Registered number
09658298
DRAGONFLY GRAPHIC DESIGN LIMITED
Filleted Accounts
31 July 2023
DRAGONFLY GRAPHIC DESIGN LIMITED
Registered number: 09658298
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 3,698 4,894
Current assets
Stocks 3,600 1,600
Debtors 4 11,869 18,502
Cash at bank and in hand 48,179 70,913
63,648 91,015
Creditors: amounts falling due within one year 5 (4,572) (14,210)
Net current assets 59,076 76,805
Total assets less current liabilities 62,774 81,699
Creditors: amounts falling due after more than one year 6 (12,659) (17,245)
Net assets 50,115 64,454
Capital and reserves
Called up share capital 2 2
Profit and loss account 50,113 64,452
Shareholders' funds 50,115 64,454
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.
M Reid
Director
Approved by the board on 26 October 2023
DRAGONFLY GRAPHIC DESIGN LIMITED
Notes to the Accounts
for the year ended 31 July 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:
Computer equipment 25% per annum of net book value
Office equipment & fixtures 20% per annum of net book value
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.
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Computer Equipment Office Equip & Fixtures Total
£ £ £
Cost
At 1 August 2022 19,367 2,374 21,741
At 31 July 2023 19,367 2,374 21,741
Depreciation
At 1 August 2022 15,015 1,832 16,847
Charge for the year 1,088 108 1,196
At 31 July 2023 16,103 1,940 18,043
Net book value
At 31 July 2023 3,264 434 3,698
At 31 July 2022 4,352 542 4,894
4 Debtors 2023 2022
£ £
Trade debtors 11,132 18,502
Other debtors 737 -
11,869 18,502
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 197 918
Accruals and deferred income 1,350 1,350
Taxation and social security costs 3,025 11,942
4,572 14,210
6 Creditors: amounts falling due after one year 2023 2022
£ £
Directors loans 12,659 17,245
7 Events after the reporting date
There were no material post balance sheet events up to the 26th October 2023, being the date of approval of the financial statements by the board of directors.
8 Other information
DRAGONFLY GRAPHIC DESIGN LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Red Rose Cottage
Englesea Brook
Crewe
Cheshire
CW2 5QW
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