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COMPANY REGISTRATION NUMBER: 01938493
Signbox Limited
Filleted Unaudited Financial Statements
Year ended
31 October 2024
Signbox Limited
Financial Statements
Year ended 31 October 2024
Contents
Pages
Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements
1
Statement of financial position
2 to 3
Accounting policies
4 to 6
Notes to the financial statements
7 to 8
Signbox Limited
Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Signbox Limited
Year ended 31 October 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Signbox Limited for the year ended 31 October 2024, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of Signbox Limited, as a body. Our work has been undertaken solely to prepare for your approval the financial statements of Signbox Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Signbox Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that Signbox Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Signbox Limited. You consider that Signbox Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Signbox Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
PORTER GARLAND Chartered accountants
Communication House Victoria Avenue Camberley Surrey GU15 3HX
15 April 2025
Signbox Limited
Statement of Financial Position
31 October 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
4
581,227
640,224
Current assets
Stocks
309,754
310,390
Debtors
5
649,818
1,235,932
Cash at bank and in hand
815,071
834,715
------------
------------
1,774,643
2,381,037
Creditors: amounts falling due within one year
6
727,136
781,642
------------
------------
Net current assets
1,047,507
1,599,395
------------
------------
Total assets less current liabilities
1,628,734
2,239,619
Creditors: amounts falling due after more than one year
7
213,508
297,889
Provisions
136,919
151,133
------------
------------
Net assets
1,278,307
1,790,597
------------
------------
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss account
1,277,307
1,789,597
------------
------------
Shareholders funds
1,278,307
1,790,597
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 31 October 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Signbox Limited
Statement of Financial Position (continued)
31 October 2024
These financial statements were approved by the board of directors and authorised for issue on 15 April 2025 , and are signed on behalf of the board by:
Mr M Bartlett
Director
Company registration number: 01938493
Signbox Limited
Accounting Policies
Year ended 31 October 2024
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in the profit and loss account. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in the profit and loss account.
Revenue recognition
Turnover comprises the value of sales (net of VAT, similar taxes and trade discounts) of goods and services provided in the normal course of business. Turnover is recognised by reference to the invoice date as this is the point at which the risks and rewards pass to the customer.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
10% to 20% straight line
Motor vehicles
-
20% straight line
Equipment
-
20% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Signbox Limited
Notes to the Financial Statements
Year ended 31 October 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 3 Egham Business Village, Crabtree Road, Egham, Surrey, TW20 8RG.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Employee numbers
The average number of persons employed by the company during the year amounted to 40 (2023: 42 ).
4. Tangible assets
Plant and machinery
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 November 2023
903,536
159,054
394,862
1,457,452
Additions
45,134
13,102
58,236
Disposals
( 59,250)
( 59,250)
---------
---------
---------
------------
At 31 October 2024
903,536
144,938
407,964
1,456,438
---------
---------
---------
------------
Depreciation
At 1 November 2023
390,112
62,071
365,045
817,228
Charge for the year
70,063
18,794
11,702
100,559
Disposals
( 42,576)
( 42,576)
---------
---------
---------
------------
At 31 October 2024
460,175
38,289
376,747
875,211
---------
---------
---------
------------
Carrying amount
At 31 October 2024
443,361
106,649
31,217
581,227
---------
---------
---------
------------
At 31 October 2023
513,424
96,983
29,817
640,224
---------
---------
---------
------------
5. Debtors
2024
2023
£
£
Trade debtors
521,516
1,103,184
Other debtors
128,302
132,748
---------
------------
649,818
1,235,932
---------
------------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
442,865
423,145
Social security and other taxes
120,697
151,060
Other creditors
163,574
207,437
---------
---------
727,136
781,642
---------
---------
7. Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
213,508
297,889
---------
---------
8. Other financial commitments
The company had total guarantees and commitments at the year end of £308,416 (2023: £478,794).