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REGISTERED NUMBER: 04910501 (England and Wales)















GRAHAM SMITH (UK) LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST JANUARY 2024






GRAHAM SMITH (UK) LTD (REGISTERED NUMBER: 04910501)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JANUARY 2024










Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 7


GRAHAM SMITH (UK) LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST JANUARY 2024







DIRECTORS: Mr L O de Souza
Ms A A Smith





SECRETARY: Ms A A Smith





REGISTERED OFFICE: Clay Hill Park
Brinkworth
CHIPPENHAM
Wiltshire
SN15 5AQ





REGISTERED NUMBER: 04910501 (England and Wales)





ACCOUNTANTS: Morris Owen
Chartered Accountants
43-45 Devizes Road
SWINDON
Wiltshire
SN1 4BG

GRAHAM SMITH (UK) LTD (REGISTERED NUMBER: 04910501)

STATEMENT OF FINANCIAL POSITION
31ST JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 345,000 402,500
Tangible assets 5 570,054 456,950
915,054 859,450

CURRENT ASSETS
Stocks 463,178 437,296
Debtors 6 1,048,928 906,536
Cash at bank and in hand 722,008 789,960
2,234,114 2,133,792
CREDITORS
Amounts falling due within one year 7 946,374 912,809
NET CURRENT ASSETS 1,287,740 1,220,983
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,202,794

2,080,433

CREDITORS
Amounts falling due after more than
one year

8

(256,202

)

(151,398

)

PROVISIONS FOR LIABILITIES (52,020 ) (60,330 )
NET ASSETS 1,894,572 1,868,705

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 1,894,472 1,868,605
SHAREHOLDERS' FUNDS 1,894,572 1,868,705

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st January 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 SMITH (UK) LTD (REGISTERED NUMBER: 04910501)

STATEMENT OF FINANCIAL POSITION - continued
31ST JANUARY 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9th October 2024 and were signed on its behalf by:




Ms A A Smith - Director



Mr L O de Souza - Director


GRAHAM SMITH (UK) LTD (REGISTERED NUMBER: 04910501)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JANUARY 2024


1. STATUTORY INFORMATION

Graham Smith UK Ltd is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 04910501

Registered office: Clay Hill Park, Barnes Green, Brinkworth, Chippenham, Wiltshire, SN15 5AQ

The presentation currency of the financial statements is the Pound Sterling (£) rounded to the nearest pound.

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.

Significant judgements and estimates
In preparing these financial statements, the directors have made the following judgements:
- Determine whether leases entered into by the company as a lessee are operating leases or finance leases. These decisions depend on an assessment of whether the risks and rewards of ownership have been transferred from the lessor to the lessee on a lease by lease basis.
- Determine the period of useful economic life and any residual value of all tangible fixed assets order to write off the value of each asset over that period.
- Determine an appropriate provision for bad and doubtful debts by assessing the recoverability of all balances on a balance by balance basis.
- Determine an appropriate provision for obsolete and slow moving stocks by assessing the net realisable value of all stock lines on a line by line basis.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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
Computer equipment - 33% on cost

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


GRAHAM SMITH (UK) LTD (REGISTERED NUMBER: 04910501)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2024


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 48 (2023 - 53 ) .

GRAHAM SMITH (UK) LTD (REGISTERED NUMBER: 04910501)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2024


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st February 2023
and 31st January 2024 575,000
AMORTISATION
At 1st February 2023 172,500
Charge for year 57,500
At 31st January 2024 230,000
NET BOOK VALUE
At 31st January 2024 345,000
At 31st January 2023 402,500

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st February 2023 62,284 743,741 806,025
Additions 9,313 309,960 319,273
Disposals - (180,577 ) (180,577 )
At 31st January 2024 71,597 873,124 944,721
DEPRECIATION
At 1st February 2023 - 349,075 349,075
Charge for year - 91,324 91,324
Eliminated on disposal - (65,732 ) (65,732 )
At 31st January 2024 - 374,667 374,667
NET BOOK VALUE
At 31st January 2024 71,597 498,457 570,054
At 31st January 2023 62,284 394,666 456,950


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 920,560 869,588
Other debtors 128,368 36,948
1,048,928 906,536

GRAHAM SMITH (UK) LTD (REGISTERED NUMBER: 04910501)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 36,959 41,721
Trade creditors 597,522 531,135
Taxation and social security 143,046 295,935
Other creditors 168,847 44,018
946,374 912,809

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 256,202 151,398

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 293,161 193,119

The hire purchase liability is secured upon the assets on which finance was obtained.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31st January 2024 and 31st January 2023:

2024 2023
£    £   
Mr L O de Souza and Ms A A Smith
Balance outstanding at start of year 10,732 26,431
Amounts advanced 14,819 10,732
Amounts repaid (25,551 ) (26,431 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 10,732