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REGISTERED NUMBER: SC357303 (Scotland)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

Graham's Retail Limited

Graham's Retail Limited (Registered number: SC357303)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Accountants' Report 8

Graham's Retail Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: S Graham
Mrs E A Graham





SECRETARY: Mrs E A Graham





REGISTERED OFFICE: 55-57 West High Street
INVERURIE
AB51 3QQ





REGISTERED NUMBER: SC357303 (Scotland)





ACCOUNTANTS: Atholl Scott
55-57 West High Street
INVERURIE
AB51 3QQ

Graham's Retail Limited (Registered number: SC357303)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 112,997 46,394

CURRENT ASSETS
Stocks 58,028 42,773
Debtors 5 24,419 22,978
Cash at bank and in hand 416,061 351,671
498,508 417,422
CREDITORS
Amounts falling due within one
year

6

(345,769

)

(256,180

)
NET CURRENT ASSETS 152,739 161,242
TOTAL ASSETS LESS CURRENT
LIABILITIES

265,736

207,636

CREDITORS
Amounts falling due after more
than one year

7

(51,237

)

(15,326

)

PROVISIONS FOR LIABILITIES 9 (21,469 ) (9,005 )
NET ASSETS 193,030 183,305

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 192,930 183,205
SHAREHOLDERS' FUNDS 193,030 183,305

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 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's Retail Limited (Registered number: SC357303)

Balance Sheet - continued
30 April 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 September 2024 and were signed on its behalf by:




S Graham - Director



Mrs E A Graham - Director


Graham's Retail Limited (Registered number: SC357303)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Graham's Retail Limited is a private company, limited by shares , registered in Scotland. 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents amounts receivable for goods sold and services rendered during the year, exclusive of value added tax.

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.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

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

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 balance sheet date.

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.

Graham's Retail Limited (Registered number: SC357303)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

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.

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

The average number of employees during the year was 20 (2023 - 21 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 May 2023 24,952 36,763 32,999 2,199 96,913
Additions 37,922 2,045 55,405 - 95,372
At 30 April 2024 62,874 38,808 88,404 2,199 192,285
DEPRECIATION
At 1 May 2023 14,492 19,977 14,437 1,613 50,519
Charge for year 7,258 2,825 18,492 194 28,769
At 30 April 2024 21,750 22,802 32,929 1,807 79,288
NET BOOK VALUE
At 30 April 2024 41,124 16,006 55,475 392 112,997
At 30 April 2023 10,460 16,786 18,562 586 46,394

Graham's Retail Limited (Registered number: SC357303)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 May 2023 32,999
Additions 55,405
At 30 April 2024 88,404
DEPRECIATION
At 1 May 2023 14,437
Charge for year 18,492
At 30 April 2024 32,929
NET BOOK VALUE
At 30 April 2024 55,475
At 30 April 2023 18,562

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 3,295 1,953
Prepayments 21,124 21,025
24,419 22,978

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Hire purchase contracts (see note 8)
7,375

3,137
Trade creditors 149,018 101,918
Tax 7,089 28,671
PAYE (2,332 ) (1,219 )
VAT 8,434 4,406
Other creditors 2,306 814
Directors' loan accounts 85,736 49,509
Accrued expenses 88,143 68,944
345,769 256,180

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Hire purchase contracts (see note 8)
51,237

15,326

Graham's Retail Limited (Registered number: SC357303)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
30.4.24 30.4.23
£    £   
Net obligations repayable:
Within one year 7,375 3,137
Between one and five years 51,237 15,326
58,612 18,463

Non-cancellable operating leases
30.4.24 30.4.23
£    £   
Within one year 41,000 41,000

9. PROVISIONS FOR LIABILITIES
30.4.24 30.4.23
£    £   
Deferred tax 21,469 9,005

Deferred
tax
£   
Balance at 1 May 2023 9,005
Provided during year 12,464
Balance at 30 April 2024 21,469

10. RELATED PARTY DISCLOSURES

During the year, total dividends of £74,000 (2023 - £76,000) were paid to the directors .

During the year S Graham & E Graham (Directors) increased the amount loaned to the company by £36,227 leaving a balance of £85,735 (2023 £49,508). This loan is unsecured, interest free and repayable on demand.

11. ULTIMATE CONTROLLING PARTY

The company is controlled by its directors.

Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Graham's Retail Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Graham's Retail Limited for the year ended 30 April 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Graham's Retail Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Graham's Retail Limited and state those matters that we have agreed to state to the Board of Directors of Graham's Retail Limited, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Graham's Retail Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Graham's Retail Limited. You consider that Graham's Retail Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Graham's Retail Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

As a member firm of the Institute of Financial Accountants (IFA), we are subject to its ethical and other professional requirements which are detailed at https://www.ifa.org.uk/about-us/publicinterest/memberregulations.






Atholl Scott
55-57 West High Street
INVERURIE
AB51 3QQ


11 September 2024