTORS: G Miller
M Scrimgeour





REGISTERED OFFICE: 29 Brandon Street
Hamilton
Lanarkshire
ML3 6DA





REGISTERED NUMBER: SC601254 (Scotland)





ACCOUNTANTS: Sharles Ltd
Chartered Accountants
29 Brandon Street
Hamilton
ML3 6DA

Signsafe Traffic Ltd (Registered number: SC601254)

Balance Sheet
31 July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 272,767 191,001

CURRENT ASSETS
Debtors 6 593,402 784,309
Cash at bank 337,997 254,829
931,399 1,039,138
CREDITORS
Amounts falling due within one year 7 437,045 567,209
NET CURRENT ASSETS 494,354 471,929
TOTAL ASSETS LESS CURRENT
LIABILITIES

767,121

662,930

CREDITORS
Amounts falling due after more than one
year

8

(68,795

)

(65,086

)

PROVISIONS FOR LIABILITIES (66,109 ) (34,327 )
NET ASSETS 632,217 563,517

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 632,117 563,417
SHAREHOLDERS' FUNDS 632,217 563,517

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

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

Signsafe Traffic Ltd (Registered number: SC601254)

Balance Sheet - continued
31 July 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 5 April 2024 and were signed on its behalf by:





G Miller - Director


Signsafe Traffic Ltd (Registered number: SC601254)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

Signsafe Traffic Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. There were no material departures from that standard.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is derived from traffic signage and cones hired by the company.

Turnover is measured at the fair value of traffic signage and cone hiring services supplied, net of discounts and excluding value added tax, and is recognised at the point that the company obtains the right to consideration.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment for Hire - 25% on cost
Motor vehicles - 25% on cost
Plant and machinery - various rates

Tangible fixed assets held for the companies own use are stated at cost less accumulated depreciation and accumulated impairment loss.

At each balance sheet date, the company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Expenditure of £1,000 or more on individual tangible fixed assets is capitalised at cost. Expenditure on assets below this threshold is charged directly to the income statement in the period it is incurred.

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 that have been enacted or substantively enacted by the balance sheet date.


Signsafe Traffic Ltd (Registered number: SC601254)

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

3. 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Factor advances
Factor advances received against trade debtors are presented separately under current liabilities as the company bears any losses arising from the irrecoverability of these debts.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2022 - 21 ) .

5. TANGIBLE FIXED ASSETS
Equipment Plant & Motor
for hire machinery vehicles Totals
£    £    £    £   
COST
At 1 August 2022 69,966 30,219 149,439 249,624
Additions 5,891 133,845 - 139,736
Disposals (10,495 ) - - (10,495 )
At 31 July 2023 65,362 164,064 149,439 378,865
DEPRECIATION
At 1 August 2022 34,708 2,817 21,098 58,623
Charge for year 18,371 4,998 31,936 55,305
Eliminated on disposal (7,830 ) - - (7,830 )
At 31 July 2023 45,249 7,815 53,034 106,098
NET BOOK VALUE
At 31 July 2023 20,113 156,249 96,405 272,767
At 31 July 2022 35,258 27,402 128,341 191,001

Signsafe Traffic Ltd (Registered number: SC601254)

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

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 August 2022
and 31 July 2023 87,110
DEPRECIATION
At 1 August 2022 16,714
Charge for year 19,029
At 31 July 2023 35,743
NET BOOK VALUE
At 31 July 2023 51,367
At 31 July 2022 70,396

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 585,788 779,244
Other debtors 7,614 5,065
593,402 784,309

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 57,105 22,887
Trade creditors 63,083 114,266
Taxation and social security 157,653 308,763
Other creditors 149,204 111,293
437,045 567,209

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 24,169 34,170
Hire purchase contracts 44,626 30,916
68,795 65,086

Signsafe Traffic Ltd (Registered number: SC601254)

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

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 34,169 44,170
Hire purchase contracts 101,731 53,803
Amounts due to factor 113,804 66,916
249,704 164,889

The bank loan is supported by a 100% guarantee from the UK Government.

Hire purchase contracts are secured on the assets to which they relate.

Amounts due to factor are secured over the trade debtors to which they relate.

10. RELATED PARTY DISCLOSURES

The company operates a loan account with the directors, Mr G Miller & Mr Scrimegeour.

During the year, the company repaid loans totalling £12,086 to the directors. At the year end, the balance due to the directors was £13,639 (2022 - £25,715). There are no fixed repayment terms and no interest charged.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Signsafe Traffic Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Signsafe Traffic Ltd for the year ended 31 July 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity 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 ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Signsafe Traffic Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Signsafe Traffic Ltd and state those matters that we have agreed to state to the Board of Directors of Signsafe Traffic Ltd, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Signsafe Traffic Ltd 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 Signsafe Traffic Ltd. You consider that Signsafe Traffic Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Signsafe Traffic Ltd. 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.






Sharles Ltd
Chartered Accountants
29 Brandon Street
Hamilton
ML3 6DA


5 April 2024