Rymack Sign Solutions Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 05806281 (England and Wales)

Financial Statements for the Year Ended 31 July 2017

for

Rymack Sign Solutions Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D McMurray

J P Keep

S Bramhall

REGISTERED OFFICE:

Unit 5, Orion Trading Estate

Tenax Road

Trafford Park

Manchester

M17 1JT

REGISTERED NUMBER:

05806281 (England and Wales)

ACCOUNTANTS:

Cobham Murphy Limited

116 Duke Street

Liverpool

Merseyside

L1 5JW

FIXED ASSETS

Tangible assets

4

156,063

243,675

Investments

5

1,494,416

-

1,650,479

243,675

CURRENT ASSETS

Stocks

37,786

34,251

Debtors

6

994,950

1,540,390

Cash at bank and in hand

13,003

11,701

1,045,739

1,586,342

CREDITORS

Amounts falling due within one year

7

1,427,537

1,241,322

NET CURRENT (LIABILITIES)/ASSETS

(381,798

)

345,020

TOTAL ASSETS LESS CURRENT LIABILITIES

1,268,681

588,695

CREDITORS

Amounts falling due after more than one year

8

(39,089

)

(91,023

)

PROVISIONS FOR LIABILITIES

(76,720

)

(47,798

)

ACCRUALS AND DEFERRED INCOME

-

(7,537

)

NET ASSETS

1,152,872

442,337

CAPITAL AND RESERVES

Called up share capital

80

80

Capital redemption reserve

20

20

Retained earnings

1,152,772

442,237

SHAREHOLDERS' FUNDS

1,152,872

442,337

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 30 April 2018 and were signed on its behalf by:

D McMurray - Director

1.	STATUTORY INFORMATION

Rymack Sign Solutions 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

There are no judgements (apart from those involving estimates) that have had a significant effect on amounts recognised in

the financial statements.

Turnover

Turnover is measured at fair value of the consideration received or receivable from the supply of signage, excluding

discounts, rebates, valued added tax and other sales taxes.

The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future

economic benefits will flow to the entity and when the risks and rewards of ownership has passed to the customer.

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 and 25% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

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

items.

Financial instruments

Directors loans and intercompany loans (being repayable on demand), trade debtors and trade creditors are measured at the

undiscounted amount of the cash or other consideration expected to be paid or received.

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.

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.

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 21 .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 August 2016

581,555

Additions

20,682

At 31 July 2017

602,237

DEPRECIATION

At 1 August 2016

337,880

Charge for year

108,294

At 31 July 2017

446,174

NET BOOK VALUE

At 31 July 2017

156,063

At 31 July 2016

243,675

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 August 2016

and 31 July 2017

358,225

DEPRECIATION

At 1 August 2016

and 31 July 2017

141,805

NET BOOK VALUE

At 31 July 2017

216,420

At 31 July 2016

216,420

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

Additions

1,494,416

At 31 July 2017

1,494,416

NET BOOK VALUE

At 31 July 2017

1,494,416

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.17

31.7.16

£

£

Trade debtors

419,440

549,171

Other debtors

575,510

991,219

994,950

1,540,390

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.17

31.7.16

£

£

Hire purchase contracts

61,689

108,876

Trade creditors

227,792

179,203

Taxation and social security

163,784

120,574

Other creditors

974,272

832,669

1,427,537

1,241,322

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.7.17

31.7.16

£

£

Hire purchase contracts

39,089

91,023

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.7.17

31.7.16

£

£

Hire purchase contracts

100,778

199,899

Factoring account

226,006

287,026

326,784

486,925

10.	TRANSACTIONS WITH DIRECTORS

D McMurray the director operates a current account to which transactions of a private nature are charged. Included in

other debtors at 31st July 2017 is £81,698 (2016 £141 creditor) owed from D McMurray.

11.	RELATED PARTY DISCLOSURES

D McMurray is also a director and shareholder of Rymack Management Company Limited. Included in other debtors at the

31st July 2017 is £175,625 (2016 £171,788) owed from Rymack Management Company Limited. No interest was charged.

D McMurray is also a director and shareholder of GB Sign Solutions Limited. Included in other debtors at the 31st July

2017 is £310,782 (2016 £192,060) owed from GB Sign Solutions Limited. No interest was charged.

D McMurray is also a director and shareholder of Phoenix Fire Inhibitor Limited. Included in other creditors at the 31st

July 2017 is £13,039 (2016 £502,840) owed to Phoenix Fire Inhibitor Limited.No interest was charged.

12.	ULTIMATE CONTROLLING PARTY

D McMurray is the ultimate controlling party.