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REGISTERED NUMBER: 03876828 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2023

FOR

ASSIGNS LIMITED

ASSIGNS LIMITED (REGISTERED NUMBER: 03876828)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ASSIGNS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2023







DIRECTORS: N J Cole
D P Chard





SECRETARY: N J Cole





REGISTERED OFFICE: Unit 21Jubilee Trade Centre
Jubilee Road
Letchworth
Hertfordshire
SG6 1SP





REGISTERED NUMBER: 03876828 (England and Wales)





ACCOUNTANTS: Barker Wilkinson Limited
19-21 Middle Row
Stevenage
Hertfordshire
SG1 3AW

ASSIGNS LIMITED (REGISTERED NUMBER: 03876828)

BALANCE SHEET
31ST DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 65,485 43,141

CURRENT ASSETS
Stocks 156,103 133,506
Debtors 5 284,316 235,329
Cash at bank and in hand 101,640 195,748
542,059 564,583
CREDITORS
Amounts falling due within one year 6 236,788 240,998
NET CURRENT ASSETS 305,271 323,585
TOTAL ASSETS LESS CURRENT
LIABILITIES

370,756

366,726

CREDITORS
Amounts falling due after more than one
year

7

15,661

25,780
NET ASSETS 355,095 340,946

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 355,093 340,944
SHAREHOLDERS' FUNDS 355,095 340,946

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

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

ASSIGNS LIMITED (REGISTERED NUMBER: 03876828)

BALANCE SHEET - continued
31ST DECEMBER 2023


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 24th September 2024 and were signed on its behalf by:





D P Chard - Director


ASSIGNS LIMITED (REGISTERED NUMBER: 03876828)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023

1. STATUTORY INFORMATION

Assigns 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. 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 directors have assessed various factors and risks affecting the company and its ability in these difficult economic times to continue to trade as a going concern. The directors have not identified any material uncertainties or risks related to events or conditions that could affect the carrying values of the company's assets and liabilities as at the balance sheet date.

Therefore the financial statements for the year ended 31st December 2023 have been prepared using the going concern basis of accounting.

Significant judgements and estimates
In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from those estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

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.
Improvements to property - 2% on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 33% on cost
Motor vehicles - 33% on cost
Computer equipment - 33% on cost

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
All basic financial instruments including trade and other debtors, cash and cash equivalents, trade and other creditors, are initially recognised at transaction price and thereafter stated at amortised cost if materially different.


ASSIGNS LIMITED (REGISTERED NUMBER: 03876828)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current 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 balance sheet date.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 6 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1st January 2023 43,886 24,267 12,607
Additions 2,293 24,050 -
At 31st December 2023 46,179 48,317 12,607
DEPRECIATION
At 1st January 2023 10,075 18,246 12,607
Charge for year 876 1,712 -
At 31st December 2023 10,951 19,958 12,607
NET BOOK VALUE
At 31st December 2023 35,228 28,359 -
At 31st December 2022 33,811 6,021 -

ASSIGNS LIMITED (REGISTERED NUMBER: 03876828)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1st January 2023 10,082 30,874 121,716
Additions - - 26,343
At 31st December 2023 10,082 30,874 148,059
DEPRECIATION
At 1st January 2023 10,082 27,565 78,575
Charge for year - 1,411 3,999
At 31st December 2023 10,082 28,976 82,574
NET BOOK VALUE
At 31st December 2023 - 1,898 65,485
At 31st December 2022 - 3,309 43,141

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 164,579 166,572
Other debtors 85,367 55,597
Directors' current accounts - 7,846
Tax 1,902 -
Prepayments 32,468 5,314
284,316 235,329

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,119 9,870
Trade creditors 124,533 109,159
Amounts owed to group undertakings 74,185 73,045
Tax - 5,357
Social security and other taxes 6,362 6,342
VAT 4,936 8,879
Other creditors 1,016 1,031
Accrued expenses 15,637 27,315
236,788 240,998

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 15,661 25,780

ASSIGNS LIMITED (REGISTERED NUMBER: 03876828)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 25,780 35,650

During June 2020 the company took out a Government-backed Bounce Back Loan, which was available as part of the Government's COVID-19 business support initiatives. The loan is repayable in instalments over six years at a rate of 2.5% interest, with the first 12 months' interest being met by the Government, which also acts as guarantor.

9. OTHER FINANCIAL COMMITMENTS

The company pays a related company for rent of office and warehouse space, though there is not a formal lease in connection therewith.The charges were £950 (2022: £22,000).

10. RELATED PARTY DISCLOSURES

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.

N Cole is a director of this company, Benchmark Fabrications Limited (BF) and Assigns Associates Limited (AA).

During the year, the company made sales of £76,538 (2022: £37,986) to and purchased goods/services of £Nil (2022: £10,185) from BF. At the balance sheet date there was a trading balance of £84,561 (2022: £56,640),, whilst there was a trading balance due by the company to BF of £6,660 (2022: £6,660).

At the balance sheet date there was a loan outstanding due to the company by AA of £85,367 (2022: £55,597).

11. IMMEDIATE PARENT UNDERTAKING

The company's immediate parent company is Assigns Holdings Limited, a company registered in England and Wales, which does not prepare group accounts and whose registered address and place of business is Unit 21 Jubilee Trading Centre, Jubilee Road, Letchworth, Hertfordshire, SG6 1SP.