Applelec Sign Components (UK) Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 3666296

Applelec Sign Components (UK) Limited

Filleted Unaudited Financial Statements

31 December 2024

Applelec Sign Components (UK) Limited

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£

Fixed assets

Tangible assets	6		271,353	337,246

Current assets

Stocks		601,706	948,959
Debtors	7	996,795	999,209
Cash at bank and in hand		834,461	716,213
		------------	------------
		2,432,962	2,664,381

Creditors: amounts falling due within one year	8	1,219,519		1,521,323
		------------		------------
Net current assets			1,213,443	1,143,058
			------------	------------
Total assets less current liabilities			1,484,796	1,480,304

Creditors: amounts falling due after more than one year	9		22,185	131,222

Provisions

Taxation including deferred tax	34,196	43,715
	------------	------------
Net assets	1,428,415	1,305,367
	------------	------------

Capital and reserves

Called up share capital	99	99
Profit and loss account	1,428,316	1,305,268
	------------	------------
Shareholders funds	1,428,415	1,305,367
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Applelec Sign Components (UK) Limited

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 24 September 2025 , and are signed on behalf of the board by:

C Eastwood

Director

Company registration number: 3666296

Applelec Sign Components (UK) Limited

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 1 Wharfedale Business Park, Shetcliffe Lane, Bradford, West Yorkshire, BD4 9RW.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Employee ownership trust

The Applelec Employee Ownership Trust has been established with the object of ensuring that shares in the company are held by the trustee for the benefit of the company's employees and that the eligible employees shall have an interest in the company's business.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	20% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Leasehold Property	-	10% reducing balance
Plant and Machinery	-	20% reducing balance
Motor Vehicles	-	20% reducing balance
Equipment	-	20 % reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obselete and slow moving items. Stock is measured using the latest purchase price which approximates to actual cost.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 67 (2023: 69 ).

5. Intangible assets

	Goodwill
	£
Cost
At 1 January 2024 and 31 December 2024	125,000
	---------
Amortisation
At 1 January 2024 and 31 December 2024	125,000
	---------
Carrying amount
At 31 December 2024	–
	---------
At 31 December 2023	–
	---------

6. Tangible assets

	Long leasehold property	Plant and machinery	Motor vehicles	Equipment	Total
	£	£	£	£	£
Cost
At 1 January 2024	134,116	720,270	109,130	462,799	1,426,315
Additions	–	29,220	–	49,500	78,720
Disposals	–	( 168,780)	( 31,500)	( 368,697)	( 568,977)
	---------	---------	---------	---------	------------
At 31 December 2024	134,116	580,710	77,630	143,602	936,058
	---------	---------	---------	---------	------------
Depreciation
At 1 January 2024	90,431	571,043	51,137	376,458	1,089,069
Charge for the year	4,368	31,990	10,618	23,043	70,019
Disposals	–	( 154,275)	( 22,675)	( 317,433)	( 494,383)
	---------	---------	---------	---------	------------
At 31 December 2024	94,799	448,758	39,080	82,068	664,705
	---------	---------	---------	---------	------------
Carrying amount
At 31 December 2024	39,317	131,952	38,550	61,534	271,353
	---------	---------	---------	---------	------------
At 31 December 2023	43,685	149,227	57,993	86,341	337,246
	---------	---------	---------	---------	------------

7. Debtors

	2024	2023
	£	£
Trade debtors	945,782	911,981
Amounts owed by group undertakings and undertakings in which the company has a participating interest	13,616	13,616
Other debtors	37,397	73,612
	---------	---------
	996,795	999,209
	---------	---------

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	–	200,000
Trade creditors	702,936	693,895
Corporation tax	28,513	143,239
Social security and other taxes	225,574	203,855
Other creditors	1	1
Other creditors	262,495	280,333
	------------	------------
	1,219,519	1,521,323
	------------	------------

Bank overdrafts are secured by a debenture over the company's assets dated 16 December 2005 incorporating a fixed and floating charge.

9. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	–	83,333
Other creditors	22,185	47,889
	--------	---------
	22,185	131,222
	--------	---------

10. Directors' advances, credits and guarantees

The directors loan account remained in credit throughout the current year. There were no guarantees in the year.

11. Related party transactions

The company made a gift of £642,000 (2023 - £425,355) to The Applelec Employee Ownership Trust. Future gifts will be made at the discretion of the company directors based on available cashflows and the performance of the business.

12. Controlling party

The company is controlled by Applelec Trustees Limited, being the trustee of The Applelec Employee Ownership Trust.