Fastsigns (Leeds) Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 04609785

Fastsigns (Leeds) Ltd

Filleted Unaudited Financial Statements

31 December 2024

Fastsigns (Leeds) Ltd

Balance Sheet

31 December 2024

	2024		2023
Note	£	£	£	£

Fixed assets

Intangible assets	5	45,000	60,000
Tangible assets	6	89,266	111,072
		---------	---------
		134,266	171,072

Current assets

Stocks		24,632	25,457
Debtors	7	178,271	104,622
Cash at bank and in hand		120,200	133,840
		---------	---------
		323,103	263,919

Creditors: amounts falling due within one year	8	( 187,006)		( 135,006)
		---------		---------
Net current assets			136,097		128,913
			---------		---------
Total assets less current liabilities			270,363		299,985

Provisions	( 22,316)	( 27,909)
	---------	---------
Net assets	248,047	272,076
	---------	---------

Capital and reserves

Called up share capital	1,000	1,000
Profit and loss account	247,047	271,076
	---------	---------
Shareholders funds	248,047	272,076
	---------	---------

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 profit and loss account 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 .

Fastsigns (Leeds) Ltd

Balance Sheet (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 17 September 2025 , and are signed on behalf of the board by:

Mr C J Simpson

Director

Company registration number: 04609785

Fastsigns (Leeds) Ltd

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 principal place of business is 34 York Road, Leeds, LS9 8SY.

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.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of Value Added Tax.

Corporation 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.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis. Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

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	-	5% 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 improvements	-	15% straight line
Plant and equipment	-	25% reducing balance
Fixtures and fittings	-	15% reducing balance
Motor vehicles	-	25% reducing balance
Computer equipment	-	25% straight line

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 measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

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 balance sheet 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

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from banks and other third parties, and loans to related parties.

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 14 (2023: 14 ).

5. Intangible assets

	Goodwill
	£
Cost
At 1 January 2024 and 31 December 2024	300,000
	---------
Amortisation
At 1 January 2024	240,000
Charge for the year	15,000
	---------
At 31 December 2024	255,000
	---------
Carrying amount
At 31 December 2024	45,000
	---------
At 31 December 2023	60,000
	---------

6. Tangible assets

	Leasehold improvements	Plant and equipment	Fixtures and fittings	Motor vehicles	Computer equipment	Total
	£	£	£	£	£	£
Cost
At 1 Jan 2024	61,411	366,102	57,274	55,297	134,317	674,401
Additions	–	6,250	–	–	4,082	10,332
	--------	---------	--------	--------	---------	---------
At 31 Dec 2024	61,411	372,352	57,274	55,297	138,399	684,733
	--------	---------	--------	--------	---------	---------
Depreciation
At 1 Jan 2024	54,472	308,251	52,982	33,360	114,264	563,329
Charge for the year	1,541	15,374	644	5,484	9,095	32,138
	--------	---------	--------	--------	---------	---------
At 31 Dec 2024	56,013	323,625	53,626	38,844	123,359	595,467
	--------	---------	--------	--------	---------	---------
Carrying amount
At 31 Dec 2024	5,398	48,727	3,648	16,453	15,040	89,266
	--------	---------	--------	--------	---------	---------
At 31 Dec 2023	6,939	57,851	4,292	21,937	20,053	111,072
	--------	---------	--------	--------	---------	---------

7. Debtors

	2024	2023
	£	£
Trade debtors	170,691	97,585
Other debtors	7,580	7,037
	---------	---------
	178,271	104,622
	---------	---------

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	6,496	8,361
Trade creditors	52,583	45,226
Social security and other taxes	69,792	38,357
Other creditors	58,135	43,062
	---------	---------
	187,006	135,006
	---------	---------

9. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2024	2023
	£	£
Not later than 1 year	6,300	6,300
Later than 1 year and not later than 5 years	31,500	31,500
Later than 5 years	126,000	132,300
	---------	---------
	163,800	170,100
	---------	---------

10. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2024
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
Mr A M Simpson	( 12,210)	56,582	( 45,312)	( 940)
Mr C J Simpson	( 8,176)	23,433	( 15,312)	( 55)
	--------	--------	--------	----
	( 20,386)	80,015	( 60,624)	( 995)
	--------	--------	--------	----

	2023
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
Mr A M Simpson	( 12,210)	43,015	( 43,015)	( 12,210)
Mr C J Simpson	( 18,352)	32,554	( 22,378)	( 8,176)
	--------	--------	--------	--------
	( 30,562)	75,569	( 65,393)	( 20,386)
	--------	--------	--------	--------