COMPANY REGISTRATION NUMBER:
10493205
Sign Systems (Holdings) Ltd |
|
Filleted Unaudited Financial Statements |
|
Sign Systems (Holdings) Ltd |
|
Statement of Financial Position |
|
31 December 2023
Fixed assets
Investments |
4 |
|
696,090 |
696,090 |
|
|
|
|
|
Creditors: amounts falling due within one year |
5 |
425,493 |
|
696,088 |
|
--------- |
|
--------- |
Net current liabilities |
|
425,493 |
696,088 |
|
|
--------- |
--------- |
Total assets less current liabilities |
|
270,597 |
2 |
|
|
--------- |
---- |
Net assets |
|
270,597 |
2 |
|
|
--------- |
---- |
|
|
|
|
|
Capital and reserves
Called up share capital |
|
2 |
2 |
Profit and loss account |
|
270,595 |
– |
|
|
--------- |
---- |
Shareholders funds |
|
270,597 |
2 |
|
|
--------- |
---- |
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 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 financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
13 March 2024
, and are signed on behalf of the board by:
Company registration number:
10493205
Sign Systems (Holdings) Ltd |
|
Notes to the Financial Statements |
|
Year ended 31 December 2023
1.
General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Shipley Court, Manners Avenue Industrial Estate, Ilkeston, Derbyshire, DE7 8EF.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Investments in subsidiary undertakings
Investments in subsidiary undertakings accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in subsidiary undertakings accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4.
Investments
|
Shares in group undertakings |
|
£ |
Cost |
|
At 1 January 2023 and 31 December 2023 |
696,090 |
|
--------- |
Impairment |
|
At 1 January 2023 and 31 December 2023 |
– |
|
--------- |
|
|
Carrying amount |
|
At 31 December 2023 |
696,090 |
|
--------- |
At 31 December 2022 |
696,090 |
|
--------- |
|
|
5.
Creditors:
amounts falling due within one year
|
2023 |
2022 |
|
£ |
£ |
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
425,043 |
635,640 |
Other creditors |
450 |
60,448 |
|
--------- |
--------- |
|
425,493 |
696,088 |
|
--------- |
--------- |
|
|
|
6.
Directors' advances, credits and guarantees
As at 31st December 2023 there was £nil (2022-£59,998) owed to the directors of the company. The loans are interest free and are repayable on demand.