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REGISTERED NUMBER: 00386220 (England and Wales)















Financial Statements for the Year Ended 31 December 2023

for

Glendining Signs Ltd

Glendining Signs Ltd (Registered number: 00386220)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Glendining Signs Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTORS: S Ayerst
M Ayerst
L A Crawford
D Eburne
C Lake





SECRETARY: K Janek





REGISTERED OFFICE: 268 Elgar Road South
Reading
Berkshire
RG2 0BT





REGISTERED NUMBER: 00386220 (England and Wales)





AUDITORS: Thickbroom Coventry
Chartered Accountants
and Statutory Auditors
147a High Street
Waltham Cross
Hertfordshire
EN8 7AP

Glendining Signs Ltd (Registered number: 00386220)

Statement of Financial Position
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 576,303 678,843

CURRENT ASSETS
Stocks 256,521 265,076
Debtors 5 1,048,062 1,029,056
Cash at bank 395,810 338,390
1,700,393 1,632,522
CREDITORS
Amounts falling due within one year 6 680,678 670,803
NET CURRENT ASSETS 1,019,715 961,719
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,596,018

1,640,562

CREDITORS
Amounts falling due after more than
one year

7

(42,156

)

(103,825

)

PROVISIONS FOR LIABILITIES 9 (77,539 ) (67,083 )
NET ASSETS 1,476,323 1,469,654

CAPITAL AND RESERVES
Called up share capital 10 1,000 1,000
Retained earnings 1,475,323 1,468,654
SHAREHOLDERS' FUNDS 1,476,323 1,469,654

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 10 June 2024 and were signed on its behalf by:





M Ayerst - Director


Glendining Signs Ltd (Registered number: 00386220)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Glendining Signs 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.

The financial statements are prepared in sterling, which is the functional currency of the entity.

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 consideration received or receivable for goods supplied and services rendered, excluding discounts, rebates value added tax and other sales taxes. Revenue from the sales of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 15% on cost
Plant and machinery - 15% on cost
Fixtures and fittings - 30% on cost

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Glendining Signs Ltd (Registered number: 00386220)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company's principal financial instruments comprise bank balances, trade creditors, trade debtors, loans to the company and finance lease agreements. The main purpose of these instruments is to raise funds for the company's operations and to finance the company's operations.

Due to the nature of the financial instruments used by the company there is no exposure to price risk. The company's approach to managing other risks applicable to the financial instruments concerned is shown below.

In respect of bank balances the liquidity risk is managed by maintaining a balance between the continuity of funding and flexibility through the use of overdrafts.

In respect of the loan from the parent company the interest rate and the monthly repayments are fixed. The company manages the liquidity risk by ensuring there are sufficient funds to meet the payments.

The company is a lessee in respect of finance-leased assets. The liquidity risk in respect of these is managed in the same way as the loan above.

Trade debtors are managed in respect of credit and cash flow risk by policies concerning the credit offered to customers and the regular monitoring of amounts outstanding for both time and credit limits.

Trade creditors liquidity risk is managed by ensuring sufficient funds are available to meet amounts due.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Glendining Signs Ltd (Registered number: 00386220)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 42 (2022 - 41 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings Totals
£    £    £    £   
COST
At 1 January 2023 210,924 1,077,859 189,185 1,477,968
Additions - 12,583 7,650 20,233
Disposals - (6,556 ) (1,096 ) (7,652 )
At 31 December 2023 210,924 1,083,886 195,739 1,490,549
DEPRECIATION
At 1 January 2023 102,206 563,014 133,905 799,125
Charge for year 21,369 81,241 20,163 122,773
Eliminated on disposal - (6,556 ) (1,096 ) (7,652 )
At 31 December 2023 123,575 637,699 152,972 914,246
NET BOOK VALUE
At 31 December 2023 87,349 446,187 42,767 576,303
At 31 December 2022 108,718 514,845 55,280 678,843

Included within the plant and machinery net book value of £446,187 is £335,426 (2022: £437,746) relating to assets held under hire purchase agreements.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 463,854 461,142
Amounts owed by group undertakings 509,635 509,635
Other debtors 74,573 58,279
1,048,062 1,029,056

Glendining Signs Ltd (Registered number: 00386220)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts (see note 8)
62,807

140,311
Trade creditors 113,262 67,071
Taxation and social security 335,741 319,492
Other creditors 168,868 143,929
680,678 670,803

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Hire purchase contracts (see note 8)
42,156

103,825

8. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2023 2022
£    £   
Net obligations repayable:
Within one year 62,807 140,311
Between one and five years 42,156 103,825
104,963 244,136

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 77,539 67,083

Deferred
tax
£   
Balance at 1 January 2023 67,083
Charge to Statement of Income and Retained Earnings
during year

10,456
Balance at 31 December 2023 77,539

Glendining Signs Ltd (Registered number: 00386220)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 Ordinary £1 1,000 1,000

11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Auditors' Report was unqualified.

Iain McMurray ACA (Senior Statutory Auditor)
for and on behalf of Thickbroom Coventry

12. ULTIMATE CONTROLLING PARTY

The controlling party is Jadecal Holdings Ltd.

Group accounts can be obtained by request at the registered office:
268 Elgar Road South
Reading
Berkshire
RG2 0BT