Registered number
03658159
Elite Signs & Graphic Displays Ltd
Filleted Accounts
31 October 2024
Elite Signs & Graphic Displays Ltd
Registered number: 03658159
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,786 3,570
Current assets
Stocks 1,460 1,180
Debtors 4 36,736 52,104
Cash at bank and in hand 57,748 43,299
95,944 96,583
Creditors: amounts falling due within one year 5 (53,657) (57,205)
Net current assets 42,287 39,378
Net assets 44,073 42,948
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 43,073 41,948
Shareholder's funds 44,073 42,948
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
Daryl Brinton
Director
Approved by the board on 30 June 2025
Elite Signs & Graphic Displays Ltd
Notes to the Accounts
for the year ended 31 October 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 rendering of services. 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.
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 at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment over 5 years
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, 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. 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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 November 2023 81,805 19,495 101,300
At 31 October 2024 81,805 19,495 101,300
Depreciation
At 1 November 2023 78,235 19,495 97,730
Charge for the year 1,784 - 1,784
At 31 October 2024 80,019 19,495 99,514
Net book value
At 31 October 2024 1,786 - 1,786
At 31 October 2023 3,570 - 3,570
4 Debtors 2024 2023
£ £
Trade debtors 36,736 52,104
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 30,093 29,605
Taxation and social security costs 21,282 24,524
Other creditors 2,282 3,076
53,657 57,205
6 Controlling party
The company was in both the current and preceding accounting periods under the ultimate control of its director by virtue of his ownership of the company’s entire issued share capital.
7 Other information
Elite Signs & Graphic Displays Ltd is a private company limited by shares and incorporated in England. Its registered office is:
51 Straight Road
Old Windsor
Windsor
Berkshire
SL4 2RT
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