REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2024 |
FOR |
DAVID BEARD SIGN ASSOCIATES LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2024 |
FOR |
DAVID BEARD SIGN ASSOCIATES LIMITED |
DAVID BEARD SIGN ASSOCIATES LIMITED (REGISTERED NUMBER: 01408103) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 May 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
DAVID BEARD SIGN ASSOCIATES LIMITED |
COMPANY INFORMATION |
for the Year Ended 31 May 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
DAVID BEARD SIGN ASSOCIATES LIMITED (REGISTERED NUMBER: 01408103) |
BALANCE SHEET |
31 May 2024 |
31.5.24 | 31.5.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Investments | 7 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Revaluation reserve | 11 |
Capital redemption reserve |
Retained earnings |
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. |
DAVID BEARD SIGN ASSOCIATES LIMITED (REGISTERED NUMBER: 01408103) |
BALANCE SHEET - continued |
31 May 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
DAVID BEARD SIGN ASSOCIATES LIMITED (REGISTERED NUMBER: 01408103) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 May 2024 |
1. | STATUTORY INFORMATION |
David Beard Sign Associates Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
All monetary values stated within these financial statements are rounded to the nearest £. |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Freehold property | - |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
No depreciation has been provided on freehold property as the property is maintained in such a state |
of repair that its residual value is at least equal to its net book value. As a result the corresponding |
depreciation would not be material and therefore is not charged to the profit and loss account. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
DAVID BEARD SIGN ASSOCIATES LIMITED (REGISTERED NUMBER: 01408103) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 May 2024 |
3. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | Plant and | and | Motor |
property | machinery | fittings | vehicles | Totals |
£ | £ | £ | £ | £ |
COST OR VALUATION |
At 1 June 2023 |
Additions |
Revaluations |
At 31 May 2024 |
DEPRECIATION |
At 1 June 2023 |
Charge for year |
Revaluation adjustments | ( |
) | ( |
) |
At 31 May 2024 |
NET BOOK VALUE |
At 31 May 2024 |
At 31 May 2023 |
DAVID BEARD SIGN ASSOCIATES LIMITED (REGISTERED NUMBER: 01408103) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 May 2024 |
5. | TANGIBLE FIXED ASSETS - continued |
Cost or valuation at 31 May 2024 is represented by: |
Fixtures |
Freehold | Plant and | and | Motor |
property | machinery | fittings | vehicles | Totals |
£ | £ | £ | £ | £ |
Valuation in 2024 | 82,454 | - | - | - | 82,454 |
Cost | 97,546 | 122,796 | 9,750 | 58,642 | 288,734 |
180,000 | 122,796 | 9,750 | 58,642 | 371,188 |
If freehold property had not been revalued it would have been included at the following historical cost: |
31.5.24 | 31.5.23 |
£ | £ |
Cost | 97,546 | 97,546 |
Freehold property was valued on an open market basis on 31 May 2024 by the directors. . |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.24 | 31.5.23 |
£ | £ |
Trade debtors |
Other debtors |
7. | CURRENT ASSET INVESTMENTS |
31.5.24 | 31.5.23 |
£ | £ |
Unlisted investments | 98,458 | 95,421 |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.24 | 31.5.23 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
DAVID BEARD SIGN ASSOCIATES LIMITED (REGISTERED NUMBER: 01408103) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 May 2024 |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.5.24 | 31.5.23 |
£ | £ |
Bank loans |
10. | CALLED UP SHARE CAPITAL |
The share capital of £2,002, (2023, £2,002) has been allotted, called up and fully paid. |
11. | RESERVES |
Revaluation |
reserve |
£ |
Revaluation of property | 144,848 |
Deferred tax on revaluation | (36,212 | ) |
At 31 May 2024 |