3 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 10,000 10,000 7,336 5,053 1,474 6,527 809 2,283 xbrli:pure xbrli:shares iso4217:GBP 08940934 2023-04-01 2024-03-31 08940934 2024-03-31 08940934 2023-03-31 08940934 2022-04-01 2023-03-31 08940934 2023-03-31 08940934 2022-03-31 08940934 core:NetGoodwill 2023-04-01 2024-03-31 08940934 bus:Director2 2023-04-01 2024-03-31 08940934 core:WithinOneYear 2024-03-31 08940934 core:WithinOneYear 2023-03-31 08940934 core:NetGoodwill 2024-03-31 08940934 core:AfterOneYear 2024-03-31 08940934 core:AfterOneYear 2023-03-31 08940934 core:UKTax 2023-04-01 2024-03-31 08940934 core:UKTax 2022-04-01 2023-03-31 08940934 core:ShareCapital 2024-03-31 08940934 core:ShareCapital 2023-03-31 08940934 core:RetainedEarningsAccumulatedLosses 2024-03-31 08940934 core:RetainedEarningsAccumulatedLosses 2023-03-31 08940934 bus:SmallEntities 2023-04-01 2024-03-31 08940934 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 08940934 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 08940934 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08940934 bus:FullAccounts 2023-04-01 2024-03-31 08940934 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 08940934 core:FurnitureFittingsToolsEquipment 2024-03-31 08940934 core:FurnitureFittingsToolsEquipment 2023-03-31
COMPANY REGISTRATION NUMBER: 08940934
GRAPHIC WORKMAN LTD
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 March 2024
GRAPHIC WORKMAN LTD
STATEMENT OF FINANCIAL POSITION
31 March 2024
2024
2023
Note
£
£
FIXED ASSETS
Tangible assets
7
809
2,283
CURRENT ASSETS
Stocks
17,090
16,435
Debtors
8
17,556
9,490
Cash at bank and in hand
1,069
2,015
--------
--------
35,715
27,940
CREDITORS: amounts falling due within one year
9
32,916
23,560
--------
--------
NET CURRENT ASSETS
2,799
4,380
-------
-------
TOTAL ASSETS LESS CURRENT LIABILITIES
3,608
6,663
CREDITORS: amounts falling due after more than one year
10
3,500
6,561
-------
-------
NET ASSETS
108
102
-------
-------
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
8
2
----
----
SHAREHOLDERS FUNDS
108
102
----
----
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
GRAPHIC WORKMAN LTD
STATEMENT OF FINANCIAL POSITION (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 30 October 2024 , and are signed on behalf of the board by:
Mr D Ottley
Director
Company registration number: 08940934
GRAPHIC WORKMAN LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 24 Bank Road, Matlock, Derbyshire, DE4 3NF.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
20% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
33% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 3 (2023: 3 ).
5. TAX ON PROFIT
Major components of tax expense
2024
2023
£
£
Current tax:
UK current tax expense
6,345
6,356
Research and development claim
( 4,315)
-------
-------
Total current tax
6,345
2,041
-------
-------
-------
-------
Tax on profit
6,345
2,041
-------
-------
6. INTANGIBLE ASSETS
Goodwill
£
Cost
At 1 April 2023 and 31 March 2024
10,000
--------
Amortisation
At 1 April 2023 and 31 March 2024
10,000
--------
Carrying amount
At 31 March 2024
--------
At 31 March 2023
--------
7. TANGIBLE ASSETS
Equipment
£
Cost
At 1 April 2023 and 31 March 2024
7,336
-------
Depreciation
At 1 April 2023
5,053
Charge for the year
1,474
-------
At 31 March 2024
6,527
-------
Carrying amount
At 31 March 2024
809
-------
At 31 March 2023
2,283
-------
8. DEBTORS
2024
2023
£
£
Trade debtors
8,214
8,742
Directors loan account
9,342
748
--------
-------
17,556
9,490
--------
-------
9. CREDITORS: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
3,000
3,729
Accruals and deferred income
1,635
1,955
Corporation tax
15,852
9,507
Social security and other taxes
12,429
8,369
--------
--------
32,916
23,560
--------
--------
10. CREDITORS: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
3,500
6,561
-------
-------
11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES
The company made a loan to the directors of £9,342 which was repaid which was repaid by 31st December 2024.