Graphmasters Limited
Unaudited Financial Statements
For the year ended 30 November 2024
Pages for Filing with Registrar
Company Registration No. 11056744 (England and Wales)
Graphmasters Limited
Contents
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
Graphmasters Limited
Balance Sheet
As at 30 November 2024
30 November 2024
Page 1
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
-
0
464
Tangible assets
4
8,386
10,828
8,386
11,292
Current assets
Debtors
5
12,979
105,435
Cash at bank and in hand
17,558
13,263
30,537
118,698
Creditors: amounts falling due within one year
6
(5,902)
(94,086)
Net current assets
24,635
24,612
Net assets
33,021
35,904
Capital and reserves
Called up share capital
7
1,000
1,000
Profit and loss reserves
32,021
34,904
Total equity
33,021
35,904

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Graphmasters Limited
Balance Sheet (Continued)
As at 30 November 2024
30 November 2024
Page 2
The financial statements were approved and signed by the director and authorised for issue on 24 March 2025
I. Nitescu
Director
Company Registration No. 11056744
Graphmasters Limited
Notes to the Financial Statements
For the year ended 30 November 2024
Page 3
1
Accounting policies
Company information

Graphmasters Limited is a private company limited by shares incorporated in England and Wales. The registered office is 6th Floor, 9 Appold Street, London, EC2A 2AP.

1.1
Accounting convention

These financial statements have been prepared in accordance with Section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

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

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

 

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Software
3 years on straight line
Graphmasters Limited
Notes to the Financial Statements (Continued)
For the year ended 30 November 2024
1
Accounting policies
(Continued)
Page 4
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
3 years on straight line
Computer Equipment
3 years on straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Graphmasters Limited
Notes to the Financial Statements (Continued)
For the year ended 30 November 2024
Page 5
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
4
5
3
Intangible fixed assets
Software
£
Cost
At 1 December 2023
2,083
Disposals
(2,083)
At 30 November 2024
-
0
Amortisation and impairment
At 1 December 2023
1,619
Amortisation charged for the year
464
Disposals
(2,083)
At 30 November 2024
-
0
Carrying amount
At 30 November 2024
-
0
At 30 November 2023
464
Graphmasters Limited
Notes to the Financial Statements (Continued)
For the year ended 30 November 2024
Page 6
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2023
39,160
Additions
3,666
Disposals
(17,159)
At 30 November 2024
25,667
Depreciation and impairment
At 1 December 2023
28,332
Depreciation charged in the year
5,845
Eliminated in respect of disposals
(16,896)
At 30 November 2024
17,281
Carrying amount
At 30 November 2024
8,386
At 30 November 2023
10,828
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
-
0
87,984
Other debtors
8,139
10,545
Prepayments and accrued income
4,840
6,906
12,979
105,435
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
2,162
4,975
Corporation tax
-
0
1,157
Other taxation and social security
1
14,544
Other creditors
639
19,350
Accruals and deferred income
3,100
54,060
5,902
94,086
Graphmasters Limited
Notes to the Financial Statements (Continued)
For the year ended 30 November 2024
Page 7
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1,000
1,000
1,000
1,000
8
Parent company

The ultimate controlling part is Graphmasters SA due to a majority shareholding. The accounts for this company are available from Letzigraben 89, 8003, Zürich, Switzerland.

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