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COMPANY REGISTRATION NUMBER: 02207061
SIGNWORLD SCREEN PRINTERS LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
30 November 2024
SIGNWORLD SCREEN PRINTERS LIMITED
STATEMENT OF FINANCIAL POSITION
30 November 2024
2024
2023
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
177,803
152,096
CURRENT ASSETS
Stocks
33,772
40,947
Debtors
6
26,036
15,368
Cash at bank and in hand
56,475
6,834
---------
--------
116,283
63,149
CREDITORS: amounts falling due within one year
7
157,650
102,338
---------
---------
NET CURRENT LIABILITIES
41,367
39,189
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
136,436
112,907
CREDITORS: amounts falling due after more than one year
8
45,666
27,515
PROVISIONS
14,539
5,528
---------
---------
NET ASSETS
76,231
79,864
---------
---------
CAPITAL AND RESERVES
Called up share capital fully paid
57,100
57,100
Capital redemption reserve
18,000
18,000
Profit and loss account
1,131
4,764
--------
--------
SHAREHOLDERS FUNDS
76,231
79,864
--------
--------
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 November 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 .
SIGNWORLD SCREEN PRINTERS LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
30 November 2024
These financial statements were approved by the board of directors and authorised for issue on 13 February 2025 , and are signed on behalf of the board by:
Mr S Button
Director
Company registration number: 02207061
SIGNWORLD SCREEN PRINTERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 NOVEMBER 2024
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 7, Adams Business Centre, Henson Way, Kettering, NN16 8PX, England.
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 at fair value through profit or loss.
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.
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.
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:
Freehold property
-
2% straight line
Plant and machinery
-
20% straight line
Motor vehicles
-
25% reducing balance
Computer equipment
-
20% 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.
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 statement of financial position 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.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.
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.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 7 (2023: 6 ).
5. TANGIBLE ASSETS
Freehold property
Plant and machinery
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1 December 2023
150,000
215,444
6,389
371,833
Additions
28,240
19,094
4,193
51,527
Disposals
( 154,055)
( 4,354)
( 158,409)
---------
---------
--------
-------
---------
At 30 November 2024
150,000
89,629
19,094
6,228
264,951
---------
---------
--------
-------
---------
Depreciation
At 1 December 2023
27,000
187,792
4,945
219,737
Charge for the year
3,000
15,795
4,774
1,124
24,693
Disposals
( 153,614)
( 3,668)
( 157,282)
---------
---------
--------
-------
---------
At 30 November 2024
30,000
49,973
4,774
2,401
87,148
---------
---------
--------
-------
---------
Carrying amount
At 30 November 2024
120,000
39,656
14,320
3,827
177,803
---------
---------
--------
-------
---------
At 30 November 2023
123,000
27,652
1,444
152,096
---------
---------
--------
-------
---------
6. DEBTORS
2024
2023
£
£
Trade debtors
26,036
14,057
Other debtors
1,311
--------
--------
26,036
15,368
--------
--------
7. CREDITORS: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
10,000
11,139
Trade creditors
67,439
45,912
Social security and other taxes
24,840
15,071
Other creditors
55,371
30,216
---------
---------
157,650
102,338
---------
---------
Included within other creditors are amounts totalling £12,419 (2023 - £4,641) relating to hire purchase and finance lease agreements which are secured by the company.
8. CREDITORS: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
5,834
15,833
Other creditors
39,832
11,682
--------
--------
45,666
27,515
--------
--------
Included within other creditors are amounts totalling £39,832 (2023 - £11,682) relating to hire purchase and finance lease agreements which are secured by the company.