Registered number
04190389
Northern Signs Engravers Ltd
Abridged Accounts
31 December 2024
Northern Signs Engravers Ltd
Registered number: 04190389
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 234,717 223,915
Current assets
Stocks 21,961 25,033
Debtors 5 139,118 174,888
Cash at bank and in hand 205,139 157,146
366,218 357,067
Creditors: amounts falling due within one year 6 (128,680) (124,161)
Net current assets 237,538 232,906
Total assets less current liabilities 472,255 456,821
Creditors: amounts falling due after more than one year 7 - (1,633)
Net assets 472,255 455,188
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 471,255 454,188
Shareholders' funds 472,255 455,188
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr G Virgo
Director
Approved by the board on 2 May 2025
Northern Signs Engravers Ltd
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery 10% R.B
Fixtures, fittings, tools and equipment 25% R.B
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 13 13
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2024 248,688
At 31 December 2024 248,688
Amortisation
At 1 January 2024 248,688
At 31 December 2024 248,688
Net book value
At 31 December 2024 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 January 2024 170,942 361,832 532,774
Additions - 29,190 29,190
At 31 December 2024 170,942 391,022 561,964
Depreciation
At 1 January 2024 67,524 241,335 308,859
Charge for the year 3,419 14,969 18,388
At 31 December 2024 70,943 256,304 327,247
Net book value
At 31 December 2024 99,999 134,718 234,717
At 31 December 2023 103,418 120,497 223,915
5 Debtors 2024 2023
£ £
Trade debtors 139,118 115,993
Other debtors - 58,895
139,118 174,888
6 Creditors: amounts falling due within one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts - 7,600
Trade creditors 68,057 41,768
Taxation and social security costs 60,184 59,252
Other creditors 439 15,541
128,680 124,161
7 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts - 1,633
8 Other information
Northern Signs Engravers Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Green Lane
Felling
Gateshead
NE10 0QH
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