Registered number
03207935
Explosive Graphics Limited
Unaudited Filleted Accounts
21 October 2023
Explosive Graphics Limited
Registered number: 03207935
Balance Sheet
as at 21 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 8,778 4,972
Current assets
Stocks 1,260 13,822
Debtors 4 23,139 19,177
Cash at bank and in hand 9,476 12,101
33,875 45,100
Creditors: amounts falling due within one year 5 (5,983) (12,119)
Net current assets 27,892 32,981
Total assets less current liabilities 36,670 37,953
Creditors: amounts falling due after more than one year 6 (32,808) (37,157)
Net assets 3,862 796
Capital and reserves
Called up share capital 2 2
Profit and loss account 3,860 794
Shareholder's funds 3,862 796
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J Bendik
Director
Approved by the board on 18 September 2024
Explosive Graphics Limited
Notes to the Accounts
for the year ended 21 October 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
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 sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 22 October 2022 77,024
Additions 6,000
At 21 October 2023 83,024
Depreciation
At 22 October 2022 72,052
Charge for the year 2,194
At 21 October 2023 74,246
Net book value
At 21 October 2023 8,778
At 21 October 2022 4,972
4 Debtors 2023 2022
£ £
Trade debtors 8,651 4,105
Other debtors 14,488 15,072
23,139 19,177
Other debtors includes £14,488 (2021 £14,839) owing from the director J Bendik. The maximum amount outstanding was at 21 October 2022 of £14,839. The loan is unsecured and interest free.
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 1,522 1,823
Taxation and social security costs 1,971 7,656
Other creditors 2,490 2,640
5,983 12,119
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 32,808 37,157
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
J Bendik 14,839 89,035 (89,386) 14,488
14,839 89,035 (89,386) 14,488
8 Controlling party
The controlling party is Mr J Bendik by virtue of his ownership of 100% of the issued share capital of the company.
9 Other information
Explosive Graphics Limited is a private company limited by shares and incorporated in England. Its registered office is:
8 Schoolhouse
The Village
Trafford Park
Manchester
M17 1DZ
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