RPG Sign Hire Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 01337687 (England and Wales)

Financial Statements

for the Year Ended 30 November 2023

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

1,323,391

1,343,672

CURRENT ASSETS

Inventories

54,028

51,679

Debtors

6

376,086

342,124

Cash at bank

157,694

163,810

587,808

557,613

CREDITORS

Amounts falling due within one year

7

(332,195

)

(275,184

)

NET CURRENT ASSETS

255,613

282,429

TOTAL ASSETS LESS CURRENT LIABILITIES

1,579,004

1,626,101

CREDITORS

Amounts falling due after more than one year

8

(516,269

)

(580,741

)

PROVISIONS FOR LIABILITIES

(105,095

)

(84,035

)

NET ASSETS

957,640

961,325

CAPITAL AND RESERVES

Called up share capital

21,099

21,099

Revaluation reserve

10

553,402

571,319

Retained earnings

10

383,139

368,907

SHAREHOLDERS' FUNDS

957,640

961,325

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 20 March 2024 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.

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

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 22 (2022 - 21 ) .

5.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

Freehold

and

Motor

Computer

property

fittings

vehicles

equipment

Totals

£

£

£

£

£

Cost or valuation

At 1 December 2022

1,200,000

277,818

5,000

29,928

1,512,746

Additions

-

22,338

15,552

3,840

41,730

Disposals

-

(28,215

)

(15,552

)

-

(43,767

)

At 30 November 2023

1,200,000

271,941

5,000

33,768

1,510,709

Depreciation

At 1 December 2022

-

149,052

4,786

15,236

169,074

Charge for year

-

35,621

48

6,290

41,959

Eliminated on disposal

-

(23,715

)

-

-

(23,715

)

At 30 November 2023

-

160,958

4,834

21,526

187,318

Net book value

At 30 November 2023

1,200,000

110,983

166

12,242

1,323,391

At 30 November 2022

1,200,000

128,766

214

14,692

1,343,672

Included in cost or valuation of land and buildings is freehold land of £ 900,000 (2022 - £ 900,000 ) which is not depreciated.

Freehold property was valued on an open market basis by the company's directors on 30 November 2023.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/11/23

30/11/22

£

£

Trade debtors

355,361

335,135

Other debtors

20,725

6,989

376,086

342,124

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/11/23

30/11/22

£

£

Bank loans and overdrafts

56,706

56,706

Hire purchase contracts

6,107

5,603

Trade creditors

120,379

85,713

Taxation and social security

140,828

114,999

Other creditors

8,175

12,163

332,195

275,184

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30/11/23

30/11/22

£

£

Bank loans

496,341

554,702

Hire purchase contracts

19,928

26,039

516,269

580,741

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

320,837

357,879

9.	SECURED DEBTS

The following secured debts are included within creditors:

30/11/23

30/11/22

£

£

Bank loans

553,047

611,408

The bank loans are secured on company assets.

10.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

£

£

At 1 December 2022

368,907

571,319

940,226

Profit for the year

211,232

211,232

Dividends

(197,000

)

(197,000

)

Revaluation reserve

-

(17,917

)

(17,917

)

At 30 November 2023

383,139

553,402

936,541

11.	OTHER FINANCIAL COMMITMENTS

The company had total guarantees and commitments at the balance sheet date of £229,200 (2022 - £160,951).