RPG Sign Hire Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01337687 (England and Wales)

Financial Statements

for the Year Ended 30 November 2021

for

RPG Sign Hire Ltd

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

R Colwell

B D Colwell

A J White

I White

J R Hunt

E Hunt

REGISTERED OFFICE:

Chancery House

30 St Johns Road

Woking

Surrey

GU21 7SA

REGISTERED NUMBER:

01337687 (England and Wales)

ACCOUNTANTS:

Barnbrook Sinclair

Chartered Accountants

Chancery House

30 St Johns Road

Woking

Surrey

GU21 7SA

FIXED ASSETS

Property, plant and equipment

5

1,334,352

1,334,763

CURRENT ASSETS

Inventories

32,826

11,385

Debtors

6

263,350

329,056

Cash at bank

307,122

372,830

603,298

713,271

CREDITORS

Amounts falling due within one year

7

(318,124

)

(421,971

)

NET CURRENT ASSETS

285,174

291,300

TOTAL ASSETS LESS CURRENT LIABILITIES

1,619,526

1,626,063

CREDITORS

Amounts falling due after more than one year

8

(619,774

)

(685,444

)

PROVISIONS FOR LIABILITIES

(82,264

)

(82,342

)

NET ASSETS

917,488

858,277

CAPITAL AND RESERVES

Called up share capital

21,099

21,099

Revaluation reserve

10

571,319

571,319

Retained earnings

10

325,070

265,859

SHAREHOLDERS' FUNDS

917,488

858,277

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2021 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 8 March 2022 and were signed on its behalf by:

I White - Director

1.	STATUTORY INFORMATION

RPG Sign Hire Ltd 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Revenue 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

Fixed assets are stated at cost, net of depreciation and any provision for impairment.

Depreciation is provided on all tangible fixed assets at rates calculated to write each asset down to its estimate residual value on a straight line basis over its expected useful life, as follows:-

Freehold land is not depreciated

Freehold property - over 50 years

Computer equipment - 25 % on cost

Fixtures and fittings - 25% on reducing balance

Motor vehicles - 25% on reducing balance

Residual value is calculated on prices prevailing at the reporting date, after estimated costs of disposal, for the asset as if it were at the age and in the condition expected at the end of its useful life.

Revaluation of properties

Properties whose fair value can be measured reliably are held under the revaluation model and carried at a revalued amount, being their fair value at the date of valuation less any subsequent accumulated depreciation and subsequent impairment losses. The fair value of the land and buildings is usually considered to be their market value.

Revaluation gains and losses are recognised in other comprehensive income and accumulated in equity, except to the extent that a revaluation gain reverses a revaluation loss previously recognised in profit or loss or a revaluation loss exceeds the accumulated revaluation gains recognised in equity, such gains and loss are recognised in profit or loss.

Impairment of fixed assets

Fixed assets are reviewed for impairment if events or changes in circumstances indicate that the carrying amount may not be recoverable or as otherwise required by relevant accounting standards.

Shortfalls between the carrying value of fixed assets and their recoverable amounts, being the higher of net realisable value and value-in-use, are recognised as impairments. Impairment losses are recognised in the profit and loss account.

Government grants

During the period the company received a Local Authority Discretionary Grant. Government grants received in relation to expenditure are credited to profit and loss account within other operating income when the expenditure is charged to profit and loss. Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets.

Stocks

Inventories 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2020 - 19 ) .

5.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

Freehold

and

Motor

Computer

property

fittings

vehicles

equipment

Totals

£

£

£

£

£

Cost or valuation

At 1 December 2020

1,200,000

204,517

28,909

40,481

1,473,907

Additions

-

34,117

-

16,809

50,926

Disposals

-

(10,795

)

(23,909

)

(27,362

)

(62,066

)

At 30 November 2021

1,200,000

227,839

5,000

29,928

1,462,767

Depreciation

At 1 December 2020

-

86,644

22,540

29,960

139,144

Charge for year

-

32,679

96

5,153

37,928

Eliminated on disposal

-

(3,374

)

(17,921

)

(27,362

)

(48,657

)

At 30 November 2021

-

115,949

4,715

7,751

128,415

Net book value

At 30 November 2021

1,200,000

111,890

285

22,177

1,334,352

At 30 November 2020

1,200,000

117,873

6,369

10,521

1,334,763

Included in cost or valuation of land and buildings is freehold land of £ 900,000 (2020 - £ 900,000 ) which is not depreciated.

Freehold property was valued on an open market basis by the company's directors on 30 November 2021.

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

Motor

vehicles

£

Cost or valuation

At 1 December 2020

23,909

Transfer to ownership

(23,909

)

At 30 November 2021

-

Depreciation

At 1 December 2020

17,921

Transfer to ownership

(17,921

)

At 30 November 2021

-

Net book value

At 30 November 2021

-

At 30 November 2020

5,988

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/11/21

30/11/20

£

£

Trade debtors

250,081

328,093

Other debtors

13,269

963

263,350

329,056

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/11/21

30/11/20

£

£

Bank loans and overdrafts

48,339

22,477

Hire purchase contracts

-

7,503

Trade creditors

115,209

215,985

Taxation and social security

128,132

142,762

Other creditors

26,444

33,244

318,124

421,971

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30/11/21

30/11/20

£

£

Bank loans

619,774

685,444

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

426,425

481,902

9.	SECURED DEBTS

The following secured debts are included within creditors:

30/11/21

30/11/20

£

£

Bank loans

668,113

707,921

The bank loans are secured on company assets.

10.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

£

£

At 1 December 2020

265,859

571,319

837,178

Profit for the year

232,012

232,012

Dividends

(172,801

)

(172,801

)

At 30 November 2021

325,070

571,319

896,389

11.	OTHER FINANCIAL COMMITMENTS

The company had total guarantees and commitments at the balance sheet date of £92,849 (2020 - £128,321).