Company registration number 11843013 (England and Wales)
Prosigns and Graphics Southwest Ltd
Unaudited
Financial Statements
for the year ended 31 March 2022
PAGES FOR FILING WITH REGISTRAR
Prosigns and Graphics Southwest Ltd
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 5
Prosigns and Graphics Southwest Ltd
Statement of Financial Position
as at 31 March 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
3
12,260
12,791
Current assets
Stocks
1,750
620
Debtors
4
11,443
9,393
Cash at bank and in hand
1,412
1,031
14,605
11,044
Creditors: amounts falling due within one year
5
(15,437)
(15,937)
Net current liabilities
(832)
(4,893)
Total assets less current liabilities
11,428
7,898
Creditors: amounts falling due after more than one year
6
(9,528)
(8,500)
Net assets/(liabilities)
1,900
(602)
Capital and reserves
Called up share capital
7
1
1
Profit and loss reserves
1,899
(603)
Total equity
1,900
(602)
Prosigns and Graphics Southwest Ltd
Statement of Financial Position (continued)
as at 31 March 2022
- 2 -
The director of the company has elected not to include a copy of the income statement within the financial statements.
true
For the financial year ended 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 21 July 2022
T J Nott
Director
Company Registration No. 11843013
Prosigns and Graphics Southwest Ltd
Notes to the Financial Statements
for the year ended 31 March 2022
- 3 -
1
Accounting policies
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
. Turnover is recognised upon the provision of goods and services.
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost
less depreciation.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
15% reducing balance
Motor vehicles
25 % reducing balance
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
Government grants
Government grants relate to Coronavirus Job Retention Scheme (CJRS) funding of staff who have been furloughed due to Covid-19. These revenue-based grants are recognised over the same period in which the related costs are incurred.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
2
2
Prosigns and Graphics Southwest Ltd
Notes to the Financial Statements (continued)
for the year ended 31 March 2022
- 4 -
3
Tangible fixed assets
Fixtures and fittings
Motor vehicles
Total
£
£
£
Cost
At 1 April 2021
16,131
3,000
19,131
Additions
1,280
1,280
At 31 March 2022
17,411
3,000
20,411
Depreciation and impairment
At 1 April 2021
4,840
1,500
6,340
Depreciation charged in the year
1,577
234
1,811
At 31 March 2022
6,417
1,734
8,151
Carrying amount
At 31 March 2022
10,994
1,266
12,260
At 31 March 2021
11,291
1,500
12,791
4
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
5,147
Other debtors
6,296
9,393
11,443
9,393
5
Creditors: amounts falling due within one year
2022
2021
£
£
Bank loans
1,500
Trade creditors
3,737
1,737
Other creditors
10,700
11,700
Accruals and deferred income
1,000
1,000
15,437
15,937
6
Creditors: amounts falling due after more than one year
2022
2021
£
£
Bank loans and overdrafts
9,528
8,500
Prosigns and Graphics Southwest Ltd
Notes to the Financial Statements (continued)
for the year ended 31 March 2022
- 5 -
7
Called up share capital
2022
2021
2022
2021
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1
1
1
1
8
Company information
Prosigns and Graphics Southwest Ltd is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
Unit 1 Buttlands Ind Estate, Totnes Road, Ipplepen, Newton Abbot, Devon, TQ12 5UE.