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GENERATION GRAPHICS LIMITED

Registered Number
11054975
(England and Wales)

Unaudited Financial Statements for the Year ended
30 November 2024

GENERATION GRAPHICS LIMITED
Company Information
for the year from 1 December 2023 to 30 November 2024

Director

LOVESEY, Thomas Oliver

Registered Address

C/O Smooth Accounting Limited
Building 1000 Lakeside North Harbour
Western Road
PO6 3EN

Registered Number

11054975 (England and Wales)
GENERATION GRAPHICS LIMITED
Balance Sheet as at
30 November 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets468,75180,767
Investments514,413-
83,16480,767
Current assets
Debtors6,720,80720,551
Cash at bank and on hand26,41343,230
47,22063,781
Creditors amounts falling due within one year8(93,523)(107,501)
Net current assets (liabilities)(46,303)(43,720)
Total assets less current liabilities36,86137,047
Creditors amounts falling due after one year9(17,314)(26,144)
Provisions for liabilities11(6,543)(10,184)
Net assets13,004719
Capital and reserves
Called up share capital1,0001,000
Profit and loss account12,004(281)
Shareholders' funds13,004719
The financial statements were approved and authorised for issue by the Director on 29 August 2025, and are signed on its behalf by:
LOVESEY, Thomas Oliver
Director
Registered Company No. 11054975
GENERATION GRAPHICS LIMITED
Notes to the Financial Statements
for the year ended 30 November 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Revenue from rendering of services
Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)Straight line (years)
Land and buildings-10
Plant and machinery25-
Fixtures and fittings33-
Vehicles20-
Office Equipment33-
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
Related parties
For the purposes of these financial statements, a related party could be a person or an entity. Careful consideration is given to the definition of a related party to ensure that all related party relationships, transactions and balances are identified.
2.Average number of employees

20242023
Average number of employees during the year54
3.Deferred tax
Increases in the UK Corporation tax rate from 19% to 25% (19% effective from 1 April 2017, and 25% effective from 1 April 2023) have been substantively enacted. This will impact the company's future tax charge accordingly. The value of the deferred tax assets at the balance sheet date has been calculated using the applicable rate when the asset is expected to be realised.
4.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Fixtures & fittings

Office Equipment

Total

££££££
Cost or valuation
At 01 December 2315,29625,97956,6108,49640,355146,736
Additions2,2952,637-1,3321,9718,235
At 30 November 2417,59128,61656,6109,82842,326154,971
Depreciation and impairment
At 01 December 234,89711,42015,9716,52927,15265,969
Charge for year1,7594,3008,1281,0575,00720,251
At 30 November 246,65615,72024,0997,58632,15986,220
Net book value
At 30 November 2410,93512,89632,5112,24210,16768,751
At 30 November 2310,39914,55940,6391,96713,20380,767
5.Fixed asset investments

Loans to groups1

Total

££
Cost or valuation
Additions14,41314,413
At 30 November 2414,41314,413
Net book value
At 30 November 2414,41314,413
At 30 November 23--

Notes

1Loans to group undertakings and participating interests
6.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables14,95213,347
Other debtors2,2942,633
Prepayments and accrued income3,5614,571
Total20,80720,551
7.Debtors: amounts due after one year
8.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables27,0858,569
Taxation and social security17,95616,686
Other creditors48,42782,178
Accrued liabilities and deferred income5568
Total93,523107,501
9.Creditors: amounts due after one year

2024

2023

££
Other creditors17,31426,144
Total17,31426,144
10.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts17,31426,144
11.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)6,54310,184
Total6,54310,184
12.Other commitments
The hire of motor vehicle includes a leased car with a monthly payments of £419.15 The total length of the second lease is 17 months and the last payment is due in May 2026 A portion of the rent included within the accounts includes quartely payments of £1,312.50. The total length of the lease is 60 months and the last payment is due to be made April 2027. The other portion of the rent amount included within the accounts includes storage rental which is attached to no specific commitment and is now paid on a rolling monthly basis.
13.Related party transactions
A company under common control of directors and shareholders.A loan of £14,262 was made to Studio Wrap Ltd. This amount is unsecured, interest free and repayable upon demand