GraphixAsset Limited 03583711 false 2023-07-01 2024-06-30 2024-06-30 The principal activity of the company is that of software design and consultancy. Digita Accounts Production Advanced 6.30.9574.0 true true 03583711 2023-07-01 2024-06-30 03583711 2024-06-30 03583711 bus:OrdinaryShareClass1 2024-06-30 03583711 core:WithinOneYear 2024-06-30 03583711 core:FurnitureFittingsToolsEquipment 2024-06-30 03583711 bus:SmallEntities 2023-07-01 2024-06-30 03583711 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 03583711 bus:FilletedAccounts 2023-07-01 2024-06-30 03583711 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 03583711 bus:RegisteredOffice 2023-07-01 2024-06-30 03583711 bus:Director1 2023-07-01 2024-06-30 03583711 bus:OrdinaryShareClass1 2023-07-01 2024-06-30 03583711 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 03583711 core:FurnitureFittings 2023-07-01 2024-06-30 03583711 core:FurnitureFittingsToolsEquipment 2023-07-01 2024-06-30 03583711 countries:EnglandWales 2023-07-01 2024-06-30 03583711 core:FurnitureFittingsToolsEquipment 2023-06-30 03583711 2022-07-01 2023-06-30 03583711 bus:OrdinaryShareClass1 2023-06-30 03583711 core:WithinOneYear 2023-06-30 03583711 core:FurnitureFittingsToolsEquipment 2023-06-30 xbrli:pure iso4217:GBP xbrli:shares

Registration number: 03583711

GraphixAsset Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

Pages for filing with Registrar

 

GraphixAsset Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

GraphixAsset Limited

Company Information

Director

C J Gledhill

Registered office

The Old Brewery Office Park 7 - 11 Lodway
Pill
Bristol
BS20 0DH

Registered number

03583711

Accountant

Corrigan Accountants Limited
1st Floor
25 King Street
Bristol
BS1 4PB

 

GraphixAsset Limited

(Registration number: 03583711)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

5,239

6,567

Current assets

 

Debtors

5

26,843

11,213

Cash at bank and in hand

 

72,702

58,148

 

99,545

69,361

Creditors: Amounts falling due within one year

6

(65,924)

(60,664)

Net current assets

 

33,621

8,697

Total assets less current liabilities

 

38,860

15,264

Creditors: Amounts falling due after more than one year

6

(11,521)

(17,791)

Net assets/(liabilities)

 

27,339

(2,527)

Capital and reserves

 

Called up share capital

7

3

3

Share premium reserve

192,749

192,749

Profit and loss account

(165,413)

(195,279)

Total equity

 

27,339

(2,527)

 

GraphixAsset Limited

(Registration number: 03583711)
Balance Sheet as at 30 June 2024

For the financial year ending 30 June 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised for issue by the director on 27 January 2025
 

.........................................

C J Gledhill

Director

 

GraphixAsset Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

Statutory information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
The Old Brewery Office Park 7 - 11 Lodway
Pill
Bristol
BS20 0DH

2

Accounting policies

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention.

The financial statements are prepared in pounds sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

The company’s financial statements have been prepared on a going concern basis. The director has considered a period of twelve months from the date of approval of the financial statements and believes that the company is able to meet liabilities as they fall due.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured; and it is probable that future economic benefits will flow to the entity.

Government grants

Government grants are recognised, using the accrual model, at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received.

 

GraphixAsset Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Tax

The tax expense or credit for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge or credit is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.


Deferred tax
Deferred corporation tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Tangible fixed assets

Tangible fixed assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation.

The cost of tangible fixed assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Fixtures, fittings and equipment

25% on cost

Research and development costs

Expenditure on research and development is written off to the profit and loss account during the year in which it is incurred.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

Trade debtors are recognised initially at the transaction price. They are subsequently measured at cost, less any provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are recognised at the transaction price.

 

GraphixAsset Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.

The cost of any unused holiday entitlement is recognised in the period in which the employees' services are received.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2023 - 5).

 

GraphixAsset Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

4

Tangible fixed assets

Furniture, fittings and equipment
 £

Cost

At 1 July 2023

22,409

Additions

645

At 30 June 2024

23,054

Depreciation

At 1 July 2023

15,842

Charge for the year

1,973

At 30 June 2024

17,815

Carrying amount

At 30 June 2024

5,239

At 30 June 2023

6,567

5

Debtors: amounts falling due within one year

2024
£

2023
£

Trade debtors

22,834

9,859

Other debtors

1,000

1,000

Prepayments

3,009

354

26,843

11,213

 

GraphixAsset Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

6

Creditors

2024
£

2023
£

Bank loans and overdrafts

8,460

8,004

Trade creditors

12,848

9,134

Taxation and social security

21,202

19,471

Other creditors

948

2,270

Accruals and deferred income

22,466

21,785

65,924

60,664

Due after one year

Loans and borrowings

11,521

17,791


The borrowings represent a Bounce Back Loan which is repayable by 31 May 2026. The loan is unsecured.

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £0.001 each

2,857

2.86

2,857

2.86

         

8

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2024
£

2023
£

5,638

6,724

The amount of non-cancellable operating lease payments recognised as an expense during the year was £7,961 (2022- £15,521).