Prime Signs UK Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04710377 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2021

for

Prime Signs UK Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountants

7

DIRECTOR:

M Richards

SECRETARY:

Mrs J Richards

REGISTERED OFFICE:

2 Midfield Parade

Mayplace Road East

Bexleyheath

Kent

DA7 6NA

REGISTERED NUMBER:

04710377 (England and Wales)

ACCOUNTANTS:

OAKS

Accountants

69 Bexley High Street

Bexley

Kent

DA5 1AA

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

31,967

25,589

31,967

25,589

CURRENT ASSETS

Stocks

2,000

2,000

Debtors

6

55,281

83,229

Cash at bank and in hand

13,992

2,010

71,273

87,239

CREDITORS

Amounts falling due within one year

7

64,543

59,725

NET CURRENT ASSETS

6,730

27,514

TOTAL ASSETS LESS CURRENT LIABILITIES

38,697

53,103

CREDITORS

Amounts falling due after more than one year

8

28,013

28,804

NET ASSETS

10,684

24,299

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

10,682

24,297

SHAREHOLDERS' FUNDS

10,684

24,299

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 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 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 9 December 2021 and were signed by:

M Richards - Director

1.	STATUTORY INFORMATION

Prime Signs UK 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, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of five years.

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.

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 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 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.

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 5 (2020 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2020

and 31 March 2021

16,000

AMORTISATION

At 1 April 2020

and 31 March 2021

16,000

NET BOOK VALUE

At 31 March 2021

-

At 31 March 2020

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2020

69,533

Additions

14,546

Disposals

(4,850

)

At 31 March 2021

79,229

DEPRECIATION

At 1 April 2020

43,944

Charge for year

7,701

Eliminated on disposal

(4,383

)

At 31 March 2021

47,262

NET BOOK VALUE

At 31 March 2021

31,967

At 31 March 2020

25,589

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Trade debtors

32,245

41,774

Other debtors

23,036

41,455

55,281

83,229

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Bank loans and overdrafts

7,313

627

Trade creditors

8,427

7,302

Taxation and social security

28,354

27,324

Other creditors

20,449

24,472

64,543

59,725

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.21

31.3.20

£

£

Bank loans

3,013

6,898

Other creditors

25,000

21,906

28,013

28,804

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

2,808

Bank loan for Van

3,013

4,090

3,013

6,898

The following reproduces the text of the report prepared for the director 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 Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 March 2021 set out on pages nil to nil and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

OAKS

Accountants

69 Bexley High Street

Bexley

Kent

DA5 1AA

9 December 2021