Sign Wizzard Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07495946 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2021

for

Sign Wizzard Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

8

DIRECTORS:

M A Talbott

Mrs D J Talbott

REGISTERED OFFICE:

4 Claridge Court

Lower Kings Road

Berkhamsted

Hertfordshire

HP4 2AF

REGISTERED NUMBER:

07495946 (England and Wales)

ACCOUNTANTS:

Haines Watts

4 Claridge Court

Lower Kings Road

Berkhamsted

Hertfordshire

HP4 2AF

FIXED ASSETS

Tangible assets

5

39,471

23,669

CURRENT ASSETS

Stocks

9,554

6,450

Debtors

19,218

31,103

Cash at bank and in hand

21,785

3,769

50,557

41,322

CREDITORS

Amounts falling due within one year

38,372

46,433

NET CURRENT ASSETS/(LIABILITIES)

12,185

(5,111

)

TOTAL ASSETS LESS CURRENT LIABILITIES

51,656

18,558

CREDITORS

Amounts falling due after more than one year

6

(38,850

)

(13,851

)

PROVISIONS FOR LIABILITIES

(7,339

)

(4,301

)

NET ASSETS

5,467

406

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

5,367

306

SHAREHOLDERS' FUNDS

5,467

406

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2021 in accordance with Section 444(2A) of the Companies Act 2006.

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 26 July 2021 and were signed on its behalf by:

M A Talbott - Director

Mrs D J Talbott - Director

1.	STATUTORY INFORMATION

Sign Wizzard 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The company has been affected by the Covid 19 pandemic and although the full impact of this is currently unknown, the directors are proposing to support the company throughout this time.

Turnover

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

33% on cost, 25% on cost, 20% on cost and 15% on cost

The depreciation rate on motor vehicles had reduced the net book value to a inappropriate value and an adjustment to the rates has been made in these accounts.

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 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.

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.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2020 - 4 ) .

5.	TANGIBLE FIXED ASSETS

Totals

£

COST OR VALUATION

At 1 April 2020

67,745

Additions

27,309

At 31 March 2021

95,054

DEPRECIATION

At 1 April 2020

44,076

Charge for year

11,507

At 31 March 2021

55,583

NET BOOK VALUE

At 31 March 2021

39,471

At 31 March 2020

23,669

Cost or valuation at 31 March 2021 is represented by:

Totals

£

Valuation in 2021

95,054

Fixed assets, included in the above, which are held under finance leases are as follows:

Totals

£

COST OR VALUATION

At 1 April 2020

32,225

Transfer to ownership

(32,225

)

At 31 March 2021

-

DEPRECIATION

At 1 April 2020

27,928

Transfer to ownership

(27,928

)

At 31 March 2021

-

NET BOOK VALUE

At 31 March 2021

-

At 31 March 2020

4,297

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

31.3.21

31.3.20

£

£

Repayable by instalments

Bank loans more 5 yr by instal

22,050

-

7.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Finance leases

31.3.21

31.3.20

£

£

Net obligations repayable:

Within one year

-

3,900

Between one and five years

-

7,850

-

11,750

Non-cancellable

operating leases

31.3.21

31.3.20

£

£

Within one year

10,943

-

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 Balance Sheet. 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 Sign Wizzard Limited for the year ended 31 March 2021 which comprise the Statement of Income and Retained Earnings, Abridged Balance Sheet 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Sign Wizzard 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 Sign Wizzard Limited and state those matters that we have agreed to state to the Board of Directors of Sign Wizzard Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sign Wizzard Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Sign Wizzard 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 Sign Wizzard Limited. You consider that Sign Wizzard 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 Sign Wizzard 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.

Haines Watts

4 Claridge Court

Lower Kings Road

Berkhamsted

Hertfordshire

HP4 2AF

26 July 2021