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Registration number: 03152236

Scanlite Visual Communications Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Scanlite Visual Communications Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 12

 

Scanlite Visual Communications Limited

Company Information

Directors

Mr D Carter

Mrs A Carter

Mr A Carter

Mrs A C Mason

Mr A J Wrapson

Company secretary

Mrs A Carter

Registered office

Unit 1 - 1HQ
Kincraig Business Park
Kincraig Road
Blackpool
Lancashire
FY2 0PJ

Accountants

Crossley & Davis Chartered Accountants
Ground Floor, Seneca House
Links Point, Amy Johnson Way
Blackpool
Lancashire
FY4 2FF

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Scanlite Visual Communications Limited
for the Year Ended 30 April 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Scanlite Visual Communications Limited for the year ended 30 April 2024 as set out on pages 3 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 Scanlite Visual Communications Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Scanlite Visual Communications Limited and state those matters that we have agreed to state to the Board of Directors of Scanlite Visual Communications 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 Scanlite Visual Communications Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Scanlite Visual Communications 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 Scanlite Visual Communications Limited. You consider that Scanlite Visual Communications 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 Scanlite Visual Communications 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.

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

Crossley & Davis Chartered Accountants
Ground Floor, Seneca House
Links Point, Amy Johnson Way
Blackpool
Lancashire
FY4 2FF

31 January 2025

 

Scanlite Visual Communications Limited

(Registration number: 03152236)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,928,366

1,926,856

Current assets

 

Stocks

5

320,000

400,000

Debtors

6

153,217

268,874

Cash at bank and in hand

 

597,117

844,539

 

1,070,334

1,513,413

Creditors: Amounts falling due within one year

7

(826,936)

(1,121,909)

Net current assets

 

243,398

391,504

Total assets less current liabilities

 

2,171,764

2,318,360

Creditors: Amounts falling due after more than one year

7

(293,015)

(470,596)

Provisions for liabilities

(256,567)

(256,619)

Net assets

 

1,622,182

1,591,145

Capital and reserves

 

Called up share capital

8

224

224

Retained earnings

1,621,958

1,590,921

Shareholders' funds

 

1,622,182

1,591,145

For the financial 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 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.

 

Scanlite Visual Communications Limited

(Registration number: 03152236)
Balance Sheet as at 30 April 2024

Approved and authorised by the Board on 31 January 2025 and signed on its behalf by:
 

.........................................
Mr D Carter
Director

 

Scanlite Visual Communications Limited

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

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:
Unit 1 - 1HQ
Kincraig Business Park
Kincraig Road
Blackpool
Lancashire
FY2 0PJ
England

These financial statements were authorised for issue by the Board on 31 January 2025.

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.

Going concern

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.

 

Scanlite Visual Communications Limited

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

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

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

Freehold property

2% straight line

Leasehold property

2% straight line

Plant and machinery

25% reducing balance

Fixtures and fittings

25% reducing balance

Motor vehicles

25% reducing balance

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.

 

Scanlite Visual Communications Limited

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

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.

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.

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.

 

Scanlite Visual Communications Limited

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

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 40 (2023 - 38).

 

Scanlite Visual Communications Limited

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

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other property, plant and equipment
 £

Total
£

Cost or valuation

At 1 May 2023

1,755,891

195,127

432,378

525,163

2,908,559

Additions

-

-

70,880

49,220

120,100

At 30 April 2024

1,755,891

195,127

503,258

574,383

3,028,659

Depreciation

At 1 May 2023

183,814

175,325

199,514

423,050

981,703

Charge for the year

35,118

4,950

44,713

33,809

118,590

At 30 April 2024

218,932

180,275

244,227

456,859

1,100,293

Carrying amount

At 30 April 2024

1,536,959

14,852

259,031

117,524

1,928,366

At 30 April 2023

1,572,077

19,802

232,864

102,113

1,926,856

Included within the net book value of land and buildings above is £1,253,473 (2023 - £1,281,016) in respect of freehold land and buildings and £283,486 (2023 - £291,061) in respect of long leasehold land and buildings.
 

 

Scanlite Visual Communications Limited

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

5

Stocks

2024
£

2023
£

Other inventories

320,000

400,000

6

Debtors

Current

2024
£

2023
£

Trade debtors

75,812

25,010

Prepayments

7,532

9,560

Other debtors

69,873

234,304

 

153,217

268,874

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

191,262

187,318

Trade creditors

 

251,099

478,574

Taxation and social security

 

239,891

336,906

Accruals and deferred income

 

103,626

88,739

Other creditors

 

41,058

30,372

 

826,936

1,121,909

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £191,261 (2023 - £187,318).

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

293,015

470,596

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £293,015 (2023 - £470,596).

 

Scanlite Visual Communications Limited

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

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

200

200

200

200

Ordinary class A shares of £1 each

24

24

24

24

224

224

224

224

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

213,333

373,331

Hire purchase contracts

79,682

97,265

293,015

470,596

Current loans and borrowings

2024
£

2023
£

Bank borrowings

160,000

160,002

Hire purchase contracts

31,262

27,316

191,262

187,318

10

Related party transactions

Loans to related parties

2024

Key management
£

Total
£

At start of period

207,975

207,975

Advanced

69,872

69,872

Repaid

(207,975)

(207,975)

At end of period

69,872

69,872

 

Scanlite Visual Communications Limited

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

2023

Key management
£

Total
£

At start of period

215,613

215,613

Advanced

208,362

208,362

Repaid

(216,000)

(216,000)

At end of period

207,975

207,975

Terms of loans to related parties

Loans to directors are unsecured, repayable on demand, and interest is charged at the official rate on any balance that exceeds £10,000 throughout the year.