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Company Registration No. 11655708 (England and Wales)
Iris Signs Ltd Filleted accounts for the year ended 30 November 2023
Iris Signs Ltd Filleted accounts Contents
Page
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Iris Signs Ltd Company Information for the year ended 30 November 2023
Director
Omar Farook Dagia
Company Number
11655708 (England and Wales)
Registered Office
Iris Signs 2 Stadium Place Leicester Leicestershire LE4 0JS England
Accountants
YP Finance Hawthorne House 17A Hawthorne Drive Leicester Leicestershire LE5 6DL
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Iris Signs Ltd Statement of financial position as at 30 November 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
5,999 
16,098 
Current assets
Inventories
20,000 
25,700 
Debtors
3,110 
1,890 
Cash at bank and in hand
28,649 
- 
51,759 
27,590 
Creditors: amounts falling due within one year
(8,911)
(1,940)
Net current assets
42,848 
25,650 
Total assets less current liabilities
48,847 
41,748 
Creditors: amounts falling due after more than one year
(156,955)
(156,957)
Net liabilities
(108,108)
(115,209)
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
(108,208)
(115,309)
Shareholders' funds
(108,108)
(115,209)
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 26 November 2024 and were signed on its behalf by
Omar Farook Dagia Director Company Registration No. 11655708
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Iris Signs Ltd Notes to the Accounts for the year ended 30 November 2023
1
Statutory information
Iris Signs Ltd is a private company, limited by shares, registered in England and Wales, registration number 11655708. The registered office is Iris Signs, 2 Stadium Place, Leicester, Leicestershire, LE4 0JS, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% straight line
Fixtures & fittings
25% straight line
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Iris Signs Ltd Notes to the Accounts for the year ended 30 November 2023
4
Tangible fixed assets
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 December 2022
10,999 
29,396 
40,395 
At 30 November 2023
10,999 
29,396 
40,395 
Depreciation
At 1 December 2022
8,250 
16,047 
24,297 
Charge for the year
2,750 
7,349 
10,099 
At 30 November 2023
11,000 
23,396 
34,396 
Net book value
At 30 November 2023
(1)
6,000 
5,999 
At 30 November 2022
2,749 
13,349 
16,098 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
- 
1,890 
Other debtors
3,110 
- 
3,110 
1,890 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
- 
1,140 
VAT
2,439 
- 
Trade creditors
1,290 
400 
Taxes and social security
4,072 
- 
Accruals
1,110 
400 
8,911 
1,940 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
44,609 
44,611 
Other creditors
112,346 
112,346 
156,955 
156,957 
8
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
9
Average number of employees
During the year the average number of employees was 3 (2022: 3).
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