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REGISTERED NUMBER: 03115547 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023

FOR

ASTRA SIGNS LIMITED

ASTRA SIGNS LIMITED (REGISTERED NUMBER: 03115547)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31st December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ASTRA SIGNS LIMITED

COMPANY INFORMATION
for the Year Ended 31st December 2023







DIRECTOR: Mr J A Kerr





REGISTERED OFFICE: Unit 1
First Avenue
Europa Village Trafford Park
Manchester
M17 1JZ





REGISTERED NUMBER: 03115547 (England and Wales)





ACCOUNTANTS: KJG
100 Barbirolli Square
Manchester
M2 3BD

ASTRA SIGNS LIMITED (REGISTERED NUMBER: 03115547)

BALANCE SHEET
31st December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 397,406 356,429
Tangible assets 5 472,701 565,148
870,107 921,577

CURRENT ASSETS
Stocks 637,515 275,770
Debtors 6 1,092,110 1,170,877
Cash at bank and in hand 439,335 269,612
2,168,960 1,716,259
CREDITORS
Amounts falling due within one year 7 (1,244,887 ) (771,832 )
NET CURRENT ASSETS 924,073 944,427
TOTAL ASSETS LESS CURRENT LIABILITIES 1,794,180 1,866,004

PROVISIONS FOR LIABILITIES (116,155 ) (209,799 )
NET ASSETS 1,678,025 1,656,205

CAPITAL AND RESERVES
Called up share capital 10 72 72
Capital redemption reserve 48 48
Retained earnings 1,677,905 1,656,085
SHAREHOLDERS' FUNDS 1,678,025 1,656,205

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

ASTRA SIGNS LIMITED (REGISTERED NUMBER: 03115547)

BALANCE SHEET - continued
31st December 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 19th April 2024 and were signed by:





Mr J A Kerr - Director


ASTRA SIGNS LIMITED (REGISTERED NUMBER: 03115547)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31st December 2023


1. STATUTORY INFORMATION

Astra Signs Limited is a private company, limited by shares, registered in England and Wales, registration number 03115547. The address of the registered office and principal place of business is Unit 1 First Avenue, Trafford Park Europa Village, Manchester, England, M17 1JZ.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover principally consists of income from the design, manufacture and sale of signage.

Intangible assets
Intangible assets are represented by expenditure which is capitalised where there is a clearly defined project, related expenditure is separately identifiable and it has been assessed for technical and commercial viability.

Amortisation is calculated to write off the cost of the intangible assets over their useful life as follows:

Development costs -15% reducing balance to 20% straight line
Intellectual property-10% straight line

The carrying amounts of the company's assets are reviewed for impairment when events or changes in circumstances indicate that the carrying amount of the fixed asset may not be recoverable. If any such indication exists, the asset's recoverable amount is estimated and an impairment provision made if appropriate.

ASTRA SIGNS LIMITED (REGISTERED NUMBER: 03115547)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st December 2023


2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation on fixed assets is charged to the profit and loss so as to write off their value, over their estimated useful lives, using the following methods:

Plant and machinery-15% reducing balance
Fixtures and fittings-15% reducing balance
Computer equipment-15% straight line
Motor vehicles-25% reducing balance
Improvements to property-10% straight line

At each balance sheet date, the Company reviews the carrying amounts of its fixed assets to determine whether there is any indication that any items of property, plant and equipment 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, if any. 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.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, 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 have been enacted or substantively enacted by the balance sheet date.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

ASTRA SIGNS LIMITED (REGISTERED NUMBER: 03115547)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st December 2023


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets that are held by the Company under leases which transfer to the Company substantially all the risks and rewards of ownership are classified as being held under finance leases. Leases which do not transfer substantially all the risks and rewards of ownership to the company are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the Company at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the statements of financial position as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability, finance expenses are recognised immediately in profit or loss, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the Company's policy on borrowing costs . Contingent rentals are recognised as expenses in the periods in which they are incurred.

Operating lease payments are recognised as an expense on straight-line basis over the lease term, except where another systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed. Contingent rentals arising under operating leases are recognised as an expense in the period in which they are incurred.

In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis, except where another systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated less impairment losses for bad and doubtful debts.

Trade and other creditors
Trade and other creditors are initially recognised fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 56 (2022 - 50 ) .

ASTRA SIGNS LIMITED (REGISTERED NUMBER: 03115547)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st December 2023


4. INTANGIBLE FIXED ASSETS
Intellectual Development
property costs Totals
£    £    £   
COST
At 1st January 2023 300,000 83,039 383,039
Additions - 94,963 94,963
At 31st December 2023 300,000 178,002 478,002
AMORTISATION
At 1st January 2023 - 26,610 26,610
Amortisation for year 30,000 23,986 53,986
At 31st December 2023 30,000 50,596 80,596
NET BOOK VALUE
At 31st December 2023 270,000 127,406 397,406
At 31st December 2022 300,000 56,429 356,429

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1st January 2023 178,710 1,418,619 68,827
Additions - 1,216 40,311
At 31st December 2023 178,710 1,419,835 109,138
DEPRECIATION
At 1st January 2023 89,355 1,009,840 32,724
Charge for year 17,871 61,316 45,310
At 31st December 2023 107,226 1,071,156 78,034
NET BOOK VALUE
At 31st December 2023 71,484 348,679 31,104
At 31st December 2022 89,355 408,779 36,103

ASTRA SIGNS LIMITED (REGISTERED NUMBER: 03115547)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st December 2023


5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1st January 2023 26,050 109,112 1,801,318
Additions - - 41,527
At 31st December 2023 26,050 109,112 1,842,845
DEPRECIATION
At 1st January 2023 16,663 87,588 1,236,170
Charge for year 2,347 7,130 133,974
At 31st December 2023 19,010 94,718 1,370,144
NET BOOK VALUE
At 31st December 2023 7,040 14,394 472,701
At 31st December 2022 9,387 21,524 565,148

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 842,278 1,028,515
Amounts owed by group undertakings 135,801 35,801
Other debtors 114,031 106,561
1,092,110 1,170,877

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 845,922 508,852
Taxation and social security 208,995 194,081
Other creditors 189,970 68,899
1,244,887 771,832

ASTRA SIGNS LIMITED (REGISTERED NUMBER: 03115547)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st December 2023


8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 108,500 108,500
Between one and five years 418,717 434,000
In more than five years 5,985 99,202
533,202 641,702

9. SECURED DEBTS

A fixed and floating charge was taken on 11th March 2022 in respect of Growth Lending 2021 Limited. The charge contains a fixed and floating charge over all the property or undertaking of the company and contains a negative pledge.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
60 Ordinary A £1.00 60 60
12 Ordinary B £1.00 12 12
72 72

11. ULTIMATE CONTROLLING PARTY

The ultimate parent company is Adxba Group Limited a private company, limited by shares, registered in England and Wales, registration number 13739808. The address of the registered office and principal place of business is Unit 2 Clarendon Industrial Estate, Clarendon Industrial Estate, Hyde, Cheshire, SK14 2EW.

The ultimate controlling party are the shareholders of the ultimate parent company by virtue of their controlling interest in the ultimate parent, Adxba Group Limited.

12. TRADING EBITDA RECONCILIATION


2023 2022
£ £

EBITDA 410,519 152,846
Depreciation (148,408 ) (122,212 )
Interest paid (1,449 ) (25,260 )
Interest received 550 773
Management charges (348,000 ) -
Taxation 108,608 (55,064 )
Profit/(Loss) for the financial year 21,820 (48,917 )