Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-01-01falsesupply of display equipment88falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11078381 2023-01-01 2023-12-31 11078381 2022-01-01 2022-12-31 11078381 2023-12-31 11078381 2022-12-31 11078381 c:Director1 2023-01-01 2023-12-31 11078381 d:PlantMachinery 2023-01-01 2023-12-31 11078381 d:PlantMachinery 2023-12-31 11078381 d:PlantMachinery 2022-12-31 11078381 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 11078381 d:MotorVehicles 2023-01-01 2023-12-31 11078381 d:MotorVehicles 2023-12-31 11078381 d:MotorVehicles 2022-12-31 11078381 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 11078381 d:FurnitureFittings 2023-01-01 2023-12-31 11078381 d:FurnitureFittings 2023-12-31 11078381 d:FurnitureFittings 2022-12-31 11078381 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 11078381 d:OfficeEquipment 2023-01-01 2023-12-31 11078381 d:OfficeEquipment 2023-12-31 11078381 d:OfficeEquipment 2022-12-31 11078381 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 11078381 d:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 11078381 d:OtherPropertyPlantEquipment 2023-12-31 11078381 d:OtherPropertyPlantEquipment 2022-12-31 11078381 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 11078381 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 11078381 d:Goodwill 2023-12-31 11078381 d:Goodwill 2022-12-31 11078381 d:CurrentFinancialInstruments 2023-12-31 11078381 d:CurrentFinancialInstruments 2022-12-31 11078381 d:Non-currentFinancialInstruments 2023-12-31 11078381 d:Non-currentFinancialInstruments 2022-12-31 11078381 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 11078381 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 11078381 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 11078381 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 11078381 d:ShareCapital 2023-12-31 11078381 d:ShareCapital 2022-12-31 11078381 d:RetainedEarningsAccumulatedLosses 2023-12-31 11078381 d:RetainedEarningsAccumulatedLosses 2022-12-31 11078381 c:FRS102 2023-01-01 2023-12-31 11078381 c:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 11078381 c:FullAccounts 2023-01-01 2023-12-31 11078381 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11078381 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 11078381 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 iso4217:GBP xbrli:pure

Registered number: 11078381









DISPLAY GRAPHICS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
DISPLAY GRAPHICS LIMITED
 
 
  
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ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF DISPLAY GRAPHICS LIMITED
FOR THE YEAR ENDED 31 DECEMBER 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Display Graphics Limited for the year ended 31 December 2023 which comprise the Statement of financial position and the related notes from the Company's accounting records and from information and explanations you have given us.

We are subject to the ethical and other professional requirements of the Institute of Chartered Accountants in England and Wales (ICAEW), which are detailed at https://www.icaew.com /regulation.

This report is made solely to the director of Display Graphics Limited in accordance with the terms of our engagement letter dated 01/05/2020Our work has been undertaken solely to prepare for your approval the financial statements of Display Graphics Limited  and state those matters that we have agreed to state to the director of Display Graphics Limited in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Display Graphics Limited and its director for our work or for this report. 

It is your duty to ensure that Display Graphics 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 Display Graphics Limited. You consider that Display Graphics Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Display Graphics 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.

  



Evelyn Partners (East) LLP
Accountants
Stonecross
Trumpington High Street
Cambridge
CB2 9SU
9 September 2024
Page 1

 
DISPLAY GRAPHICS LIMITED
REGISTERED NUMBER: 11078381

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
7,896
14,722

  
7,896
14,722

Current assets
  

Stocks
  
6,000
6,000

Debtors: amounts falling due within one year
 6 
38,328
22,369

Cash at bank and in hand
  
197,194
148,443

  
241,522
176,812

Creditors: amounts falling due within one year
  
(381,125)
(302,200)

Net current liabilities
  
 
 
(139,603)
 
 
(125,388)

Total assets less current liabilities
  
(131,707)
(110,666)

Creditors: amounts falling due after more than one year
 7 
(80,185)
(121,294)

Provisions for liabilities
  

Deferred tax
 8 
(1,794)
-

  
 
 
(1,794)
 
 
-

Net liabilities
  
(213,686)
(231,960)


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(213,687)
(231,961)

  
(213,686)
(231,960)


Page 2

 
DISPLAY GRAPHICS LIMITED
REGISTERED NUMBER: 11078381
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
A T Parmee
Director

Date: 27 August 2024

The notes on pages 4 to 11 form part of these financial statements.

Page 3

 
DISPLAY GRAPHICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

The principal activity of Display Graphics Limited is the supply of display equipment and graphics.
The Company is a private company, limited by shares and is incorporated in England and Wales.
The registered office address is New Cambridge House, Bassingbourn Road, Litlington, Royston SG8 0SS.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The Company balance sheet shows net liabilities of £213,686 (2022: £231,960) as at the balance sheet date. The director has considered the borrowings that the Company in place and has concluded that preparing the financial statements on a going concern basis is appropriate.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 4

 
DISPLAY GRAPHICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Revenue

Revenue in respect of the sale of graphics is recognised when the work is complete. Revenue in respect of storage is invoiced in advance and deferred evenly over the period to which it relates. Revenue in respect of exhibitions is recognised and invoiced upon completion of significant milestones which are pre-agreed with each individual customer. Revenue is recognised exclusive of VAT.

 
2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.6

Government grants

Grants are accounted under the accruals model as permitted by FRS 102.
During 2022 the Company benefited from the government Coronavirus Job Retention Scheme. These grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 5

 
DISPLAY GRAPHICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.10

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.11

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 6

 
DISPLAY GRAPHICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.11
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and equipment
-
15%
Motor vehicles
-
25%
Fixtures and fittings
-
15%
Office equipment
-
33%
Other fixed assets
-
33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.12

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.13

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Statement of financial position date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of financial position.

Page 7

 
DISPLAY GRAPHICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.14

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans to and from related parties. 
(i) Financial assets 
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. 
(ii) Financial liabilities 
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. 


3.


Employees

The average monthly number of employees, including directors, during the year was 8 (2022 - 8).


4.


Intangible assets



Goodwill

£



Cost


At 1 January 2023
74,500



At 31 December 2023

74,500



Amortisation


At 1 January 2023
74,500



At 31 December 2023

74,500



Net book value



At 31 December 2023
-



Page 8

 
DISPLAY GRAPHICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Office equipment
Event assets

£
£
£
£
£



Cost or valuation


At 1 January 2023
29,615
13,000
4,662
18,878
-


Additions
-
-
-
238
1,943


Disposals
(6,100)
-
-
-
-



At 31 December 2023

23,515
13,000
4,662
19,116
1,943



Depreciation


At 1 January 2023
17,162
13,000
3,351
17,920
-


Charge for the year on owned assets
3,527
-
699
996
430


Disposals
(2,745)
-
-
-
-



At 31 December 2023

17,944
13,000
4,050
18,916
430



Net book value



At 31 December 2023
5,571
-
612
200
1,513



At 31 December 2022
12,453
-
1,311
958
-
Page 9

 
DISPLAY GRAPHICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

           5.Tangible fixed assets (continued)


Total

£



Cost or valuation


At 1 January 2023
66,155


Additions
2,181


Disposals
(6,100)



At 31 December 2023

62,236



Depreciation


At 1 January 2023
51,433


Charge for the year on owned assets
5,652


Disposals
(2,745)



At 31 December 2023

54,340



Net book value



At 31 December 2023
7,896



At 31 December 2022
14,722


6.


Debtors

2023
2022
£
£


Trade debtors
37,680
21,400

Amounts owed by group undertakings
-
321

Other debtors
648
648

38,328
22,369


Page 10

 
DISPLAY GRAPHICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
80,185
121,294

80,185
121,294


The bank loans are secured over the Company's assets.


8.


Deferred taxation




2023


£






Charged to profit or loss
(1,794)



At end of year
(1,794)

The deferred taxation balance is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(1,794)
-

(1,794)
-


9.


Controlling party

The immediate controlling party is Absolute Audio Visual Solutions Limited of: New Cambridge House
Bassingbourn Road, Litlington, Royston, Herts, SG8 0SS.
The ultimate controlling party is A Parmee, by virtue of his shareholding in the parent company.  

 
Page 11