Acorah Software Products - Accounts Production 16.0.110 false true 28 February 2023 1 March 2022 false 1 March 2023 28 February 2024 28 February 2024 08048514 Miss Sukhjinder Kaur Miss Sukhjinder Kaur iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08048514 2023-02-28 08048514 2024-02-28 08048514 2023-03-01 2024-02-28 08048514 frs-core:CurrentFinancialInstruments 2024-02-28 08048514 frs-core:Non-currentFinancialInstruments 2024-02-28 08048514 frs-core:FurnitureFittings 2023-03-01 2024-02-28 08048514 frs-core:NetGoodwill 2024-02-28 08048514 frs-core:NetGoodwill 2023-03-01 2024-02-28 08048514 frs-core:NetGoodwill 2023-02-28 08048514 frs-core:PlantMachinery 2024-02-28 08048514 frs-core:PlantMachinery 2023-03-01 2024-02-28 08048514 frs-core:PlantMachinery 2023-02-28 08048514 frs-core:ShareCapital 2024-02-28 08048514 frs-core:RetainedEarningsAccumulatedLosses 2024-02-28 08048514 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-28 08048514 frs-bus:FilletedAccounts 2023-03-01 2024-02-28 08048514 frs-bus:SmallEntities 2023-03-01 2024-02-28 08048514 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-28 08048514 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-28 08048514 frs-bus:Director1 2023-03-01 2024-02-28 08048514 frs-bus:CompanySecretary1 2023-03-01 2024-02-28 08048514 frs-countries:EnglandWales 2023-03-01 2024-02-28 08048514 2022-02-28 08048514 2023-02-28 08048514 2022-03-01 2023-02-28 08048514 frs-core:CurrentFinancialInstruments 2023-02-28 08048514 frs-core:Non-currentFinancialInstruments 2023-02-28 08048514 frs-core:ShareCapital 2023-02-28 08048514 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: 08048514
Signature Apparel Limited
Unaudited Financial Statements
For The Year Ended 28 February 2024
SRI TAX ACCOUNTANTS
255 Abbey Road
Smethwick
B67 5NQ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08048514
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 52,790 52,790
Tangible Assets 5 28,631 18,900
81,421 71,690
CURRENT ASSETS
Debtors 6 156,189 124,246
Cash at bank and in hand 13,639 14,677
169,828 138,923
Creditors: Amounts Falling Due Within One Year 7 (108,016 ) (86,153 )
NET CURRENT ASSETS (LIABILITIES) 61,812 52,770
TOTAL ASSETS LESS CURRENT LIABILITIES 143,233 124,460
Creditors: Amounts Falling Due After More Than One Year 8 (23,280 ) (34,097 )
NET ASSETS 119,953 90,363
CAPITAL AND RESERVES
Called up share capital 9 1 1
Profit and Loss Account 119,952 90,362
SHAREHOLDERS' FUNDS 119,953 90,363
Page 1
Page 2
For the year ending 28 February 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 her 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
Miss Sukhjinder Kaur
Director
12/11/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Signature Apparel Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08048514 . The registered office is 325 Chester Road, Sutton Coldfield, West Midlands, B73 5BL.
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. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. 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 0
Fixtures & Fittings 0
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 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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
Page 3
Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 4)
2 4
4. Intangible Assets
Goodwill
£
Cost
As at 1 March 2023 52,790
As at 28 February 2024 52,790
Net Book Value
As at 28 February 2024 52,790
As at 1 March 2023 52,790
5. Tangible Assets
Plant & Machinery
£
Cost
As at 1 March 2023 18,900
Additions 9,731
As at 28 February 2024 28,631
Net Book Value
As at 28 February 2024 28,631
As at 1 March 2023 18,900
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 103,189 71,246
Amounts owed by group undertakings 53,000 53,000
156,189 124,246
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 42,219 34,908
Corporation tax 12,663 5,716
Other taxes and social security 12,684 7,579
Other creditors 11,500 9,000
Accruals and deferred income 450 450
Amounts owed to other participating interests 28,500 28,500
108,016 86,153
Page 4
Page 5
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 23,280 34,097
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
Page 5