Company registration number 07471268 (England and Wales)
GRAFHAM WALBANCKE LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2023
4 Brackley Close
Bournemouth International Airport
Christchurch
Dorset
BH23 6SE
GRAFHAM WALBANCKE LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
GRAFHAM WALBANCKE LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
13,761
11,376
Current assets
Debtors
4
9,034
70,061
Cash at bank and in hand
43,758
9
52,792
70,070
Creditors: amounts falling due within one year
5
(15,070)
(17,855)
Net current assets
37,722
52,215
Total assets less current liabilities
51,483
63,591
Creditors: amounts falling due after more than one year
6
(37,057)
(42,534)
Provisions for liabilities
(1,184)
(2,161)
Net assets
13,242
18,896
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
13,142
18,796
Total equity
13,242
18,896
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
GRAFHAM WALBANCKE LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2023
31 December 2023
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 25 September 2024
Mr Richard Grafham
Director
Company registration number 07471268 (England and Wales)
GRAFHAM WALBANCKE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
1
Accounting policies
Company information
Grafham Walbancke Limited is a private company limited by shares incorporated in England and Wales. The registered office is 4 Brackley Close, Bournemouth International Airport, Christchurch, Dorset, BH23 6SE.
1.1
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.
1.2
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.
1.3
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:
Fixtures and fittings
25% reducing balance
Computers
33% straight line
Bicycle
25% reducing balance
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.
1.4
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
Current tax is recognised on taxable profit for the current and, where not previously recognised, past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
GRAFHAM WALBANCKE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -
Deferred tax
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
1
1
3
Tangible fixed assets
Fixtures and fittings
Computers
Bicycle
Total
£
£
£
£
Cost
At 1 January 2023
26,977
26,114
2,717
55,808
Additions
6,639
874
7,513
At 31 December 2023
33,616
26,988
2,717
63,321
Depreciation and impairment
At 1 January 2023
20,340
22,352
1,740
44,432
Depreciation charged in the year
2,539
2,345
244
5,128
At 31 December 2023
22,879
24,697
1,984
49,560
Carrying amount
At 31 December 2023
10,737
2,291
733
13,761
At 31 December 2022
6,637
3,762
977
11,376
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
9,034
70,061
GRAFHAM WALBANCKE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
5,404
9,620
Taxation and social security
2,759
6,123
Other creditors
6,907
2,112
15,070
17,855
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
37,057
42,534
Creditors which fall due after five years are as follows:
2023
2022
£
£
Payable other than by instalments
15,438
21,448
7
Director's transactions
Advances or credits have been granted by the company to its director as follows:
Description
% Rate
Opening balance
Amounts advanced
Interest charged
Amounts repaid
Closing balance
£
£
£
£
£
Director's Loan
2.25
56,693
7,773
819
(70,024)
(4,739)
56,693
7,773
819
(70,024)
(4,739)