Registration number:
FSA Sign Installations Limited
for the Year Ended 31 August 2019
Accountants
XL House
Mill Court
Spindle Way
Crawley
West Sussex
RH10 1TT
FSA Sign Installations Limited
Contents
Company Information |
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Accountants' Report |
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Balance Sheet |
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Notes to the Financial Statements |
FSA Sign Installations Limited
Company Information
Directors |
Mr P R Lucas Ms K D Newman |
Registered office |
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Accountants |
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Page 1 |
Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
FSA Sign Installations Limited
for the Year Ended 31 August 2019
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of FSA Sign Installations Limited for the year ended 31 August 2019 as set out on pages 3 to 10 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of FSA Sign Installations Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of FSA Sign Installations Limited and state those matters that we have agreed to state to the Board of Directors of FSA Sign Installations Limited, as a body, in this report and for no other reason. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than FSA Sign Installations Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that FSA Sign Installations Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of FSA Sign Installations Limited. You consider that FSA Sign Installations Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of FSA Sign Installations Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
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Accountants
Mill Court
Spindle Way
Crawley
West Sussex
RH10 1TT
Page 2 |
FSA Sign Installations Limited
(Registration number: 04267371)
Balance Sheet as at 31 August 2019
Note |
2019 |
2018 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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For the financial year ending 31 August 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
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• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Page 3 |
FSA Sign Installations Limited
(Registration number: 04267371)
Balance Sheet as at 31 August 2019
Approved and authorised by the
.........................................
Mr P R Lucas
Director
Page 4 |
FSA Sign Installations Limited
Notes to the Financial Statements for the Year Ended 31 August 2019
General information |
The company is a private company limited by share capital incorporated in England & Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Plant and machinery |
25% per annum - reducing balance basis |
Motor vehicles |
25% per annum - reducing balance basis |
Computer equipment |
33% per annum - straight line basis |
Freehold property |
4% per annum - straight line basis |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Page 5 |
FSA Sign Installations Limited
Notes to the Financial Statements for the Year Ended 31 August 2019
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Page 6 |
FSA Sign Installations Limited
Notes to the Financial Statements for the Year Ended 31 August 2019
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Tangible assets |
Freehold land and buildings |
Motor vehicles |
Other tangibles |
Plant and machinery |
Total |
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Cost or valuation |
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At 1 September 2018 |
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Additions |
- |
- |
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- |
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At 31 August 2019 |
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Depreciation |
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At 1 September 2018 |
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Charge for the year |
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At 31 August 2019 |
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Carrying amount |
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At 31 August 2019 |
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At 31 August 2018 |
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Included within the net book value of land and buildings above is £2,400 (2018 - £2,520) in respect of freehold land and buildings.
Page 7 |
FSA Sign Installations Limited
Notes to the Financial Statements for the Year Ended 31 August 2019
Debtors |
2019 |
2018 |
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Trade debtors |
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Other debtors |
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Total current trade and other debtors |
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Creditors |
Note |
2019 |
2018 |
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Due within one year |
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Bank loans and other borrowings |
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Taxation and social security |
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Other creditors |
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Loans and borrowings |
2019 |
2018 |
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Current loans and borrowings |
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Other borrowings |
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Dividends |
Final dividends paid
2019 |
2018 |
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Final dividend of £120 per each |
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Page 8 |
FSA Sign Installations Limited
Notes to the Financial Statements for the Year Ended 31 August 2019
Related party transactions |
Transactions with directors |
2019 |
At 1 September 2018 |
Advances to directors |
Other payments made to company by director |
At 31 August 2019 |
Mr P R Lucas |
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Interest free loan |
(6,633) |
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(1,152) |
( |
Ms K D Newman |
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Interest free loan |
(806) |
- |
- |
( |
2018 |
At 1 September 2017 |
Advances to directors |
Other payments made to company by director |
At 31 August 2018 |
Mr P R Lucas |
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Interest free loan |
(1,007) |
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(6,742) |
( |
Ms K D Newman |
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Interest free loan |
(146) |
- |
(660) |
( |
Directors' remuneration
The directors' remuneration for the year was as follows:
2019 |
2018 |
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Remuneration |
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Contributions paid to money purchase schemes |
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16,265 |
16,125 |
During the year the number of directors who were receiving benefits and share incentives was as follows:
2019 |
2018 |
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Accruing benefits under defined benefit pension scheme |
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Page 9 |
FSA Sign Installations Limited
Notes to the Financial Statements for the Year Ended 31 August 2019
Dividends paid to directors |
2019 |
2018 |
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Mr P R Lucas |
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Ordinary shares |
9,120 |
9,120 |
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Ms K D Newman |
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Ordinary shares |
2,880 |
2,880 |
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Page 10 |