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Registration number: 05710936

Total Signs And Graphics Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2024

 

Total Signs And Graphics Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 9

 

Total Signs And Graphics Limited

(Registration number: 05710936)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

76,746

146,675

Current assets

 

Stocks

5

18,000

30,000

Debtors

6

538,706

471,468

Cash at bank and in hand

 

53,308

58,252

 

610,014

559,720

Creditors: Amounts falling due within one year

7

(151,853)

(151,473)

Net current assets

 

458,161

408,247

Total assets less current liabilities

 

534,907

554,922

Creditors: Amounts falling due after more than one year

7

(27,410)

(38,023)

Provisions for liabilities

(7,427)

(16,833)

Net assets

 

500,070

500,066

Capital and reserves

 

Called up share capital

100

100

Retained earnings

499,970

499,966

Shareholders' funds

 

500,070

500,066

For the financial year ending 31 May 2024 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 17 October 2024 and signed on its behalf by:
 

 

Total Signs And Graphics Limited

(Registration number: 05710936)
Balance Sheet as at 31 May 2024

.........................................
J K Cody
Director

.........................................
Mrs Deborah Lee
Company secretary and director

 

Total Signs And Graphics Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

1

General information

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

The address of its registered office is:
Unit 7
Acorn Business Park
Birchin Way
Grimsby
DN31 2SG

These financial statements were authorised for issue by the Board on 17 October 2024.

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

The financial statements only relate to Total Signs and Graphics Limited

The financial statements are presented in sterling and rounded to the nearest pound.

Going concern

The financial statements have been prepared on a going concern basis. Specifically in connectio with the current economic climate, the directors have considered the impact on the business and they are satisfied that the company has sufficient financial headroom to continue trading for at least the next twelve months. For this reason the financial statements have been prepared on a going concern basis.

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.

Government grants

Revenue grants are recognised when the amount of the grant can be reliably measured

Capiital grants are recognised as a deferred income liability and recognised in the profit and loss account on a straight line basis over the useful life of the corresponding fixed asset.

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.

 

Total Signs And Graphics Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

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 income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position 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

Sign Production Equipment

7/20% Straight Line

Motor Vehicles

25% Reducing Balance

Fixtures and Fittings

20/33% Straight Line

Leasehold Improvements

10% Straight Line

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 merchandise sold 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.

 

Total Signs And Graphics Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable 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.

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.

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.

Dividends

Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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.

 

Total Signs And Graphics Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 13 (2023 - 15).

 

Total Signs And Graphics Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

4

Tangible assets

Land and buildings
£

Fixtures and fittings
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 June 2023

24,441

35,950

65,688

426,753

552,832

Disposals

-

(2,959)

(14,995)

(31,700)

(49,654)

At 31 May 2024

24,441

32,991

50,693

395,053

503,178

Depreciation

At 1 June 2023

13,660

31,958

38,418

322,121

406,157

Charge for the year

1,769

1,804

5,909

25,112

34,594

Eliminated on disposal

-

(2,959)

(11,360)

-

(14,319)

At 31 May 2024

15,429

30,803

32,967

347,233

426,432

Carrying amount

At 31 May 2024

9,012

2,188

17,726

47,820

76,746

At 31 May 2023

10,781

3,992

27,270

104,632

146,675

Included within the net book value of land and buildings above is £9,012 (2023 - £10,781) in respect of freehold land and buildings.
 

 

Total Signs And Graphics Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

5

Stocks

2024
£

2023
£

Raw materials and consumables

18,000

30,000

6

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

116,278

107,028

Amounts owed by related parties

9

407,085

350,684

Prepayments

 

15,343

13,756

   

538,706

471,468

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

7,622

27,338

Trade creditors

 

25,610

27,838

Taxation and social security

 

100,097

80,974

Accruals and deferred income

 

13,313

10,345

Other creditors

 

5,211

4,978

 

151,853

151,473

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £7,622 (2023 - £27,338).

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

-

7,622

Deferred income

 

27,410

30,401

 

27,410

38,023

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £nil (2023 - £7,622).

 

Total Signs And Graphics Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

8

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Hire purchase contracts

7,622

27,338

9

Related party transactions

Key management compensation

2024
£

2023
£

Salaries and other short term employee benefits

62,850

61,728

Transactions with Directors

Directors' remuneration

The Directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

62,850

61,728

Summary of transactions with parent

The parent company is Total Signs and Graphics (Holdings) Limited whose registered office address is : Unit 7, Acorn Busines Park, Birchin Way, Grimsby, DN31 2SG
 Dividends of £100,000 were paid to the parent company during the year (2023 : £100,000)