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REGISTERED NUMBER: 02236542 (England and Wales)










S R SIGNS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2024






S R SIGNS LIMITED (REGISTERED NUMBER: 02236542)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024










Page

Balance Sheet 1

Notes to the Financial Statements 2 to 6


S R SIGNS LIMITED (REGISTERED NUMBER: 02236542)

BALANCE SHEET
31ST MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 364,987 255,334

CURRENT ASSETS
Stocks 173,385 136,142
Debtors 5 2,319,914 2,056,755
Cash at bank and in hand 37,204 30,752
2,530,503 2,223,649
CREDITORS
Amounts falling due within one year 6 597,379 444,491
NET CURRENT ASSETS 1,933,124 1,779,158
TOTAL ASSETS LESS CURRENT LIABILITIES 2,298,111 2,034,492

CREDITORS
Amounts falling due after more than one year 7 (109,337 ) (76,196 )

PROVISIONS FOR LIABILITIES (23,450 ) (5,578 )
NET ASSETS 2,165,324 1,952,718

CAPITAL AND RESERVES
Called up share capital 10 1,000 1,000
Retained earnings 2,164,324 1,951,718
SHAREHOLDERS' FUNDS 2,165,324 1,952,718

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11th September 2024 and were signed on its behalf by:





S Purves - Director


S R SIGNS LIMITED (REGISTERED NUMBER: 02236542)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024


1. STATUTORY INFORMATION

S R Signs Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 02236542

Registered office: 12 Wortley Moor Lane Trading Estate
Wortley
Leeds
LS12 4HX

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 presented in sterling which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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

When the outcome of a transaction can be estimated reliably, turnover from the manufacturing of signs is recognised by reference to the stage of completion at the balance sheet date.

Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Plant and machinery20% straight line
Motor vehicles20% straight line

Stocks
Stocks are stated 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 stock to its present location and condition. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

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


S R SIGNS LIMITED (REGISTERED NUMBER: 02236542)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


2. ACCOUNTING POLICIES - continued
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
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.

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.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Provisions
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 38 (2023 - 37 ) .

S R SIGNS LIMITED (REGISTERED NUMBER: 02236542)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st April 2023 11,465 924,859 936,324
Additions - 228,248 228,248
Disposals - (103,325 ) (103,325 )
At 31st March 2024 11,465 1,049,782 1,061,247
DEPRECIATION
At 1st April 2023 11,465 669,525 680,990
Charge for year - 92,223 92,223
Eliminated on disposal - (76,953 ) (76,953 )
At 31st March 2024 11,465 684,795 696,260
NET BOOK VALUE
At 31st March 2024 - 364,987 364,987
At 31st March 2023 - 255,334 255,334

The assets held under hire purchase have a net book value of £331,241 (2023 - £232,276)


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,118,735 767,762
Other debtors 1,201,179 1,288,993
2,319,914 2,056,755

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 8) 85,048 56,598
Trade creditors 267,256 194,081
Taxation and social security 230,824 177,403
Other creditors 14,251 16,409
597,379 444,491

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 8) 109,337 76,196

S R SIGNS LIMITED (REGISTERED NUMBER: 02236542)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 85,048 56,598
Between one and five years 109,337 76,196
194,385 132,794

Non-cancellable operating leases
2024 2023
£    £   
Within one year 48,805 45,610
Between one and five years 96,000 805
144,805 46,415

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 194,385 132,794

The secured debts above are secured by the assets that they relate to.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
500 Ordinary A £1 500 500
500 Ordinary B £1 500 500
1,000 1,000

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

The Report of the Auditors was unqualified.

Thomas Bond ACA (Senior Statutory Auditor)
for and on behalf of Thomas Coombs Limited

S R SIGNS LIMITED (REGISTERED NUMBER: 02236542)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the year ended 31st March 2024 and 31st March 2023:


20242023
££
Balance outstanding at start of year(1,429)3,079
Amounts advanced 153,01480,492
Amounts repaid(152,000)(85,000)
Balance outstanding at end of year (415)(1,429)