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Registered number: 04069025
Signseen Limited
Unaudited Financial Statements
For The Year Ended 31 January 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 04069025
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 439,128 444,275
439,128 444,275
CURRENT ASSETS
Stocks 5 30,643 36,639
Debtors 6 228,523 181,444
Cash at bank and in hand 3,117 163,546
262,283 381,629
Creditors: Amounts Falling Due Within One Year 7 (162,185 ) (239,526 )
NET CURRENT ASSETS (LIABILITIES) 100,098 142,103
TOTAL ASSETS LESS CURRENT LIABILITIES 539,226 586,378
Creditors: Amounts Falling Due After More Than One Year 8 (22,122 ) (112,064 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (28,946 ) (21,494 )
NET ASSETS 488,158 452,820
CAPITAL AND RESERVES
Called up share capital 11 100 100
Profit and Loss Account 488,058 452,720
SHAREHOLDERS' FUNDS 488,158 452,820
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 David Goff
Director
23rd October 2024
The notes on pages 3 to 7 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Signseen Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04069025 . The registered office is 3c Merrow Business Park, Guildford, Surrey, GU4 7WA.
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 2% on cost
Plant & Machinery 15% on reducing balance and 4% on cost
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 10% and 15% on cost
Computer Equipment 33% on cost
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts 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 the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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2.5. 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.
2.6. 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.
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.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 11 (2023: 6)
11 6
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4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 February 2023 389,945 67,160 204,668 4,566
Additions - 17,844 32,658 1,809
Disposals - (12,692 ) (34,990 ) (2,852 )
As at 31 January 2024 389,945 72,312 202,336 3,523
Depreciation
As at 1 February 2023 69,968 48,952 103,421 1,861
Provided during the period 7,805 3,284 26,380 531
Disposals - (10,533 ) (18,988 ) (1,494 )
As at 31 January 2024 77,773 41,703 110,813 898
Net Book Value
As at 31 January 2024 312,172 30,609 91,523 2,625
As at 1 February 2023 319,977 18,208 101,247 2,705
Computer Equipment Total
£ £
Cost
As at 1 February 2023 7,249 673,588
Additions 1,921 54,232
Disposals (874 ) (51,408 )
As at 31 January 2024 8,296 676,412
Depreciation
As at 1 February 2023 5,111 229,313
Provided during the period 1,860 39,860
Disposals (874 ) (31,889 )
As at 31 January 2024 6,097 237,284
Net Book Value
As at 31 January 2024 2,199 439,128
As at 1 February 2023 2,138 444,275
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5. Stocks
2024 2023
£ £
Stock 17,843 19,202
Work in progress 12,800 17,437
30,643 36,639
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 156,408 116,614
Other debtors 72,115 64,830
228,523 181,444
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 26,045 29,774
Trade creditors 25,848 30,027
Bank loans and overdrafts 41,202 16,918
Other creditors 39,817 42,819
Taxation and social security 29,273 119,988
162,185 239,526
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 22,122 32,314
Bank loans - 79,750
22,122 112,064
9. Secured Creditors
The following amount is secured by a fixed and floating charge over the companies property:
2024 2023
£ £
Bank loans and overdrafts 27,548 64,185
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10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 26,045 29,774
Later than one year and not later than five years 22,122 32,314
48,167 62,088
48,167 62,088
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
12. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 February 2023 Amounts advanced Amounts repaid Amounts written off As at 31 January 2024
£ £ £ £ £
Mr David Goff 4,210 156,573 (116,978 ) - 43,805
The above loan is unsecured, interest free and repayable on demand.
13. Related Party Transactions
During the year dividends of £43,000 (2023: £86,000) were paid to the director.
14. Ultimate Controlling Party
The company's ultimate controlling party is Mr David Goff by virtue of his ownership of 100% of the issued share capital in the company.
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