2023-04-012024-03-312024-03-31false05405460GRAPHICS ARCHITECTURAL SERVICES 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GRAPHICS ARCHITECTURAL SERVICES LIMITED

Registered Number
05405460
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

GRAPHICS ARCHITECTURAL SERVICES LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Director

SORSBY, Gary Andrew

Registered Address

31 Browsfield Road
Addingham
Ilkley
LS29 0TF

Registered Number

05405460 (England and Wales)
GRAPHICS ARCHITECTURAL SERVICES LIMITED
Statement of Financial Position
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets4-807
-807
Current assets
Stocks5-64
Debtors6-12,921
Cash at bank and on hand9,64810,599
9,64823,584
Creditors amounts falling due within one year7(8,878)(5,360)
Net current assets (liabilities)77018,224
Total assets less current liabilities77019,031
Net assets77019,031
Capital and reserves
Called up share capital11
Profit and loss account76919,030
Shareholders' funds77019,031
The financial statements were approved and authorised for issue by the Director on 29 April 2024, and are signed on its behalf by:
SORSBY, Gary Andrew
Director
Registered Company No. 05405460
GRAPHICS ARCHITECTURAL SERVICES LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
The directors believe that the company has adequate resources to continue in operational existence for the foreseeable future. The company continues to have the support of the directors, shareholders, and creditors and therefore continues to adopt the going concern basis of accounting in preparing the financial statements.
Turnover policy
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 rendering of services. 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.
Employee benefits
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
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.
Intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. Amortisation is provided at the following rates: Goodwill - 20% Straight line
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. The assets’ residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Fixtures and fittings4
Office Equipment4
Finance leases and hire purchase contracts
Payments made under operating leases are charged to the Income Statement on a straight line basis over the lease term.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to completed the sale. The impairment loss is recognised immediately in the Income Statement.
Financial instruments
The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
2.Average number of employees

20242023
Average number of employees during the year11
3.Intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Goodwill

Total

££
Cost or valuation
At 01 April 2330,00030,000
At 31 March 2430,00030,000
Amortisation and impairment
At 01 April 2330,00030,000
At 31 March 2430,00030,000
Net book value
At 31 March 24--
At 31 March 23--
4.Tangible fixed assets

Fixtures & fittings

Office Equipment

Total

£££
Cost or valuation
At 01 April 235896,5307,119
Disposals(589)(6,530)(7,119)
Depreciation and impairment
At 01 April 235895,7236,312
Charge for year-404404
On disposals(589)(6,127)(6,716)
Net book value
At 31 March 24---
At 31 March 23-807807
5.Stocks

2024

2023

££
Work in progress-64
Total-64
6.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables-8,242
Other debtors-3,840
Prepayments and accrued income-839
Total-12,921
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables1395
Taxation and social security2683,451
Other creditors-117
Accrued liabilities and deferred income8,5971,697
Total8,8785,360
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
8.Pension commitments
The pension cost charge represents contributions payable by the company to the fund and amounted to £12,400 (2023 - £12,400).
9.Related party transactions
Included within other creditors, amount falling due within one year, is an amount of £Nil (2023 - £115) due to G A Sorsby. This amount is interest free and repayable on demand.