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REGISTERED NUMBER: 03089657 (England and Wales)















Unaudited Financial Statements for the Year Ended 29 February 2024

for

Grafo-Products Limited

Grafo-Products Limited (Registered number: 03089657)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Grafo-Products Limited

Company Information
for the Year Ended 29 February 2024







DIRECTOR: GL Coles





SECRETARY: Mrs GV Coles





REGISTERED OFFICE: BR Goods Depot
St Johns Road
Saxmundham
Suffolk
IP17 1BE





REGISTERED NUMBER: 03089657 (England and Wales)





ACCOUNTANTS: Mark Carter Accountancy Services Ltd
65 Kennedy Avenue
Halesworth
Suffolk
IP19 8EQ

Grafo-Products Limited (Registered number: 03089657)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 152,773 160,688

CURRENT ASSETS
Stocks 40,200 48,000
Debtors 5 536,900 549,324
Cash at bank and in hand 67,711 93,988
644,811 691,312
CREDITORS
Amounts falling due within one year 6 32,185 36,421
NET CURRENT ASSETS 612,626 654,891
TOTAL ASSETS LESS CURRENT
LIABILITIES

765,399

815,579

CREDITORS
Amounts falling due after more than
one year

7

(58,060

)

(54,624

)

PROVISIONS FOR LIABILITIES - (8,306 )
NET ASSETS 707,339 752,649

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 707,239 752,549
SHAREHOLDERS' FUNDS 707,339 752,649

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

Grafo-Products Limited (Registered number: 03089657)

Balance Sheet - continued
29 February 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 29 November 2024 and were signed by:





GL Coles - Director


Grafo-Products Limited (Registered number: 03089657)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Grafo-Products 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The principle accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year and also have been consistently applied within the same accounts.

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.
Freehold property - in accordance with the property
Equipment - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Plant & machinery - 20% on reducing balance

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.

Grafo-Products Limited (Registered number: 03089657)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


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.

Turnover
Turnover represents the invoiced value, net of Value Added Tax, of goods sold and services provided to customers during the year.

Stocks and work in progress
Stocks and work in progress have been valued at the lower of cost and net realisable value. Cost of finished goods and work in progress includes overheads appropriate to the stage of completion. Net realisable value is based upon estimated selling price less further costs expected to be incurred to completion and disposal. Provision is made for obsolete and slow-moving items.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

Grafo-Products Limited (Registered number: 03089657)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

4. TANGIBLE FIXED ASSETS
Freehold Motor Plant &
property Equipment vehicles machinery Totals
£    £    £    £    £   
COST
At 1 March 2023 65,000 35,548 105,250 132,540 338,338
Additions - - - 17,585 17,585
At 29 February 2024 65,000 35,548 105,250 150,125 355,923
DEPRECIATION
At 1 March 2023 22,475 21,446 36,987 96,742 177,650
Charge for year 850 2,820 13,652 8,178 25,500
At 29 February 2024 23,325 24,266 50,639 104,920 203,150
NET BOOK VALUE
At 29 February 2024 41,675 11,282 54,611 45,205 152,773
At 28 February 2023 42,525 14,102 68,263 35,798 160,688

Included in total net book value of tangible fixed assets held at 29 February 2024 was £ 12,495 (2023 £ 14,822 ) in respect of assets held under finance leases and hire purchase contracts.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Amounts recoverable on contract 26,851 35,976
Other debtors 510,049 513,348
536,900 549,324

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts 6,730 7,325
Hire purchase contracts 4,165 6,514
Trade creditors 2,305 1,546
Taxation and social security 10,559 16,854
Other creditors 8,426 4,182
32,185 36,421

Grafo-Products Limited (Registered number: 03089657)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans 49,730 54,624
Hire purchase contracts 8,330 -
58,060 54,624

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years by
instalments

16,950

21,620

8. SECURED DEBTS

The following secured debts are included within creditors:

29.2.24 28.2.23
£    £   
Bank loans 56,460 61,949
Hire purchase contracts 12,495 6,514
68,955 68,463

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 29 February 2024 and 28 February 2023:

29.2.24 28.2.23
£    £   
GL Coles
Balance outstanding at start of year - 13,061
Amounts repaid - (13,061 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -