Graffic Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 04972320

Graffic Limited

Filleted Unaudited Financial Statements

31 March 2025

Graffic Limited

Officers and Professional Advisers

The board of directors	S Lacey
	R Lacey
	T May

Registered office	3a The Wenta Business Centre
	Colne Way
	Watford
	Herts
	WD24 7ND

Accountants	Warners
	Chartered Accountants
	3a The Wenta Business Centre
	Colne Way
	Watford
	WD24 7ND

Graffic Limited

Balance Sheet

31 March 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	5		86,435	112,363

Current assets

Debtors	6	1,006,040	1,814,675
Cash at bank and in hand		501,066	183,489
		------------	------------
		1,507,106	1,998,164

Creditors: amounts falling due within one year	7	938,556		1,471,316
		------------		------------
Net current assets			568,550	526,848
			---------	---------
Total assets less current liabilities			654,985	639,211

Creditors: amounts falling due after more than one year	8		9,166	19,167

Provisions

Taxation including deferred tax	13,017	5,840
	---------	---------
Net assets	632,802	614,204
	---------	---------

Capital and reserves

Called up share capital	75	75
Profit and loss account	632,727	614,129
	---------	---------
Shareholders funds	632,802	614,204
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.

For the year ending 31 March 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 financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 20 December 2025 , and are signed on behalf of the board by:

S Lacey _______________

Company registration number: 04972320

Graffic Limited

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 3a The Wenta Business Centre, Colne Way, Watford, Herts, WD24 7ND.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover represents the amount earned for work carried out during the year. It is measured at the fair value of the receivables for goods supplied and services rendered, stated net of discounts and of Value Added Tax, and takes account of the stage of completion of the work.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Computers	-	30% straight line
Motor vehicles	-	25% reducing balance
Equipment	-	25% reducing balance

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 8 (2024: 8 ).

5. Tangible assets

	Computer equipment	Motor vehicles	Equipment	Total
	£	£	£	£
Cost
At 1 April 2024	7,732	77,081	634,893	719,706
Additions	3,534	–	–	3,534
Disposals	( 3,089)	( 12,571)	( 3,427)	( 19,087)
	-------	--------	---------	---------
At 31 March 2025	8,177	64,510	631,466	704,153
	-------	--------	---------	---------
Depreciation
At 1 April 2024	5,544	71,805	529,994	607,343
Charge for the year	1,554	1,320	26,230	29,104
Disposals	( 3,083)	( 12,413)	( 3,233)	( 18,729)
	-------	--------	---------	---------
At 31 March 2025	4,015	60,712	552,991	617,718
	-------	--------	---------	---------
Carrying amount
At 31 March 2025	4,162	3,798	78,475	86,435
	-------	--------	---------	---------
At 31 March 2024	2,188	5,276	104,899	112,363
	-------	--------	---------	---------

6. Debtors

	2025	2024
	£	£
Trade debtors	429,141	792,314
Prepayments and accrued income	2,944	2,457
Amounts recoverable on contracts	530,098	940,513
Other debtors	43,857	79,391
	------------	------------
	1,006,040	1,814,675
	------------	------------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	10,001	10,000
Trade creditors	449,596	887,950
Accruals and deferred income	11,804	9,578
Social security and other taxes	49,175	28,932
Director loan accounts	258,919	262,265
Other creditors	159,061	272,591
	---------	------------
	938,556	1,471,316
	---------	------------

8. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	9,166	19,167
	-------	--------

The bank loans include a loan payable by monthly instalments expiring in February 2027 and on which interest is charged at 2.5% pa.

9. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2025	2024
	£	£
Not later than 1 year	6,291	7,250
Later than 1 year and not later than 5 years	54,400	14,679
	--------	--------
	60,691	21,929
	--------	--------

10. Transactions with directors

No dividends were paid during the year nor in the previous year.