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Registered number: 06273193










LECKFORD SIGNS (NORTHAMPTON) LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
LECKFORD SIGNS (NORTHAMPTON) LTD
REGISTERED NUMBER: 06273193

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
                                                                     Note
£
£

Fixed assets
  

Tangible assets
 4 
8,062
9,999

  
8,062
9,999

Current assets
  

Stocks
 5 
2,500
2,500

Debtors: amounts falling due within one year
 6 
160,099
21,460

Cash at bank and in hand
 7 
3,216
623

  
165,815
24,583

Creditors: amounts falling due within one year
 8 
(466,844)
(408,697)

Net current liabilities
  
 
 
(301,029)
 
 
(384,114)

Total assets less current liabilities
  
(292,967)
(374,115)

Creditors: amounts falling due after more than one year
 9 
(32,167)
(40,814)

  

Net liabilities
  
(325,134)
(414,929)


Capital and reserves
  

Called up share capital 
 11 
100
100

Profit and loss account
  
(325,234)
(415,029)

  
(325,134)
(414,929)


Page 1

 
LECKFORD SIGNS (NORTHAMPTON) LTD
REGISTERED NUMBER: 06273193

BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




M J Meadowcroft
Director

Date: 5 February 2025

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
LECKFORD SIGNS (NORTHAMPTON) LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Leckford Signs (Northampton) Ltd is a limited liability company incorporated in England and Wales. The address of its registered office is Reading Bridge House, George Street, Reading, Berkshire, RG1 8LS. 
The principal activity of the company continues to be that of a sign maker.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

 
2.2

Going concern

As shown by the financial statements the liabilities of the Company exceed its assets and the Company meets its day to day working capital requirements through financial support from its Directors and their related companies. The loans to the Company will not be called in by the Directors until the Company has sufficient funds to repay them.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable for services during the year, excluding discounts, rebates, value added tax and other sales taxes. 

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
LECKFORD SIGNS (NORTHAMPTON) LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


 
2.7

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
reducing balance
Motor vehicles
-
25%
reducing balance
Fixtures and fittings
-
20%
reducing balance
Computer equipment
-
25%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

Page 4

 
LECKFORD SIGNS (NORTHAMPTON) LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.


3.


Employees

The average monthly number of employees, including directors, during the year was 5 (2022 - 5).

Page 5

 
LECKFORD SIGNS (NORTHAMPTON) LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Computer equipment
Total

£
£
£
£
£



Cost or valuation


At 1 January 2023
43,840
11,400
43,767
39,654
138,661


Additions
-
-
120
1,541
1,661


Disposals
-
-
-
(4,224)
(4,224)



At 31 December 2023

43,840
11,400
43,887
36,971
136,098



Depreciation


At 1 January 2023
41,784
10,733
41,902
34,243
128,662


Charge for the year on owned assets
411
167
496
2,524
3,598


Disposals
-
-
-
(4,224)
(4,224)



At 31 December 2023

42,195
10,900
42,398
32,543
128,036



Net book value



At 31 December 2023
1,645
500
1,489
4,428
8,062



At 31 December 2022
2,056
667
1,865
5,411
9,999


5.


Stocks

2023
2022
£
£

Finished goods and goods for resale
2,500
2,500



6.


Debtors

2023
2022
£
£


Trade debtors
92,793
17,131

Other debtors
66,737
4,028

Prepayments and accrued income
569
301

160,099
21,460


Page 6

 
LECKFORD SIGNS (NORTHAMPTON) LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
3,216
623

Less: bank overdrafts
-
(1,346)

3,216
(723)



8.


Creditors: amounts falling due within one year

2023
2022
£
£

Bank overdrafts
-
1,346

Bank loans
10,000
10,000

Trade creditors
109,177
82,882

Other taxation and social security
19,410
6,674

Other creditors
324,557
304,715

Accruals and deferred income
3,700
3,080

466,844
408,697


The bank overdraft is secured by a fixed and floating charge over all assets of the company.


9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
32,167
40,814


Page 7

 
LECKFORD SIGNS (NORTHAMPTON) LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
10,000
10,000


10,000
10,000

Amounts falling due 1-2 years

Bank loans
10,000
10,000


10,000
10,000

Amounts falling due 2-5 years

Bank loans
22,167
30,814


22,167
30,814


42,167
50,814



11.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £1.00 each
100
100



12.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £1,193 (2022 - £891).
Contributions totalling £3,445 (2023 - £263) were payable to the fund by the Company at the balance sheet date and are included in creditors.

Page 8

 
LECKFORD SIGNS (NORTHAMPTON) LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

13.


Commitments under operating leases

At 31 December 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
20,000
20,000

Later than 1 year and not later than 5 years
80,000
80,000

Later than 5 years
-
20,000

100,000
120,000


14.


Related party transactions

During the period the Company was charged £25,428 (2022 - £17,033) in respect of management fees from  Brandmasters Limited, a company in which M J Meadowcroft is a director. The amount owing from Brandmasters Limited at the period end was £66,737 (2022 - £4,028 due to Brandmasters Limited disclosed within other creditors) and is disclosed within other debtors.  
At 31 December 2023 directors loans repayable by the Company were £201,657 (2022 - £216,852) and are shown within other creditors. No interest is being charged on the amount owing, the loan is without security and there are no set repayment dates or amounts.
During the period the Company paid £1,389 (2022 - £16,667) relating to rent of the premises to the company pension scheme.


15.


Controlling party

The ultimate controlling parties are M J Meadowcroft and E M Meadowcroft by virtue of a joint shareholding.


Page 9