Freestyle Sign & Graphics Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 03842776

Financial Statements for the Year Ended 31 March 2023

for

Freestyle Sign & Graphics Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J McKeown

B Noon

S R Noon

REGISTERED OFFICE:

2 Regal Close

Kings Park Road

Moulton Park

Northampton

Northamptonshire

NN3 6LL

REGISTERED NUMBER:

03842776

AUDITORS:

CED Accountancy Services Limited

Statutory Auditors

Chartered Accountants

1 Lucas Bridge Business Park

1 Old Greens Norton Road

Towcester

Northamptonshire

NN12 8AX

FIXED ASSETS

Tangible assets

3

56,616

77,895

CURRENT ASSETS

Stocks

-

1,000

Debtors

94,357

121,015

Cash at bank

110,758

51,779

205,115

173,794

CREDITORS

Amounts falling due within one year

106,880

107,780

NET CURRENT ASSETS

98,235

66,014

TOTAL ASSETS LESS CURRENT LIABILITIES

154,851

143,909

CAPITAL AND RESERVES

Called up share capital

6

6

Retained earnings

154,845

143,903

SHAREHOLDERS' FUNDS

154,851

143,909

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 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 December 2023 and were signed on its behalf by:

B Noon - Director

1.	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.

These are the first financial statements of the Company to be audited, and thus the comparatives were not audited. The auditors refer to this fact in their audit report.

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.

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

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.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 6 ) .

3.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2022

and 31 March 2023

240,622

DEPRECIATION

At 1 April 2022

162,727

Charge for year

21,279

At 31 March 2023

184,006

NET BOOK VALUE

At 31 March 2023

56,616

At 31 March 2022

77,895

4.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Duncan Mitchell FCA (Senior Statutory Auditor)

for and on behalf of CED Accountancy Services Limited

5.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is BSN Holdings Ltd, registered office Unit 10 New Rookery Farm, Little London, Silverstone, Northamptonshire, NN12 8UP.