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REGISTERED NUMBER: 02148956 (England and Wales)











Financial Statements

for the Year Ended 30 June 2024

for

GRAPHEX SYSTEMS LIMITED

GRAPHEX SYSTEMS LIMITED (REGISTERED NUMBER: 02148956)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GRAPHEX SYSTEMS LIMITED

Company Information
for the Year Ended 30 June 2024







DIRECTORS: Mrs S M Davis
Mrs J Gant
Mr T Davis
Mr I Davis
Mr G J Davis





SECRETARY: Mrs S M Davis





REGISTERED OFFICE: 42 Lytton Road
Barnet
Hertfordshire
EN5 5BY





REGISTERED NUMBER: 02148956 (England and Wales)





ACCOUNTANTS: Jeff Lermer & Associates
Chartered Accountants
42 Lytton Road
Barnet
Hertfordshire
EN5 5BY

GRAPHEX SYSTEMS LIMITED (REGISTERED NUMBER: 02148956)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investments 5 1,651,540 1,480,700
1,651,540 1,480,700

CURRENT ASSETS
Debtors 6 11,280 11,509
Investments 7 453,792 836,677
Cash at bank 213,886 45,459
678,958 893,645
CREDITORS
Amounts falling due within one year 8 196,286 378,958
NET CURRENT ASSETS 482,672 514,687
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,134,212

1,995,387

PROVISIONS FOR LIABILITIES 9 81,953 39,243
NET ASSETS 2,052,259 1,956,144

CAPITAL AND RESERVES
Called up share capital 10 131,511 131,511
Non distributable reserves 11 263,089 134,959
Retained earnings 11 1,657,659 1,689,674
SHAREHOLDERS' FUNDS 2,052,259 1,956,144

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

GRAPHEX SYSTEMS LIMITED (REGISTERED NUMBER: 02148956)

Balance Sheet - continued
30 June 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 Board of Directors and authorised for issue on 28 March 2025 and were signed on its behalf by:





Mrs S M Davis - Director


GRAPHEX SYSTEMS LIMITED (REGISTERED NUMBER: 02148956)

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

1. STATUTORY INFORMATION

Graphex Systems 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 as modified by the revaluation of certain assets.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

3. EMPLOYEES AND DIRECTORS

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

GRAPHEX SYSTEMS LIMITED (REGISTERED NUMBER: 02148956)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 July 2023
and 30 June 2024 1,684
DEPRECIATION
At 1 July 2023
and 30 June 2024 1,684
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 -

5. FIXED ASSET INVESTMENTS
Shares in
group Listed
undertakings investments Totals
£    £    £   
COST OR VALUATION
At 1 July 2023 6,933 1,473,767 1,480,700
Revaluations - 170,840 170,840
At 30 June 2024 6,933 1,644,607 1,651,540
NET BOOK VALUE
At 30 June 2024 6,933 1,644,607 1,651,540
At 30 June 2023 6,933 1,473,767 1,480,700

Cost or valuation at 30 June 2024 is represented by:

Shares in
group Listed
undertakings investments Totals
£    £    £   
Valuation in 2019 - 71,388 71,388
Valuation in 2020 - (46,097 ) (46,097 )
Valuation in 2021 - 235,508 235,508
Valuation in 2022 - (103,296 ) (103,296 )
Valuation in 2023 - 3,766 3,766
Valuation in 2024 - 170,841 170,841
Cost 6,933 1,312,497 1,319,430
6,933 1,644,607 1,651,540

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Other debtors 11,280 11,280
Prepayments and accrued income - 229
11,280 11,509

GRAPHEX SYSTEMS LIMITED (REGISTERED NUMBER: 02148956)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

7. CURRENT ASSET INVESTMENTS
30.6.24 30.6.23
£    £   
Unlisted investments 453,792 836,677

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Directors' current accounts 192,496 375,168
Accrued expenses 3,790 3,790
196,286 378,958

9. PROVISIONS FOR LIABILITIES
30.6.24 30.6.23
£    £   
Deferred tax 81,953 39,243

Deferred
tax
£   
Balance at 1 July 2023 39,243
Provided during year 42,710
Balance at 30 June 2024 81,953

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 30.6.23
value: £    £   
1 A Ordinary £1 1 1
1 B Ordinary £1 1 1
1 C Ordinary £1 1 1
1 D Ordinary £1 1 1
1 E Ordinary £1 1 1
1 F Ordinary £1 1 1
1 G Ordinary £1 1 1
1 H Ordinary £1 1 1
1 I Ordinary £1 1 1
67,060 A1 Ordinary £1 67,060 67,060
6,581 A2 Ordinary £1 6,581 6,581
57,861 A3 Ordinary £1 57,861 57,861
131,511 131,511

GRAPHEX SYSTEMS LIMITED (REGISTERED NUMBER: 02148956)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

11. RESERVES
Non
Retained distributable
earnings reserves Totals
£    £    £   

At 1 July 2023 1,689,674 134,959 1,824,633
Profit for the year 96,616 96,616
Dividends (500 ) (500 )
Non distributable reserves (128,131 ) 128,130 (1 )
At 30 June 2024 1,657,659 263,089 1,920,748

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2024 and 30 June 2023:

30.6.24 30.6.23
£    £   
Mrs S M Davis
Balance outstanding at start of year - 416,999
Amounts advanced - 110,185
Amounts repaid - (527,184 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

13. RELATED PARTY DISCLOSURES

As at the balance sheet date, included in creditors due within one year is £192,496 (2023: £375,168), due and payable to the directors. The amount is interest free and repayable on demand.

14. ULTIMATE CONTROLLING PARTY

The ultimate controlling parties are Mrs J Gant and Mr T Davis.