Registration number: 04736435

Graham Norwood Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 7

Graham Norwood Limited

Company Information

Directors

G M Norwood H Crossfield

Registered office

1 Colleton Crescent Exeter Devon EX2 4DG

Accountants

Thompson Jenner LLP Chartered Accountants 1 Colleton Crescent Exeter Devon EX2 4DG

Graham Norwood Limited

(Registration number: 04736435)
Balance Sheet as at 30 April 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	415	1,549
Current assets
Debtors	5	10,125	4,210
Cash at bank and in hand		4,948	8,862
		15,073	13,072
Creditors: Amounts falling due within one year	6	(9,901)	(7,294)
Net current assets		5,172	5,778
Total assets less current liabilities		5,587	7,327
Provisions for liabilities		(296)	(296)
Net assets		5,291	7,031
Capital and reserves
Called up share capital		100	100
Retained earnings		5,191	6,931
Shareholders' funds		5,291	7,031

For the financial year ending 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 3 September 2025 and signed on its behalf by:
 

......................................... G M Norwood Director

Graham Norwood Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

1	General information

The company is a private company limited by share capital, incorporated in the United Kingdom.

The address of its registered office is:
1 Colleton Crescent
Exeter
Devon
EX2 4DG

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These 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.

Going concern

The financial statements have been prepared on a going concern basis.

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 that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Government grants

The job retention scheme grant has been recognised under the accrual model and is credited to income over the periods in which the compensated costs have been recognised.

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.

Graham Norwood Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

The current income 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 income 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 balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

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
Property improvements	Straight line over 5 years
Furniture and equipment	Straight line over 3 years
Motor vehicles	33% reducing balance basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Graham Norwood Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

Graham Norwood Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

4	Tangible assets

	Property improvements £	Furniture and equipment  £	Total £
Cost or valuation
At 1 May 2024	7,625	26,371	33,996
At 30 April 2025	7,625	26,371	33,996
Depreciation
At 1 May 2024	7,625	24,822	32,447
Charge for the year	-	1,134	1,134
At 30 April 2025	7,625	25,956	33,581
Carrying amount
At 30 April 2025	-	415	415
At 30 April 2024	-	1,549	1,549

5

Debtors

	2025 £	2024 £
Other debtors	10,125	4,210
Total current trade and other debtors	10,125	4,210

6

Creditors

	2025 £	2024 £
Due within one year
Taxation and social security	7,981	5,434
Accrued expenses	1,920	1,860
	9,901	7,294

Graham Norwood Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

7	Related party transactions

Transactions with directors

2025	At 1 May 2024 £	Advances to director £	Repayments by director £	At 30 April 2025 £
	-	-	-	-
Director's loan account	3,788	16,356	(10,442)	9,702
	3,788	16,356	(10,442)	9,702

2024	At 1 May 2023 £	Advances to director £	Repayments by director £	At 30 April 2024 £
Director's loan account	3,895	9,394	(9,501)	3,788
	3,895	9,394	(9,501)	3,788