Graphite Interiors Ltd - Limited company accounts 25.1

REGISTERED NUMBER: 13972631 (England and Wales)

REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

GRAPHITE INTERIORS LTD

Page

Company Information

1

Report of the Directors

2

Income Statement

3

Other Comprehensive Income

4

Balance Sheet

5

Notes to the Financial Statements

6

DIRECTORS:

T Carey

M W Jones

REGISTERED OFFICE:

Peony House

22 Bramling Gardens

Sissinghurst

Cranbrook

Kent

TN17 2DY

REGISTERED NUMBER:

13972631 (England and Wales)

ACCOUNTANTS:

Keys Accountancy Limited

2 Reed Place

Ware

Hertfordshire

SG12 9LW

The directors present their report with the financial statements of the company for the year ended 31 March 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of an interior design consultancy.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 April 2024 to the date of this report.

T Carey

M W Jones

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

M W Jones - Director

14 December 2025

TURNOVER

3,940,196

2,470,502

Cost of sales

3,681,126

2,187,540

GROSS PROFIT

259,070

282,962

Administrative expenses

182,521

78,881

OPERATING PROFIT and

PROFIT BEFORE TAXATION

76,549

204,081

Tax on profit

25,804

50,183

PROFIT FOR THE FINANCIAL YEAR

50,745

153,898

PROFIT FOR THE YEAR

50,745

153,898

OTHER COMPREHENSIVE INCOME

-

TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

50,745

153,898

FIXED ASSETS

Tangible assets

5

2,262

2,425

CURRENT ASSETS

Debtors

6

484,568

241,232

Cash at bank

25,363

139,209

509,931

380,441

CREDITORS

Amounts falling due within one year

7

465,954

217,372

NET CURRENT ASSETS

43,977

163,069

TOTAL ASSETS LESS CURRENT
LIABILITIES

46,239

165,494

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

46,139

165,394

46,239

165,494

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

The financial statements were approved by the Board of Directors and authorised for issue on 14 December 2025 and were signed on its behalf by:

M W Jones - Director

1.	STATUTORY INFORMATION

Graphite Interiors Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

In previous years the company prepared financial statements in accordance with Financial Reporting Standard 105 'The Financial Reporting Standard applicable to the Micro-entities Regime'. The company is no longer eligible to use the Micro-entities Regime and on 1 April 2023 transitioned to Financial Reporting Standard 102. There are no adjustments for this transition.

Going concern

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

The directors have assessed various factors and risks affecting the company and its ability in these difficult economic times to continue to trade as a going concern. The directors have not identified any material uncertainties or risks related to events or conditions that could affect the carrying value of the company's assets and liabilities as at the balance sheet date and therefore the financial statements for the year ended 31 March 2025.

Significant judgements and estimates

In applying the Company's accounting policies, the directors are required to make judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The director's judgements, estimated and assumptions are based on the best and most reliable evidence available at the time when the decisions are made, and are based on historical experience and other factors that are considered to be applicable. Due to the inherent subjectivity involved in making such judgements, estimates and assumptions, the actual results and outcomes may differ.

Critical judgements in applying the company’s accounting policies

The critical judgement that the directors have made in the process of applying the Company's accounting policies that have the most significant effect on the amounts recognised in the statutory financial statements are discussed below:

(i) Assessing indicators and impairment

In assessing whether there have been any indicators or impairment of assets, the directors have considered both external and internal sources of information such as market conditions, counterparty credit ratings and experience or recoverability. There have been no indicators or impairments identified during the current financial year.

Key sources of estimation uncertainty

The key assumptions concerning the future, and other key sources of estimation uncertainty that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.

(ii) Revenue recognition in respect of services

The Company uses the percentage of completion method to recognise project revenue for fixed-priced contracts. This method requires the directors to estimate the level of services performed at each reporting date as a proportion of the total services to be performed to complete the contract. Variations to estimates could result in the over or under recognition of revenue.

(iii) Recoverability of receivables

The Company establishes a provision for receivables that are estimated not to be recoverable. When assessing recoverability, the directors consider factors such as the ageing of the receivables, past experience and recoverability, and the credit profile of individual or groups of customers.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

50% on cost

Computer equipment

-

50% on cost

Financial instruments

Financial assets and liabilities are recognised when the Company becomes party to the contractual provisions of the financial instrument. The Company holds financial instruments which comprise cash and cash equivalents, trade and other receivables, equity investments, trade and other payables, loans and borrowings. The Company has chosen to apply the provisions of Section 11 Basic Financial Instruments.

Financial assets / liabilities - classified as basic financial instruments

(i) Cash and cash equivalents

This includes cash in hand, deposits held with banks, and other short-term highly liquid investments with original maturities of three months or less.

(ii) Trade and other receivables

Trade and other receivables are initially recognised at the transaction price, including any transaction costs, and subsequently measured at amortised cost including the effective interest method, less any provision for impairment. Amounts that are receivable within one year are measured at the undiscounted amount of the cash expected to be received, net of any impairment.

At the end of each reporting period, the Company assesses whether there is objective evidence that a receivable amount may be impaired. A provision for impairment 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. The amount of the provision is the difference between the asset's carrying amount and the present value of the estimated future cash flows, discounted at the effective interest rate. The amount of the provision is recognised immediately in profit or loss.

(iii) Equity investments

Equity investments comprise ordinary share capital. Any other equity investments held are initially recognised at fair value, which is the transaction price excluding transaction costs and are subsequently measured at fair value through profit or loss.

(iv) Trade and other payables and loans and borrowings

Trade and other payables and loans and borrowings are initially measured at the transaction price, including any transaction price, including any transaction costs, and subsequently measured at amortised cost using the effective interest method.

Equity

Equity instruments are classified in accordance with the substance of contractual agreement. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Equity instruments issued by the Company are recorded at the fair value of the cash or other resources received or receivable net of direct costs of issuing the equity instruments.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 1 ) .

4.	OPERATING PROFIT

The operating profit is stated after charging:

31.3.25

31.3.24

£

Depreciation - owned assets

2,715

453

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

COST

At 1 April 2024

815

2,063

2,878

Additions

-

2,552

At 31 March 2025

815

4,615

5,430

DEPRECIATION

At 1 April 2024

306

147

453

Charge for year

407

2,308

2,715

At 31 March 2025

713

2,455

3,168

NET BOOK VALUE

At 31 March 2025

102

2,160

2,262

At 31 March 2024

509

1,916

2,425

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Trade debtors

447,880

229,627

Other debtors

10,000

4,312

VAT

26,688

7,293

484,568

241,232

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Trade creditors

371,021

131,051

Tax

61,604

50,979

Social security and other taxes

22,863

5,479

Other creditors

9,466

-

Accrued expenses

1,000

29,863

465,954

217,372

8.	RELATED PARTY DISCLOSURES

Included within other debtors is an due amount of £10,000 from Graphite Mechanical Limited, a company in which the director and ultimate controlling party is a director.

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is M W Jones.