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Registration number: 05691541

Complete Sign Solutions Limited
 

Annual Report and Unaudited Financial Statements- Companies house filing

for the Year Ended 31 May 2024

 

Complete Sign Solutions Limited

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Complete Sign Solutions Limited

(Registration number: 05691541)
Statement of Financial Position as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

1

1

Tangible assets

5

38,712

51,060

Other financial assets

6

284,600

284,600

 

323,313

335,661

Current assets

 

Stocks

7

8,500

6,000

Debtors

8

169,958

162,470

Cash at bank and in hand

 

719,728

678,935

 

898,186

847,405

Creditors: Amounts falling due within one year

9

(180,350)

(187,193)

Net current assets

 

717,836

660,212

Total assets less current liabilities

 

1,041,149

995,873

Provisions for liabilities

(9,678)

(12,765)

Net assets

 

1,031,471

983,108

Capital and reserves

 

Called up share capital

1,000

1,000

Profit and loss account

1,030,471

982,108

Shareholders' funds

 

1,031,471

983,108

 

Complete Sign Solutions Limited

(Registration number: 05691541)
Statement of Financial Position as at 31 May 2024

For the financial 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.

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 provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

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 Income Statement.

Approved and authorised by the Board on 27 February 2025 and signed on its behalf by:
 

.........................................
Mr S A Campbell
Director

 

Complete Sign Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 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: Knoll House, Knoll Road, Camberley, Surrey, GU15 3SY, England.

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of 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.

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.

 

Complete Sign Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Tangible assets

Tangible assets are stated in the statement of financial position 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

Plant and machinery

25% reducing balance

Fixtures and fittings

25% reducing balance

Motor vehicles

25% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10 years

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 debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and bank deposits.

Trade creditors

Short term creditors are measured at the transaction price.

 

Complete Sign Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

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.

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.

Employee benefits

Short-term employee benefits are recognised as an expense in the period which they are incurred.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from banks and other third parties, and loans to related parties.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2023 - 6).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 June 2023

75,000

75,000

At 31 May 2024

75,000

75,000

Amortisation

At 1 June 2023

74,999

74,999

At 31 May 2024

74,999

74,999

Carrying amount

At 31 May 2024

1

1

At 31 May 2023

1

1

 

Complete Sign Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

5

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 June 2023

22,491

162,997

41,755

227,243

Additions

609

-

-

609

Disposals

-

(3,960)

-

(3,960)

At 31 May 2024

23,100

159,037

41,755

223,892

Depreciation

At 1 June 2023

20,162

128,367

27,654

176,183

Charge for the year

735

8,645

3,525

12,905

Eliminated on disposal

-

(3,908)

-

(3,908)

At 31 May 2024

20,897

133,104

31,179

185,180

Carrying amount

At 31 May 2024

2,203

25,933

10,576

38,712

At 31 May 2023

2,329

34,630

14,101

51,060

6

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Non-current financial assets

Cost or valuation

At 1 June 2023

284,600

284,600

At 31 May 2024

284,600

284,600

Impairment

Carrying amount

At 31 May 2024

284,600

284,600

7

Stocks

2024
£

2023
£

Other inventories

8,500

6,000

 

Complete Sign Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

8

Debtors

2024
£

2023
£

Trade debtors

150,590

142,261

Other debtors

5,860

6,805

Prepayments

13,508

13,404

169,958

162,470

9

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Trade creditors

25,294

41,588

Taxation and social security

106,876

91,922

Accruals and deferred income

5,163

4,788

Other creditors

43,017

48,895

180,350

187,193