Registration number:
Alex Graham Limited
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Alex Graham Limited
Contents
Company Information |
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Directors' Report |
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Statement of Income and Retained Earnings |
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Statement of Financial Position |
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Notes to the Unaudited Financial Statements |
Alex Graham Limited
Company Information
Directors |
Mrs Arran Steel Keith Mr Alistair John Keith |
Company secretary |
Mr Alistair John Keith |
Registered office |
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Accountants |
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Alex Graham Limited
Directors' Report for the Year Ended 31 May 2024
The directors present their report and the financial statements for the year ended 31 May 2024.
Directors of the company
The directors who held office during the year were as follows:
Small companies provision statement
This report has 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.
Approved by the Board on
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Mr Alistair John Keith
Director
Alex Graham Limited
Statement of Income and Retained Earnings for the Year Ended 31 May 2024
Note |
2024 |
2023 |
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Turnover |
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Cost of sales |
( |
( |
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Gross profit |
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Administrative expenses |
( |
( |
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Operating loss |
( |
( |
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Loss before tax |
( |
( |
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Loss for the financial year |
( |
( |
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Retained earnings brought forward |
201,565 |
290,411 |
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Retained earnings carried forward |
171,285 |
201,565 |
Alex Graham Limited
Statement of Financial Position as at 31 May 2024
Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
- |
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Investments |
140,797 |
137,338 |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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For the financial year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their 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 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
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 Statement of Income and Retained Earnings has been taken.
Alex Graham Limited
Statement of Financial Position as at 31 May 2024
Approved and authorised by the
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Mrs Arran Steel Keith
Director
Company registration number: 01918281
Alex Graham Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024
General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
The principal activity of the company is that of professional artists and cartoonists.
Accounting policies |
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 except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.
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, unless otherwise stated.
Going concern
The company had net assets at 31 May 2024 of £171,385 including cash at bank of £30,277.
On the basis of the above, and after making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.
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 sales/value added tax, returns, rebates and discounts.
The company recognises contracted revenue based upon the delivery of the artwork to the customer in accordance with the terms of the contract. The company recognises syndicated revenue based upon the sales reported to the agent by the various territories in which rights have been granted.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Alex Graham Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Fixtures, fittings and equipment |
20% Straight line |
Investments
Investments in bonds and shares are carried at fair value based upon the market value at the statement of financial position date, with movements in fair value reflected within profit and loss.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
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. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Staff numbers |
The average number of persons employed by the company during the year was
Loss before tax |
Arrived at after charging/(crediting)
2024 |
2023 |
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Depreciation expense |
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Alex Graham Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024
Tangible assets |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 June 2023 |
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At 31 May 2024 |
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Depreciation |
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At 1 June 2023 |
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Charge for the year |
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At 31 May 2024 |
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Carrying amount |
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At 31 May 2024 |
- |
- |
At 31 May 2023 |
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Investments |
2024 |
2023 |
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Fair value |
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Quoted investments |
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Quoted investments |
Total |
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Cost or valuation |
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At 1 June 2023 |
137,338 |
137,338 |
Fair value adjustments |
3,459 |
3,459 |
At 31 May 2024 |
140,797 |
140,797 |
Alex Graham Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024
Debtors |
2024 |
2023 |
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Trade debtors |
- |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
2024 |
2023 |
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Trade creditors |
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- |
Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Transactions with directors |
At 31 May 2024 an amount of £2,008 (2023: £149) was due from a director. During the year, there were advances of £31,038 and repayments of £29,179. No interest (2023: £Nil) has been charged in the year and there are no set terms in place.
Reserves |
The profit and loss account includes an amount of £50,098 (2023: - £46,639) which is non-distributable.