Registrar
Registration number:
Signs 'N' Such Ltd
for the Year Ended 31 August 2024
Signs 'N' Such Ltd
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Signs 'N' Such Ltd
Company Information
Directors |
G Marshall |
Registered office |
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Bankers |
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Accountants |
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Signs 'N' Such Ltd
(Registration number: 13546140)
Balance Sheet as at 31 August 2024
Note |
2024 |
(As restated) |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets/(liabilities) |
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( |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
3 |
3 |
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Revaluation reserve |
37,987 |
- |
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Retained earnings |
39,171 |
4,528 |
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Shareholders' funds |
77,161 |
4,531 |
For the financial year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
Director
Signs 'N' Such Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024
General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
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.
These financial statements are presented in Sterling (£), which is the company's functional currency.
Signs 'N' Such Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024
Prior period errors
During the preparation of the accounts fixed assets amounting to £17,907 were identified as having been purchased personally by the director and omitted from the prior years financial statements. After adjusting for depreciation, deferred tax and the reduction in corporation tax, the effect on the headline figures in the Balance Sheet for the prior periods are below:
Relating to the prior period disclosed in these financial statements | Relating to periods before the prior period disclosed in these financial statements | ||
Fixed assets (NBV) | 14,178 | 5,594 | |
Debtors | (5,528) | - | |
Creditors | (10,808) | (5,594) | |
Provisions for liabilities | (1,405) | - | |
Profit and loss account | 3,563 | - | |
The impact of the adjustments had resulted in a reduction to net assets of £3,563 as at 31 August 2023.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of signage and printing 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
Current Tax is recognised in the profit and loss account, 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 on material temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Signs 'N' Such Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024
Tangible assets
Tangible assets are stated in the statement of financial position at cost or valuation less any subsequent accumulated depreciation.
Depreciation
Depreciation is charged so as to write off the cost or valuation of assets over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Office equipment |
33% Straight line method |
Plant and machinery |
10%, 20% and 25% Straight line method |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Leases
Leases in which substantially all the risks and rewards of the ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to the profit and loss on a straight line basis over the period of the lease.
Share capital
Ordinary shares are classified as equity.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Signs 'N' Such Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024
Tangible assets |
Office equipment |
Plant and machinery |
Total |
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Cost or valuation |
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At 1 September 2023 |
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Revaluations |
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Additions |
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Disposals |
( |
- |
( |
At 31 August 2024 |
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Depreciation |
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At 1 September 2023 |
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Charge for the year |
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Eliminated on disposal |
( |
- |
( |
At 31 August 2024 |
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Carrying amount |
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At 31 August 2024 |
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At 31 August 2023 |
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Stocks |
2024 |
2023 |
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Stock held for resale |
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Debtors |
2024 |
(As restated) |
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Trade debtors |
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Other debtors |
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Signs 'N' Such Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024
Creditors |
Creditors: amounts falling due within one year
Note |
2024 |
(As restated) |
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Due within one year |
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Loans and borrowings |
- |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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Accruals and deferred income |
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- |
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Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
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No. |
£ |
No. |
£ |
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3 |
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3 |
Reserves |
The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:
Revaluation reserve |
Total |
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Surplus on property, plant and equipment revaluation |
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A deferred tax provision in the sum of £12,662 has been debited to the revaluation reserve as required by FRS 102.
Loans and borrowings |
Current loans and borrowings
2024 |
2023 |
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Bank overdrafts |
- |
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Signs 'N' Such Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024
Financial commitments, guarantees and contingencies |
Amounts not provided for in the balance sheet
The total amount of financial commitments not included in the balance sheet is £