Registered number
06751774
2020 Signs Limited
Filleted Accounts
30 September 2023
2020 Signs Limited
Company Information
Directors
T R Bevan
Mrs C Bevan
Accountants
Anderson Griffin
Rotunda Buildings
Montpellier Exchange
Cheltenham
Glos
Registered office
15 Bamel Way
Gloucester Business Park
Gloucester
Registered number
06751774
2020 Signs Limited
Registered number: 06751774
Balance Sheet
as at 30 September 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 - 2,700
Tangible assets 4 - 23,380
- 26,080
Current assets
Stocks - 2,000
Debtors 5 25,840 4,151
Cash at bank and in hand 124,866 148,478
150,706 154,629
Creditors: amounts falling due within one year 6 (5,062) (32,196)
Net current assets 145,644 122,433
Total assets less current liabilities 145,644 148,513
Creditors: amounts falling due after more than one year 7 (53,775) (12,323)
Net assets 91,869 136,190
Capital and reserves
Called up share capital 100 100
Profit and loss account 91,769 136,090
Shareholders' funds 91,869 136,190
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.
T R Bevan
Director
Approved by the board on 30 November 2023
2020 Signs Limited
Notes to the Accounts
for the period from 1 April 2022 to 30 September 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Office equipment 25% straight line
Furniture and fixtures 25% straight line
Machinery and equipment 25% straight line
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.
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 2 4
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2022 99,141
Disposals (99,141)
At 30 September 2023 -
Amortisation
At 1 April 2022 96,441
Provided during the period 2,700
On disposals (99,141)
At 30 September 2023 -
Net book value
At 30 September 2023 -
At 31 March 2022 2,700
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Office equipment Furniture & fixtures Motor and machinery Total
£ £ £ £
Cost
At 1 April 2022 16,504 14,308 62,323 93,135
Disposals (16,504) (14,308) (62,323) (93,135)
At 30 September 2023 - - - -
Depreciation
At 1 April 2022 15,229 13,918 40,608 69,755
Charge for the period 1,275 390 21,715 23,380
On disposals (16,504) (14,308) (62,323) (93,135)
At 30 September 2023 - - - -
Net book value
At 30 September 2023 - - - -
At 31 March 2022 1,275 390 21,715 23,380
5 Debtors 2023 2022
£ £
Trade debtors 22,500 4,151
Other debtors 3,340 -
25,840 4,151
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors - 11,625
Taxation and social security costs 5,062 18,707
Other creditors - 1,864
5,062 32,196
7 Creditors: amounts falling due after one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts - 12,323
Directors loan 53,775 -
53,775 12,323
8 Controlling party
The ultimate controlling party are the directors.
9 Other information
2020 Signs Limited is a private company limited by shares and incorporated in England. Its registered office is:
15 Bamel Way
Gloucester Business Park
Gloucester
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