Silverfin false false 30/06/2024 01/07/2023 30/06/2024 Gary Daw 14/06/1995 Rachael Hunter 04/11/2022 26 March 2025 The principal activity of the Company during the financial year was that of signage. SC158649 2024-06-30 SC158649 bus:Director1 2024-06-30 SC158649 bus:Director2 2024-06-30 SC158649 2023-06-30 SC158649 core:CurrentFinancialInstruments 2024-06-30 SC158649 core:CurrentFinancialInstruments 2023-06-30 SC158649 core:Non-currentFinancialInstruments 2024-06-30 SC158649 core:Non-currentFinancialInstruments 2023-06-30 SC158649 core:ShareCapital 2024-06-30 SC158649 core:ShareCapital 2023-06-30 SC158649 core:RetainedEarningsAccumulatedLosses 2024-06-30 SC158649 core:RetainedEarningsAccumulatedLosses 2023-06-30 SC158649 core:LeaseholdImprovements 2023-06-30 SC158649 core:PlantMachinery 2023-06-30 SC158649 core:Vehicles 2023-06-30 SC158649 core:FurnitureFittings 2023-06-30 SC158649 core:OfficeEquipment 2023-06-30 SC158649 core:OtherPropertyPlantEquipment 2023-06-30 SC158649 core:LeaseholdImprovements 2024-06-30 SC158649 core:PlantMachinery 2024-06-30 SC158649 core:Vehicles 2024-06-30 SC158649 core:FurnitureFittings 2024-06-30 SC158649 core:OfficeEquipment 2024-06-30 SC158649 core:OtherPropertyPlantEquipment 2024-06-30 SC158649 bus:OrdinaryShareClass1 2024-06-30 SC158649 2023-07-01 2024-06-30 SC158649 bus:FilletedAccounts 2023-07-01 2024-06-30 SC158649 bus:SmallEntities 2023-07-01 2024-06-30 SC158649 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 SC158649 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 SC158649 bus:Director1 2023-07-01 2024-06-30 SC158649 bus:Director2 2023-07-01 2024-06-30 SC158649 core:LeaseholdImprovements 2023-07-01 2024-06-30 SC158649 core:PlantMachinery 2023-07-01 2024-06-30 SC158649 core:Vehicles 2023-07-01 2024-06-30 SC158649 core:FurnitureFittings 2023-07-01 2024-06-30 SC158649 core:OfficeEquipment 2023-07-01 2024-06-30 SC158649 core:OtherPropertyPlantEquipment core:TopRangeValue 2023-07-01 2024-06-30 SC158649 2022-07-01 2023-06-30 SC158649 core:OtherPropertyPlantEquipment 2023-07-01 2024-06-30 SC158649 core:CurrentFinancialInstruments 2023-07-01 2024-06-30 SC158649 core:Non-currentFinancialInstruments 2023-07-01 2024-06-30 SC158649 bus:OrdinaryShareClass1 2023-07-01 2024-06-30 SC158649 bus:OrdinaryShareClass1 2022-07-01 2023-06-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC158649 (Scotland)

DAW SIGNS AND FIT-OUTS LIMITED (FORMERLY DAW SIGNS LIMITED)

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH THE REGISTRAR

DAW SIGNS AND FIT-OUTS LIMITED (FORMERLY DAW SIGNS LIMITED)

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024

Contents

DAW SIGNS AND FIT-OUTS LIMITED (FORMERLY DAW SIGNS LIMITED)

BALANCE SHEET

AS AT 30 JUNE 2024
DAW SIGNS AND FIT-OUTS LIMITED (FORMERLY DAW SIGNS LIMITED)

BALANCE SHEET (continued)

AS AT 30 JUNE 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 602,726 542,195
602,726 542,195
Current assets
Stocks 130,600 130,550
Debtors 4 427,492 519,014
Cash at bank and in hand 315,880 119,810
873,972 769,374
Creditors: amounts falling due within one year 5 ( 725,424) ( 568,299)
Net current assets 148,548 201,075
Total assets less current liabilities 751,274 743,270
Creditors: amounts falling due after more than one year 6 ( 217,678) ( 171,271)
Provision for liabilities ( 118,245) ( 120,062)
Net assets 415,351 451,937
Capital and reserves
Called-up share capital 7 11,109 11,109
Profit and loss account 404,242 440,828
Total shareholder's funds 415,351 451,937

For the financial year ending 30 June 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Daw Signs and Fit-Outs Limited (formerly Daw Signs Limited) (registered number: SC158649) were approved and authorised for issue by the Board of Directors on 26 March 2025. They were signed on its behalf by:

Gary Daw
Director
DAW SIGNS AND FIT-OUTS LIMITED (FORMERLY DAW SIGNS LIMITED)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024
DAW SIGNS AND FIT-OUTS LIMITED (FORMERLY DAW SIGNS LIMITED)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Daw Signs and Fit-Outs Limited (formerly Daw Signs Limited) (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Unit 3 100 Borron Street, Port Dundas Business Park, Glasgow, G4 9XG, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

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 is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements 20 % reducing balance
Plant and machinery 20 % reducing balance
Vehicles 25 % reducing balance
Fixtures and fittings 20 % reducing balance
Office equipment 33 % reducing balance
Other property, plant and equipment 3 years straight line
Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Financial assets
An asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

For financial assets carried at amortised cost, the amount of impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Government grants

Government grants are recognised based on the performance model and are measured at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received.

A grant that specifies performance conditions is recognised in income only when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the grant proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) 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.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 28 28

3. Tangible assets

Leasehold improve-
ments
Plant and machinery Vehicles Fixtures and fittings Office equipment Other property, plant
and equipment
Total
£ £ £ £ £ £ £
Cost
At 01 July 2023 87,887 1,149,244 103,001 35,072 135,974 8,825 1,520,003
Additions 0 172,148 15,495 0 0 0 187,643
At 30 June 2024 87,887 1,321,392 118,496 35,072 135,974 8,825 1,707,646
Accumulated depreciation
At 01 July 2023 56,945 712,065 57,325 25,833 121,435 4,205 977,808
Charge for the financial year 6,182 98,955 12,387 1,848 4,798 2,942 127,112
At 30 June 2024 63,127 811,020 69,712 27,681 126,233 7,147 1,104,920
Net book value
At 30 June 2024 24,760 510,372 48,784 7,391 9,741 1,678 602,726
At 30 June 2023 30,942 437,179 45,676 9,239 14,539 4,620 542,195

4. Debtors

2024 2023
£ £
Trade debtors 418,427 437,323
Corporation tax 118 0
Other debtors 8,947 81,691
427,492 519,014

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 108,801 167,364
Corporation tax 118 37
Other taxation and social security 124,416 48,775
Obligations under finance leases and hire purchase contracts 99,027 133,918
Other creditors 393,062 218,205
725,424 568,299

Obligations under finance leases and hire purchase contracts are secured by a floating charge over the assets of to which they relate.

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Obligations under finance leases and hire purchase contracts 175,663 114,288
Other creditors 42,015 56,983
217,678 171,271

Obligations under finance leases and hire purchase contracts are secured by a floating charge over the assets of to which they relate.

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
11,109 Ordinary shares of £ 1.00 each 11,109 11,109

8. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Amounts owed to directors 42,475 2,040
Amounts owed by directors 3,950 0