Registration number:
Mid Antrim Signs Ltd
for the Year Ended 28 February 2025
Mid Antrim Signs Ltd
(Registration number: NI612274)
Balance Sheet as at 28 February 2025
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Note |
2025 |
2024 |
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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 |
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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 |
200 |
200 |
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Retained earnings |
524,097 |
507,672 |
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Shareholders' funds |
524,297 |
507,872 |
For the financial year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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• |
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• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Mid Antrim Signs Ltd
(Registration number: NI612274)
Balance Sheet as at 28 February 2025
Approved and authorised by the
.........................................
Mr Mark Brown
Director
Mid Antrim Signs Ltd
Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025
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General information |
The company is a private company limited by share capital, incorporated in Northern Ireland.
The address of its registered office is:
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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 except that as disclosed in the accounting policies certain items are shown at fair value.
The presentational and functional currency is sterling.
Judgements
The directors are required to disclose the judgements that have been made in the applications of the accounting policies and which have a significant effect on amounts recognised in the financial statements. In addition, they are required to disclose information about key assumptions and other key sources of estimation uncertainity that have a risk of causing material adjsutment to the carrying values of assets and liabilities within the next financial year. |
There are no judgements of a material nature which would have a significant impact on the financial statements. |
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts. Revenue from the sale of goods is recognised at the point of delivery and customer acceptance. Revenue from the rendering of services is recognised on completion on the service provision, at which point the Company has generated a right to consideration.
Mid Antrim Signs Ltd
Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, 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 income tax is recognised on 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 income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Plant and machinery |
20%, 50% straight line basis |
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Motor vehicles |
15% reducing balance basis |
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
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Asset class |
Amortisation method and rate |
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Goodwill |
50% straight line basis |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Short-term debtors and creditors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Mid Antrim Signs Ltd
Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised in the profit and loss account.
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the the useful life of the asset. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation. Lease payments are apportioned between finance costs in the profit and loss account and a reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Mid Antrim Signs Ltd
Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025
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Intangible assets |
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Goodwill |
Total |
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Cost or valuation |
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At 1 March 2024 |
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At 28 February 2025 |
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Amortisation |
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At 1 March 2024 |
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At 28 February 2025 |
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Carrying amount |
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At 28 February 2025 |
- |
- |
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Tangible assets |
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Motor vehicles |
Other tangible assets |
Total |
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Cost or valuation |
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At 1 March 2024 |
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Additions |
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Disposals |
( |
- |
( |
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At 28 February 2025 |
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Depreciation |
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At 1 March 2024 |
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Charge for the year |
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Eliminated on disposal |
( |
- |
( |
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At 28 February 2025 |
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Carrying amount |
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At 28 February 2025 |
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At 29 February 2024 |
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Mid Antrim Signs Ltd
Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025
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Stocks |
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2025 |
2024 |
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Raw materials and consumables |
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Debtors |
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Current |
2025 |
2024 |
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Trade debtors |
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Prepayments |
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Other debtors |
- |
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Creditors |
Creditors: amounts falling due within one year
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2025 |
2024 |
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Due within one year |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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- |
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Share capital |
Allotted, called up and fully paid shares
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2025 |
2024 |
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No. |
£ |
No. |
£ |
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200 |
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200 |
Mid Antrim Signs Ltd
Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025
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Related party transactions |
At the year end the Company owed its parent Straid Holdings Ltd £19,649 (2024: Straid Holdings Ltd owed the company £71,351). No interest was charged on the amounts outstanding.
During the year the Company leased premises from Straid Holdings, paying rent, insurance and service charge of £73,323. Management charges of £50,000 were also paid to Straid Holdings Ltd
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Parent and ultimate parent undertaking |
The company's immediate parent is
The ultimate controlling parties are