Caseware UK (AP4) 2023.0.135 2023.0.135 362023-02-01falseNo description of principal activity36truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 01032840 2023-02-01 2024-01-31 01032840 2022-02-01 2023-01-31 01032840 2024-01-31 01032840 2023-01-31 01032840 c:Director2 2023-02-01 2024-01-31 01032840 d:Buildings 2023-02-01 2024-01-31 01032840 d:Buildings 2024-01-31 01032840 d:Buildings 2023-01-31 01032840 d:Buildings d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 01032840 d:Buildings d:LongLeaseholdAssets 2023-02-01 2024-01-31 01032840 d:PlantMachinery 2023-02-01 2024-01-31 01032840 d:PlantMachinery 2024-01-31 01032840 d:PlantMachinery 2023-01-31 01032840 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 01032840 d:MotorVehicles 2023-02-01 2024-01-31 01032840 d:MotorVehicles 2024-01-31 01032840 d:MotorVehicles 2023-01-31 01032840 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 01032840 d:FurnitureFittings 2023-02-01 2024-01-31 01032840 d:FurnitureFittings 2024-01-31 01032840 d:FurnitureFittings 2023-01-31 01032840 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 01032840 d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 01032840 d:CurrentFinancialInstruments 2024-01-31 01032840 d:CurrentFinancialInstruments 2023-01-31 01032840 d:Non-currentFinancialInstruments 2024-01-31 01032840 d:Non-currentFinancialInstruments 2023-01-31 01032840 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 01032840 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 01032840 d:Non-currentFinancialInstruments d:AfterOneYear 2024-01-31 01032840 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 01032840 d:ShareCapital 2024-01-31 01032840 d:ShareCapital 2023-01-31 01032840 d:CapitalRedemptionReserve 2023-02-01 2024-01-31 01032840 d:CapitalRedemptionReserve 2024-01-31 01032840 d:CapitalRedemptionReserve 2023-01-31 01032840 d:RevaluationReserve 2023-02-01 2024-01-31 01032840 d:RevaluationReserve 2024-01-31 01032840 d:RevaluationReserve 2023-01-31 01032840 d:RetainedEarningsAccumulatedLosses 2023-02-01 2024-01-31 01032840 d:RetainedEarningsAccumulatedLosses 2024-01-31 01032840 d:RetainedEarningsAccumulatedLosses 2023-01-31 01032840 c:OrdinaryShareClass1 2023-02-01 2024-01-31 01032840 c:OrdinaryShareClass1 2024-01-31 01032840 c:OrdinaryShareClass1 2023-01-31 01032840 c:FRS102 2023-02-01 2024-01-31 01032840 c:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 01032840 c:FullAccounts 2023-02-01 2024-01-31 01032840 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 01032840 d:HirePurchaseContracts d:WithinOneYear 2024-01-31 01032840 d:HirePurchaseContracts d:WithinOneYear 2023-01-31 01032840 2 2023-02-01 2024-01-31 01032840 5 2023-02-01 2024-01-31 01032840 d:AcceleratedTaxDepreciationDeferredTax 2024-01-31 01032840 d:AcceleratedTaxDepreciationDeferredTax 2023-01-31 01032840 d:TaxLossesCarry-forwardsDeferredTax 2024-01-31 01032840 d:TaxLossesCarry-forwardsDeferredTax 2023-01-31 01032840 d:RetirementBenefitObligationsDeferredTax 2024-01-31 01032840 d:RetirementBenefitObligationsDeferredTax 2023-01-31 01032840 d:OtherDeferredTax 2024-01-31 01032840 d:OtherDeferredTax 2023-01-31 01032840 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2024-01-31 01032840 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-01-31 01032840 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-01-31 01032840 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-01-31 01032840 d:LeasedAssetsHeldAsLessee 2024-01-31 01032840 d:LeasedAssetsHeldAsLessee 2023-01-31 01032840 e:PoundSterling 2023-02-01 2024-01-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 01032840










Tara Signs Limited








Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 31 January 2024

 
Tara Signs Limited
 
  
Chartered Accountants' Report to the Board of Directors on the preparation of the Unaudited Statutory Financial Statements of Tara Signs Limited for the Year Ended 31 January 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Tara Signs Limited for the year ended 31 January 2024 which comprise  the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of Directors of Tara Signs Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Tara Signs Limited and state those matters that we have agreed to state to the Board of Directors of Tara Signs Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Tara Signs Limited and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that Tara Signs Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Tara Signs Limited. You consider that Tara Signs Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Tara Signs Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Kreston Reeves LLP
Chartered Accountants
9 Donnington Park
85 Birdham Road
Chichester
West Sussex
PO20 7AJ
9 October 2024
Page 1

 
Tara Signs Limited
Registered number: 01032840

Balance Sheet
As at 31 January 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,134,658
1,114,037

Current assets
  

Stocks
 5 
252,126
322,277

Debtors: amounts falling due within one year
 6 
665,800
752,289

Cash at bank and in hand
  
742,553
948,489

  
1,660,479
2,023,055

Creditors: amounts falling due within one year
 7 
(815,178)
(1,260,964)

Net current assets
  
 
 
845,301
 
 
762,091

Total assets less current liabilities
  
1,979,959
1,876,128

Creditors: amounts falling due after more than one year
 8 
(41,320)
(36,703)

Provisions for liabilities
  

Deferred tax
 10 
(113,692)
(102,499)

  
 
 
(113,692)
 
 
(102,499)

Net assets
  
1,824,947
1,736,926


Capital and reserves
  

Called up share capital 
 11 
950
950

Revaluation reserve
 12 
260,077
285,624

Capital redemption reserve
 12 
50
50

Profit and loss account
 12 
1,563,870
1,450,302

  
1,824,947
1,736,926


Page 2

 
Tara Signs Limited
Registered number: 01032840

Balance Sheet (continued)
As at 31 January 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
L D Finch
Director
Date: 7 October 2024

The notes on pages 4 to 11 form part of these financial statements.

Page 3

 
Tara Signs Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 January 2024

1.


General information

The Company is a private company limited by share capital incorporated in England and Wales, with the registered number 01032840.
The address of its registered office and principal place of business is: 
St Peters Place
Western Road
Lancing
West Sussex
BN15 8SB

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 4

 
Tara Signs Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 January 2024

2.Accounting policies (continued)

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model 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 provided on the following basis:

Freehold property
-
2%
straight line
Plant and machinery
-
20%
reducing balance
Motor vehicles
-
25%
straight line
Fixtures and fittings
-
10%
-  50% reducing balance

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.

 
2.5

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 5

 
Tara Signs Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 January 2024

2.Accounting policies (continued)

 
2.7

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.

 
2.8

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.

 
2.9

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Finance costs

Finance costs are charged to profit or loss 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. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.12

Leased assets: the Company as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Page 6

 
Tara Signs Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 January 2024

2.Accounting policies (continued)

 
2.13

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.14

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.15

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.16

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


Employees

The average monthly number of employees, including directors, during the year was 36 (2023 - 36).

Page 7

 
Tara Signs Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 January 2024

4.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£
£



Cost or valuation


At 1 February 2023
1,009,500
415,199
160,132
300,972
1,885,803


Additions
-
5,950
86,000
3,014
94,964


Disposals
-
-
(17,674)
-
(17,674)



At 31 January 2024

1,009,500
421,149
228,458
303,986
1,963,093



Depreciation


At 1 February 2023
49,489
342,557
107,737
271,983
771,766


Charge for the year 
10,173
15,745
42,769
5,656
74,343


Disposals
-
-
(17,674)
-
(17,674)



At 31 January 2024

59,662
358,302
132,832
277,639
828,435



Net book value



At 31 January 2024
949,838
62,847
95,626
26,347
1,134,658



At 31 January 2023
960,011
72,642
52,395
28,989
1,114,037

The Company's Freehold land and buildings are valued at open market value. Had this class of asset been measured on a historical cost basis, the carrying amount would have been £577,443 (2023 - £591,657). The directors considered the fair value of the Freehold land and buildings to be that of the current value or similar. 

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Plant and machinery
19,795
24,744

Motor vehicles
62,471
29,583

82,266
54,327

Page 8

 
Tara Signs Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 January 2024

5.


Stocks

2024
2023
£
£

Raw materials and consumables
124,101
116,830

Work in progress
128,025
205,447

252,126
322,277



6.


Debtors

2024
2023
£
£


Trade debtors
579,105
639,102

Other debtors
7,728
663

Prepayments and accrued income
52,813
24,969

Tax recoverable
-
39,669

Deferred taxation
26,154
47,886

665,800
752,289



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
-
260,725

Trade creditors
458,336
490,306

Other taxation and social security
47,125
92,276

Obligations under finance lease and hire purchase contracts
26,374
19,332

Other creditors
3,339
2,584

Accruals and deferred income
280,004
395,741

815,178
1,260,964


Page 9

 
Tara Signs Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 January 2024

8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
41,320
36,703

41,320
36,703


The following liabilities were secured:

2024
2023
£
£



Bank loans
-
260,725

-
260,725

Details of security provided:

The bank loan was a mortgage provided by HSBC Plc.  The mortgage was secured by a fixed charge on the Company's freehold property, and was repaid on 17 February 2023.


9.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
26,374
19,332

26,374
19,332


10.


Deferred taxation




2024


£






At beginning of year
(54,613)


Charged to profit or loss
(32,925)



At end of year
(87,538)

Page 10

 
Tara Signs Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 January 2024
 
10.Deferred taxation (continued)

The deferred tax balance is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(20,593)
(9,400)

Tax losses carried forward
26,154
47,240

Unrealised gain
(93,099)
(93,099)

Short term timing differences
-
646

(87,538)
(54,613)

Comprising:

Asset - due within one year
26,154
47,886

Liability
(113,692)
(102,499)

(87,538)
(54,613)



11.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



950 (2023 - 950) Ordinary shares of £1.00 each
950
950



12.


Reserves

Revaluation reserve

The fair value reserve represents the cumulative effect of revaluations and deferred tax movement arising on the revaluations of freehold and leasehold investment properties which are revalued at each reporting date. 

Capital redemption reserve

The capital redemption reserve represents the change in equity on the buy back of the companies own shares. This is a non distributable reserve. 

Profit and loss account

The profit and loss reserve represents cumulative profits or losses, net of dividends paid and other adjustments. 


Page 11