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Registration number: 09864194

Signature Projects NW Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2024

 

Signature Projects NW Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Signature Projects NW Ltd

(Registration number: 09864194)
Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

3

51,791

58,704

Current assets

 

Debtors

4

91,954

97,317

Cash at bank and in hand

 

18,062

40,773

 

110,016

138,090

Creditors: Amounts falling due within one year

5

(95,947)

(106,800)

Net current assets

 

14,069

31,290

Total assets less current liabilities

 

65,860

89,994

Creditors: Amounts falling due after more than one year

5

(24,134)

(39,022)

Net assets

 

41,726

50,972

Capital and reserves

 

Called up share capital

2

2

Retained earnings

41,724

50,970

Shareholders' funds

 

41,726

50,972

 

Signature Projects NW Ltd

(Registration number: 09864194)
Balance Sheet as at 30 November 2024

For the financial 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 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 and 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 Profit and Loss Account.

Approved and authorised by the Board on 10 February 2025 and signed on its behalf by:
 

.........................................
Mr PA Johnson
Company secretary and director

.........................................
Mr IB Johnson
Director

 

Signature Projects NW Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

1

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.

Revenue recognition

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

Tangible assets

Tangible assets are stated in the balance sheet 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

20% straight line

 

Signature Projects NW Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Motor vehicles

25% straight line

Fixtures and fittings

25% straight line

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

 

Signature Projects NW Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

3

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 December 2023

2,097

7,800

79,087

88,984

Additions

992

-

8,303

9,295

At 30 November 2024

3,089

7,800

87,390

98,279

Depreciation

At 1 December 2023

1,433

1,500

27,347

30,280

Charge for the year

632

100

15,476

16,208

At 30 November 2024

2,065

1,600

42,823

46,488

Carrying amount

At 30 November 2024

1,024

6,200

44,567

51,791

At 30 November 2023

664

6,300

51,740

58,704

4

Debtors

Current

2024
£

2023
£

Trade debtors

21,853

860

Prepayments

57,593

96,457

Other debtors

12,508

-

 

91,954

97,317

 

Signature Projects NW Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

5

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

6

16,389

17,525

Trade creditors

 

29,695

24,546

Taxation and social security

 

28,058

31,797

Accruals and deferred income

 

2,475

2,100

Other creditors

 

19,330

30,832

 

95,947

106,800

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

6

24,134

39,022

6

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

6,000

12,000

Hire purchase contracts

18,134

27,022

24,134

39,022

Current loans and borrowings

2024
£

2023
£

Bank borrowings

6,000

6,000

Hire purchase contracts

10,389

11,525

16,389

17,525