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REGISTERED NUMBER: 01325080 (England and Wales)















Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 31 March 2024

for

Ashleighsigns Limited

Ashleighsigns Limited (Registered number: 01325080)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Statement of Comprehensive Income 10

Balance Sheet 11

Statement of Changes in Equity 12

Notes to the Financial Statements 13


Ashleighsigns Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr A S Bedford
Mr T A Sadler
Mrs A E Sadler





SECRETARY: Mrs A E Sadler





REGISTERED OFFICE: Ashleigh House Beckbridge Road
Normanton Industrial Estate
Normanton
West Yorkshire
WF6 1TE





REGISTERED NUMBER: 01325080 (England and Wales)





AUDITORS: CLA Evelyn Partners Limited
Chartered Accountants &
Statutory Auditors
3rd Floor
56 Wellington Street
Leeds
West Yorkshire
LS1 2EE

Ashleighsigns Limited (Registered number: 01325080)

Strategic Report
for the Year Ended 31 March 2024

The directors present their strategic report for the year ended 31 March 2024.

PRINCIPAL ACTIVITY
The principal activity of the company is the Design, Manufacture and Installation of Signage across a wide range of business sectors throughout the UK and Europe.

BUSINESS REVIEW AND FUTURE OUTLOOK
Following the past few years of sustainable growth, the directors are delighted to announce that trend has continued to March 2024, with turnover exceeding £22m (2024: £22.1m 2023: £20.8m). Through careful management and leadership, we are pleased to report satisfactory profit before tax for the financial year of £1.586m (2023: £1.565m) which is a very strong indication of Ashleigh Signs' position in the marketplace as one of the UK leading sign manufacturers.

The continued operation across several diverse business sectors has provided stability and security, and expansion into the German and Irish markets has enabled us to achieve further growth and increased performance. Ongoing retention of key well-known blue-chip clients, who have been with us for many years, with the addition of many new clients, are a testament to the resilience, dedication, and expertise of our workforce.

Investment into the business and employees has also continued. The company's bespoke manufacturing system has been further developed to ensure the highest levels of quality, efficiency and customer service are maintained. Further investment in the state-of-the-art premises and manufacturing facility, has ensured the company has remained competitive within the marketplace.

PRINCIPAL RISKS AND UNCERTAINTIES
ECONOMIC RISK
Economic uncertainty surrounding the worldwide supply of raw materials eased during the year, which enabled our clients to increase their levels of activity during the period. Being one of the UK's largest Signage Manufacturers', Ashleigh Signs were very well positioned to assist our clients with their increasing investment programmes.

Despite the increases in material, energy & labour prices, we are delighted to present an improvement in GP to 45.25% (2023: 41.8%), which is a testament to our robust internal controls and buying policies.
With further signs of recovery and optimism in the economy, we are confident these upward trends will continue to be recognised.

CREDIT RISK
Many of the company's customers are long standing and this, along with robust credit checking policies and procedures in respect of all new customers, has helped to mitigate the level of credit risk.

LIQUIDITY RISK
The company monitors a number of internal and external KPI's with a key focus on cash generation from operating activities which has increased during the year.

FUTURE DEVELOPMENTS
The start of this financial year has been very encouraging with Ashleigh posting record sales for Q1. The order book for the next year remains robust and healthy. As the hospitality and retail sectors continue to invest, Ashleigh Signs will be very well placed to assist them on their journey. Management remains positive that with their diverse portfolio of clients, coupled with an exceptional workforce, the company will continue to grow into the future with the vision of being the UK's leading choice for Signage.


Ashleighsigns Limited (Registered number: 01325080)

Strategic Report
for the Year Ended 31 March 2024

SUMMARY
Despite the challenges we faced, 2023/24 was a successful and profitable year, which further demonstrates our strength within the market. The company continues to improve in efficiency and competitiveness by investing in fixed assets, facilities, and the development of staff with a view to increased growth, which has been demonstrated in the financial statements over the past number of years. Costs are constantly reviewed and managed to improve margins and profitability, with emphasis being placed on employee retention, which is very strong, as well as stakeholder relationships. The year to March 2025 is ahead of the YTD figures from last and we expect to see that trend continue throughout the financial year.

ON BEHALF OF THE BOARD:





Mr T A Sadler - Director


4 September 2024

Ashleighsigns Limited (Registered number: 01325080)

Report of the Directors
for the Year Ended 31 March 2024

The directors present their report with the financial statements of the company for the year ended 31 March 2024.

DIVIDENDS
No dividends will be distributed for the year ended 31 March 2024.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 April 2023 to the date of
this report.

Mr A S Bedford
Mr T A Sadler
Mrs A E Sadler

Other changes in directors holding office are as follows:

Mr A W Sadler - passed away 12 April 2023

DONATIONS
Charitable donations of £26,726 (2023: £17,497) were made during the year.

FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES
The Company holds or issues financial instruments in order to achieve three main objectives, being:

(a) to finance its operations;

(b) to manage its exposure to interest and currency risks arising from its operations and from its sources of finance; and

(c) for trading purposes.

In addition, various financial instruments (e.g. trade debtors, trade creditors, accruals and prepayments) arise directly from the Company's operations.

Transactions in financial instruments result in the Company assuming or transferring to another party one or more of the financial risks described below.

Credit risk
The Company monitors credit risk closely and considers that its current policies of credit checks meets its objectives of managing exposure to credit risk.

The Company has no significant concentrations of credit risk. Amounts shown in the balance sheet best represent the maximum credit risk exposure in the event other parties fail to perform their obligations under financial instruments.

DISCLOSURE IN THE STRATEGIC REPORT
Disclosures with regard to review of the business, principal risks and uncertainties, key performance indicators and future plans are included in the strategic report.


Ashleighsigns Limited (Registered number: 01325080)

Report of the Directors
for the Year Ended 31 March 2024

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
Under section 487(2) of the Companies Act 2006, CLA Evelyn Partners Limited will be deemed to have been reappointed as auditors 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the accounts with the registrar, whichever is earlier.

ON BEHALF OF THE BOARD:





Mr T A Sadler - Director


4 September 2024

Report of the Independent Auditors to the Members of
Ashleighsigns Limited

Opinion
We have audited the financial statements of Ashleighsigns Limited (the 'company') for the year ended 31 March 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 March 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Ashleighsigns Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page five, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Ashleighsigns Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
- we identified the laws and regulations applicable to the company through discussions with directors and other management; and from our commercial knowledge and experience of the heating sector
- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and data protection, anti-bribery, employment, environmental and health and safety legislation;
- we assessed the extent of compliance with laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to misstatement, including obtaining an understanding of how fraud might occur, by:
- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud;
- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations; and
- understanding the design of the company's remuneration policies.

To address the risk of fraud through management bias and override of controls, including the impact on revenue recognition, we:
- performed analytical procedures to identify any unusual or unexpected relationships;
- used data analytics software to test journal entries to identify unusual transactions;
- assessed whether judgements and assumptions made in determining the accounting estimates set out in note 3 were indicative of potential bias; and
- investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
- agreeing financial statement disclosure to underlying supporting documentation;
- enquiring of management as to actual and potential litigation and claims; and
- reviewing correspondence with HMRC, relevant regulators and the company's legal advisors.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.


Report of the Independent Auditors to the Members of
Ashleighsigns Limited

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Matthew Barton BA (Hons) FCA CTA (Senior Statutory Auditor)
for and on behalf of CLA Evelyn Partners Limited
Chartered Accountants &
Statutory Auditors
3rd Floor
56 Wellington Street
Leeds
West Yorkshire
LS1 2EE

13 September 2024

Ashleighsigns Limited (Registered number: 01325080)

Statement of Comprehensive Income
for the Year Ended 31 March 2024

2024 2023
Notes £    £   

TURNOVER 22,117,679 20,877,757

Cost of sales 12,109,332 12,138,933
GROSS PROFIT 10,008,347 8,738,824

Administrative expenses 8,456,272 7,149,808
OPERATING PROFIT 7 1,552,075 1,589,016

Interest receivable and similar income 8 37,782 2,110
1,589,857 1,591,126

Interest payable and similar expenses 9 3,054 25,465
PROFIT BEFORE TAXATION 1,586,803 1,565,661

Tax on profit 10 73,750 (208,089 )
PROFIT FOR THE FINANCIAL YEAR 1,513,053 1,773,750

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

1,513,053

1,773,750

Ashleighsigns Limited (Registered number: 01325080)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 12 11,929 83,533
Tangible assets 13 918,952 994,833
930,881 1,078,366

CURRENT ASSETS
Stocks 14 747,031 952,551
Debtors 15 6,787,909 5,993,144
Cash at bank and in hand 4,217,099 3,165,929
11,752,039 10,111,624
CREDITORS
Amounts falling due within one year 16 3,421,251 3,544,145
NET CURRENT ASSETS 8,330,788 6,567,479
TOTAL ASSETS LESS CURRENT
LIABILITIES

9,261,669

7,645,845

CREDITORS
Amounts falling due after more than one
year

17

-

(66,667

)

PROVISIONS FOR LIABILITIES 19 (432,638 ) (263,200 )
NET ASSETS 8,829,031 7,315,978

CAPITAL AND RESERVES
Called up share capital 20 64,000 64,000
Share premium 21 2,975 2,975
Capital redemption reserve 21 61,000 61,000
Retained earnings 21 8,701,056 7,188,003
SHAREHOLDERS' FUNDS 8,829,031 7,315,978

The financial statements were approved by the Board of Directors and authorised for issue on 4 September 2024 and were signed on its behalf by:





Mr T A Sadler - Director


Ashleighsigns Limited (Registered number: 01325080)

Statement of Changes in Equity
for the Year Ended 31 March 2024

Called up Capital
share Retained Share redemption Total
capital earnings premium reserve equity
£    £    £    £    £   
Balance at 1 April 2022 64,000 5,914,253 2,975 61,000 6,042,228

Changes in equity
Dividends - (500,000 ) - - (500,000 )
Total comprehensive income - 1,773,750 - - 1,773,750
Balance at 31 March 2023 64,000 7,188,003 2,975 61,000 7,315,978

Changes in equity
Total comprehensive income - 1,513,053 - - 1,513,053
Balance at 31 March 2024 64,000 8,701,056 2,975 61,000 8,829,031

Ashleighsigns Limited (Registered number: 01325080)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Ashleighsigns Limited 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. STATEMENT OF COMPLIANCE

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" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Going concern
The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information in making their assessment. Based on these assessments, given the measures that could be undertaken to mitigate the current conditions, and the current resources available, the Directors have concluded as per the Strategic report that they can continue to adopt the going concern basis in preparing the annual report and accounts.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows;
the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b)
and 11.48(c).

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of five years.

Ashleighsigns Limited (Registered number: 01325080)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible fixed assets under the cost model, other than investment properties, are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets using the reducing balance method.

Depreciation is provided on the following basis:
Motor vehicles - 25% reducing balance basis
Plant and machinery - 25% reducing balance basis
Other tangibles - 25% reducing balance basis

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the statement of comprehensive income.

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

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in the profit or loss.

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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.

Ashleighsigns Limited (Registered number: 01325080)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. ACCOUNTING POLICIES - continued

Foreign currencies
The Company's functional and presentational currency is GBP (£).

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Nonmonetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the statement of comprehensive income except when deferred in other comprehensive income as qualifying cash flow hedges.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Ashleighsigns Limited (Registered number: 01325080)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. ACCOUNTING POLICIES - continued

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term creditors are measured at the transaction price.

Provision for liabilities
Provisons are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into accounts relevant risks and uncertainties.

When payments are eventually made, they are charge to the provision carried in the balance sheet.

Finance costs
Finance costs are charged to the statement of comprehensive income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount.

Interest income
Interest income is recognised in the statement of comprehensive income using the effective interest method.

Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Employee benefits
Short term employee benefits, including holiday pay and other similar non monetary benefits, are recognised as an expense in the period in which they are incurred.

Government grants
Government grants are recognised using the accruals model. Grants relating to revenue are recognised in the income statement on a systematic basis over the period in which the company recognises the related costs for which the grants is intended to compensate.

4. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

Preparation of the financial statements requires management to make significant judgments and estimates. The items in the financial statements where these key judgments and estimates have been made include the remedial works provision.

Ashleighsigns Limited (Registered number: 01325080)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 5,327,505 4,561,883
Social security costs 549,796 477,711
Other pension costs 349,843 234,902
6,227,144 5,274,496

The average number of employees during the year was as follows:
2024 2023

Production 78 72
Administration and support 43 40
Sales 23 22
Directors 4 4
148 138

6. DIRECTORS' EMOLUMENTS



2024

2023


£

£
Directors' remuneration 295,523 326,205
Directors' pension 162,478 30,000

The highest paid director received remuneration of £113,776 (2023: £105,739).

Company contributions to defined contribution pension schemes in respect of the highest paid director amount to £50,000 (2023: £NIL).

7. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2024 2023
£    £   
Depreciation - owned assets 296,848 200,923
Depreciation - assets on hire purchase contracts or finance leases - 15,366
Profit on disposal of fixed assets (3,953 ) (81,890 )
Goodwill amortisation 71,604 71,600
Auditors' remuneration 9,000 9,000
Foreign exchange differences (12,038 ) (28,309 )

8. INTEREST RECEIVABLE AND SIMILAR INCOME
2024 2023
£    £   
Deposit account interest 37,782 2,110

Ashleighsigns Limited (Registered number: 01325080)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

9. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Other interest payable 3,054 22,145
Hire purchase - 3,320
3,054 25,465

10. TAXATION

Analysis of the tax charge/(credit)
The tax charge/(credit) on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 135,757 -
Adjustments in respect of
previous periods (354,415 ) (32,039 )
Total current tax (218,658 ) (32,039 )

Deferred tax 292,408 (176,050 )
Tax on profit 73,750 (208,089 )

Reconciliation of total tax charge/(credit) included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 1,586,803 1,565,661
Profit multiplied by the standard rate of corporation tax in the UK of
25% (2023 - 19%)

396,701

297,476

Effects of:
Expenses not deductible for tax purposes 31,714 21,982
Capital allowances in excess of depreciation - (19,279 )
Utilisation of tax losses - (92,090 )
Adjustments to tax charge in respect of previous periods (354,665 ) (32,039 )


Tax change from effect of adjustment in research and development tax credit
-

(427,577

)
Changes in deferred tax rates - 43,438
Total tax charge/(credit) 73,750 (208,089 )

11. DIVIDENDS

20242023
££
Ordinary shares of £1 each
Final-500,000

Ashleighsigns Limited (Registered number: 01325080)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

12. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 358,000
AMORTISATION
At 1 April 2023 274,467
Amortisation for year 71,604
At 31 March 2024 346,071
NET BOOK VALUE
At 31 March 2024 11,929
At 31 March 2023 83,533

13. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 April 2023 420,853 2,551,423 473,680 3,445,956
Additions 4,957 60,367 164,970 230,294
Disposals - (1,000 ) (46,782 ) (47,782 )
At 31 March 2024 425,810 2,610,790 591,868 3,628,468
DEPRECIATION
At 1 April 2023 232,870 1,996,540 221,713 2,451,123
Charge for year 46,880 147,817 102,151 296,848
Eliminated on disposal - - (38,455 ) (38,455 )
At 31 March 2024 279,750 2,144,357 285,409 2,709,516
NET BOOK VALUE
At 31 March 2024 146,060 466,433 306,459 918,952
At 31 March 2023 187,983 554,883 251,967 994,833

14. STOCKS
2024 2023
£    £   
Stocks 747,031 952,551

Ashleighsigns Limited (Registered number: 01325080)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 4,657,457 4,447,522
Other debtors 65,256 73,155
Amounts owed by related
parties 1,003,915 1,104,744
Directors' loan accounts 848,213 3,324
Deferred tax asset - 115,970
Prepayments and accrued income 213,068 248,429
6,787,909 5,993,144

16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other loans (see note 18) - 350,208
Trade creditors 1,438,964 1,520,198
Amounts owed to group undertakings 541,428 604,772
Tax 10,757 -
Social security and other taxes 678,908 506,270
Other creditors 287,617 73,065
Accruals and deferred income 463,577 489,632
3,421,251 3,544,145

17. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other loans (see note 18) - 66,667

18. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Other loans - 350,208

Amounts falling due between two and five years:
Other loans - 2-5 years - 66,667

19. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 176,438 -
Other provisions 256,200 263,200
432,638 263,200

Ashleighsigns Limited (Registered number: 01325080)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

19. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 April 2023 (115,970 )
Charge to Statement of Comprehensive Income during year 292,408
Balance at 31 March 2024 176,438

20242023
£   £   
Accelerated capital allowances176,438(115,970)
Pension creditor --
176,438(115,970)

Other provisions represent a provision in respect of remedial works.

20. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
64,000 Ordinary 1 64,000 64,000

21. RESERVES
Capital
Retained Share redemption
earnings premium reserve Totals
£    £    £    £   

At 1 April 2023 7,188,003 2,975 61,000 7,251,978
Profit for the year 1,513,053 1,513,053
At 31 March 2024 8,701,056 2,975 61,000 8,765,031

22. PENSION COMMITMENTS

At the year end £32,449 (2023: £46,538) was outstanding in pension contributions payable. During the year a total of £349,843 was charged to the profit and loss account (2023: £234,902) for staff and directors pension contributions.

23. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included within debtors at the period end is a balance of £848,213 owed by directors (2023: £3,324). The maximum outstanding balance during the year was £848,213. The loan was unsecured and interest free.

Ashleighsigns Limited (Registered number: 01325080)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

24. RELATED PARTY DISCLOSURES

In accordance with the exemption allowed by FRS 102, no disclosures are made of transactions with other wholly owned member companies of the AVTO Holdings Limited Group.

Included within debtors at the year end is a balance of £848,213 owed by directors (2023: £9,468).

Included within debtors is a balance of £4,925 (2023: £580) owed by a related company. The two companies are related because of common ownership and management.

Included within debtors is a balance of £991,801 (2023: £1,103,551) owed by a related company. The two companies are related because of common ownership and management.

Included within debtors is a balance of £3,126 (2023: £613) owed by a related company. The two companies are related because of common ownership and management

Included within debtors is a balance of £45,590 (2023: £45,590 credit balance) owed by a related company. The two companies are related because of common ownership and management.

Included within creditors is a balance of £536,692 (2023: £549,535) owed to a related company. The two companies are related because of common ownership and management.

Included within creditors is a balance of £4,736 (2023: £9,646) owed to a related company. The two companies are related because of common ownership and management.

Payments to key management personnel for the year totalled £890,365 (2023: £621,291).

No further transactions with related parties took place as are required to be reported under FRS 102.

25. ULTIMATE CONTROLLING PARTY

The Company's parent undertaking is AVTO Holdings Limited, a company registered in England and Wales. Copies of the accounts of AVTO Holdings Limited may be obtained from the registered office at Ashleigh House, Beckbridge Road, Normanton Industrial Estate, Normanton, West Yorkshire, WF6 1TE.