Registration number: 11496960

GFX Studio Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Statement of Changes in Equity	4
Notes to the Unaudited Financial Statements	5 to 10

GFX Studio Limited

Company Information

Directors

Vladlena Agabekyan Vahram Papazyan

Registered office

Greenings Bungalow Fowlmere Road Melbourn Royston Hertfordshire SG8 6EZ

Accountants

Michaelides Warner & Co 102 Fulham Palace Road London W6 9PL

GFX Studio Limited

(Registration number: 11496960)
Balance Sheet as at 31 August 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	2,848	4,626
Current assets
Stocks	5	158,484	157,391
Debtors	6	33	178
Cash at bank and in hand		-	30
		158,517	157,599
Creditors: Amounts falling due within one year	7	(217,038)	(212,827)
Net current liabilities		(58,521)	(55,228)
Total assets less current liabilities		(55,673)	(50,602)
Creditors: Amounts falling due after more than one year	7	(22,924)	(22,210)
Net liabilities		(78,597)	(72,812)
Capital and reserves
Called up share capital	8	100	1
Retained earnings		(78,697)	(72,813)
Shareholders' deficit		(78,597)	(72,812)

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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

GFX Studio Limited

(Registration number: 11496960)
Balance Sheet as at 31 August 2025

Approved and authorised by the Board on 29 June 2026 and signed on its behalf by:
 

......................................... Vladlena Agabekyan Director

GFX Studio Limited

Statement of Changes in Equity for the Year Ended 31 August 2025

	Share capital £	Retained earnings £	Total £
At 1 September 2024	1	(72,813)	(72,812)
Loss for the year	-	(5,884)	(5,884)
New share capital subscribed	99	-	99
At 31 August 2025	100	(78,697)	(78,597)

 

	Share capital £	Retained earnings £	Total £
At 1 September 2023	1	(70,372)	(70,371)
Loss for the year	-	(2,441)	(2,441)
At 31 August 2024	1	(72,813)	(72,812)

GFX Studio Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Greenings Bungalow Fowlmere Road
Melbourn
Royston
Hertfordshire
SG8 6EZ
United Kingdom

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

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' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

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

Judgements

The directors consider that there are no key judgements that management have made in the process of applying the company’s accounting policies and that may have had a significant effect on the amounts recognised in the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

GFX Studio Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Office equipment	20% straight line method

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors 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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. 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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

GFX Studio Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Financial instruments

Classification
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like investments, trade and other receivables, cash and bank balances, trade and other creditors.

Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or cash consolidation expected to be paid or received.
 

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 1).

GFX Studio Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

4	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 September 2024	30,447	30,447
At 31 August 2025	30,447	30,447
Depreciation
At 1 September 2024	25,821	25,821
Charge for the year	1,778	1,778
At 31 August 2025	27,599	27,599
Carrying amount
At 31 August 2025	2,848	2,848
At 31 August 2024	4,626	4,626

5

Stocks

	2025 £	2024 £
Work in progress	158,484	157,391

6

Debtors

Current	2025 £	2024 £
Other debtors	33	178

GFX Studio Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	9	10,000	10,000
Trade creditors		127	55
Accruals and deferred income		1,440	1,440
Other creditors		205,471	201,332
		217,038	212,827

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	9	22,924	22,210

8	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary shares of £1 each	100	100	1	1

9	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Other borrowings	22,924	22,210

Current loans and borrowings

	2025 £	2024 £
Other borrowings	10,000	10,000

GFX Studio Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

10	Related party transactions

Included in other creditors are amounts owed to the directors of £205,471 (2024 - £201,332).