Registered number
08008809
Fresh Graphics Limited
Filleted Accounts
31 March 2023
Fresh Graphics Limited
Registered number: 08008809
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 861 1,075
Tangible assets 4 3,046 3,808
3,907 4,883
Current assets
Stocks 5,000 4,500
Debtors 5 2,071 8,542
Cash at bank and in hand 2,282 -
9,353 13,042
Creditors: amounts falling due within one year 6 (7,451) (9,533)
Net current assets 1,902 3,509
Total assets less current liabilities 5,809 8,392
Creditors: amounts falling due after more than one year 7 (4,590) (6,333)
Net assets 1,219 2,059
Capital and reserves
Called up share capital 1 1
Profit and loss account 1,218 2,058
Shareholder's funds 1,219 2,059
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A Geech
Director
Approved by the board on 31 July 2023
Fresh Graphics Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, 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:
Motor vehides over 5 years
Plant and machinery over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Intangible fixed assets £ £
Goodwill:
Cost
At 1 April 2022 10,000 10,000
At 31 March 2023 10,000 10,000
Amortisation
At 1 April 2022 8,925 8,925
Provided during the year 214 214
At 31 March 2023 9,139 9,139
Net book value
At 31 March 2023 861 861
At 31 March 2022 1,075 1,075
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total Total
£ £ £ £
Cost
At 1 April 2022 2,863 9,500 12,363 12,363
At 31 March 2023 2,863 9,500 12,363 12,363
Depreciation
At 1 April 2022 2,363 6,192 8,555 8,555
Charge for the year 100 662 762 762
At 31 March 2023 2,463 6,854 9,317 9,317
Net book value
At 31 March 2023 400 2,646 3,046 3,046
At 31 March 2022 500 3,308 3,808 3,808
5 Debtors 2023 2022
£ £
Trade debtors 2,071 5,605
Other debtors - 2,937
2,071 8,542
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 2,000 4,322
Trade creditors - 567
Taxation and social security costs 4,236 3,429
Other creditors 1,215 1,215
7,451 9,533
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 4,590 6,333
8 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr A Geach
Directors loan account 2,937 24,700 (27,574) -
2,937 24,700 (27,574) -
9 Other information
Fresh Graphics Limited is a private company limited by shares and incorporated in England. Its registered office is:
13 Granville Aveneue
Cardiff
CF5 1BW
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