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

REGISTERED NUMBER: 04211943 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2021

FOR

SIGNCRAFT LIMITED

Page

Company Information

1

Chartered Certified Accountants' Report

2

Statement of Financial Position

3

to

4

Notes to the Financial Statements

5

to

8

DIRECTORS:

C L Dowd

K P Bennett

REGISTERED OFFICE:

Unit 3

Cheltenham Enterprise Centre

Central Way

Cheltenham

Gloucestershire

GL51 8JW

REGISTERED NUMBER:

04211943 (England and Wales)

ACCOUNTANTS:

Smith Heath Limited

Brent House

382 Gloucester Road

Cheltenham

Gloucestershire

GL51 7AY

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Signcraft Limited for the year ended 30 September 2021 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Signcraft Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Signcraft Limited and state those matters that we have agreed to state to the Board of Directors of Signcraft Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Signcraft Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Signcraft Limited. You consider that Signcraft Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Signcraft Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Smith Heath Limited

Brent House

382 Gloucester Road

Cheltenham

Gloucestershire

GL51 7AY

12 April 2022

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

38,500

39,439

38,500

39,439

CURRENT ASSETS

Stocks

9,123

14,105

Debtors

6

30,249

32,179

Cash at bank and in hand

94,020

49,681

133,392

95,965

CREDITORS

Amounts falling due within one year

7

80,119

58,445

NET CURRENT ASSETS

53,273

37,520

TOTAL ASSETS LESS CURRENT LIABILITIES

91,773

76,959

CREDITORS

Amounts falling due after more than one year

8

(36,667

)

(46,667

)

PROVISIONS FOR LIABILITIES

(7,315

)

(6,811

)

NET ASSETS

47,791

23,481

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

47,789

23,479

SHAREHOLDERS' FUNDS

47,791

23,481

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2021 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 12 April 2022 and were signed on its behalf by:

C L Dowd - Director

1.	STATUTORY INFORMATION

Signcraft 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.

Turnover

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

Goodwill

Goodwill was transferred to the company on 1st May 2004. Amortisation is on a straight line basis over the period of ten years.

Additional Goodwill relates to the purchase of Signcraft (Cheltenham) Limited on 17th October 2006. This is being amortised on a straight line basis over five years, in line with the purchase agreement.

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.

Tangible fixed assets

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

Equipment

-

20% on cost

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

15% on cost

Office equipment

-

20% 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.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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 3 (2020 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 October 2020

and 30 September 2021

47,628

AMORTISATION

At 1 October 2020

and 30 September 2021

47,628

NET BOOK VALUE

At 30 September 2021

-

At 30 September 2020

-

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Office

Equipment

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 October 2020

74,997

56,961

28,899

7,753

168,610

Additions

-

499

19,250

-

19,749

Disposals

-

-

(17,899

)

-

(17,899

)

At 30 September 2021

74,997

57,460

30,250

7,753

170,460

DEPRECIATION

At 1 October 2020

65,614

45,377

12,970

5,210

129,171

Charge for year

4,736

1,781

2,615

827

9,959

Eliminated on disposal

-

-

(7,170

)

-

(7,170

)

At 30 September 2021

70,350

47,158

8,415

6,037

131,960

NET BOOK VALUE

At 30 September 2021

4,647

10,302

21,835

1,716

38,500

At 30 September 2020

9,383

11,584

15,929

2,543

39,439

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

22,077

23,306

Other debtors

8,172

8,873

30,249

32,179

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

10,000

3,333

Trade creditors

31,281

24,149

Taxation and social security

25,918

21,083

Other creditors

12,920

9,880

80,119

58,445

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans

36,667

46,667

2021

2020

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

6,667

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2021

2020

£

£

Within one year

14,523

2,148

Between one and five years

73,114

5,549

87,637

7,697