Standard Signs & Traffic Systems Limited Filleted accounts for Companies House (small and micro)
Standard Signs & Traffic Systems Limited Filleted accounts for Companies House (small and micro)
COMPANY REGISTRATION NUMBER:
01691783
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FINANCIAL STATEMENTS |
Year ended 30 September 2022
CONTENTS |
PAGE |
Balance sheet |
1 |
Notes to the financial statements |
3 |
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BALANCE SHEET |
2022 |
2021 |
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Note |
£ |
£ |
FIXED ASSETS
Tangible assets |
5 |
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Investments |
6 |
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CURRENT ASSETS
Stocks |
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Debtors |
7 |
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Cash at bank and in hand |
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CREDITORS: amounts falling due within one year |
8 |
(
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(
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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CREDITORS: amounts falling due after more than one year |
9 |
(
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(
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PROVISIONS |
(
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(
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NET ASSETS |
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CAPITAL AND RESERVES
Called up share capital |
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Revaluation reserve |
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Profit and loss account |
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SHAREHOLDERS FUNDS |
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In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
Directors' responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
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BALANCE SHEET (continued) |
These financial statements were approved by the
board of directors
and authorised for issue on
26 June 2023
, and are signed on behalf of the board by:
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Director |
Company registration number:
01691783
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NOTES TO THE FINANCIAL STATEMENTS |
Year ended 30 September 2022
1.
GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Olympic House, Herbert Road, Newport, South Wales, NP19 7BH.
2.
STATEMENT OF COMPLIANCE
3.
ACCOUNTING POLICIES
Basis of preparation
Turnover
Taxation
Foreign currencies
Operating leases
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property |
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Plant and machinery |
- |
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Fixtures and fittings |
- |
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Motor vehicles |
- |
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Investment property
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in joint ventures
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Finance leases and hire purchase contracts
Government grants
Provisions
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
4.
EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to
15
(2021:
17
).
5.
TANGIBLE ASSETS
Freehold property |
Plant and machinery |
Fixtures and fittings |
Motor vehicles |
Total |
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£ |
£ |
£ |
£ |
£ |
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Cost |
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At 1 October 2021 |
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Additions |
– |
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– |
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Disposals |
– |
– |
– |
(
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(
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At 30 September 2022 |
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Depreciation |
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At 1 October 2021 |
– |
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Charge for the year |
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Disposals |
– |
– |
– |
(
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(
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--------- |
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At 30 September 2022 |
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Carrying amount |
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At 30 September 2022 |
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At 30 September 2021 |
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The company's freehold property was valued on 30 September 2022 by the directors. The valuation is based on open market value.
Tangible assets held at valuation
In respect of tangible assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:
Freehold property |
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£ |
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At 30 September 2022 |
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Aggregate cost |
285,728 |
Aggregate depreciation |
(162,671) |
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Carrying value |
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At 30 September 2021 |
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Aggregate cost |
285,728 |
Aggregate depreciation |
(156,956) |
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Carrying value |
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Finance leases and hire purchase contracts
Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:
Plant and machinery |
Motor vehicles |
Total |
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£ |
£ |
£ |
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At 30 September 2022 |
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At 30 September 2021 |
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6.
INVESTMENTS
Shares in group undertakings |
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£ |
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Cost |
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At 1 October 2021 and 30 September 2022 |
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Impairment |
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At 1 October 2021 and 30 September 2022 |
– |
-------- |
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Carrying amount |
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At 30 September 2022 |
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-------- |
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At 30 September 2021 |
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7.
DEBTORS
2022 |
2021 |
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£ |
£ |
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Trade debtors |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
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Other debtors |
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8.
CREDITORS:
amounts falling due within one year
2022 |
2021 |
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£ |
£ |
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Bank loans and overdrafts |
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Trade creditors |
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Social security and other taxes |
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Other creditors |
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Included within other creditors is an amount of £196,925 (2021 - £237,727) secured on trade debtors. Also included within other creditors is an amount of £34,741 (2021 - £23,349) in respect of hire purchase agreements that are secured on the assets to which they relate. The bank loan is secured against the freehold property.
9.
CREDITORS:
amounts falling due after more than one year
2022 |
2021 |
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£ |
£ |
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Bank loans and overdrafts |
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Other creditors |
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Included within other creditors is an amount of £181,014 (2021 - £95,904) in respect of hire purchase agreements that are secured on the assets to which they relate. The bank loan is secured against the freehold property.
10.
OPERATING LEASES
The total future minimum lease payments under non-cancellable operating leases are as follows:
2022 |
2021 |
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£ |
£ |
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Not later than 1 year |
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Later than 1 year and not later than 5 years |
– |
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11.
DIRECTORS' ADVANCES, CREDITS AND GUARANTEES
Included within other creditors is £9,750 (2021 - £10,024) due to directors. The balance is interest free and repayable on demand.
12.
RELATED PARTY TRANSACTIONS
In accordance with FRS 102, transactions with companies that are wholly owned members within the group are not disclosed. Included within other debtors is £16,716 (2021 - £16,137) due from company related by common directorship.
13.
CONTROLLING PARTY
In the opinion of the directors the ultimate parent company is Standard Signs Systems Limited, a company registered in England and Wales.