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REGISTERED NUMBER: 00581842















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Stalite Signs Limited

Stalite Signs Limited (Registered number: 00581842)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Stalite Signs Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: N Bolt
C S Bolt





REGISTERED OFFICE: 7 Apple Lane
Trade City
Off Sidmouth Road
Exeter
EX2 5GL





REGISTERED NUMBER: 00581842





ACCOUNTANTS: Blue Sky
Chartered Accountants
The Old Dairy
Cadhay
Ottery St Mary
Devon
EX11 1QT

Stalite Signs Limited (Registered number: 00581842)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 74,051 90,445

CURRENT ASSETS
Stocks 15,284 6,742
Debtors 5 500,911 524,609
Cash at bank and in hand 359,650 333,418
875,845 864,769
CREDITORS
Amounts falling due within one year 6 305,689 301,291
NET CURRENT ASSETS 570,156 563,478
TOTAL ASSETS LESS CURRENT
LIABILITIES

644,207

653,923

PROVISIONS FOR LIABILITIES 17,298 17,510
NET ASSETS 626,909 636,413

CAPITAL AND RESERVES
Called up share capital 7,250 7,250
Retained earnings 619,659 629,163
SHAREHOLDERS' FUNDS 626,909 636,413

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

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 22 May 2024 and were signed on its behalf by:



C S Bolt - Director


Stalite Signs Limited (Registered number: 00581842)

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

1. Statutory information

Stalite Signs Limited is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 25% on reducing balance and 15% on reducing balance
Motor vehicles - 25% on reducing balance

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
(i) Financial assets
Basic financial assets, including trade and other debtors are initially recognised at the transaction price and therefore stated at amortisation cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the debtors are stated at cost less impairment losses for bad and doubtful debts.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

(ii) Financial liabilities
Basic financial liabilities, including trade and other creditors, bank loans and other loans are initially recognised at transaction price, unless the arrangement constitutes a financing transaction.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortisation cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.


Stalite Signs Limited (Registered number: 00581842)

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

2. Accounting policies - continued
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.

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.

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 10 (2022 - 10 ) .

4. Tangible fixed assets
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
Cost
At 1 January 2023 219,721 86,144 65,015 370,880
Additions 817 1,601 - 2,418
At 31 December 2023 220,538 87,745 65,015 373,298
Depreciation
At 1 January 2023 179,433 71,770 29,232 280,435
Charge for year 6,292 3,574 8,946 18,812
At 31 December 2023 185,725 75,344 38,178 299,247
Net book value
At 31 December 2023 34,813 12,401 26,837 74,051
At 31 December 2022 40,288 14,374 35,783 90,445

Stalite Signs Limited (Registered number: 00581842)

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

5. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 70,730 94,629
Amounts owed by group undertakings 420,500 420,500
Other debtors 9,681 9,480
500,911 524,609

6. Creditors: amounts falling due within one year
2023 2022
£    £   
Trade creditors 40,338 73,849
Taxation and social security 81,927 61,577
Other creditors 183,424 165,865
305,689 301,291