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REGISTERED NUMBER: 01229842 (England and Wales)















Strategic Report, Directors' Report and

Financial Statements for the Year Ended 31st December 2023

for

Vinyl Graphics Limited

Vinyl Graphics Limited (Registered number: 01229842)






Contents of the Financial Statements
for the Year Ended 31st December 2023




Page

Company Information 1

Strategic Report 2

Directors' Report 4

Independent Auditors' Report 6

Statement of Income and Retained Earnings 10

Statement of Financial Position 11

Statement of Cash Flows 12

Notes to the Statement of Cash Flows 13

Notes to the Financial Statements 15


Vinyl Graphics Limited

Company Information
for the Year Ended 31st December 2023







DIRECTORS: S Ayerst
M Ayerst
R Dadd
M Elen
D Field



SECRETARY: G Makepeace



REGISTERED OFFICE: 268 Elgar Road South
Reading
Berkshire
RG2 0BT



REGISTERED NUMBER: 01229842 (England and Wales)



SENIOR STATUTORY
AUDITOR:
Iain McMurray ACA



AUDITORS: Thickbroom Coventry
Chartered Accountants
and Statutory Auditors
147a High Street
Waltham Cross
Hertfordshire
EN8 7AP

Vinyl Graphics Limited (Registered number: 01229842)

Strategic Report
for the Year Ended 31st December 2023

The directors present their strategic report for the year ended 31st December 2023.

REVIEW OF BUSINESS
The principal activity of the company is that of the production & application of self-adhesive vinyl and digital graphics.

The company continues to set itself the goal to provide a high standard of product and service through the continued investment in the best technology and people.

The directors are satisfied with the results and performance of the company during the year ended 31 December 2023.

PRINCIPAL RISKS AND UNCERTAINTIES
The company's principal financial instruments comprise bank balances, trade creditors, trade debtors, loans to the company and finance lease agreements. The main purpose of these instruments is to raise funds for the company's operations and to finance the company's operations.

Due to the nature of the financial instruments used by the company there is no exposure to price risk. The company's approach to managing other risks applicable to the financial instruments concerned is shown below.

In respect of bank balances the liquidity risk is managed by maintaining a balance between the continuity of funding and flexibility through the use of overdrafts.

In respect of the loan from the parent company the interest rate and the monthly repayments are fixed. The company manages the liquidity risk by ensuring there are sufficient funds to meet the payments.

The company is a lessee in respect of finance-leased assets. The liquidity risk in respect of these is managed in the same way as the loan above.

Trade debtors are managed in respect of credit and cash flow risk by policies concerning the credit offered to customers and the regular monitoring of amounts outstanding for both time and credit limits.

Trade creditors liquidity risk is managed by ensuring sufficient funds are available to meet amounts due.

BUSINESS RISKS
The company mitigates its business risks by employing high quality staff in all key areas of the business. Along with continued investment in technology the group is confident of dealing with and overcoming any risks as they arise.

FUTURE DEVELOPMENTS
The graphics industry continues to provide plenty of opportunities for continued growth. The directors remain confident that the group will maintain its position in the market by investing in the latest technology in order to maintain both a quality product and service.


Vinyl Graphics Limited (Registered number: 01229842)

Strategic Report
for the Year Ended 31st December 2023

RESEARCH AND DEVELOPMENT
The company continue to invest in research and development to bring new products to the market. The graphics industry is an evolving market so investing in new products and innovation is important.

ON BEHALF OF THE BOARD:





M Ayerst - Director


10th June 2024

Vinyl Graphics Limited (Registered number: 01229842)

Directors' Report
for the Year Ended 31st December 2023

The directors present their report with the financial statements of the company for the year ended 31st December 2023.

DIVIDENDS
No interim dividend was paid during the year. The directors recommend a final dividend of £2.76 per share.

The total distribution of dividends for the year ended 31st December 2023 will be £ 40,000 .

EVENTS SINCE THE END OF THE YEAR
Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTORS
The directors shown below have held office during the whole of the period from 1st January 2023 to the date of this report.

S Ayerst
M Ayerst
R Dadd
M Elen
D Field

POLITICAL DONATIONS AND EXPENDITURE
During the year the Company made charitable donations of £412 (2022: £10,466), principally to local charities and businesses.

DISCLOSURE IN THE STRATEGIC REPORT
The company has prepared a Strategic Report in accordance with section 414C(11) of the Companies Act 2006 and (Strategic Report and Directors' Report) Regulations 2013.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.


Vinyl Graphics Limited (Registered number: 01229842)

Directors' Report
for the Year Ended 31st December 2023

STATEMENT OF DIRECTORS' RESPONSIBILITIES - continued
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Thickbroom Coventry, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





M Ayerst - Director


10th June 2024

Independent Auditors' Report to the Members of
Vinyl Graphics Limited

Opinion
We have audited the financial statements of Vinyl Graphics Limited (the 'company') for the year ended 31st December 2023 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position, Statement of Cash Flows and Notes to the Statement of Cash Flows, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31st December 2023 and of its loss for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Directors' Report, but does not include the financial statements and our Auditors' Report thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Independent Auditors' Report to the Members of
Vinyl Graphics Limited


Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on pages four and five, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Independent Auditors' Report to the Members of
Vinyl Graphics Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We obtained an understanding of the legal and regulatory framework applicable to the company and the sector in which the operate. We determined that the following laws and regulations were most significant; the Companies Act 2006 and UK corporate taxation laws.

We obtained an understanding of how the company is complying with those legal and regulatory frameworks by making inquiries to the management. We corroborated our inquiries through our review of board minutes and papers provided by those charged with governance.

We assessed the susceptibility of the company's financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the engagement team include:
- identifying and assessing the design effectiveness of controls management has in place to prevent and detect fraud;
- understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process;
- challenging assumptions and judgements made by management in its significant accounting estimates;
- identifying and testing journal entries, in particular and journal entries posted with unusual account combinations; and
- assessing the extent of compliance with the relevant laws and regulations.

We have reviewed the financial statements and considered whether they are consistent with our understanding of the entity or indicate a previously unrecognised risk of material misstatement that could be due to fraud.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.

Independent Auditors' Report to the Members of
Vinyl Graphics Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Iain McMurray ACA (Senior Statutory Auditor)
for and on behalf of Thickbroom Coventry
Chartered Accountants
and Statutory Auditors
147a High Street
Waltham Cross
Hertfordshire
EN8 7AP

10th June 2024

Vinyl Graphics Limited (Registered number: 01229842)

Statement of Income and
Retained Earnings
for the Year Ended 31st December 2023

2023 2022
Notes £    £    £    £   

TURNOVER 9,755,502 9,302,303

Cost of sales 5,599,206 5,535,915
GROSS PROFIT 4,156,296 3,766,388

Distribution costs 1,048,346 1,125,094
Administrative expenses 3,182,567 2,551,281
4,230,913 3,676,375
(74,617 ) 90,013

Other operating income - 116,352
OPERATING (LOSS)/PROFIT 5 (74,617 ) 206,365


Interest payable and similar
expenses

6

160,859

110,282
(LOSS)/PROFIT BEFORE TAXATION (235,476 ) 96,083

Tax on (loss)/profit 7 1,711 12,960
(LOSS)/PROFIT FOR THE
FINANCIAL YEAR

(237,187

)

83,123

Retained earnings at beginning of
year

3,561,128

3,528,005

Dividends 8 (40,000 ) (50,000 )

RETAINED EARNINGS AT END OF
YEAR

3,283,941

3,561,128

Vinyl Graphics Limited (Registered number: 01229842)

Statement of Financial Position
31st December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 9 2,932,786 3,089,227
Investments 10 10,000 10,000
2,942,786 3,099,227

CURRENT ASSETS
Stocks 11 239,696 270,678
Debtors 12 4,837,458 5,134,153
Cash at bank - 3,831
5,077,154 5,408,662
CREDITORS
Amounts falling due within one year 13 2,672,645 2,981,866
NET CURRENT ASSETS 2,404,509 2,426,796
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,347,295

5,526,023

CREDITORS
Amounts falling due after more than
one year

14

(1,834,895

)

(1,816,623

)

PROVISIONS FOR LIABILITIES 17 (210,959 ) (130,772 )
NET ASSETS 3,301,441 3,578,628

CAPITAL AND RESERVES
Called up share capital 18 14,473 14,473
Capital redemption reserve 19 3,027 3,027
Retained earnings 19 3,283,941 3,561,128
SHAREHOLDERS' FUNDS 3,301,441 3,578,628

The financial statements were approved by the Board of Directors and authorised for issue on 10th June 2024 and were signed on its behalf by:





M Ayerst - Director


Vinyl Graphics Limited (Registered number: 01229842)

Statement of Cash Flows
for the Year Ended 31st December 2023

2023 2022
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 644,916 872,395
Interest element of hire purchase
payments paid

(160,859

)

(110,282

)
Tax paid 78,476 -
Net cash from operating activities 562,533 762,113

Cash flows from investing activities
Purchase of tangible fixed assets (563,437 ) (92,915 )
Sale of tangible fixed assets 54,425 17,871
Net cash from investing activities (509,012 ) (75,044 )

Cash flows from financing activities
New loans in year 595,864 -
Loan repayments in year (229,061 ) (199,999 )
Capital repayments in year (213,055 ) (199,908 )
Movement on invoice discounting (176,759 ) (236,914 )
Equity dividends paid (40,000 ) (50,000 )
Net cash from financing activities (63,011 ) (686,821 )

(Decrease)/increase in cash and cash equivalents (9,490 ) 248
Cash and cash equivalents at
beginning of year

2

3,831

3,583

Cash and cash equivalents at end
of year

2

(5,659

)

3,831

Vinyl Graphics Limited (Registered number: 01229842)

Notes to the Statement of Cash Flows
for the Year Ended 31st December 2023

1. RECONCILIATION OF (LOSS)/PROFIT BEFORE TAXATION TO CASH GENERATED
FROM OPERATIONS
2023 2022
£    £   
(Loss)/profit before taxation (235,476 ) 96,083
Depreciation charges 309,389 316,871
Loss on disposal of fixed assets 356,063 925
Finance costs 160,859 110,282
590,835 524,161
Decrease/(increase) in stocks 30,982 (15,525 )
Decrease in trade and other debtors 296,695 214,184
(Decrease)/increase in trade and other creditors (273,596 ) 149,575
Cash generated from operations 644,916 872,395

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 31st December 2023
31/12/23 1/1/23
£    £   
Cash and cash equivalents - 3,831
Bank overdrafts (5,659 ) -
(5,659 ) 3,831
Year ended 31st December 2022
31/12/22 1/1/22
£    £   
Cash and cash equivalents 3,831 3,583


Vinyl Graphics Limited (Registered number: 01229842)

Notes to the Statement of Cash Flows
for the Year Ended 31st December 2023

3. ANALYSIS OF CHANGES IN NET DEBT

At 1/1/23 Cash flow At 31/12/23
£    £    £   
Net cash
Cash at bank 3,831 (3,831 ) -
Bank overdrafts - (5,659 ) (5,659 )
3,831 (9,490 ) (5,659 )
Debt
Finance leases (456,127 ) (227,809 ) (683,936 )
Debts falling due within 1 year (1,157,388 ) 138,009 (1,019,379 )
Debts falling due after 1 year (1,538,702 ) 112,812 (1,425,890 )
(3,152,217 ) 23,012 (3,129,205 )
Total (3,148,386 ) 13,522 (3,134,864 )

Vinyl Graphics Limited (Registered number: 01229842)

Notes to the Financial Statements
for the Year Ended 31st December 2023

1. STATUTORY INFORMATION

Vinyl Graphics Limited 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. ACCOUNTING POLICIES

Basis of preparing the financial statements
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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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.
Short leasehold - 10% on cost
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 5% on reducing balance
Motor vehicles - 15% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Vinyl Graphics Limited (Registered number: 01229842)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
The company's principal financial instruments comprise bank balances, trade creditors, trade debtors, loans to the company and finance lease agreements. The main purpose of these instruments is to raise funds for the company's operations and to finance the company's operations.

Due to the nature of the financial instruments used by the company there is no exposure to price risk. The company's approach to managing other risks applicable to the financial instruments concerned is shown below.

In respect of bank balances the liquidity risk is managed by maintaining a balance between the continuity of funding and flexibility through the use of overdrafts.

In respect of the loan from the parent company the interest rate and the monthly repayments are fixed. The company manages the liquidity risk by ensuring there are sufficient funds to meet the payments.

The company is a lessee in respect of finance-leased assets. The liquidity risk in respect of these is managed in the same way as the loan above.

Trade debtors are managed in respect of credit and cash flow risk by policies concerning the credit offered to customers and the regular monitoring of amounts outstanding for both time and credit limits.

Trade creditors liquidity risk is managed by ensuring sufficient funds are available to meet amounts due.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Vinyl Graphics Limited (Registered number: 01229842)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS
2023 2022
£    £   
Wages and salaries 2,461,351 2,358,808
Social security costs 272,452 264,448
Other pension costs 225,439 223,709
2,959,242 2,846,965

The average number of employees during the year was as follows:
2023 2022

Production 47 46
Distribution 6 5
Administrative 14 13
67 64

4. DIRECTORS' EMOLUMENTS
2023 2022
£    £   
Directors' remuneration 285,601 227,555

The number of directors to whom retirement benefits were accruing was as follows:

Defined benefit schemes 3 3

Information regarding the highest paid director is as follows:
2023 2022
£    £   

The aggregate remuneration of the highest paid director during the year amounted to £115,816 (2022: £96,432).

Vinyl Graphics Limited (Registered number: 01229842)

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

5. OPERATING (LOSS)/PROFIT

The operating loss (2022 - operating profit) is stated after charging:

2023 2022
£    £   
Other operating leases 317,678 481,265
Depreciation - owned assets 309,390 316,871
Loss on disposal of fixed assets 356,063 925
Auditors' remuneration 19,500 19,000

6. INTEREST PAYABLE AND SIMILAR EXPENSES
2023 2022
£    £   
HP, bank loan and factoring 160,859 110,282

7. TAXATION

Analysis of the tax charge
The tax charge on the loss for the year was as follows:
2023 2022
£    £   
Current tax:
R&D claim prior year (53,476 ) -
R&D claim current year (25,000 ) -
Total current tax (78,476 ) -

Deferred tax 80,187 12,960
Tax on (loss)/profit 1,711 12,960

8. DIVIDENDS
2023 2022
£    £   
Ordinary shares of £1 each
Final 40,000 50,000

Vinyl Graphics Limited (Registered number: 01229842)

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

9. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1st January 2023 117,158 8,608,596 1,685,459 333,428 10,744,641
Additions 25,631 473,685 17,816 46,305 563,437
Disposals - (1,758,222 ) - (95,531 ) (1,853,753 )
At 31st December
2023

142,789

7,324,059

1,703,275

284,202

9,454,325
DEPRECIATION
At 1st January 2023 108,865 6,312,533 1,086,074 147,942 7,655,414
Charge for year 3,668 249,102 30,638 25,982 309,390
Eliminated on disposal - (1,390,214 ) - (53,051 ) (1,443,265 )
At 31st December
2023

112,533

5,171,421

1,116,712

120,873

6,521,539
NET BOOK VALUE
At 31st December
2023

30,256

2,152,638

586,563

163,329

2,932,786
At 31st December
2022

8,293

2,296,063

599,385

185,486

3,089,227

Included within the carrying value of tangible fixed assets are assets held under finance leases or hire purchase agreements amounting to £1,423,828 (2022: £1,049,349).

10. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1st January 2023
and 31st December 2023 10,000
NET BOOK VALUE
At 31st December 2023 10,000
At 31st December 2022 10,000

Vinyl Graphics Limited (Registered number: 01229842)

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

10. FIXED ASSET INVESTMENTS - continued

The company's investments at the Statement of Financial Position date in the share capital of companies include the following:

Jadecal Signs Limited
Registered office: United Kingdom
Nature of business: Dormant company
%
Class of shares: holding
Ordinary 100.00
2023 2022
£    £   
Aggregate capital and reserves 10,000 10,000

11. STOCKS
2023 2022
£    £   
Raw materials 239,696 270,678

12. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 1,265,807 1,540,071
Trade debtors unbilled 62,500 85,228
Amounts owed by group undertakings 545,653 545,653
Other debtors 72,015 34,627
Prepayments and accrued income 97,851 134,942
2,043,826 2,340,521

Amounts falling due after more than one year:
Amounts owed by group undertakings 2,793,632 2,793,632

Aggregate amounts 4,837,458 5,134,153

Vinyl Graphics Limited (Registered number: 01229842)

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

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 15)
244,409

200,000
Other loans (see note 15) 780,629 957,388
Hire purchase contracts (see note 16)
274,931

178,206
Trade creditors 551,896 978,811
Social security and other taxes 65,533 73,281
VAT 202,561 99,419
Amounts due to group 47,104 89,430
Accrued expenses 505,582 405,331
2,672,645 2,981,866

14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans (see note 15) 370,522 483,334
Other loans (see note 15) 1,055,368 1,055,368
Hire purchase contracts (see note 16)
409,005

277,921
1,834,895 1,816,623

15. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 5,659 -
Bank loans 238,750 200,000
Invoice discounting 780,629 957,388
1,025,038 1,157,388

Amounts falling due between one and two years:
Bank loans - 1-2 years 238,750 200,000

Amounts falling due between two and five years:
Bank loans - 2-5 years 131,772 283,334

Amounts falling due in more than five years:

Vinyl Graphics Limited (Registered number: 01229842)

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

15. LOANS - continued
2023 2022
£    £   
Amounts falling due in more than five years:
Repayable by instalments
Other loans more 5yrs instal 1,055,368 1,055,368

16. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2023 2022
£    £   
Net obligations repayable:
Within one year 274,931 178,206
Between one and five years 409,005 277,921
683,936 456,127

17. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 210,959 130,772

Deferred
tax
£   
Balance at 1st January 2023 130,772
Provided during year 80,187
Balance at 31st December 2023 210,959

18. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
14,473 Ordinary £1 14,473 14,473

Vinyl Graphics Limited (Registered number: 01229842)

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

19. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1st January 2023 3,561,128 3,027 3,564,155
Deficit for the year (237,187 ) (237,187 )
Dividends (40,000 ) (40,000 )
At 31st December 2023 3,283,941 3,027 3,286,968

20. ULTIMATE PARENT COMPANY

Jadecal Holdings Limited (incorporated in United Kingdom ) is regarded by the directors as being the company's ultimate parent company.

21. RELATED PARTY DISCLOSURES

Vinyl Graphics Limited Pension Scheme
Vinyl Graphics Limited pay pension contributions into a pension fund. The company also rents two of its premises from the pension scheme. The value of rent payable during the year amounted to £306,500 (2022: £389,000).

22. POST BALANCE SHEET EVENTS

There have been no significant events affecting the company since the year-end.

23. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr Michael Ayerst and Mr SimonAyerst.