Company registration number 06523147 (England and Wales)
WESTBURY SIGNS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
WESTBURY SIGNS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
WESTBURY SIGNS LIMITED (REGISTERED NUMBER: 06523147)
BALANCE SHEET
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
52,466
66,416
Current assets
Stocks
17,857
18,797
Debtors
4
67,496
48,442
Cash at bank and in hand
2,177
34,726
87,530
101,965
Creditors: amounts falling due within one year
5
(132,064)
(142,928)
Net current liabilities
(44,534)
(40,963)
Total assets less current liabilities
7,932
25,453
Creditors: amounts falling due after more than one year
6
(24,992)
(49,899)
Net liabilities
(17,060)
(24,446)
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
(17,062)
(24,448)
Total equity
(17,060)
(24,446)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
WESTBURY SIGNS LIMITED (REGISTERED NUMBER: 06523147)
BALANCE SHEET (CONTINUED)
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 26 February 2025
B Relf
Director
WESTBURY SIGNS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 3 -
1
Accounting policies
Company information
Westbury Signs Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit G Altbarn Industrial Estate, 17 Revenge Road, Chatham, Kent, ME5 8UD.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Turnover form a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
The amount of turnover can be measured reliably
It is probable that the company will receive the consideration due under the contract
The stage of completion of the contract at the end of the reporting period can be measured reliably
The costs incurred and the costs to complete the contract can be measured reliably
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery
25% on reducing balance
Fixtures, fittings & equipment
25% on reducing balance
Computer equipment
25% on reducing balance
Motor vehicles
25% on reducing balance
WESTBURY SIGNS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 4 -
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
1.6
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
5
5
3
Tangible fixed assets
Plant and machinery
Fixtures, fittings & equipment
Computer equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 July 2023
218,778
4,083
22,939
13,000
258,800
Additions
1,302
1,729
3,031
At 30 June 2024
218,778
5,385
24,668
13,000
261,831
Depreciation and impairment
At 1 July 2023
172,894
3,518
14,076
1,896
192,384
Depreciation charged in the year
11,471
196
2,538
2,776
16,981
At 30 June 2024
184,365
3,714
16,614
4,672
209,365
Carrying amount
At 30 June 2024
34,413
1,671
8,054
8,328
52,466
At 30 June 2023
45,884
565
8,863
11,104
66,416
WESTBURY SIGNS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 5 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
56,081
47,242
Other debtors
11,415
1,200
67,496
48,442
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
10,006
9,724
Trade creditors
44,614
44,268
Taxation and social security
17,627
10,239
Other creditors
59,817
78,697
132,064
142,928
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
9,915
20,226
Other creditors
15,077
29,673
24,992
49,899
7
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2024
2023
£
£
10,558
15,083