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Filleted
Registration number: 12909736

Signspeed Holdings Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2023

 

Signspeed Holdings Limited

Contents

Company Information

1

Balance Sheet

2

Statement of Changes in Equity

3

Notes to the Unaudited Financial Statements

4 to 8

 

Signspeed Holdings Limited

Company Information

Directors

S Morgan

D James

Registered office

Unit 5 Carew Airfield Business Park
Carew
Sageston
Tenby
Pembrokeshire
SA70 8SX

Accountants

LHP Tenby
Chartered Certified Accountants
Barclays Bank Chambers
18 High Street
High Street
Tenby
Pembrokeshire
SA70 7HD

 

Signspeed Holdings Limited

(Registration number: 12909736)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Investments

4

85,000

85,000

Current assets

 

Debtors

5

24,000

-

Creditors: Amounts falling due within one year

6

(21,333)

(18,493)

Net current assets/(liabilities)

 

2,667

(18,493)

Total assets less current liabilities

 

87,667

66,507

Creditors: Amounts falling due after more than one year

6

(80,319)

(72,239)

Net assets/(liabilities)

 

7,348

(5,732)

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

7,248

(5,832)

Shareholders' funds/(deficit)

 

7,348

(5,732)

For the financial year ending 30 November 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 25 January 2024 and signed on its behalf by:
 

.........................................
S Morgan
Director

.........................................
D James
Director

 
     
 

Signspeed Holdings Limited

Statement of Changes in Equity for the Year Ended 30 November 2023

Share capital
£

Retained earnings
£

Total
£

At 1 December 2022

100

(5,832)

(5,732)

Profit for the year

-

15,080

15,080

Dividends

-

(2,000)

(2,000)

At 30 November 2023

100

7,248

7,348

Share capital
£

Retained earnings
£

Total
£

At 1 December 2021

100

(237)

(137)

Loss for the year

-

(5,595)

(5,595)

At 30 November 2022

100

(5,832)

(5,732)

 

Signspeed Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 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:
Unit 5 Carew Airfield Business Park
Carew
Sageston
Tenby
Pembrokeshire
SA70 8SX

These financial statements were authorised for issue by the Board on 25 January 2024.

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

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' 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.

Going concern

The financial statements have been prepared on a going concern basis.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

 

Signspeed Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

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.

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Investments

2023
£

2022
£

Investments in subsidiaries

85,000

85,000

 

Signspeed Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Subsidiaries

£

Cost or valuation

At 1 December 2022

85,000

Provision

Carrying amount

At 30 November 2023

85,000

At 30 November 2022

85,000

5

Debtors

Current

2023
£

2022
£

Other debtors

24,000

-

 

24,000

-

 

Signspeed Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

8

12,996

12,996

Other related parties

 

7,497

5,137

Other creditors

 

840

360

 

21,333

18,493

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

26,950

39,946

Other non-current financial liabilities

 

53,369

32,293

 

80,319

72,239

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary Class A of £1 each

70

70

70

70

Ordinary Class B of £1 each

30

30

30

30

 

100

100

100

100

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Other borrowings

26,950

39,946

2023
£

2022
£

Current loans and borrowings

Other borrowings

12,996

12,996

 

Signspeed Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

9

Related party transactions

Transactions with directors

2023

At 1 December 2022
£

Repayments by director
£

At 30 November 2023
£

S Morgan

(2,568)

(180)

(2,748)

-

-

-

 

(2,568)

(180)

(2,748)

     

D James

(2,568)

(180)

(2,748)

-

-

-

 

(2,568)

(180)

(2,748)

     

 

Loans from related parties

2023

Other related parties
£

Total
£

At start of period

36,293

36,293

Advanced

17,076

17,076

At end of period

53,369

53,369

Terms of loans from related parties

During the year the company loaned £17,076 from Signspeed Ltd, a related party. This loan is interest free and repayable on demand.