Sign Solutions (Sign Language Interpreti - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04802772 (England and Wales)

Sign Solutions (Sign Language

Interpreting Agency) Ltd

Unaudited Financial Statements

for the Year Ended 31 July 2020

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

8

DIRECTORS:

Mr S Nicholson

Mrs C L M Vale

REGISTERED OFFICE:

Unit 1, Rectory Court

Old Rectory Lane

Alvechurch

Birmingham

West Midlands

B48 7SX

REGISTERED NUMBER:

04802772 (England and Wales)

ACCOUNTANTS:

Grenfell James Associates Limited

13 The Courtyard

Timothys Bridge Road

Stratford Upon Avon

Warwickshire

CV37 9NP

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

28,028

27,662

28,028

27,662

CURRENT ASSETS

Debtors

6

164,171

240,518

Cash at bank and in hand

361,076

340,792

525,247

581,310

CREDITORS

Amounts falling due within one year

7

270,440

260,055

NET CURRENT ASSETS

254,807

321,255

TOTAL ASSETS LESS CURRENT LIABILITIES

282,835

348,917

CREDITORS

Amounts falling due after more than one year

8

431,937

412,297

NET LIABILITIES

(149,102

)

(63,380

)

CAPITAL AND RESERVES

Called up share capital

20

20

Share premium

9,999

9,999

Capital redemption reserve

1

1

Retained earnings

(159,122

)

(73,400

)

(149,102

)

(63,380

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2020 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 4 February 2021 and were signed on its behalf by:

Mr S Nicholson - Director

1.	STATUTORY INFORMATION

Sign Solutions (Sign Language Interpreting Agency) 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

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.

Goodwill -estimated useful life

Tangible fixed assets

Fixtures and fittings -25% on cost

Motor vehicles -18.75% on RBM

Taxation

Taxation for the year comprises current and deferred 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.

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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

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 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 23 (2019 - 14 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 August 2019

and 31 July 2020

300,000

AMORTISATION

At 1 August 2019

and 31 July 2020

300,000

NET BOOK VALUE

At 31 July 2020

-

At 31 July 2019

-

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1 August 2019

128,010

26,789

154,799

Additions

8,447

-

8,447

At 31 July 2020

136,457

26,789

163,246

DEPRECIATION

At 1 August 2019

122,350

4,787

127,137

Charge for year

3,955

4,126

8,081

At 31 July 2020

126,305

8,913

135,218

NET BOOK VALUE

At 31 July 2020

10,152

17,876

28,028

At 31 July 2019

5,660

22,002

27,662

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 August 2019

and 31 July 2020

26,789

DEPRECIATION

At 1 August 2019

4,787

Charge for year

4,126

At 31 July 2020

8,913

NET BOOK VALUE

At 31 July 2020

17,876

At 31 July 2019

22,002

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

118,040

214,296

Other debtors

46,131

26,222

164,171

240,518

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Hire purchase contracts (see note 10)

3,639

3,639

Trade creditors

92,129

122,496

Taxation and social security

99,458

113,427

Other creditors

75,214

20,493

270,440

260,055

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Bank loans (see note 9)

423,279

400,000

Hire purchase contracts (see note 10)

8,658

12,297

431,937

412,297

9.

LOANS

An analysis of the maturity of loans is given below:

2020

2019

£

£

Amounts falling due within one year or on demand:

Other loans

50,000

-

Amounts falling due between two and five years:

Bank loans - 2-5 years

423,279

400,000

10.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

2020

2019

£

£

Net obligations repayable:

Within one year

3,639

3,639

Between one and five years

8,658

12,297

12,297

15,936

Non-cancellable

operating leases

2020

2019

£

£

Within one year

33,036

33,036

Between one and five years

125,775

143,129

In more than five years

-

15,682

158,811

191,847