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Registered number: 06809288
Signature CNC Limited
Financial Statements
For The Year Ended 31 March 2024
Apple Accountancy Services Limited
Chartered Certified Accountants
146 Manor Way
Borehamwood
Hertfordshire
WD6 1QX
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—5
Page 1
Accountant's Report
Report to the director on the preparation of the unaudited statutory accounts of Signature CNC Limited For The Year Ended 31 March 2024
To assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of Signature CNC Limited which comprise the Profit and Loss Account, 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 of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the director of Signature CNC Limited , as a body, in accordance with the terms of our engagement letter dated 01 March 2021. Our work has been undertaken solely to prepare for your approval the accounts of Signature CNC Limited and state those matters that we have agreed to state to the director of Signature CNC Limited , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Signature CNC Limited and its director as a body for our work or for this report.
It is your duty to ensure that Signature CNC Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Signature CNC Limited . You consider that Signature CNC Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Signature CNC 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 financial statements.
Signed
10th October 2024
Apple Accountancy Services Limited
Chartered Certified Accountants
146 Manor Way
Borehamwood
Hertfordshire
WD6 1QX
Page 1
Page 2
Balance Sheet
Registered number: 06809288
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 12,068 9,710
12,068 9,710
CURRENT ASSETS
Debtors 62,399 20,247
Cash at bank and in hand 15,736 140,830
78,135 161,077
Creditors: Amounts Falling Due Within One Year (43,529 ) (75,347 )
NET CURRENT ASSETS (LIABILITIES) 34,606 85,730
TOTAL ASSETS LESS CURRENT LIABILITIES 46,674 95,440
Creditors: Amounts Falling Due After More Than One Year (12,231 ) (22,435 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (2,293 ) (1,845 )
NET ASSETS 32,150 71,160
CAPITAL AND RESERVES
Called up share capital 50 50
Capital redemption reserve 50 50
Profit and Loss Account 32,050 71,060
SHAREHOLDERS' FUNDS 32,150 71,160
Page 2
Page 3
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Graham Robinson
Director
10th October 2024
The notes on pages 4 to 5 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Signature CNC Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06809288 . The registered office is 8 Audley Close, Borehamwood, Hertfordshire, WD6 1UF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 33% Straight line
Motor Vehicles 25% Reducing balance
Fixtures & Fittings 20% Reducing balance
Computer Equipment 33% Straight line
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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2.4. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 5)
5 5
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2023 46,035 23,917 2,739 7,674 80,365
Additions 9,700 - 75 1,178 10,953
As at 31 March 2024 55,735 23,917 2,814 8,852 91,318
Depreciation
As at 1 April 2023 43,140 20,724 1,886 4,905 70,655
Provided during the period 5,669 798 186 1,942 8,595
As at 31 March 2024 48,809 21,522 2,072 6,847 79,250
Net Book Value
As at 31 March 2024 6,926 2,395 742 2,005 12,068
As at 1 April 2023 2,895 3,193 853 2,769 9,710
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