Company Registration No. 08514112 (England and Wales)
Signs & Imaging (South East) Ltd
Unaudited accounts
for the year ended 31 May 2024
Signs & Imaging (South East) Ltd
Company Information
for the year ended 31 May 2024
Company Number
08514112 (England and Wales)
Registered Office
Unit 4 Invicta Business Centre
Bredgar Road
Gillingham
Kent
ME8 6PG
Signs & Imaging (South East) Ltd
Statement of financial position
as at 31 May 2024
Tangible assets
103,939
82,982
Inventories
47,139
121,348
Cash at bank and in hand
124,243
80,563
Creditors: amounts falling due within one year
(79,532)
(64,169)
Net current assets
126,888
155,279
Total assets less current liabilities
230,827
238,261
Creditors: amounts falling due after more than one year
(50,019)
(58,667)
Provisions for liabilities
Deferred tax
(16,368)
(19,662)
Net assets
164,440
159,932
Called up share capital
100
100
Profit and loss account
164,340
159,832
Shareholders' funds
164,440
159,932
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 12 February 2025 and were signed on its behalf by
Dean Johnson
Director
Company Registration No. 08514112
Signs & Imaging (South East) Ltd
Notes to the Accounts
for the year ended 31 May 2024
Signs & Imaging (South East) Ltd is a private company, limited by shares, registered in England and Wales, registration number 08514112. The registered office is Unit 4 Invicta Business Centre, Bredgar Road, Gillingham, Kent, ME8 6PG.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern. The company has therefore continued to adopt the going concern basis of accounting in the preparation of these financial statements.
Revenue, described as turnover, is the value of good provided to customers during the year, plus the value of work performed with respect to services, net of discounts and value added taxes.
Revenue is recognised on the sale of goods when the goods are delivered and title has passed. Revenue is recognised on the provision of services on a percentage degree of completion basis, calculated by reference to the time expended compared to the total anticipated time.
The company operates a defined contribution scheme for the benefit of its employees. The assets of the scheme are held separately from those of the company in independently administered funds. The pension costs charge represents contributions payable for the period by the company to the fund.
Government grants are recognised under the accrual model meaning that grants relating to revenue shall be recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate.
Intangible assets are amortised on a straight line basis over a useful economic life of 4 years.
Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost less estimated residual
value, of each asset evenly over its expected useful life, as follows:
Plant & machinery
25% per annum straight line
Motor vehicles
33% per annum straight line
Fixtures & fittings
20% per annum straight line
Signs & Imaging (South East) Ltd
Notes to the Accounts
for the year ended 31 May 2024
Rentals applicable to operating leases, where substantially all of the benefits and risks of ownership remain with the lessor, are charged against profits on a straight-line basis over the period of the lease.
Where assets are financed by leasing agreements that give rights approximating to ownership (finance leases) the assets are treated as if they had been purchased outright. The amount capitalised is the fair value of the asset concerned.
The corresponding liability to the leasing company is included as an obligation under finance leases. Depreciation is charged to the profit and loss account over the shorter of the lease term and their useful lives. Leasing payments are treated as consisting
of capital and interest elements, and interest is charged to the profit and loss account on a straight line basis which is considered to be a reasonable approximation to a constant rate of charge on the outstanding balance.
Financial instruments are classified by the directors as basic or advanced following the conditions in FRS 102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method.
Stocks is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes any expenditure incurred in bringing the stock to its present location and condition. A "first in first out" basis is used. Borrowing costs are not capitalised. Where consignment stock is in substance an asset of the company, it is recognised as such on the balance sheet.
Deferred tax has been provided in full in respect of taxation deferred by timing differences (including fair value adjustments) between the treatment of certain items for taxation and accounting purposes except that a deferred tax asset is only recognised to the extent that it is recoverable. Deferred tax is measured using the tax rate that is expected to apply in the periods in which the timing differences are expected to reverse.
4
Intangible fixed assets
Goodwill
Signs & Imaging (South East) Ltd
Notes to the Accounts
for the year ended 31 May 2024
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 June 2023
119,315
43,999
5,000
168,314
Additions
11,546
-
39,099
50,645
Disposals
(1,710)
-
(5,000)
(6,710)
At 31 May 2024
129,151
43,999
39,099
212,249
At 1 June 2023
74,668
6,039
4,625
85,332
Charge for the year
12,982
11,359
4,735
29,076
On disposals
(1,450)
-
(4,648)
(6,098)
At 31 May 2024
86,200
17,398
4,712
108,310
At 31 May 2024
42,951
26,601
34,387
103,939
At 31 May 2023
44,647
37,960
375
82,982
Amounts falling due within one year
Trade debtors
31,725
14,408
Accrued income and prepayments
-
3,129
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
7,232
9,167
Obligations under finance leases and hire purchase contracts
4,295
4,229
Trade creditors
14,192
11,340
Taxes and social security
37,169
18,251
Other creditors
14,694
21,065
Loans from directors
-
117
8
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
13,254
17,834
Signs & Imaging (South East) Ltd
Notes to the Accounts
for the year ended 31 May 2024
The company operates a defined contribution scheme for its employees. At the balance sheet date, unpaid contributions of £490 (2023: £444) were due to the fund. These are included in other creditors.
10
Operating lease commitments
2024
2023
At 31 May 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
45,720
-
Later than one year and not later than five years
162,270
-
11
Transactions with related parties
At the balance sheet date, the director owed the company £3,313 (2023: £0). The amount due, included in other debtors, is unsecured, repayable on demand and is not chargeable to interest.
12
Average number of employees
During the year the average number of employees was 5 (2023: 6).