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REGISTERED NUMBER: 06403394 (England and Wales)















Unaudited Financial Statements for the Year Ended 30th November 2024

for

POPPY SIGNS LTD

POPPY SIGNS LTD (REGISTERED NUMBER: 06403394)






Contents of the Financial Statements
for the Year Ended 30th November 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


POPPY SIGNS LTD

Company Information
for the Year Ended 30th November 2024







DIRECTORS: Mr D McDonald
Mrs V McDonald





SECRETARY: Mrs V McDonald





REGISTERED OFFICE: 41 St Thomas's Road
Chorley
Lancashire
PR7 1JE





REGISTERED NUMBER: 06403394 (England and Wales)





ACCOUNTANTS: BK Plus - Chorley
Chartered Certified Accountants
41 St Thomas's Road
Chorley
Lancashire
PR7 1JE

POPPY SIGNS LTD (REGISTERED NUMBER: 06403394)

Balance Sheet
30th November 2024

30.11.24 30.11.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 179,720 187,734
179,720 187,734

CURRENT ASSETS
Stocks 6 34,000 34,000
Debtors 7 89,037 124,016
Cash at bank and in hand 43,527 629
166,564 158,645
CREDITORS
Amounts falling due within one year 8 173,481 164,100
NET CURRENT LIABILITIES (6,917 ) (5,455 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

172,803

182,279

CREDITORS
Amounts falling due after more than one
year

9

(79,148

)

(87,605

)

PROVISIONS FOR LIABILITIES (34,147 ) (33,692 )
NET ASSETS 59,508 60,982

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 59,408 60,882
SHAREHOLDERS' FUNDS 59,508 60,982

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th November 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

POPPY SIGNS LTD (REGISTERED NUMBER: 06403394)

Balance Sheet - continued
30th November 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22nd April 2025 and were signed on its behalf by:




Mr D McDonald - Director



Mrs V McDonald - Director


POPPY SIGNS LTD (REGISTERED NUMBER: 06403394)

Notes to the Financial Statements
for the Year Ended 30th November 2024

1. STATUTORY INFORMATION

Poppy Signs Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Revenue recognition
Revenue is measured at the fair value of the consideration received or receivable and represents amounts received for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Revenue is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Office equipment - 25% on reducing balance

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

POPPY SIGNS LTD (REGISTERED NUMBER: 06403394)

Notes to the Financial Statements - continued
for the Year Ended 30th November 2024

2. ACCOUNTING POLICIES - continued

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company makes payments to the employee's private pension plans. Contributions are charged to the profit and loss account in the period to which they relate.

Cash and cash equivalents
Cash and cash equivalents includes cash in hand, deposits held with banks, and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.

Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments’ of FRS 102 to all its financial instruments.

Financial instruments are recognised in the company’s balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 14 ) .

POPPY SIGNS LTD (REGISTERED NUMBER: 06403394)

Notes to the Financial Statements - continued
for the Year Ended 30th November 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st December 2023
and 30th November 2024 50,000
AMORTISATION
At 1st December 2023
and 30th November 2024 50,000
NET BOOK VALUE
At 30th November 2024 -
At 30th November 2023 -

5. TANGIBLE FIXED ASSETS
Plant and Motor Office
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1st December 2023 339,937 49,455 24,082 413,474
Additions 31,529 - 2,205 33,734
At 30th November 2024 371,466 49,455 26,287 447,208
DEPRECIATION
At 1st December 2023 178,556 30,200 16,984 225,740
Charge for year 35,943 3,852 1,953 41,748
At 30th November 2024 214,499 34,052 18,937 267,488
NET BOOK VALUE
At 30th November 2024 156,967 15,403 7,350 179,720
At 30th November 2023 161,381 19,255 7,098 187,734

POPPY SIGNS LTD (REGISTERED NUMBER: 06403394)

Notes to the Financial Statements - continued
for the Year Ended 30th November 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1st December 2023 213,995
Additions 23,255
Transfer to ownership (84,995 )
At 30th November 2024 152,255
DEPRECIATION
At 1st December 2023 82,404
Charge for year 22,021
Transfer to ownership (48,005 )
At 30th November 2024 56,420
NET BOOK VALUE
At 30th November 2024 95,835
At 30th November 2023 131,591

6. STOCKS
30.11.24 30.11.23
£    £   
Stocks 24,000 24,000
Work-in-progress 10,000 10,000
34,000 34,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Trade debtors 85,519 121,029
Prepayments 3,518 2,987
89,037 124,016

POPPY SIGNS LTD (REGISTERED NUMBER: 06403394)

Notes to the Financial Statements - continued
for the Year Ended 30th November 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Bank loans and overdrafts 15,000 28,192
Other loans 13,805 -
Hire purchase contracts (see note 10) 30,584 31,351
Trade creditors 49,855 56,719
Tax 8,347 41
Social security and other taxes 48,700 42,912
Other creditors 2,807 1,068
Directors' current accounts 1,700 1,335
Accrued expenses 2,683 2,482
173,481 164,100

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.11.24 30.11.23
£    £   
Bank loans - 1-2 years 8,750 15,000
Bank loans - 2-5 years - 8,750
Other loans - 1-2 years 19,944 -
Hire purchase contracts (see note 10) 50,454 63,855
79,148 87,605

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
30.11.24 30.11.23
£    £   
Net obligations repayable:
Within one year 30,584 31,351
Between one and five years 50,454 63,855
81,038 95,206

Non-cancellable operating leases
30.11.24 30.11.23
£    £   
Within one year 35,000 32,500
Between one and five years 144,500 143,000
In more than five years 146,000 182,500
325,500 358,000

POPPY SIGNS LTD (REGISTERED NUMBER: 06403394)

Notes to the Financial Statements - continued
for the Year Ended 30th November 2024

11. SECURED DEBTS

The following secured debts are included within creditors:

30.11.24 30.11.23
£    £   
Bank loans 23,750 38,750
Hire purchase contracts 81,038 95,206
Funding Circle Loan 33,749 -
138,537 133,956

The hire purchase arrangements are secured on the assets to which they relate.

The bank loan is secured by a partial guarantee from the UK government under the CBIL scheme.

The funding circle loan is secured by personal guarantees.

12. RELATED PARTY DISCLOSURES

As at 30 November 2024, the company owed to its directors £1,700 (2023: £1,335). No interest has been charged to the company in respect of this loan and there is no formal repayment date.

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr D & Mrs V McDonald, by virtue of their 100% shareholding of the company's share capital.