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Registered number: 04677287
Herts Signs & Graphics Limited
Unaudited Financial Statements
For The Year Ended 31 January 2024
Accounting Help Ltd
ICAEW
3rd Floor
12 East Passage
London
EC1A 7LP
Contents
Page
Balance Sheet 1—2
Statement of Changes in Equity 3
Notes to the Financial Statements 4—6
Page 1
Balance Sheet
Registered number: 04677287
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 11,359 5,771
11,359 5,771
CURRENT ASSETS
Stocks 5 6,000 11,000
Debtors 6 423,209 332,700
Cash at bank and in hand 185,132 102,386
614,341 446,086
Creditors: Amounts Falling Due Within One Year 7 (227,578 ) (141,669 )
NET CURRENT ASSETS (LIABILITIES) 386,763 304,417
TOTAL ASSETS LESS CURRENT LIABILITIES 398,122 310,188
Creditors: Amounts Falling Due After More Than One Year 8 (48,347 ) (65,196 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (2,158 ) (1,096 )
NET ASSETS 347,617 243,896
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 347,517 243,796
SHAREHOLDERS' FUNDS 347,617 243,896
Page 1
Page 2
For the year ending 31 January 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 Rishi Singh
Director
11/10/2024
The notes on pages 4 to 6 form part of these financial statements.
Page 2
Page 3
Statement of Changes in Equity
Share Capital Profit and Loss Account Total
£ £ £
As at 1 February 2022 100 191,598 191,698
Profit for the year and total comprehensive income - 92,198 92,198
Dividends paid - (40,000) (40,000)
As at 31 January 2023 and 1 February 2023 100 243,796 243,896
Profit for the year and total comprehensive income - 143,721 143,721
Dividends paid - (40,000) (40,000)
As at 31 January 2024 100 347,517 347,617
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Herts Signs & Graphics Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04677287 . The registered office is 42 Rusling Way, Stevenage, Hertfordshire, SG1 5BY.
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:
Freehold Nil
Plant & Machinery 25% - 33% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 15% reducing balance
2.4. Stocks and Work in Progress
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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. 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 year 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.
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 asset reflects 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.
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Page 5
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 8 14
8 14
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 February 2023 17,986 11,450 6,083 35,519
Additions - - 5,830 5,830
As at 31 January 2024 17,986 11,450 11,913 41,349
Depreciation
As at 1 February 2023 13,560 10,625 5,563 29,748
Provided during the period 92 18 132 242
As at 31 January 2024 13,652 10,643 5,695 29,990
Net Book Value
As at 31 January 2024 4,334 807 6,218 11,359
As at 1 February 2023 4,426 825 520 5,771
5. Stocks
2024 2023
£ £
Stock 6,000 -
Stock - 11,000
6,000 11,000
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 158,992 41,020
Prepayments and accrued income 1,321 1,617
Other debtors 262,896 290,063
423,209 332,700
Page 5
Page 6
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 35,322 63,916
Corporation tax 42,917 22,006
Other taxes and social security 490 504
VAT 24,999 21,431
Deferred income 89,430 -
Accruals 2,880 2,880
Director's loan account 31,540 30,932
227,578 141,669
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 48,347 65,196
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 6