Company No: 04039370 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	94,213		117,929
		94,213		117,929
Current assets
Stocks	4	64,787		114,687
Debtors	5	72,006		117,957
Cash at bank and in hand		56,948		3,056
		193,741		235,700
Creditors: amounts falling due within one year	6	( 296,999)		( 281,969)
Net current liabilities		(103,258)		(46,269)
Total assets less current liabilities		(9,045)		71,660
Creditors: amounts falling due after more than one year	7	( 39,428)		( 44,251)
Provision for liabilities	8	( 21,587)		0
Net (liabilities)/assets		( 70,060)		27,409
Capital and reserves
Called-up share capital		50		50
Profit and loss account		( 70,110 )		27,359
Total shareholders' (deficit)/funds		( 70,060)		27,409

For the financial year ending 31 August 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 financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Bluebird Graphics Limited (registered number: 04039370) were approved and authorised for issue by the Board of Directors on 29 May 2026. They were signed on its behalf by:

J T N Whittington Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Bluebird Graphics Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 8c Weycroft Avenue, Millwey Rise Industrial Estate, Axminster, EX13 5HU, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £70,060. The Company is supported through loans from the directors. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, 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.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements	50 years straight line
Plant and machinery	20 % reducing balance
Vehicles	20 % reducing balance
Fixtures and fittings	5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

The depreciation rate for plant and machinery and vehicles was changed from 5 year straight line to 20% reducing balance in 2024 to better represent the asset's useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. 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.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	6		12

3. Tangible assets

	Leasehold improve- ments		Plant and machinery		Vehicles		Fixtures and fittings		Total
	£		£		£		£		£
Cost
At 01 September 2024	8,800		390,266		96,434		20,832		516,332
Additions	0		1,029		0		1,995		3,024
Disposals	0		0		( 24,353)		0		( 24,353)
At 31 August 2025	8,800		391,295		72,081		22,827		495,003
Accumulated depreciation
At 01 September 2024	7,329		297,456		73,040		20,578		398,403
Charge for the financial year	176		18,734		4,054		653		23,617
Disposals	0		0		( 21,230)		0		( 21,230)
At 31 August 2025	7,505		316,190		55,864		21,231		400,790
Net book value
At 31 August 2025	1,295		75,105		16,217		1,596		94,213
At 31 August 2024	1,471		92,810		23,394		254		117,929

4. Stocks

	2025		2024
	£		£
Stocks	22,564		22,564
Work in progress	42,223		92,123
	64,787		114,687

5. Debtors

	2025		2024
	£		£
Trade debtors	54,131		86,328
Amounts owed by directors	0		4,200
Prepayments	17,303		16,134
Other debtors	572		11,295
	72,006		117,957

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans (secured £ 8,661)	26,994		8,940
Trade creditors	123,434		170,068
Amounts owed to connected persons	2,083		2,083
Amounts owed to directors	31,487		21,487
Other loans	2,461		13,721
Accruals and deferred income	48,757		8,838
Corporation tax	7,053		13,931
Other taxation and social security	48,567		40,299
Obligations under finance leases and hire purchase contracts (secured)	3,323		2,602
Other creditors	2,840		0
	296,999		281,969

Amounts owed to directors and connected persons are repayable on demand and do not bear interest.

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

	2025		2024
	£		£
Bank loans (secured)	35,420		36,538
Obligations under finance leases and hire purchase contracts (secured)	4,008		7,713
	39,428		44,251

Obligations under finance leases and hire purchase contracts are secured on the asset financed. This asset is included within vehicles and has a net book value of £9,350 (2024 - £14,025).

Within bank loans is a balance of £44,081 which relates to borrowings secured by a guarantee from the directors.

Also within bank loans is a balance of £18,333 which relates to an outstanding amount due from a Coronavirus Bounce Back Loan (2024 - £28,333). The UK government have guaranteed 100% of the value of the loan.

8. Provision for liabilities

	2025		2024
	£		£
Deferred tax	21,587		0

9. Financial commitments

Commitments

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

	2025		2024
	£		£
within one year	32,220		36,720
between one and five years	74,880		146,880
after five years	14,040		211,140
Total future minimum lease payments under non-cancellable operating leases	121,140		394,740

The non-cancellable operating lease payments are in relation to business premises.