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Registration number: 07746719

The Graphic Mill Limited

Annual Report and Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 December 2024

 

The Graphic Mill Limited

Contents

Abridged Balance Sheet

1 to 2

Notes to the Unaudited Abridged Financial Statements

3 to 6

 

The Graphic Mill Limited

(Registration number: 07746719)
Abridged Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

11,000

-

Tangible assets

5

439,060

175,651

 

450,060

175,651

Current assets

 

Stocks

6

25,429

18,528

Debtors

151,156

95,901

Cash at bank and in hand

 

67,278

86,891

 

243,863

201,320

Creditors: Amounts falling due within one year

(246,493)

(95,769)

Net current (liabilities)/assets

 

(2,630)

105,551

Total assets less current liabilities

 

447,430

281,202

Creditors: Amounts falling due after more than one year

(309,817)

(151,391)

Provisions for liabilities

(71,420)

(42,719)

Net assets

 

66,193

87,092

Capital and reserves

 

Called up share capital

150

150

Profit and loss account

66,043

86,942

Total equity

 

66,193

87,092

 

The Graphic Mill Limited

(Registration number: 07746719)
Abridged Balance Sheet as at 31 December 2024

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 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.

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.

All of the Company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 9 May 2025 and signed on its behalf by:
 

Mr D Speich

Director

 

The Graphic Mill Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2024

1

General information

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

The address of its registered office is:
Weavers Yard
Little Common
North Bradley
Trowbridge
BA14 0TX
England

These financial statements were authorised for issue by the Board on 9 May 2025.

2

Accounting policies

Statement of compliance

These abridged financial statements were 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 abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and 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 revenue when the amount of revenue can be reliably measured, it is probable the future economic benefits will flow into the entity, and specific criteria have been met for each of the company activities.

Tax

The tax expense for the period comprises current and deferred 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 tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred 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.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

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 Graphic Mill Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 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

Plant and machinery

25% per annum reducing balance

Motor vehicles

25% per annum reducing balance

Furniture and fittings

25% per annum reducing balance

Exhibition system

25% per annum straight line

Leasehold improvements

10% straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 15 (2023 - 14).

 

The Graphic Mill Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2024

4

Intangible assets

Total
£

Cost or valuation

Additions internally developed

11,000

At 31 December 2024

11,000

Amortisation

Carrying amount

At 31 December 2024

11,000

5

Tangible assets

Total
£

Cost or valuation

At 1 January 2024

352,273

Additions

379,370

At 31 December 2024

731,643

Depreciation

At 1 January 2024

176,621

Charge for the year

115,962

At 31 December 2024

292,583

Carrying amount

At 31 December 2024

439,060

At 31 December 2023

175,651

6

Stocks

2024
£

2023
£

Stock

25,429

18,528

7

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £18,957 (2023 - £34,401).

 

The Graphic Mill Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2024

8

Related party transactions

Advances to directors


Mr D Speich

During the period Mr D Speich went overdrawn on their director's loan account. The maximum overdrawn balance during the year was £61,870 (2023 - £53,182). At the year end the amount outstanding from Mr D Speich was £51,450 (2023 - £52,870). Interest has been charged at the commercial rate.

9

Parent and ultimate parent undertaking

The company's immediate parent is The Graphic Mill Holdings Limited, incorporated in England & Wales.