Company Registration Number: NI005356
GRAPHIC PLATES LIMITED
UNAUDITED
FINANCIAL STATEMENTS
31 DECEMBER 2024
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GRAPHIC PLATES LIMITED
COMPANY INFORMATION
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K Eblett (appointed 8 January 2024)
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Newpark Industrial Estate
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Armstrong Watson Audit Limited
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GRAPHIC PLATES LIMITED
CONTENTS
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Statement of comprehensive income
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Statement of financial position
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Notes to the financial statements
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GRAPHIC PLATES LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The directors present their strategic report for the year ended 31 December 2024. The directors, in preparing this strategic report, have complied with s414C of the Companies Act 2006.
Graphic Plates is a non-trading subsidiary of Bailie Group Limited and parent company to companies within the Bailie Group (Note 5 to the accounts).
Principal risks and uncertainties
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The principal risk facing the Group is the reliance on public sector business which currently accounts for 80% of the revenues. Tight public sector finances and economic uncertainty continues to lead to a delay in customer decision making, and budgets being tightened. The Group has put in place sales plans and structures to promote and generate work in other sectors such as Financial Services, Security and Travel.
An additional risk to the Group is the defined benefit pension scheme within CDS. The deficit is being proactively managed, and a deficit reduction plan has been agreed. The company believes the recovery plan is in the interests of all stakeholders as it strikes a balance between deficit reduction and reinvestment in the company.
Looking ahead, the Group is well placed to continue to offer modern communications and is ideally positioned to assist organisations with growth services such as digital transformation, data analytics, automation and cyber.
Directors' statement of compliance with duty to promote the success of the Company
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The Directors of the company have acted in a way which is likely to promote the success of the company for the benefits of its members as a whole and in doing so had regard (among other matters) to:
(a) the likely consequences of any decision in the long term;
(b) the interests of the company's employees;
(c) the need to foster the company's business relationships with suppliers, customers and others;
(d) the impact of the company's operations on the community and the environment,
(e) the desirability of the company maintaining a reputation for high standards of business conduct; and
(f) the need to act fairly between members of the company.
This report was approved by the board and signed on its behalf.
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F Bailie
Director
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Page 1
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GRAPHIC PLATES LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The directors present their report and the financial statements for the year ended 31 December 2024.
The directors who served during the year were:
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K Eblett (appointed 8 January 2024)
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P Walter (resigned 5 April 2024)
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Post balance sheet events
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There have been no significant events affecting the Company since the year end.
This report was approved by the board and signed on its behalf.
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F Bailie
Director
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Page 2
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GRAPHIC PLATES LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2024
The Company has not traded during the year or the preceding financial year. During these periods, the Company received no income and incurred no expenditure and therefore made neither profit or loss.
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Page 3
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GRAPHIC PLATES LIMITED
REGISTERED NUMBER: NI005356
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024
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Creditors: amounts falling due within one year
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For the year ended 31 December 2024 the Company was entitled to exemption from audit under section 480 of the Companies Act 2006.
The members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
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F Bailie
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The notes on pages 5 to 8 form part of these financial statements.
Page 4
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GRAPHIC PLATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Graphic Plates Limited is a private company limited by shares incorporated in Northern Ireland. The company's registered office address is Baird House, Newpark Industrial Estate, Greystone Press, Caulside Drive, Antrim, BT41 2RS.
The company is a non-trading holding company.
These financial statements have been presented in pound sterling as this is the currency of the primary economic environment in which the entity operates.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
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Financial Reporting Standard 102 - reduced disclosure exemptions
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The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
∙the requirements of Section 7 Statement of Cash Flows;
∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d).
This information is included in the consolidated financial statements of Bailie Group Limited as at 31 December 2024 and these financial statements may be obtained from Companies House, Crown Way, Cardiff, CF14 3UZ.
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Exemption from preparing consolidated financial statements
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The Company is a parent company that is also a subsidiary included in the consolidated financial statements of a larger group by a parent undertaking established under the law of any part of the United Kingdom and is therefore exempt from the requirement to prepare consolidated financial statements under section 400 of the Companies Act 2006.
Graphic Plates Limited is a non-trading holding company and a subsidiary of Bailie Group Limited.
The directors have prepared forecasts for the Group for a period to 31 March 2026 and have reviewed the resources available and beleive that the Group and company have adequate resources to continue in operational existence for the foreseeable future. The directors, therefore, believe that it is appropriate to continue to adopt the going concern basis in preparing the financial statements.
Investments in subsidiaries are measured at cost less accumulated impairment.
Page 5
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GRAPHIC PLATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
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Judgements in applying accounting policies and key sources of estimation uncertainty
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The preparation of these financial statements requires management to make judgements, estimates and assumptions that effect the application of policies and reported amounts of assets and liabilities, income and expenses.
Judgements and estimates are continually evaluated and are based on historical experiences and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The company makes estimates and assumptions concerning the future. The resulting accounting estimates will be, by definition, seldom equal to the related actual results.
The critical judgements made by management that have a significant effect on the amounts recognised in
the financial statements are described below.
Carrying value of investment in subsidiary undertakings
The directors consider that material estimates and judgements are applied in assessing the recoverable
amount of investments through the calculation of the net present value of future cash flows (fair value in
use) or the net assets of subsidiary undertakings. Underlying assumptions within those models include
discount rates, growth rates and cost inflation.
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The average monthly number of employees, including directors, during the year was 3 (2023 - 3).
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Page 6
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GRAPHIC PLATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Investments in subsidiary companies
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The following were subsidiary undertakings of the Company:
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C/O Bailie Group, Newpark Industrial Estate, Caulside Drive, Antrim, BT41 2RS
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Corporate Document Services Limited
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Riverside House, 7 Canal Wharf, Leeds, LS11 5AS
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Bailie Group Business Services Limited
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Riverside House, 7 Canal Wharf, Leeds, LS11 5AS
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Riverside House, 7 Canal Wharf, Leeds, LS11 5AS
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C/O Riverside House, 7 Canal Wharf, Leeds, LS11 5AS
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The Bramery, Alstone Lane, Cheltenham, GL51 8HE
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CDS Print Services Limited*
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Riverside House, 7 Canal Wharf, Leeds, LS11 5AS
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C/O The Bramery, Alstone Lane, Cheltenham, GL51 8HE
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Page 7
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GRAPHIC PLATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Cash and cash equivalents
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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The ultimate parent undertaking is Bailie Group Limited a company incorporated in Northern Ireland.
Bailie Group Limited is the largest and smallest group into which Graphic Plates Limited is consolidated. Copies of the consolidated financial statements of Bailie Group Limited are available from Companies House, Crown Way, Cardiff, CF14 3UZ.
The Group continues to be controlled by the Bailie family throughout the current and previous year.
Page 8
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