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REGISTERED NUMBER: 04706326 (England and Wales)















GRAYSON DESIGN & PRINT LIMITED

Unaudited Financial Statements for the Year Ended 31 March 2024






GRAYSON DESIGN & PRINT LIMITED (REGISTERED NUMBER: 04706326)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GRAYSON DESIGN & PRINT LIMITED

Company Information
for the Year Ended 31 March 2024







DIRECTOR: T G Langford





SECRETARY: Mrs L J Langford





REGISTERED OFFICE: The Counting House
61 Charlotte Street
St Pauls Square
Birmingham
West Midlands
B3 1PX





REGISTERED NUMBER: 04706326 (England and Wales)





ACCOUNTANTS: Michael Dufty Partnership Limited
59-61 Charlotte Street
St Pauls Square
Birmingham
West Midlands
B3 1PX

GRAYSON DESIGN & PRINT LIMITED (REGISTERED NUMBER: 04706326)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 33,331 48,690
33,331 48,690

CURRENT ASSETS
Stocks 15,664 15,918
Debtors 6 242,130 441,813
Cash at bank - 31
257,794 457,762
CREDITORS
Amounts falling due within one year 7 475,243 607,760
NET CURRENT LIABILITIES (217,449 ) (149,998 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(184,118

)

(101,308

)

CREDITORS
Amounts falling due after more than one
year

8

16,503

43,817
NET LIABILITIES (200,621 ) (145,125 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (200,721 ) (145,225 )
SHAREHOLDERS' FUNDS (200,621 ) (145,125 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

GRAYSON DESIGN & PRINT LIMITED (REGISTERED NUMBER: 04706326)

Balance Sheet - continued
31 March 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 November 2024 and were signed by:





T G Langford - Director


GRAYSON DESIGN & PRINT LIMITED (REGISTERED NUMBER: 04706326)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Grayson Design & Print Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

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 2004, 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 - 33% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

GRAYSON DESIGN & PRINT LIMITED (REGISTERED NUMBER: 04706326)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2023 - 13 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 25,000
AMORTISATION
At 1 April 2023
and 31 March 2024 25,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023
and 31 March 2024 58,506 17,246 13,220 58,685 147,657
DEPRECIATION
At 1 April 2023 24,049 14,885 12,118 47,915 98,967
Charge for year 10,231 621 276 4,231 15,359
At 31 March 2024 34,280 15,506 12,394 52,146 114,326
NET BOOK VALUE
At 31 March 2024 24,226 1,740 826 6,539 33,331
At 31 March 2023 34,457 2,361 1,102 10,770 48,690

The net book value of tangible fixed assets includes £ 5,731 (2023 - £ 7,627 ) in respect of assets held under hire purchase contracts.

GRAYSON DESIGN & PRINT LIMITED (REGISTERED NUMBER: 04706326)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 232,116 404,619
Directors' current accounts 19,578 20,000
Prepayments and accrued income (9,564 ) 17,194
242,130 441,813

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 35,875 29,496
Factoring liability 180,031 223,985
Hire purchase contracts - 3,468
Trade creditors 150,548 170,637
Social security and other taxes 105,106 168,028
Other creditors 1,675 1,438
Accrued expenses 2,008 10,708
475,243 607,760

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 14,735 26,223
Bank loans - 2-5 years 1,768 17,594
16,503 43,817

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdraft 9,410 -
Bank loans 42,968 73,313
Factoring liability 180,031 223,985
Hire purchase contracts - 3,468
232,409 300,766

The bank overdraft is secured by a debenture and a personal guarantee.

The hire purchase creditor is secured on the assets to which the borrowing relates.

The factoring liability is secured on the company's trade debtors.

GRAYSON DESIGN & PRINT LIMITED (REGISTERED NUMBER: 04706326)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
T G Langford
Balance outstanding at start of year 20,000 22,850
Amounts advanced 65,900 31,318
Amounts repaid (66,322 ) (34,168 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 19,578 20,000

The loan is interest free and repayable upon demand.