Company registration number 01450039 (England and Wales)
SIGNWAY SUPPLIES (DATCHET) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
PAGES FOR FILING WITH REGISTRAR
SIGNWAY SUPPLIES (DATCHET) LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
SIGNWAY SUPPLIES (DATCHET) LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2023
30 September 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
437,986
248,430
Current assets
Stocks
114,362
109,753
Debtors
4
2,088,018
2,041,464
Cash at bank and in hand
607,870
434,152
2,810,250
2,585,369
Creditors: amounts falling due within one year
5
(954,188)
(813,104)
Net current assets
1,856,062
1,772,265
Total assets less current liabilities
2,294,048
2,020,695
Creditors: amounts falling due after more than one year
6
(94,656)
(4,047)
Provisions for liabilities
(78,935)
(43,181)
Net assets
2,120,457
1,973,467
Capital and reserves
Called up share capital
7
98
98
Profit and loss reserves
2,120,359
1,973,369
Total equity
2,120,457
1,973,467

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

SIGNWAY SUPPLIES (DATCHET) LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2023
30 September 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 29 February 2024 and are signed on its behalf by:
Mr C L Williams
Director
Company Registration No. 01450039
SIGNWAY SUPPLIES (DATCHET) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 3 -
1
Accounting policies
Company information

Signway Supplies (Datchet) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Signway House, Stroudley Road, Basingstoke, Hampshire, United Kingdom, RG24 8UG.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
25% straight line
Plant and machinery
25% straight line
Fixtures, fittings & equipment
33% straight line
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Impairment of fixed assets

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

SIGNWAY SUPPLIES (DATCHET) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
1
Accounting policies
(Continued)
- 4 -
1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Work in progress is measured based on the costs incurred on a given project at the year end.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

SIGNWAY SUPPLIES (DATCHET) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
1
Accounting policies
(Continued)
- 5 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
52
49
SIGNWAY SUPPLIES (DATCHET) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 6 -
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 October 2022
-
0
1,026,136
1,026,136
Additions
28,965
307,650
336,615
Disposals
-
0
(176,276)
(176,276)
At 30 September 2023
28,965
1,157,510
1,186,475
Depreciation and impairment
At 1 October 2022
-
0
777,706
777,706
Depreciation charged in the year
603
111,022
111,625
Eliminated in respect of disposals
-
0
(140,842)
(140,842)
At 30 September 2023
603
747,886
748,489
Carrying amount
At 30 September 2023
28,362
409,624
437,986
At 30 September 2022
-
0
248,430
248,430
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
818,444
875,521
Other debtors
1,269,574
1,165,943
2,088,018
2,041,464
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
474,994
493,893
Taxation and social security
202,101
167,582
Other creditors
277,093
151,629
954,188
813,104

The figure for "Other creditors" includes £58,601 (2022 - £34,059) in respect of hire purchase and finance lease obligations which are secured on the assets concerned.

SIGNWAY SUPPLIES (DATCHET) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 7 -
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
94,656
4,047

The figure for "Other creditors" includes £94,656 (2022 - £4,047) in respect of hire purchase and finance lease obligations which are secured on the assets concerned.

7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
98
98
98
98
8
Related party transactions

Signway (Holdings) Limited

At the year end the company was owed £1,008,901 (2022: £1,007,351) by Signway (Holdings) Limited, the parent company. No interest is charged on the balance outstanding and there are no fixed repayment terms.

 

Brett Property Developments Ltd

At the year end the company was owed £100,000 (2022: £Nil) by Brett Property Developments Ltd, a connected company. No interest is charged on the balance outstanding. This was repaid in full after the year end on 24 October 2023.

2023-09-302022-10-01false01 March 2024CCH SoftwareCCH Accounts Production 2023.300No description of principal activityMr B J BrettMrs T J BrettMr C L WilliamsMr O C WilliamsMrs T J Brettfalse014500392022-10-012023-09-30014500392023-09-30014500392022-09-3001450039core:LandBuildings2023-09-3001450039core:OtherPropertyPlantEquipment2023-09-3001450039core:LandBuildings2022-09-3001450039core:OtherPropertyPlantEquipment2022-09-3001450039core:CurrentFinancialInstrumentscore:WithinOneYear2023-09-3001450039core:CurrentFinancialInstrumentscore:WithinOneYear2022-09-3001450039core:Non-currentFinancialInstrumentscore:AfterOneYear2023-09-3001450039core:Non-currentFinancialInstrumentscore:AfterOneYear2022-09-3001450039core:CurrentFinancialInstruments2023-09-3001450039core:CurrentFinancialInstruments2022-09-3001450039core:ShareCapital2023-09-3001450039core:ShareCapital2022-09-3001450039core:RetainedEarningsAccumulatedLosses2023-09-3001450039core:RetainedEarningsAccumulatedLosses2022-09-3001450039bus:Director22022-10-012023-09-3001450039core:LeaseholdImprovements2022-10-012023-09-3001450039core:PlantMachinery2022-10-012023-09-3001450039core:FurnitureFittings2022-10-012023-09-3001450039core:MotorVehicles2022-10-012023-09-30014500392021-10-012022-09-3001450039core:LandBuildings2022-09-3001450039core:OtherPropertyPlantEquipment2022-09-30014500392022-09-3001450039core:LandBuildings2022-10-012023-09-3001450039core:OtherPropertyPlantEquipment2022-10-012023-09-3001450039core:WithinOneYear2023-09-3001450039core:WithinOneYear2022-09-3001450039core:Non-currentFinancialInstruments2023-09-3001450039core:Non-currentFinancialInstruments2022-09-3001450039bus:PrivateLimitedCompanyLtd2022-10-012023-09-3001450039bus:SmallCompaniesRegimeForAccounts2022-10-012023-09-3001450039bus:FRS1022022-10-012023-09-3001450039bus:AuditExemptWithAccountantsReport2022-10-012023-09-3001450039bus:Director12022-10-012023-09-3001450039bus:Director32022-10-012023-09-3001450039bus:Director42022-10-012023-09-3001450039bus:CompanySecretary12022-10-012023-09-3001450039bus:FullAccounts2022-10-012023-09-30xbrli:purexbrli:sharesiso4217:GBP