Company Registration No. 11843013 (England and Wales)
Prosigns and Graphics Southwest Ltd
Unaudited
Financial Statements
for the year ended 31 March 2021
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 2021
- 1 -
2021
2020
Notes
£
£
£
£
Fixed assets
Tangible assets
3
12,791
15,916
Current assets
Stocks
620
300
Debtors
4
9,393
6,292
Cash at bank and in hand
1,031
11,044
6,592
Creditors: amounts falling due within one year
5
(15,937)
(23,500)
Net current liabilities
(4,893)
(16,908)
Total assets less current liabilities
7,898
(992)
Creditors: amounts falling due after more than one year
6
(8,500)
Net liabilities
(602)
(992)
Capital and reserves
Called up share capital
7
1
1
Profit and loss reserves
(603)
(993)
Total equity
(602)
(992)
Prosigns and Graphics Southwest Ltd
Statement Of Financial Position (continued)
as at 31 March 2021
- 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 2021 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 by the board of directors and authorised for issue on 15 November 2021 and are signed on its behalf by:
T J Nott
Director
Company Registration No. 11843013
Prosigns and Graphics Southwest Ltd
Notes to the financial statements
for the year ended 31 March 2021
- 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:
2021
2020
Number
Number
Total
2
2
Prosigns and Graphics Southwest Ltd
Notes to the financial statements (continued)
for the year ended 31 March 2021
- 4 -
3
Tangible fixed assets
Fixtures and fittings
Motor vehicles
Total
£
£
£
Cost
At 1 April 2020 and 31 March 2021
16,131
3,000
19,131
Depreciation and impairment
At 1 April 2020
2,465
750
3,215
Depreciation charged in the year
2,375
750
3,125
At 31 March 2021
4,840
1,500
6,340
Carrying amount
At 31 March 2021
11,291
1,500
12,791
At 31 March 2020
13,666
2,250
15,916
4
Debtors
2021
2020
Amounts falling due within one year:
£
£
Other debtors
9,393
6,292
5
Creditors: amounts falling due within one year
2021
2020
£
£
Bank loans
1,500
Trade creditors
1,737
Other creditors
11,700
22,500
Accruals and deferred income
1,000
1,000
15,937
23,500
6
Creditors: amounts falling due after more than one year
2021
2020
£
£
Bank loans
8,500
7
Called up share capital
2021
2020
Ordinary share capital
£
£
Issued and fully paid
Ordinary shares of £1 each
1
1
Prosigns and Graphics Southwest Ltd
Notes to the financial statements (continued)
for the year ended 31 March 2021
- 5 -
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.