Vision Sign & Digital Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: SC410312 (Scotland)

Unaudited Financial Statements

for the Year Ended 30 September 2023

for

VISION SIGN & DIGITAL LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs R Rennie

Mr J T Rennie

REGISTERED OFFICE:

Block 5 Burns Lane

Chapelhall Ind Est

Airdrie

North Lanarkshire

ML6 8QH

REGISTERED NUMBER:

SC410312 (Scotland)

ACCOUNTANTS:

WDM Associates

Oakfield House

378 Brandon Street

Motherwell

ML1 1XA

FIXED ASSETS

Tangible assets

4

69,556

101,921

CURRENT ASSETS

Stocks

5

94,883

90,768

Debtors

6

280,768

132,960

Cash at bank and in hand

236,979

209,379

612,630

433,107

CREDITORS

Amounts falling due within one year

7

226,166

141,357

NET CURRENT ASSETS

386,464

291,750

TOTAL ASSETS LESS CURRENT LIABILITIES

456,020

393,671

CREDITORS

Amounts falling due after more than one year

8

55,912

77,769

NET ASSETS

400,108

315,902

CAPITAL AND RESERVES

Called up share capital

1,040

1,040

Retained earnings

399,068

314,862

SHAREHOLDERS' FUNDS

400,108

315,902

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 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.

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 5 April 2024 and were signed on its behalf by:

Mr J T Rennie - Director

Mrs R Rennie - Director

1.	STATUTORY INFORMATION

Vision Sign & Digital Ltd is a private company, limited by shares , registered in Scotland. 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.

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

-

20% on cost

Motor vehicles

-

20% on cost

Computer equipment

-

20% on cost

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Basic financial instruments

Basic financial instruments, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost.

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 12 (2022 - 13 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 October 2022

106,742

104,706

1,541

212,989

Additions

3,600

-

626

4,226

At 30 September 2023

110,342

104,706

2,167

217,215

DEPRECIATION

At 1 October 2022

57,059

53,547

462

111,068

Charge for year

15,311

20,941

339

36,591

At 30 September 2023

72,370

74,488

801

147,659

NET BOOK VALUE

At 30 September 2023

37,972

30,218

1,366

69,556

At 30 September 2022

49,683

51,159

1,079

101,921

5.

STOCKS

2023

2022

£

£

Stocks

10,231

18,270

Work-in-progress

84,652

72,498

94,883

90,768

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

280,768

132,960

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Other loans

10,000

10,000

Hire purchase contracts

11,036

16,321

Trade creditors

87,694

46,665

Tax

48,338

28,637

Social security and other taxes

1,855

1,123

Pension

1,829

1,466

VAT

32,720

19,524

Other creditors

1,718

145

Accrued expenses

30,976

17,476

226,166

141,357

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Other loans - 1-2 years

10,000

9,640

Other loans - 2-5 years

8,334

18,693

Hire purchase contracts

37,578

49,436

55,912

77,769

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr J T Rennie.