Registered number
09436314
Essex Graphic Display Ltd
Filleted Accounts
28 February 2023
Essex Graphic Display Ltd
Registered number: 09436314
Balance Sheet
as at 28 February 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 38,227 40,276
Current assets
Stocks 6,000 5,000
Debtors 4 - 25,301
Cash at bank and in hand 46,457 53,638
52,457 83,939
Creditors: amounts falling due within one year 5 (37,520) (50,230)
Net current assets 14,937 33,709
Total assets less current liabilities 53,164 73,985
Creditors: amounts falling due after more than one year 6 (65,343) (73,885)
Provisions for liabilities (6,346) -
Net (liabilities)/assets (18,525) 100
Capital and reserves
Called up share capital 100 100
Profit and loss account (18,625) -
Shareholders' funds (18,525) 100
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
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.
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.
Peter Goldby
Director
Approved by the board on 20 February 2024
Essex Graphic Display Ltd
Notes to the Accounts
for the year ended 28 February 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.
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:
Vehicles 25% reducing balance
Plant and machinery over 4 years
Fixtures, fittings, tools and equipment over 4 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 March 2022 69,386 21,481 90,867
Additions 12,904 - 12,904
At 28 February 2023 82,290 21,481 103,771
Depreciation
At 1 March 2022 42,984 7,607 50,591
Charge for the year 11,485 3,468 14,953
At 28 February 2023 54,469 11,075 65,544
Net book value
At 28 February 2023 27,821 10,406 38,227
At 28 February 2022 26,402 13,874 40,276
4 Debtors 2023 2022
£ £
Other debtors - 7,432
Director's account - 17,869
- 25,301
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 8,351 9,218
Obligations under finance lease and hire purchase contracts 8,245 8,245
Trade creditors 17,292 13,870
Taxation and social security costs (1,801) 18,897
Director's account 5,433 -
37,520 50,230
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 51,778 56,742
Obligations under finance lease and hire purchase contracts 13,565 17,143
65,343 73,885
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Angela Goldby
Directors Loan Account 8,934 (8,934) -
Peter Goldby
Directors Loan Account 8,934 (8,934) -
17,868 - (17,868) -
8 Controlling party
The ultimate controlling parties during the period; Angela Goldby and Peter Goldby
Angela Goldby and Peter Goldby each hold 50% of the issued share capital and are deemed the ultimate controlling paties
9 Other information
Essex Graphic Display Ltd is a private company limited by shares and incorporated in England. Its registered office is:
6 Hunts Yard
Massingham Drive
Earls Colne
Colchester, Essex
CO6 2TD
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