Company registration number 01215380 (England and Wales)
Datagraphic Group Limited
FINANCIAL STATEMENTS
for the year ended 31 December 2023
PAGES FOR FILING WITH REGISTRAR
Datagraphic Group Limited
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 4
Datagraphic Group Limited
Statement of financial position
as at 31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
971,615
803,577
Current assets
Stocks
37,857
24,607
Debtors
904,719
3,047,448
Cash at bank and in hand
17,139
17,786
959,715
3,089,841
Creditors: amounts falling due within one year
(1,965,837)
(3,719,828)
Net current liabilities
(1,006,122)
(629,987)
Total assets less current liabilities
(34,507)
173,590
Creditors: amounts falling due after more than one year
(259,042)
(354,757)
Provisions for liabilities
(56,791)
(9,492)
Net liabilities
(350,340)
(190,659)
Capital and reserves
Called up share capital
25,000
25,000
Share premium account
8,250
8,250
Revaluation reserve
276,160
186,160
Profit and loss reserves
(659,750)
(410,069)
Total equity
(350,340)
(190,659)
In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 12 September 2024 and are signed on its behalf by:
R G King
Director
Company Registration No. 01215380
Datagraphic Group Limited
Notes to the Financial Statements
for the year ended 31 December 2023
- 2 -
1
Accounting policies
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the disclosure requirements available to it.
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings
Not depreciated
Fixtures and fittings
5 to 10 years
Computers
33% straight line
Motor vehicles
3 years
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Freehold land and buildings have been valued under the revaluation model. Allowing the freehold land and buildings to be shown at their fair value rather than cost in the accounts. A valuation is carried out periodically.
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Datagraphic Group Limited
Notes to the Financial Statements (continued)
for the year ended 31 December 2023
1
Accounting policies
(continued)
- 3 -
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
26
24
Datagraphic Group Limited
Notes to the Financial Statements (continued)
for the year ended 31 December 2023
- 4 -
3
Tangible fixed assets
Freehold land and buildings
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
Cost or valuation
At 1 January 2023
730,000
131,410
253,986
48,792
1,164,188
Additions
66,629
1,986
31,000
99,615
Disposals
(48,792)
(48,792)
Revaluation
120,000
120,000
At 31 December 2023
850,000
198,039
255,972
31,000
1,335,011
Depreciation and impairment
At 1 January 2023
102,498
233,155
24,958
360,611
Depreciation charged in the year
7,144
12,850
11,253
31,247
Eliminated in respect of disposals
(28,462)
(28,462)
At 31 December 2023
109,642
246,005
7,749
363,396
Carrying amount
At 31 December 2023
850,000
88,397
9,967
23,251
971,615
At 31 December 2022
730,000
28,912
20,831
23,834
803,577
Land and buildings with a carrying amount of £850,000 were revalued in June 2023 by independent valuers not connected with the company on the basis of market value. The valuation conforms to International Valuation Standards and was based on recent market transactions on arm's length terms for similar properties. The historical cost of the revalued property was £578,550.
4
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
Senior Statutory Auditor:
Charles R Moorby
Statutory Auditor:
B M Howarth Ltd
Date of audit report:
12 September 2024
5
Company information
Datagraphic Group Limited is a private company limited by shares incorporated in England and Wales. The registered office is Ireland Industrial Estate, Adelphi Way, Chesterfield, Derbyshire, S43 3LS.