Company registration number SC480944 (Scotland)
SIGNCRAFT SIGNS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
PAGES FOR FILING WITH REGISTRAR
SIGNCRAFT SIGNS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
SIGNCRAFT SIGNS LIMITED
BALANCE SHEET
AS AT 31 JULY 2024
31 July 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
48,273
12,164
Current assets
Stocks
34,300
6,900
Debtors
5
217,939
236,227
Cash at bank and in hand
124,743
180,190
376,982
423,317
Creditors: amounts falling due within one year
6
(165,513)
(188,678)
Net current assets
211,469
234,639
Total assets less current liabilities
259,742
246,803
Creditors: amounts falling due after more than one year
7
(17,147)
-
0
Provisions for liabilities
(5,127)
(3,042)
Net assets
237,468
243,761
Capital and reserves
Called up share capital
8
20
20
Profit and loss reserves
237,448
243,741
Total equity
237,468
243,761

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 31 July 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.

SIGNCRAFT SIGNS LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2024
31 July 2024
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 29 April 2025
Mr G Pollock
Director
Company Registration No. SC480944
SIGNCRAFT SIGNS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
- 3 -
1
Accounting policies
Company information

Signcraft Signs Limited is a private company limited by shares incorporated in Scotland. The registered office is Block 4, Lochlands Industrial Estate, Larbert, Stirlingshire, United Kingdom, FK5 3NS.

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 £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
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.

1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of a business in 2015 and has been fully amortised over its estimated useful life of five years.

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 equipment
- 25% on reducing balance
Fixtures and fittings
- 25% on reducing balance
Computer Equipment
- 33% on reducing balance
Motor vehicles
- 25% on reducing balance

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
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of 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).

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. After making due allowance for obsolete and slow moving items.

SIGNCRAFT SIGNS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 4 -
1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

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

1.10
Retirement benefits

The company operates a defined pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period which they relate.

1.11
Leases

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

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

SIGNCRAFT SIGNS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 5 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
8
8
3
Intangible fixed assets
Goodwill
£
Cost
At 1 August 2023 and 31 July 2024
404,663
Amortisation and impairment
At 1 August 2023 and 31 July 2024
404,663
Carrying amount
At 31 July 2024
-
0
At 31 July 2023
-
0
4
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Computer Equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 August 2023
55,165
4,741
3,388
22,746
86,040
Additions
-
0
-
0
22,783
26,375
49,158
At 31 July 2024
55,165
4,741
26,171
49,121
135,198
Depreciation and impairment
At 1 August 2023
47,420
2,745
3,041
20,670
73,876
Depreciation charged in the year
1,937
499
5,149
5,464
13,049
At 31 July 2024
49,357
3,244
8,190
26,134
86,925
Carrying amount
At 31 July 2024
5,808
1,497
17,981
22,987
48,273
At 31 July 2023
7,745
1,996
347
2,076
12,164
SIGNCRAFT SIGNS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 6 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
211,712
230,580
Other debtors
6,227
5,647
217,939
236,227
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
38,172
55,792
Taxation and social security
9,649
20,795
Other creditors
117,692
112,091
165,513
188,678
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Obligations under finance leases
17,147
-
0
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
19
19
19
19
Ordinary B shares of £1 each
1
1
1
1
20
20
20
20

A shares are fully entitled to voting rights, dividends and participation in a distribution arising on wind up of the company.

 

B shares are not entitled to voting rights or distribution arising on the wind up. They are entitled to dividend payment at the discretion of the directors.

SIGNCRAFT SIGNS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 7 -
9
Related party transactions

The following amounts were outstanding at the reporting end date:

2024
2023
Amounts due to related parties
£
£
Amounts due to related parties
29,140
54,420
Key Management Personel
23,166
5,733
Other information

The above loans are unsecured, interest free and has no fixed repayment terms.

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