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REGISTERED NUMBER: 02949875 (England and Wales)















Financial Statements for the Year Ended 30 April 2024

for

Signet (AC) Limited

Signet (AC) Limited (Registered number: 02949875)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


Signet (AC) Limited

Company Information
for the Year Ended 30 April 2024







DIRECTOR: Mr A W Foster





SECRETARY: Mrs S J Foster





REGISTERED OFFICE: 54 Chorley Road
Hilldale
Parbold
Wigan
Lancashire
WN8 7AS





REGISTERED NUMBER: 02949875 (England and Wales)





AUDITORS: Ashworth Treasure Limited
Statutory Auditors
17-19 Park Street
Lytham
Lancashire
FY8 5LU

Signet (AC) Limited (Registered number: 02949875)

Abridged Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 180,478 209,451

CURRENT ASSETS
Stocks 1,180,677 1,052,231
Debtors 2,007,257 2,121,273
Cash at bank 890,440 135,589
4,078,374 3,309,093
CREDITORS
Amounts falling due within one year 684,469 568,467
NET CURRENT ASSETS 3,393,905 2,740,626
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,574,383

2,950,077

CREDITORS
Amounts falling due after more than one
year

-

(39,454

)

PROVISIONS FOR LIABILITIES (25,401 ) (46,835 )

ACCRUALS AND DEFERRED INCOME (1,204 ) (1,456 )
NET ASSETS 3,547,778 2,862,332

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 3,546,778 2,861,332
SHAREHOLDERS' FUNDS 3,547,778 2,862,332

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 April 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 11 December 2024 and were signed by:





Mr A W Foster - Director


Signet (AC) Limited (Registered number: 02949875)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Signet (AC) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements
The financial statements contain information about Signet (AC) Limited as an individual company. As a subsidiary undertaking the financial information is included by full consolidation in the consolidated financial statements of it's ultimate parent, Computionics Group Limited, registered office address 54 Chorley Road, Hilldale, Parbold, Lancashire, WN8 7A, a company registered in England.

Related party transactions
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions as the details of the company are included in the publicly available consolidated 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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 5% on reducing balance
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 25% on reducing balance
Office equipment - 15% on reducing balance

Fixed assets are stated at purchase price (or valuation), less depreciation and amounts written off.

All assets more than 10 years old are written off.

Stocks
Cost is calculated using the average weighted method and consists of material and direct labour costs, together with an appropriate proportion of production overheads.

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.


Signet (AC) Limited (Registered number: 02949875)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 13 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 May 2023 1,001,254
Additions 59,054
At 30 April 2024 1,060,308
DEPRECIATION
At 1 May 2023 791,803
Charge for year 88,027
At 30 April 2024 879,830
NET BOOK VALUE
At 30 April 2024 180,478
At 30 April 2023 209,451

Signet (AC) Limited (Registered number: 02949875)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 May 2023
and 30 April 2024 222,114
DEPRECIATION
At 1 May 2023 89,303
Charge for year 49,414
At 30 April 2024 138,717
NET BOOK VALUE
At 30 April 2024 83,397
At 30 April 2023 132,811

5. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 39,444 39,981
Between one and five years - 39,454
39,444 79,435

Non-cancellable operating leases
2024 2023
£    £   
Within one year 96,128 93,272
Between one and five years 133,906 211,326
In more than five years - 232
230,034 304,830

6. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 39,444 79,435

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Anthony Cooney (Senior Statutory Auditor)
for and on behalf of Ashworth Treasure Limited

8. RELATED PARTY DISCLOSURES

During the year, the company paid £80,000 (2023: £80,000) in respect of rent to the trustees of the Computionics Limited Pension Fund.

Signet (AC) Limited (Registered number: 02949875)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

9. ULTIMATE PARENT COMPANY

The controlling party is Computionics Group Limited.

Computionics Group Limited is regarded by the directors as the ultimate parent company.