Graftyset Limited


FINANCIAL STATEMENTS


for the year ended 31st December 2022



Graftyset Limited

CONTENTS

for the year ended 31st December 2022







The Accounts are comprised of the following:

Statement of Financial Position

Notes to the Accounts



Please note that the Accounts comprise of HTML and iXBRL source code and that this is a printed or visual representation of that source code some of which will not be displayed or printed.

Graftyset Limited

Company No. 04952509

STATEMENT OF FINANCIAL POSITION

as at 31st December 2022

20222021
Note£££
FIXED ASSETS
Property, plant and equipment41369715923
Financial assets321120321120
334817337043
CURRENT ASSETS
Debtors5177737531
177737531
CURRENT LIABILITIES
Creditors: amounts falling due
within one year612885381287766
NET CURRENT LIABILITIES(1270765)(1280235)
TOTAL ASSETS LESS CURRENT LIABILITIES(935948)(943192)
 
Creditors: amounts falling due
after more than one year--
 
NET ASSETS(935948)(943192)
 
CAPITAL AND RESERVES
Called up share capital2500025000
Retained earnings(960948)(968192)
SHAREHOLDERS FUNDS(935948)(943192)

The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies which are subject to the small companies' regime. The Income Statement has not been delivered to the Registrar of Companies.

For the year ended 31st December 2022 the Company is entitled to the exemption from the requirement to obtain an audit conferred by section 477 of the Companies Act 2006 and the members have not required the company to obtain an audit in accordance with section 476 of the Act.

The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

Approved by the Board on 30 September 2023


B Velge

Director

Company Number 04952509 (England)

Graftyset Limited

NOTES TO THE ACCOUNTS

for the year ended 31st December 2022


1   Statutory information

Graftyset Limited is a private company limited by shares and registered under company number 04952509 in England. Its registered office address is 12 Hatherley Road, Sidcup, Kent, DA14 4DT.

These financial statements are presented in Sterling, which is the functional currency of the company.

2   Accounting policies

Basis of preparation of financial statements

The accounts have been prepared under the historical cost convention in accordance with the accounting policies set out below, and in accordance with Financial Reporting Standard 102 Section 1A and the Companies Act 2006.

Income Recognition

Revenue is measured at the fair value of the consideration received or receivable. Turnover is shown net of value added tax, returns, rebates and discounts. Revenue is recognised for the sale of goods when the vendor has transferred the significant risks and rewards of ownership, it is possible that the economic benefit will flow to the entity and the revenue and associated costs can be reliably measured.

Depreciation

Depreciation is provided on all property, plant and equipment, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

Plant, machinery and vehicles15% - 25% reducing balance

Leasing

Assets, obtained under hire purchase contracts and finance leases, are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account on a straight line basis.

Foreign Currencies

Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the reporting date. All differences are taken to the Income Statement. Non-monetary assets and liabilities that are measured in terms of historical cost in a foreign currency are translated using the exchange rate at the date of the transaction.

3   Employee information

The average number of employees during the accounting period was 1 (2021 - 1).

4   Property, plant and equipment
 
Plant
and
MachineryTotal
££
Cost
At 1st January 2022 6568165681
Additions191191
At 31st December 20226587265872
 
Depreciation
At 1st January 2022 4975849758
Charge for year24172417
At 31st December 20225217552175
 
Net Book Value
At 31st December 20221369713697
At 31st December 20211592315923

5   Debtors20222021
££
 
Trade Debtors177737531
177737531

6   Creditors: amounts falling due within one year20222021
££
 
Loans and Overdrafts5885917544
Trade Creditors5170752532
Taxes and social security costs19192370
Other creditors11749081214175
Accruals and deferred income11451145
12885381287766

7   Transactions with Directors

There were no transactions with Directors except as reflected in the Director's loan account for each Director. The closing balances of each account are as detailed below. Credit balances are shown without brackets. These balances are included in the figure for "Creditors and Accruals" in the accounts. Overdrawn balances are included in the figure for "Other Debtors".

20222021
££
 
B Velge539181617401
539181617401

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