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REGISTERED NUMBER: 02681296 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

Insignia Signs & Engraving Ltd.

Insignia Signs & Engraving Ltd. (Registered number: 02681296)

Contents of the Financial Statements
for the Year Ended 30 June 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Insignia Signs & Engraving Ltd.

Company Information
for the Year Ended 30 June 2024







DIRECTORS: C P Harrison
Mrs S E Harrison





REGISTERED OFFICE: Unit 4, Upton Street
Dansom Lane North
Hull
East Yorkshire
HU8 7DA





REGISTERED NUMBER: 02681296 (England and Wales)





ACCOUNTANTS: Harris Lacey and Swain
Suite 1
The Riverside Building
Hessle
East Yorkshire
HU13 0DZ

Insignia Signs & Engraving Ltd. (Registered number: 02681296)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 21,081 25,759
21,081 25,759

CURRENT ASSETS
Stocks 17,520 13,530
Debtors 6 43,906 51,130
Cash at bank 77,755 75,235
139,181 139,895
CREDITORS
Amounts falling due within one year 7 147,345 144,574
NET CURRENT LIABILITIES (8,164 ) (4,679 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

12,917

21,080

CREDITORS
Amounts falling due after more than one
year

8

(7,333

)

(15,333

)

PROVISIONS FOR LIABILITIES (4,552 ) (5,619 )
NET ASSETS 1,032 128

CAPITAL AND RESERVES
Called up share capital 102 102
Retained earnings 930 26
SHAREHOLDERS' FUNDS 1,032 128

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Insignia Signs & Engraving Ltd. (Registered number: 02681296)

Balance Sheet - continued
30 June 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 August 2024 and were signed on its behalf by:




C P Harrison - Director



Mrs S E Harrison - Director


Insignia Signs & Engraving Ltd. (Registered number: 02681296)

Notes to the Financial Statements
for the Year Ended 30 June 2024


1. STATUTORY INFORMATION

Insignia Signs & Engraving Ltd. is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Revenue
Revenue is measured at the fair value of the consideration received or receivable and represents the amount receivable for goods supplied or services rendered, net of returns, discounts and rebates allowed by the company and value added taxes.

The company recognises revenue when the significant risks and rewards of ownership have been transferred to the buyer; the company retains no continuing involvement or control over the goods; the amount of revenue can be measured reliably; it is probable that future economic benefits will flow to the entity and when the specific criteria relating to each of the company's sales channels have been met, as described below.

Signs and engraving
The company produces and sells health and safety signage, industrial labelling, control panel fascias, vehicle graphics, office branding, retail signage, memorial and ceremonial items, for interior and exterior use. The company works for individuals and businesses located across the region and around the UK. Revenue is recognised by the company as outlined above. Payment of invoices are due within 30 days of the invoice date.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on cost
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments, including trade and other debtors and creditors are initially recognised at transaction value and subsequently measure at their settlement value.


Insignia Signs & Engraving Ltd. (Registered number: 02681296)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Estimates and judgements
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Although these estimates are based on the Directors' best knowledge of the amount, events or actions, actual results ultimately differ from these estimates. The Directors do not consider there to be any material estimates and judgements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 191,400
AMORTISATION
At 1 July 2023
and 30 June 2024 191,400
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 -

Insignia Signs & Engraving Ltd. (Registered number: 02681296)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 July 2023 19,175 116,678 13,615 3,277 152,745
Additions 4,750 3,076 - - 7,826
Disposals - (33,166 ) - (1,218 ) (34,384 )
At 30 June 2024 23,925 86,588 13,615 2,059 126,187
DEPRECIATION
At 1 July 2023 11,838 103,939 8,789 2,420 126,986
Charge for year 2,658 6,543 3,017 287 12,505
Eliminated on disposal - (33,166 ) - (1,219 ) (34,385 )
At 30 June 2024 14,496 77,316 11,806 1,488 105,106
NET BOOK VALUE
At 30 June 2024 9,429 9,272 1,809 571 21,081
At 30 June 2023 7,337 12,739 4,826 857 25,759

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 42,996 50,342
Other debtors 910 788
43,906 51,130

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 8,000 8,000
Trade creditors 6,354 6,062
Taxation and social security 31,083 27,511
Other creditors 101,908 103,001
147,345 144,574

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 7,333 15,333

9. RELATED PARTY DISCLOSURES

The company is jointly controlled by Mr C.P. Harrison and Mrs S.E.Harrison, who hold 100% of the shares.