West Park Graphic Equipment Limited


Directors	G.C. Handley
	P.R. Handley


Company Secretary	J. Handley


Registered Address	West Park Graphic Equipment Ltd Unit 5 Ashbrooke Park
	Lincoln Way
	Sherburn In Elmet, Leeds
	LS25 6QX


Registered Number	01791356 (England and Wales)

Notes to the Financial Statements
for the year ended 31 March 2025

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).

	Revenue from sale of goods
	Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

Revenue from sale of goods

Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured 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.

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.

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.

	Current taxation
	Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

Current taxation

Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income.

Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

	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.

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:

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	-	5
Plant and machinery	15	-
Fixtures and fittings	15	-
Vehicles	25	-

	Stocks and work in progress
	Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

Stocks and work in progress

Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss.

Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	6		7

3.	Tangible fixed assets

	Land & buildings	Plant & machinery	Vehicles	Fixtures & fittings	Total
	£	£	£	£	£
Cost or valuation
At 01 April 24	6,950	31,719	80,473	30,460	149,602
Disposals	-	(5,355)	(30,974)	(8,464)	(44,793)
At 31 March 25	6,950	26,364	49,499	21,996	104,809
Depreciation and impairment
At 01 April 24	4,633	24,025	47,149	25,541	101,348
Charge for year	1,544	911	7,833	614	10,902
On disposals	-	(3,737)	(28,985)	(7,648)	(40,370)
At 31 March 25	6,177	21,199	25,997	18,507	71,880
Net book value
At 31 March 25	773	5,165	23,502	3,489	32,929
At 31 March 24	2,317	7,694	33,324	4,919	48,254

4.	Stocks

	2025	2024
	£	£
Work in progress	167,000	-
Other stocks	1,341,875	272,875
Total	1,508,875	272,875

5.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	833,954	499,460
Other debtors	328,497	45,953
Total	1,162,451	545,413

6.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	1,004,301	466,638
Bank borrowings and overdrafts	683,200	340,000
Taxation and social security	71,444	64,629
Other creditors	254	234
Accrued liabilities and deferred income	176,450	142,338
Total	1,935,649	1,013,839


	Included within bank loans is £583,200 (2024 - £240,000) which is secured by way of a fixed and floating charge over the assets of the company.

7.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	133,543	238,333
Total	133,543	238,333

8.	Provisions for liabilities

	2025	2024
	£	£
Net deferred tax liability (asset)	6,900	12,000
Total	6,900	12,000

9.	Operating lease commitments
	At 31 March 2025, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £286,328 (2024 – £90,723).

10.	Related party transactions
	During the year the company entered into the following transactions with related parties: Rent paid to other related parties of £35,490 (2024 - £35,490). Amounts due from other related parties as at the balance sheet date totalled £19,000 (2024 - £19,000).

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		32,929		48,254
			32,929		48,254
Current assets
Stocks	4	1,508,875		272,875
Debtors	5	1,162,451		545,413
Cash at bank and on hand		366,315		1,389,350
		3,037,641		2,207,638
Creditors amounts falling due within one year	6	(1,935,649)		(1,013,839)
Net current assets (liabilities)			1,101,992		1,193,799
Total assets less current liabilities			1,134,921		1,242,053
Creditors amounts falling due after one year	7		(133,543)		(238,333)
Provisions for liabilities	8		(6,900)		(12,000)
Net assets			994,478		991,720
Capital and reserves
Called up share capital			160		160
Profit and loss account			994,318		991,560
Shareholders' funds			994,478		991,720