Registered number
06019835
Hitech Signs & Engraving Ltd
Report and Accounts
30 April 2024
Hitech Signs & Engraving Ltd
Registered number: 06019835
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 1,738 2,796
Current assets
Stocks 4,268 5,183
Debtors 5 30,627 25,342
Cash at bank and in hand 27,299 25,558
62,194 56,083
Creditors: amounts falling due within one year 6 (32,014) (33,713)
Net current assets 30,180 22,370
Total assets less current liabilities 31,918 25,166
Creditors: amounts falling due after more than one year 7 (9,542) (11,521)
Net assets 22,376 13,645
Capital and reserves
Called up share capital 100 100
Profit and loss account 22,276 13,545
Shareholders' funds 22,376 13,645
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
C Scott
Director
Approved by the board on 28 June 2024
Hitech Signs & Engraving Ltd
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 4 years
Fixtures, fittings, tools and equipment over 4 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5 5
3 Intangible fixed assets £
Goodwill:
Cost
At 1 May 2023 40,000
At 30 April 2024 40,000
Amortisation
At 1 May 2023 40,000
At 30 April 2024 40,000
Net book value
At 30 April 2024 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 May 2023 75,070 64,041 139,111
Additions 562 - 562
At 30 April 2024 75,632 64,041 139,673
Depreciation
At 1 May 2023 72,909 63,407 136,316
Charge for the year 1,302 317 1,619
At 30 April 2024 74,211 63,724 137,935
Net book value
At 30 April 2024 1,421 317 1,738
At 30 April 2023 2,161 634 2,795
5 Debtors 2024 2023
£ £
Trade debtors 30,627 25,342
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 2,280 2,280
Obligations under finance lease and hire purchase contracts 114 3,029
Trade creditors 4,238 3,667
Corporation tax 8,745 7,187
Other taxes and social security costs 5,018 7,110
Other creditors 11,619 10,439
32,014 33,713
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 9,542 11,521
8 Other Information
Hitech Signs & Engraving Ltd is a private company limited by shares and incorporated in
England , it's registered office is:
2 Queens Court
Walbottle
Newcastle upon Tyne,
NE15 8JF
Hitech Signs & Engraving Ltd 06019835 false 2023-05-01 2024-04-30 2024-04-30 VT Final Accounts April 2024 C Scott No description of principal activity 06019835 2022-05-01 2023-04-30 06019835 core:WithinOneYear 2023-04-30 06019835 core:AfterOneYear 2023-04-30 06019835 core:ShareCapital 2023-04-30 06019835 core:RetainedEarningsAccumulatedLosses 2023-04-30 06019835 2023-05-01 2024-04-30 06019835 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 06019835 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 06019835 bus:Director40 2023-05-01 2024-04-30 06019835 core:PlantMachinery 2023-05-01 2024-04-30 06019835 core:Vehicles 2023-05-01 2024-04-30 06019835 bus:FRS102 2023-05-01 2024-04-30 06019835 bus:FilletedAccounts 2023-05-01 2024-04-30 06019835 2024-04-30 06019835 core:WithinOneYear 2024-04-30 06019835 core:AfterOneYear 2024-04-30 06019835 core:ShareCapital 2024-04-30 06019835 core:RetainedEarningsAccumulatedLosses 2024-04-30 06019835 core:Goodwill 2024-04-30 06019835 core:PlantMachinery 2024-04-30 06019835 core:Vehicles 2024-04-30 06019835 2023-04-30 06019835 core:Goodwill 2023-04-30 06019835 core:PlantMachinery 2023-04-30 06019835 core:Vehicles 2023-04-30 iso4217:GBP xbrli:pure