Company No: SC530571 (Scotland)

Contents

• Company Information
• Accountant's Report
• Balance Sheet
• Notes to the Unaudited Financial Statements

DIRECTORS	Kenneth Murphy
	Nicola Murphy
REGISTERED OFFICE	Unit 1 Harlaw Business Centre
	Inverurie
	AB51 4FR
	Scotland
	United Kingdom
COMPANY NUMBER	SC530571(Scotland)
ACCOUNTANT	Acumen Accountants & Advisors Limited
	Inverurie Business Hub
	Unit 1, Offices 1 & 8
	Blackhall Industrial Estate
	Burghmuir Circle
	Inverurie
	AB51 4FS

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Rood Signs Limited for the financial year ended 31 March 2021 which comprises the Balance Sheet and the related notes 1 to 15 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.

It is your duty to ensure that Rood Signs 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 Rood Signs Limited. You consider that Rood Signs Limited is exempt from the statutory audit requirement for the financial year.

We have not been instructed to carry out an audit or a review of the financial statements of Rood Signs 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.

This report is made solely to the Board of Directors of Rood Signs Limited, as a body, in accordance with the terms of our engagement letter dated 15 July 2016. Our work has been undertaken solely to prepare for your approval the financial statements of Rood Signs Limited and state those matters that we have agreed to state to you 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 Rood Signs Limited and its Board of Directors as a body for our work or for this report.

Acumen Accountants & Advisors Limited
Accountants

Inverurie Business Hub
Unit 1, Offices 1 & 8
Blackhall Industrial Estate
Burghmuir Circle
Inverurie
AB51 4FS

31 August 2021

		2021		2020
	Note	£		£
Fixed assets
Tangible assets	5	92,370		113,097
		92,370		113,097
Current assets
Stocks	6	22,646		20,991
Debtors	7	305,212		266,247
Cash at bank and in hand	8	83,891		13,959
		411,749		301,197
Creditors
Amounts falling due within one year	9	( 176,779)		( 155,911)
Net current assets		234,970		145,286
Total assets less current liabilities		327,340		258,383
Creditors
Amounts falling due after more than one year	10	( 93,151)		( 82,060)
Provisions for liabilities	11	( 4,017)		( 12,460)
Net assets		230,172		163,863
Capital and reserves
Called-up share capital	12	1,000		1,000
Profit and loss account		229,172		162,863
Total shareholders' funds		230,172		163,863

For the financial year ending 31 March 2021 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 financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Rood Signs Limited (registered number: SC530571) were approved and authorised for issue by the Board of Directors on 13 September 2021. They were signed on its behalf by:

Kenneth Murphy Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year.

General information and basis of accounting

Rood Signs Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Unit 1 Harlaw Business Centre, Inverurie, AB51 4FR, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council.

The functional currency of Rood Signs Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

Turnover

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

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
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.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.

Deferred tax assets and liabilities are not discounted.

Government Grants

Income in respect of the Job Retention Scheme is recognised in the period in which the underlying furloughed staff costs relate to.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Plant & Machinery - 20% on reducing balance
Fixtures & Fittings - 20% on reducing balance
Motor Vehicles - 20% on reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial in such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

2. Employees

	2021		2020
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	12		13

3. Tax on profit

	2021		2020
	£		£
Current tax on profit
UK corporation tax	33,489		11,036
Total current tax	33,489		11,036
Deferred tax
Origination and reversal of timing differences	( 8,443)		11,622
Total deferred tax	( 8,443)		11,622
Total tax on profit	25,046		22,658

4. Dividends on equity shares

	2021		2020
	£		£
Amounts recognised as distributions to equity holders in the financial period:
Final dividend for the financial year ended 31 March 2021 of £72,023 (2020: £70,192) per ordinary share	72,023		70,192

5. Tangible assets

	Plant and machinery		Vehicles		Fixtures and fittings		Total
	£		£		£		£
Cost
At 01 April 2020	47,413		127,002		4,767		179,182
Additions	2,247		0		0		2,247
At 31 March 2021	49,660		127,002		4,767		181,429
Accumulated depreciation
At 01 April 2020	22,619		40,943		2,523		66,085
Charge for the financial year	5,313		17,212		449		22,974
At 31 March 2021	27,932		58,155		2,972		89,059
Net book value
At 31 March 2021	21,728		68,847		1,795		92,370
At 31 March 2020	24,794		86,059		2,244		113,097

6. Stocks

	2021		2020
	£		£
Stocks	14,722		11,322
Work in progress	7,924		9,669
	22,646		20,991

There are no material differences between the replacement cost of stock and the Balance Sheet amounts.

7. Debtors

	2021		2020
	£		£
Trade debtors	155,382		116,847
Amounts owed by associates	143,243		143,683
Other debtors	6,587		5,717
	305,212		266,247

8. Cash and cash equivalents

	2021		2020
	£		£
Cash at bank and in hand	83,891		13,959

9. Creditors: amounts falling due within one year

	2021		2020
	£		£
Bank loans and overdrafts	20,589		15,808
Trade creditors	55,765		47,424
Other creditors	32,742		32,346
Corporation tax	33,489		17,310
Other taxation and social security	34,194		43,023
	176,779		155,911

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

	2021		2020
	£		£
Bank loans	59,817		30,406
Obligations under finance leases and hire purchase contracts	33,334		51,654
	93,151		82,060

There are no amounts included above in respect of which any security has been given by the small entity.

11. Deferred tax

	2021		2020
	£		£
At the beginning of financial year	( 12,460)		( 838)
Credited/(charged) to the Statement of Income and Retained Earnings	8,443		( 11,622)
At the end of financial year	( 4,017)		( 12,460)

12. Called-up share capital

	2021		2020
	£		£
Allotted, called-up and fully-paid
1,000 Ordinary shares of £ 1.00 each	1,000		1,000

13. Financial commitments

Commitments

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

	2021		2020
	£		£
- within one year	11,222		1,300
- between one and five years	18,338		4,550
	29,560		5,850

14. Related party transactions

Transactions with entities in which the entity itself has a participating interest

	2021		2020
	£		£
Bennachie Lodge Limited	143,243		143,683

Mr and Mrs Murphy are Directors of Bennachie Lodge Limited.

15. Ultimate controlling party

The directors ultimately control the Company by virtue of the fact that they own 100% of the issued share capital