Caseware UK (AP4) 2024.0.164 2024.0.164 2025-03-312025-03-312024-04-01falseNo description of principal activity33falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 00688853 2024-04-01 2025-03-31 00688853 2023-04-01 2024-03-31 00688853 2025-03-31 00688853 2024-03-31 00688853 c:Director1 2024-04-01 2025-03-31 00688853 d:Buildings 2024-04-01 2025-03-31 00688853 d:Buildings 2025-03-31 00688853 d:Buildings 2024-03-31 00688853 d:Buildings d:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 00688853 d:LandBuildings 2025-03-31 00688853 d:LandBuildings 2024-03-31 00688853 d:PlantMachinery 2024-04-01 2025-03-31 00688853 d:PlantMachinery 2025-03-31 00688853 d:PlantMachinery 2024-03-31 00688853 d:PlantMachinery d:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 00688853 d:FurnitureFittings 2024-04-01 2025-03-31 00688853 d:FurnitureFittings 2025-03-31 00688853 d:FurnitureFittings 2024-03-31 00688853 d:FurnitureFittings d:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 00688853 d:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 00688853 d:CurrentFinancialInstruments 2025-03-31 00688853 d:CurrentFinancialInstruments 2024-03-31 00688853 d:CurrentFinancialInstruments d:WithinOneYear 2025-03-31 00688853 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 00688853 d:ShareCapital 2025-03-31 00688853 d:ShareCapital 2024-03-31 00688853 d:RevaluationReserve 2025-03-31 00688853 d:RevaluationReserve 2024-03-31 00688853 d:RetainedEarningsAccumulatedLosses 2025-03-31 00688853 d:RetainedEarningsAccumulatedLosses 2024-03-31 00688853 d:AcceleratedTaxDepreciationDeferredTax 2025-03-31 00688853 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 00688853 c:FRS102 2024-04-01 2025-03-31 00688853 c:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 00688853 c:FullAccounts 2024-04-01 2025-03-31 00688853 c:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 00688853 2 2024-04-01 2025-03-31 00688853 5 2024-04-01 2025-03-31 00688853 e:PoundSterling 2024-04-01 2025-03-31 iso4217:GBP xbrli:pure

Registered number: 00688853










MODERN GRAPHIC ARTS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2025

 
MODERN GRAPHIC ARTS LIMITED
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF MODERN GRAPHIC ARTS LIMITED
FOR THE YEAR ENDED 31 MARCH 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Modern Graphic Arts Limited for the year ended 31 March 2025 which comprise  the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of Modern Graphic Arts Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Modern Graphic Arts Limited and state those matters that we have agreed to state to the Board of directors of Modern Graphic Arts Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Modern Graphic Arts Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Modern Graphic Arts Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Modern Graphic Arts Limited. You consider that Modern Graphic Arts Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Modern Graphic Arts Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



MWS Accountants Limited
 
Chartered Accountants
  
4 Chester Court
Chester Hall Lane
Basildon
Essex
SS14 3WR
24 July 2025
Page 1

 
MODERN GRAPHIC ARTS LIMITED
REGISTERED NUMBER: 00688853

BALANCE SHEET
AS AT 31 MARCH 2025

2025
2024
Note
£
£

Fixed assets
  

Tangible assets
 4 
44,949
46,332

  
44,949
46,332

Current assets
  

Stocks
 5 
4,448
3,974

Debtors: amounts falling due within one year
 6 
5,199
10,224

Cash at bank and in hand
 7 
38,851
39,628

  
48,498
53,826

Creditors: amounts falling due within one year
 8 
(5,052)
(9,977)

Net current assets
  
 
 
43,446
 
 
43,849

Total assets less current liabilities
  
88,395
90,181

Provisions for liabilities
  

Deferred tax
 9 
(150)
(200)

  
 
 
(150)
 
 
(200)

Net assets
  
88,245
89,981


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Revaluation reserve
  
40,966
40,966

Profit and loss account
  
46,279
48,015

  
88,245
89,981


Page 2

 
MODERN GRAPHIC ARTS LIMITED
REGISTERED NUMBER: 00688853

BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2025

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and 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 Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 24 July 2025.




R.J. Bultitude
Director

The notes on pages 4 to 10 form part of these financial statements.

Page 3

 
MODERN GRAPHIC ARTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

1.


General information

Modern Graphic Arts Limited is a limited company incorporated in England and Wales. The Registered
Office is 52/54 Milton Road, Westcliff-On-Sea, Essex, SS0 7JX. The registered number is 00688853.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 4

 
MODERN GRAPHIC ARTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 5

 
MODERN GRAPHIC ARTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Freehold property
-
Straight line over 50 years
Plant and machinery
-
25% reducing balance
Computer equipment
-
Straight line over 3 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

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.

Page 6

 
MODERN GRAPHIC ARTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

 
2.11

Creditors

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.

 
2.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2025
        2024
            No.
            No.







Directors
2
2



Administration
1
1

3
3

Page 7

 
MODERN GRAPHIC ARTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

4.


Tangible fixed assets





Freehold property
Plant and machinery
Computers
Total

£
£
£
£



Cost or valuation


At 1 April 2024
80,000
157,045
23,845
260,890



At 31 March 2025

80,000
157,045
23,845
260,890



Depreciation


At 1 April 2024
34,720
155,993
23,845
214,558


Charge for the year on owned assets
1,120
263
-
1,383



At 31 March 2025

35,840
156,256
23,845
215,941



Net book value



At 31 March 2025
44,160
789
-
44,949



At 31 March 2024
45,280
1,052
-
46,332




The net book value of land and buildings may be further analysed as follows:


2025
2024
£
£

Freehold
44,160
45,280

44,160
45,280


Land and buildings with a carrying value of £44,160 were last revalued on 5 October 1992.

If the land and buildings had not been included at valuation they would have been included under the historical cost convention as follows:

2025
2024
£
£



Cost
15,582
15,582

Accumulated depreciation
(7,878)
(7,660)

Net book value
7,704
7,922

Page 8

 
MODERN GRAPHIC ARTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

5.


Stocks

2025
2024
£
£

Raw materials and consumables
4,053
3,964

Work in progress (goods to be sold)
395
10

4,448
3,974



6.


Debtors

2025
2024
£
£


Trade debtors
4,037
8,960

Prepayments and accrued income
1,162
1,264

5,199
10,224



7.


Cash and cash equivalents

2025
2024
£
£

Cash at bank and in hand
38,851
39,628

38,851
39,628



8.


Creditors: Amounts falling due within one year

2025
2024
£
£

Trade creditors
2,548
6,046

Corporation tax
241
1,254

Other taxation and social security
1,166
962

Other creditors
13
11

Accruals and deferred income
1,084
1,704

5,052
9,977



9.


Deferred taxation

Page 9

 
MODERN GRAPHIC ARTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
 
9.Deferred taxation (continued)




2025


£






At beginning of year
(200)


Charged to profit or loss
50



At end of year
(150)

The provision for deferred taxation is made up as follows:

2025
2024
£
£


Accelerated capital allowances
150
200

150
200


10.


Related party transactions

During the year dividends were paid to directors amounting to £929 (2024 £1,858)


Page 10