AST Signs Limited 04564916 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is graphic design and sign manufacture Digita Accounts Production Advanced 6.30.9574.0 true 04564916 2023-01-01 2023-12-31 04564916 2023-12-31 04564916 bus:Director1 1 2023-12-31 04564916 bus:Director2 1 2023-12-31 04564916 core:RetainedEarningsAccumulatedLosses 2023-12-31 04564916 core:ShareCapital 2023-12-31 04564916 core:SharePremium 2023-12-31 04564916 core:CurrentFinancialInstruments 2023-12-31 04564916 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 04564916 core:Non-currentFinancialInstruments 2023-12-31 04564916 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 04564916 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-12-31 04564916 core:Goodwill 2023-12-31 04564916 core:FurnitureFittingsToolsEquipment 2023-12-31 04564916 core:LandBuildings 2023-12-31 04564916 core:MotorVehicles 2023-12-31 04564916 core:OtherPropertyPlantEquipment 2023-12-31 04564916 core:DeferredTaxation 2023-12-31 04564916 core:OtherProvisionsContingentLiabilities 2023-12-31 04564916 bus:SmallEntities 2023-01-01 2023-12-31 04564916 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 04564916 bus:FilletedAccounts 2023-01-01 2023-12-31 04564916 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 04564916 bus:RegisteredOffice 2023-01-01 2023-12-31 04564916 bus:Director1 2023-01-01 2023-12-31 04564916 bus:Director1 1 2023-01-01 2023-12-31 04564916 bus:Director2 2023-01-01 2023-12-31 04564916 bus:Director2 1 2023-01-01 2023-12-31 04564916 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04564916 bus:Agent1 2023-01-01 2023-12-31 04564916 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-01-01 2023-12-31 04564916 core:Goodwill 2023-01-01 2023-12-31 04564916 core:IntangibleAssetsOtherThanGoodwill 2023-01-01 2023-12-31 04564916 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 04564916 core:Land 2023-01-01 2023-12-31 04564916 core:LandBuildings 2023-01-01 2023-12-31 04564916 core:LeaseholdImprovements 2023-01-01 2023-12-31 04564916 core:MotorVehicles 2023-01-01 2023-12-31 04564916 core:OfficeEquipment 2023-01-01 2023-12-31 04564916 core:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 04564916 core:PlantMachinery 2023-01-01 2023-12-31 04564916 core:DeferredTaxation 2023-01-01 2023-12-31 04564916 core:OtherProvisionsContingentLiabilities 2023-01-01 2023-12-31 04564916 countries:EnglandWales 2023-01-01 2023-12-31 04564916 2022-12-31 04564916 bus:Director1 1 2022-12-31 04564916 bus:Director2 1 2022-12-31 04564916 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-12-31 04564916 core:Goodwill 2022-12-31 04564916 core:FurnitureFittingsToolsEquipment 2022-12-31 04564916 core:LandBuildings 2022-12-31 04564916 core:MotorVehicles 2022-12-31 04564916 core:OtherPropertyPlantEquipment 2022-12-31 04564916 core:DeferredTaxation 2022-12-31 04564916 core:OtherProvisionsContingentLiabilities 2022-12-31 04564916 2022-01-01 2022-12-31 04564916 2022-12-31 04564916 bus:Director1 1 2022-12-31 04564916 core:RetainedEarningsAccumulatedLosses 2022-12-31 04564916 core:ShareCapital 2022-12-31 04564916 core:SharePremium 2022-12-31 04564916 core:CurrentFinancialInstruments 2022-12-31 04564916 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 04564916 core:Non-currentFinancialInstruments 2022-12-31 04564916 core:Non-currentFinancialInstruments core:AfterOneYear 2022-12-31 04564916 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-12-31 04564916 core:Goodwill 2022-12-31 04564916 core:FurnitureFittingsToolsEquipment 2022-12-31 04564916 core:LandBuildings 2022-12-31 04564916 core:MotorVehicles 2022-12-31 04564916 core:OtherPropertyPlantEquipment 2022-12-31 04564916 bus:Director1 1 2022-01-01 2022-12-31 04564916 bus:Director1 1 2021-12-31 iso4217:GBP xbrli:pure

Registration number: 04564916

AST Signs Limited

Unaudited Financial Statements

31 December 2023

image-name

 

AST Signs Limited

Contents

Accountants' Report

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

4

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
AST Signs Limited
for the Year Ended 31 December 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of AST Signs Limited for the year ended 31 December 2023 as set out on pages 2 to 12 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of AST Signs Limited, as a body, in accordance with the terms of our engagement letter dated 13 July 2020. Our work has been undertaken solely to prepare for your approval the accounts of AST Signs Limited and state those matters that we have agreed to state to the Board of Directors of AST Signs Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than AST Signs Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that AST Signs 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 of AST Signs Limited. You consider that AST Signs 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 AST Signs 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 statutory accounts.



Dodd & Co Limited
Chartered Accountants
FIFTEEN Rosehill
Montgomery Way
Rosehill Estate
CARLISLE
CA1 2RW

20 November 2024

 

AST Signs Limited

(Registration number: 04564916)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

37,147

66,865

Tangible assets

5

1,487,458

1,649,443

 

1,524,605

1,716,308

Current assets

 

Stocks

84,684

172,373

Debtors

6

2,225,666

2,321,426

Cash at bank and in hand

 

1,104,352

783,325

 

3,414,702

3,277,124

Creditors: Amounts falling due within one year

7

(2,021,325)

(2,091,714)

Net current assets

 

1,393,377

1,185,410

Total assets less current liabilities

 

2,917,982

2,901,718

Creditors: Amounts falling due after more than one year

7

(701,677)

(969,708)

Provisions for liabilities

(224,412)

(172,147)

Net assets

 

1,991,893

1,759,863

Capital and reserves

 

Allotted, called up and fully paid share capital

100

100

Share premium reserve

149,954

149,954

Profit and loss account

1,841,839

1,609,809

Total equity

 

1,991,893

1,759,863

 

AST Signs Limited

(Registration number: 04564916)
Balance Sheet as at 31 December 2023 (continued)

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 20 November 2024 and signed on its behalf by:
 

.........................................

M Aston

Director

 

AST Signs Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
The Box
Eden Business Park
PENRITH
CA11 9FB

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.


Other grants
Other grants in respect of capital expenditure are credited to a deferred income account and are released to profit over the expected useful lives of the relevant assets on a basis consistent with the depreciation policy.


Government grants
Grants relating to revenue are recognised in the profit and loss account on a systematic basis over the periods in which the related costs are recognised for which the grant is intended to compensate.

Grants for the purpose of giving immediate financial support with no future related costs to be incurred are recognised in the profit and loss account when the grant proceeds become receivable.

 

AST Signs Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land

not depreciated

Leasehold property improvements

over the length of the lease

Plant and equipment

15% reducing balance basis and 20% straight line basis

Motor vehicles

25% reducing balance basis

Furniture, fittings and office equipment

20% and 33% straight line basis

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Intangible assets

Lease premiums are initially recognised as an asset at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Lease premiums are amortised over their useful life.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

 

AST Signs Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

Asset class

Amortisation method and rate

Goodwill

5 years straight line

Lease premium

over the length of the lease

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for the sale of goods or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method where due after more than one year.

 

AST Signs Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

AST Signs Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 51 (2022 - 50).

4

Intangible assets

Goodwill
 £

Lease premium
 £

Total
£

Cost or valuation

At 1 January 2023

20,000

310,800

330,800

At 31 December 2023

20,000

310,800

330,800

Amortisation

At 1 January 2023

20,000

243,935

263,935

Amortisation charge

-

29,718

29,718

At 31 December 2023

20,000

273,653

293,653

Carrying amount

At 31 December 2023

-

37,147

37,147

At 31 December 2022

-

66,865

66,865

 

AST Signs Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

5

Tangible assets

Land and buildings
£

Plant and equipment
 £

Motor vehicles
 £

Furniture, fittings and office equipment
 £

Total
£

Cost or valuation

At 1 January 2023

2,558,925

1,794,389

609,555

1,021,541

5,984,410

Additions

3,965

77,342

240,657

61,817

383,781

Disposals

-

-

(20,745)

-

(20,745)

At 31 December 2023

2,562,890

1,871,731

829,467

1,083,358

6,347,446

Depreciation

At 1 January 2023

1,959,653

1,298,204

161,017

916,093

4,334,967

Charge for the year

204,450

117,092

155,229

61,206

537,977

Eliminated on disposal

-

-

(12,956)

-

(12,956)

At 31 December 2023

2,164,103

1,415,296

303,290

977,299

4,859,988

Carrying amount

At 31 December 2023

398,787

456,435

526,177

106,059

1,487,458

At 31 December 2022

599,272

496,185

448,538

105,448

1,649,443

6

Debtors

2023
£

2022
£

Trade debtors

1,744,968

1,752,670

Other debtors

480,698

568,756

2,225,666

2,321,426

 

AST Signs Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

7

Creditors

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

306,417

350,787

Trade creditors

 

932,357

1,064,983

Taxation and social security

 

253,087

220,917

Corporation tax liability

 

224,092

112,091

Other creditors

 

305,372

342,936

 

2,021,325

2,091,714

Due after one year

 

Loans and borrowings

8

667,379

877,687

Other creditors

 

34,298

92,021

 

701,677

969,708

8

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Bank borrowings

203,930

197,509

Finance lease liabilities

102,487

69,945

Other borrowings

-

83,333

306,417

350,787

Current loans and borrowings includes the following liabilities, on which security has been given by the company:

2023
£

2022
£

Bank borrowings

203,930

197,509

Finance lease liabilities

102,487

69,945

306,417

267,454

Bank borrowings are secured by fixed and floating charges over the company's assets.

Finance lease liabilities are secured on the assets to which they relate.

 

AST Signs Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

456,231

657,280

Finance lease liabilities

211,148

220,407

667,379

877,687

Non-current loans and borrowings includes the following liabilities, on which security has been given by the company:

2023
£

2022
£

Bank borrowings

456,231

657,280

Finance lease liabilities

211,148

220,407

667,379

877,687

Bank borrowings are secured by fixed and floating charges over the company's assets.

Finance lease liabilities are secured on the assets to which they relate.

9

Provisions for liabilities

Deferred tax
£

Other provisions
£

Total
£

At 1 January 2023

172,147

-

172,147

Additional provisions

-

50,000

50,000

Increase / (decrease) in existing provisions

2,265

-

2,265

At 31 December 2023

174,412

50,000

224,412

10

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £5,506 (2022 - £8,616).

 

AST Signs Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

11

Related party transactions

Transactions with directors

2023

At 1 January 2023
£

Advances
£

Repayments
£

Other payments
£

Dividends credited
£

Interest
£

At 31 December 2023
£

M Aston

Loan to director

208,052

315,899

(221,796)

-

(105,504)

4,507

201,158

               
         

W Stobart

Loan to director

-

111,000

(974)

-

(111,000)

974

-

               
         

 

2022

At 1 January 2022
£

Advances
£

Repayments
£

Other payments
£

Dividends credited
£

Interest
£

At 31 December 2022
£

M Aston

Loan to director

140,712

235,424

(98,670)

-

(73,500)

4,086

208,052

               
         

 

Directors' advances are repayable on demand.

Interest has been charged at a rate of 2% on advances to directors up to 5 April 2023, and at 2.25% thereafter.