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REGISTERED NUMBER: 08451705 (England and Wales)

















Unaudited Financial Statements

for the Year Ended 31 August 2023

for

Graham Metal Solutions Ltd

Graham Metal Solutions Ltd (Registered number: 08451705)






Contents of the Financial Statements
for the Year Ended 31 August 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Graham Metal Solutions Ltd

Company Information
for the Year Ended 31 August 2023







DIRECTORS: J R Graham
W N Graham





REGISTERED OFFICE: 21 Gold Tops
Newport
South Wales
NP20 4PG





REGISTERED NUMBER: 08451705 (England and Wales)





ACCOUNTANTS: Guilfoyle Sage LLP
21 Gold Tops
Newport
South Wales
NP20 4PG

Graham Metal Solutions Ltd (Registered number: 08451705)

Balance Sheet
31 August 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 206,131 26,631

CURRENT ASSETS
Stocks 42,550 4,125
Debtors 6 136,586 15,721
Cash at bank 135,473 609,673
314,609 629,519
CREDITORS
Amounts falling due within one year 7 35,246 128,920
NET CURRENT ASSETS 279,363 500,599
TOTAL ASSETS LESS CURRENT
LIABILITIES

485,494

527,230

CREDITORS
Amounts falling due after more than one
year

8

(993

)

(4,322

)

PROVISIONS FOR LIABILITIES (3,623 ) (5,200 )
NET ASSETS 480,878 517,708

CAPITAL AND RESERVES
Called up share capital 9 20 20
Retained earnings 480,858 517,688
SHAREHOLDERS' FUNDS 480,878 517,708

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Graham Metal Solutions Ltd (Registered number: 08451705)

Balance Sheet - continued
31 August 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 August 2024 and were signed on its behalf by:





W N Graham - Director


Graham Metal Solutions Ltd (Registered number: 08451705)

Notes to the Financial Statements
for the Year Ended 31 August 2023

1. STATUTORY INFORMATION

Graham Metal Solutions Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Graham Metal Solutions Ltd (Registered number: 08451705)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 3 ) .

Graham Metal Solutions Ltd (Registered number: 08451705)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2022 39,870
Additions 204,003
At 31 August 2023 243,873
DEPRECIATION
At 1 September 2022 13,239
Charge for year 24,503
At 31 August 2023 37,742
NET BOOK VALUE
At 31 August 2023 206,131
At 31 August 2022 26,631

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 September 2022
and 31 August 2023 16,074
DEPRECIATION
At 1 September 2022 4,286
Charge for year 1,607
At 31 August 2023 5,893
NET BOOK VALUE
At 31 August 2023 10,181
At 31 August 2022 11,788

Graham Metal Solutions Ltd (Registered number: 08451705)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade debtors 10,801 14,038
Amounts owed by group undertakings 118,410 -
Other debtors 7,375 1,683
136,586 15,721

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Hire purchase contracts 3,625 3,625
Amounts owed to group undertakings 16,367 79,197
Taxation and social security 11,585 37,832
Other creditors 3,669 8,266
35,246 128,920

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.8.23 31.8.22
£    £   
Hire purchase contracts 993 4,322

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.23 31.8.22
value: £    £   
20 Ordinary 1 20 20

10. RELATED PARTY DISCLOSURES

During the year, the company purchased £364,535 (2022: £323,940) of goods and services and loaned funds of £50,000 (2022: £nil) from Graham Recycling Services Limited, a company under common ownership. The company also made net loans of £159,910 to its parent company Graham Recycling Group Limited (2022 - £41,500 loaned from Graham Recycling Group Limited).

Included on the balance sheet is a balance of £16,367 (2022: £37,697) due to Graham Recycling Services Limited and a balance of £118,410 due from (2022: £41,500 due to) parent company Graham Recycling Group Limited. Both amounts are deemed to be interest free and repayable on demand.