Luxsigns Limited - Accounts to registrar (filleted) - small 18.2

Luxsigns Limited - Accounts to registrar (filleted) - small 18.2

LUXSIGNS LIMITED - Company Information

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REGISTERED NUMBER: 03962825 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2020

FOR

LUXSIGNS LIMITED
LUXSIGNS LIMITED (REGISTERED NUMBER: 03962825)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2020




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LUXSIGNS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2020







DIRECTOR: N A Luxton





REGISTERED OFFICE: 61 Station Road
Sudbury
Suffolk
CO10 2SP





REGISTERED NUMBER: 03962825 (England and Wales)





ACCOUNTANTS: Seago and Stopps
Chartered Certified Accountants
61 Station Road
Sudbury
Suffolk
CO10 2SP
Page 1
LUXSIGNS LIMITED (REGISTERED NUMBER: 03962825)

BALANCE SHEET
30 APRIL 2020

30.4.19 30.4.20
£    £    Notes £    £   
FIXED ASSETS
14,286 Tangible assets 4 13,725

CURRENT ASSETS
11,885 Stocks 28,540
39,015 Debtors 5 29,288
27,254 Cash at bank and in hand 16,795
78,154 74,623
CREDITORS
34,656 Amounts falling due within one year 6 41,564
43,498 NET CURRENT ASSETS 33,059
57,784 TOTAL ASSETS LESS CURRENT
LIABILITIES
46,784

CREDITORS
(26,661 ) Amounts falling due after more than one
year
7
(19,954
)

(2,657 ) PROVISIONS FOR LIABILITIES (2,608 )
28,466 NET ASSETS 24,222

CAPITAL AND RESERVES
1 Called up share capital 1
2,029 Revaluation reserve 2,054
26,436 Retained earnings 22,167
28,466 24,222

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 notes form part of these financial statements

Page 2 continued...
LUXSIGNS LIMITED (REGISTERED NUMBER: 03962825)

BALANCE SHEET - continued
30 APRIL 2020


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 director and authorised for issue on 22 December 2020 and were signed by:





N A Luxton - Director


The notes form part of these financial statements

Page 3
LUXSIGNS LIMITED (REGISTERED NUMBER: 03962825)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2020

1. STATUTORY INFORMATION

Luxsigns 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Turnover
Turnover represents the value of work completed during the year, by reference to invoiced sales and the movement between opening and closing trade debtor and work in progress balances.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and Machinery - 25% on reducing balance
Motor Vehicles - 25% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value.

Financial instruments
The company enters into basic financial instrument transactions, as appropriate and as and when required, that result in the recognition of financial assets and liabilities within the financial statements such as trade and other accounts receivable and payable, bank loans and hire purchase and lease contracts.

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.


Page 4 continued...
LUXSIGNS LIMITED (REGISTERED NUMBER: 03962825)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2020

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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 6 (2019 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant & Motor
Totals machinery vehicles
£    £    £   
COST OR VALUATION
At 1 May 2019 34,908 25,008 9,900
Additions 4,021 4,021 -
At 30 April 2020 38,929 29,029 9,900
DEPRECIATION
At 1 May 2019 20,622 14,239 6,383
Charge for year 4,582 3,703 879
At 30 April 2020 25,204 17,942 7,262
NET BOOK VALUE
At 30 April 2020 13,725 11,087 2,638
At 30 April 2019 14,286 10,769 3,517

Page 5 continued...
LUXSIGNS LIMITED (REGISTERED NUMBER: 03962825)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2020

4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 30 April 2020 is represented by:

Plant & Motor
Totals machinery vehicles
£    £    £   
Valuation in 2018 2,300 2,300 -
Cost 36,629 26,729 9,900
38,929 29,029 9,900

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.20 30.4.19
£    £   
Trade debtors 12,902 10,377
Other debtors 16,386 28,638
29,288 39,015

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.20 30.4.19
£    £   
Bank loans and overdrafts 6,376 10,000
Trade creditors 12,303 12,379
Taxation and social security 9,961 9,858
Other creditors 12,924 2,419
41,564 34,656

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30.4.20 30.4.19
£    £   
Bank loans 19,954 26,661

Page 6