REGISTERED NUMBER: 03876828 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

ASSIGNS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

N J Cole

D P Chard

SECRETARY:

N J Cole

REGISTERED OFFICE:

Unit 21Jubilee Trade Centre

Jubilee Road

Letchworth

Hertfordshire

SG6 1SP

REGISTERED NUMBER:

03876828 (England and Wales)

ACCOUNTANTS:

Barker Wilkinson Limited

19-21 Middle Row

Stevenage

Hertfordshire

SG1 3AW

FIXED ASSETS

Tangible assets

4

61,359

65,485

CURRENT ASSETS

Stocks

153,023

156,103

Debtors

5

331,112

284,316

Cash at bank and in hand

188,586

101,640

672,721

542,059

CREDITORS

Amounts falling due within one year

6

330,064

236,788

NET CURRENT ASSETS

342,657

305,271

TOTAL ASSETS LESS CURRENT LIABILITIES

404,016

370,756

CREDITORS

Amounts falling due after more than one year

7

(5,285

)

(15,661

)

PROVISIONS FOR LIABILITIES

(6,400

)

-

NET ASSETS

392,331

355,095

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

392,329

355,093

SHAREHOLDERS' FUNDS

392,331

355,095

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 September 2025 and were signed on its behalf by:

D P Chard - Director

N J Cole - Director

1.	STATUTORY INFORMATION

Assigns Limited 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.

The directors have assessed various factors and risks affecting the company and its ability in these difficult economic times to continue to trade as a going concern. The directors have not identified any material uncertainties or risks related to events or conditions that could affect the carrying values of the company's assets and liabilities as at the balance sheet date.

Therefore the financial statements for the year ended 31st December 2024 have been prepared using the going concern basis of accounting.

Significant judgements and estimates

In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from those estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

2% on cost

Plant and machinery

-

20% on cost

Fixtures and fittings

-

33% on cost

Motor vehicles

-

33% on cost

Computer equipment

-

33% on cost

Stocks

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

Financial instruments

All basic financial instruments including trade and other debtors, cash and cash equivalents, trade and other creditors, are initially recognised at transaction price and thereafter stated at amortised cost if materially different.

Taxation

Taxation for the year comprises current tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 January 2024

46,179

48,317

12,607

Additions

4,570

-

-

At 31 December 2024

50,749

48,317

12,607

DEPRECIATION

At 1 January 2024

10,951

19,958

12,607

Charge for year

1,020

6,312

-

At 31 December 2024

11,971

26,270

12,607

NET BOOK VALUE

At 31 December 2024

38,778

22,047

-

At 31 December 2023

35,228

28,359

-

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2024

10,082

30,874

148,059

Additions

-

-

4,570

At 31 December 2024

10,082

30,874

152,629

DEPRECIATION

At 1 January 2024

10,082

28,976

82,574

Charge for year

-

1,364

8,696

At 31 December 2024

10,082

30,340

91,270

NET BOOK VALUE

At 31 December 2024

-

534

61,359

At 31 December 2023

-

1,898

65,485

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

260,881

164,579

Other debtors

45,204

85,367

Tax

-

1,902

Prepayments

25,027

32,468

331,112

284,316

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

10,376

10,119

Trade creditors

144,819

124,533

Amounts owed to group undertakings

75,565

74,185

Tax

15,099

-

Social security and other taxes

6,395

6,362

VAT

39,628

4,936

Other creditors

1,189

1,016

Accrued expenses

36,993

15,637

330,064

236,788

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

5,285

15,661

8.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

15,661

25,780

During June 2020 the company took out a Government-backed Bounce Back Loan, which was available as part of the Government's COVID-19 business support initiatives. The loan is repayable in instalments over six years at a rate of 2.5% interest, with the first 12 months' interest being met by the Government, which also acts as guarantor.

9.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

N Cole is a director of this company, Benchmark Fabrications Limited (BF) and Assigns Associates Limited (AA).

During the year, the company made sales net of VAT of £116,611 (2023: £76,538) to and purchased goods/services of £1,296 (2023: nil from BF. At the balance sheet date there was a trading balance due by BF of £85,990 (2023: £84,561),whilst there was a trading balance due to BF of £8,215 (2023: £6,660).

AA charged the company for arrears of rent totalling £40,163 (2023:nil) meaning that at the balance sheet date there was a loan outstanding due to the company by AA of £45,204 (2023: £85,367).

10.	IMMEDIATE PARENT UNDERTAKING

The company's immediate parent company is Assigns Holdings Limited, a company registered in England and Wales, which does not prepare group accounts and whose registered address and place of business is Unit 21 Jubilee Trading Centre, Jubilee Road, Letchworth, Hertfordshire, SG6 1SP.