Graffan No. 1 Limited

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

1	General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is: 40, Linenhall Street, Belfast, BT2 8BA.

These financial statements were authorised for issue by the Board on 23 September 2025.

2

Audit

In accordance with the provisions of section 444 of the Companies Act 2006, the directors have not delivered a copy of the audit report with these financial statements. The audit report is unqualified and there were no matters to which the auditor drew attention by way of emphasis. The auditor of the Company is Stevenson and Wilson, 22 Broadway Avenue, Ballymena, BT43 7AA. The report was signed by Mr Peter Stevenson in his capacity as Senior Statutory Auditor.

3	Accounting policies

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'.

Basis of preparation

These financial statements have been prepared using the historical cost convention modified to include the revaluation of tangible fixed assets.

Income from shares in group undertakings

Income from shares in group undertakings comprises dividends received from subsidiary companies during the year.

Investments in subsidiaries

Investments in subsidiaries are held at cost less any provision for impairment.

Audit report

The Independent Auditor's Report was unqualified. . The name of the Senior Statutory Auditor who signed the audit report on 23 September 2025 was Mr Peter Stevenson, who signed for and on behalf of Stevenson and Wilson.

Cash and cash equivalents

Cash and cash equivalents comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less.

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in other operating expenses.

Graffan No. 1 Limited

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

Tax

The tax expense for the year 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.

4	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3). None of the directors receive any remuneration.

5	Investments

	2024 £	2023 £
Cost at 1st January 2024 and 31st December 2024	100	100