8 false false false false false false false false false false true false false false false false false No description of principal activity 2023-05-01 Sage Accounts Production Advanced 2023 - FRS102_2023 222,300 172,300 10,000 182,300 40,000 50,000 xbrli:pure xbrli:shares iso4217:GBP NI062514 2023-05-01 2024-04-30 NI062514 2024-04-30 NI062514 2023-04-30 NI062514 2022-05-01 2023-04-30 NI062514 2023-04-30 NI062514 2022-04-30 NI062514 core:PlantMachinery 2023-05-01 2024-04-30 NI062514 core:FurnitureFittings 2023-05-01 2024-04-30 NI062514 core:MotorVehicles 2023-05-01 2024-04-30 NI062514 bus:Director1 2023-05-01 2024-04-30 NI062514 core:NetGoodwill 2023-04-30 NI062514 core:NetGoodwill 2024-04-30 NI062514 core:PlantMachinery 2023-04-30 NI062514 core:FurnitureFittings 2023-04-30 NI062514 core:MotorVehicles 2023-04-30 NI062514 core:PlantMachinery 2024-04-30 NI062514 core:FurnitureFittings 2024-04-30 NI062514 core:MotorVehicles 2024-04-30 NI062514 core:WithinOneYear 2024-04-30 NI062514 core:WithinOneYear 2023-04-30 NI062514 core:ShareCapital 2024-04-30 NI062514 core:ShareCapital 2023-04-30 NI062514 core:RetainedEarningsAccumulatedLosses 2024-04-30 NI062514 core:RetainedEarningsAccumulatedLosses 2023-04-30 NI062514 core:NetGoodwill 2023-05-01 2024-04-30 NI062514 core:NetGoodwill 2023-04-30 NI062514 core:PlantMachinery 2023-04-30 NI062514 core:FurnitureFittings 2023-04-30 NI062514 core:MotorVehicles 2023-04-30 NI062514 bus:SmallEntities 2023-05-01 2024-04-30 NI062514 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 NI062514 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 NI062514 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 NI062514 bus:FullAccounts 2023-05-01 2024-04-30 NI062514 core:ComputerEquipment 2023-05-01 2024-04-30 NI062514 core:ComputerEquipment 2023-04-30 NI062514 core:ComputerEquipment 2024-04-30
COMPANY REGISTRATION NUMBER: NI062514
Signs Of The Times Ireland Ltd
Filleted Unaudited Financial Statements
30 April 2024
Signs Of The Times Ireland Ltd
Balance Sheet
30 April 2024
2024
2023
Note
£
£
£
Fixed assets
Intangible assets
5
40,000
50,000
Tangible assets
6
120,366
89,474
---------
---------
160,366
139,474
Current assets
Stocks
6,000
5,000
Debtors
7
165,638
163,525
Cash at bank and in hand
176,744
179,022
---------
---------
348,382
347,547
Creditors: amounts falling due within one year
8
142,501
153,668
---------
---------
Net current assets
205,881
193,879
---------
---------
Total assets less current liabilities
366,247
333,353
Provisions
Taxation including deferred tax
30,091
17,000
---------
---------
Net assets
336,156
316,353
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
336,056
316,253
---------
---------
Shareholders funds
336,156
316,353
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 April 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Signs Of The Times Ireland Ltd
Balance Sheet (continued)
30 April 2024
These financial statements were approved by the board of directors and authorised for issue on 29 January 2025 , and are signed on behalf of the board by:
David Cleland
Director
Company registration number: NI062514
Signs Of The Times Ireland Ltd
Notes to the Financial Statements
Year ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 66 Hillsborough Road, Moneyrea, Co Down, BT23 6AY.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There are no judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies that have a significant effect on the amounts recognised in the financial statements. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. There are no key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year .
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
Over 20 years and 5 years
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant & machinery
-
20% reducing balance
Fixtures & fittings
-
20% reducing balance
Motor vehicles
-
25% reducing balance
Computers
-
33% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units .
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the balance sheet and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares .
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 8 (2023: 9 ).
5. Intangible assets
Goodwill
£
Cost
At 1 May 2023 and 30 April 2024
222,300
---------
Amortisation
At 1 May 2023
172,300
Charge for the year
10,000
---------
At 30 April 2024
182,300
---------
Carrying amount
At 30 April 2024
40,000
---------
At 30 April 2023
50,000
---------
6. Tangible assets
Plant and machinery
Fixtures and fittings
Motor vehicles
Computers
Total
£
£
£
£
£
Cost
At 1 May 2023
116,053
8,425
108,198
3,339
236,015
Additions
13,000
47,444
60,444
Disposals
( 6,375)
( 6,375)
---------
-------
---------
-------
---------
At 30 April 2024
122,678
8,425
155,642
3,339
290,084
---------
-------
---------
-------
---------
Depreciation
At 1 May 2023
67,274
7,737
68,191
3,339
146,541
Charge for the year
11,648
138
17,416
29,202
Disposals
( 6,025)
( 6,025)
---------
-------
---------
-------
---------
At 30 April 2024
72,897
7,875
85,607
3,339
169,718
---------
-------
---------
-------
---------
Carrying amount
At 30 April 2024
49,781
550
70,035
120,366
---------
-------
---------
-------
---------
At 30 April 2023
48,779
688
40,007
89,474
---------
-------
---------
-------
---------
7. Debtors
2024
2023
£
£
Trade debtors
160,218
155,417
Other debtors
5,420
8,108
---------
---------
165,638
163,525
---------
---------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
38,993
31,853
Corporation tax
43,818
34,511
Social security and other taxes
17,975
19,407
Other creditors
41,715
67,897
---------
---------
142,501
153,668
---------
---------
9. Financial instruments
The carrying amount for each category of financial instrument is as follows:
2024
2023
£
£
Financial assets measured at fair value through profit or loss
Financial assets measured at fair value through profit or loss
176,744
179,022
---------
---------