Company registration number 05003055 (England and Wales)
SIGNASSIST LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
Ridehalgh Limited
Chartered Accountants
Guardian House
42 Preston New Road
Blackburn
Lancashire
BB2 6AH
SIGNASSIST LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
SIGNASSIST LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
10,574
13,252
Current assets
Stocks
650
650
Debtors
-
0
2,393
Cash at bank and in hand
2,977
14,831
3,627
17,874
Creditors: amounts falling due within one year
(6,954)
(6,762)
Net current (liabilities)/assets
(3,327)
11,112
Total assets less current liabilities
7,247
24,364
Provisions for liabilities
-
0
(397)
Net assets
7,247
23,967
SIGNASSIST LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023
31 December 2023
2023
2022
Notes
£
£
£
£
- 2 -
Capital and reserves
Called up share capital
10
10
Profit and loss reserves
7,237
23,957
Total equity
7,247
23,967

In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).

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 31 December 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.

The financial statements were approved by the board of directors and authorised for issue on 14 August 2024 and are signed on its behalf by:
Mr P Bottemley
Director
Company registration number 05003055 (England and Wales)
SIGNASSIST LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
1
Accounting policies
Company information

Signassist Limited is a private company limited by shares incorporated in England and Wales. The registered office is 81 The Rydings, Lango, Blackburn, Lancashire, BB6 8BQ.

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
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
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.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

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.

1.4
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:

Fixtures, fittings and equipment
10% per annum reducing balance
Computers
25% per annum straight line
Motor vehicles
25% per annum 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.

SIGNASSIST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 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.

1.6
Financial instruments
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are recognised at amortised cost.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans, are recognised at amortised cost

1.7
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.

1.8
Taxation

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

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.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

SIGNASSIST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 5 -
1.9
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.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2
Employees

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

2023
2022
Number
Number
Total
2
2
3
Tangible fixed assets
Total
£
Cost
At 1 January 2023
37,630
Additions
250
At 31 December 2023
37,880
Depreciation and impairment
At 1 January 2023
24,378
Depreciation charged in the year
2,928
At 31 December 2023
27,306
Carrying amount
At 31 December 2023
10,574
At 31 December 2022
13,252
2023-12-312023-01-01false14 August 2024CCH SoftwareCCH Accounts Production 2024.100No description of principal activityMr P BottemleyMiss B BottomleyMrs AE Bottomleyfalsefalse050030552023-01-012023-12-31050030552023-12-31050030552022-12-3105003055core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3105003055core:CurrentFinancialInstrumentscore:WithinOneYear2022-12-3105003055core:ShareCapital2023-12-3105003055core:ShareCapital2022-12-3105003055core:RetainedEarningsAccumulatedLosses2023-12-3105003055core:RetainedEarningsAccumulatedLosses2022-12-3105003055bus:Director12023-01-012023-12-3105003055core:FurnitureFittings2023-01-012023-12-3105003055core:ComputerEquipment2023-01-012023-12-3105003055core:MotorVehicles2023-01-012023-12-31050030552022-01-012022-12-31050030552022-12-3105003055bus:PrivateLimitedCompanyLtd2023-01-012023-12-3105003055bus:SmallCompaniesRegimeForAccounts2023-01-012023-12-3105003055bus:FRS1022023-01-012023-12-3105003055bus:AuditExemptWithAccountantsReport2023-01-012023-12-3105003055bus:Director22023-01-012023-12-3105003055bus:CompanySecretary12023-01-012023-12-3105003055bus:FullAccounts2023-01-012023-12-31xbrli:purexbrli:sharesiso4217:GBP