REGISTERED NUMBER: 01390915 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

FOR

GRAHAMS HI - FI LIMITED

Page

Company Information

1

Accountants' Report

2

Statement of Financial Position

3

Notes to the Financial Statements

5

DIRECTORS:

Mr D R Graham

Mr P S Janove

Ms S R Hollamby

Mr W J Hammond - Clay

Mr D Hancock

SECRETARY:

Ms S R Hollamby

REGISTERED OFFICE:

106-108 Lancaster Road

Barnet

London

EN4 8AL

REGISTERED NUMBER:

01390915 (England and Wales)

ACCOUNTANTS:

mgr Weston Kay LLP

Chartered Accountants

55 Loudoun Road

St John's Wood

London

NW8 0DL

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Grahams Hi - Fi Limited for the year ended 30 June 2025 which comprise the Income Statement, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Grahams Hi - Fi Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Grahams Hi - Fi Limited and state those matters that we have agreed to state to the Board of Directors of Grahams Hi - Fi Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Grahams Hi - Fi Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Grahams Hi - Fi Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Grahams Hi - Fi Limited. You consider that Grahams Hi - Fi Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Grahams Hi - Fi Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

mgr Weston Kay LLP

Chartered Accountants

55 Loudoun Road

St John's Wood

London

NW8 0DL

29 July 2026

FIXED ASSETS

Tangible assets

4

108,014

16,786

Investments

5

4,747

4,747

112,761

21,533

CURRENT ASSETS

Stocks

6

312,552

490,494

Debtors

7

245,844

276,872

Cash at bank and in hand

75,729

184,081

634,125

951,447

CREDITORS

Amounts falling due within one year

8

(614,577

)

(419,050

)

NET CURRENT ASSETS

19,548

532,397

TOTAL ASSETS LESS CURRENT LIABILITIES

132,309

553,930

CREDITORS

Amounts falling due after more than one year

9

(2,500

)

(12,500

)

NET ASSETS

129,809

541,430

CAPITAL AND RESERVES

Called up share capital

11

2,100

2,100

Capital redemption reserve

16

16

Retained earnings

127,693

539,314

SHAREHOLDERS' FUNDS

129,809

541,430

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 July 2026 and were signed on its behalf by:

Mr D R Graham - Director

1.	STATUTORY INFORMATION

Grahams Hi - Fi Limited 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.

Turnover

Turnover represents the amounts receivable in respect of goods and services provided to customers during the year, excluding value added tax.

Tangible fixed assets

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

Short leasehold

-

Straight line over 10 years

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

20% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

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.

Interest payable

Interest payable is charged to the profit and loss account on an accruals basis.

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short term liquid investments with original maturities of three months or less.

Financial Instruments

The company has elected to apply the provisions of Section 11 ' Basic Financial Instruments' and ' Section 12 ' Other Financial Instruments Issues' of FRS 102 to all its financial instruments.

Financial instruments are recognised in the company's Statement of Financial Position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset , with the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously

Basic financial assets

Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction and where material are subsequently measured at amortised cost using the effective interest method, less any impairment.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and where material the changes in fair value are recognised in the Statement of Total Comprehensive Income, except that investments in equity instruments that are not publicly traded and whose fair value cannot be measured reliably are measured at cost less impairment

Interest is recognised by applying the effective interest rate, except for short-term receivables when the recognition of interest would be immaterial. The effective interest method is a method of calculating the amortised cost of a debt instrument and of allocating the interest income over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash receipts through the life of the debt instrument to the net carrying amount on initial recognition.

Impairment of financial assets

Financial assets, other than those held at fair value are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. The impairment loss is recognised in the Statement of Total Comprehensive Income

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity

Basic financial liabilities

Basic financial liabilities, including trade and other payables and loans from company undertakings that are classified as debt are initially measured at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at the market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired that have been acquired in the ordinary course of business from suppliers. Accounts payables are classified as current liabilities if a payment is due within one year or less. If not, they are present as non current liabilities. Short term creditors are initially recognised at transaction price and where material are subsequently measured at amortised cost using the effective interest method

Derecognition of financial liabilities

Financial liabilities are derecognised when, and only when, the company's obligations are discharged, cancelled, or they expire.

Leases

Rentals payable and receivable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2024 - 19 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Short

to

Plant and

leasehold

property

machinery

£

£

£

COST

At 1 July 2024

329,090

-

41,917

Additions

7,181

59,896

24,394

Disposals

(329,090

)

-

-

At 30 June 2025

7,181

59,896

66,311

DEPRECIATION

At 1 July 2024

329,090

-

40,363

Charge for year

718

11,979

5,189

Eliminated on disposal

(329,090

)

-

-

At 30 June 2025

718

11,979

45,552

NET BOOK VALUE

At 30 June 2025

6,463

47,917

20,759

At 30 June 2024

-

-

1,554

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 July 2024

191,291

4,579

154,274

721,151

Additions

25,769

-

133

117,373

Disposals

-

-

-

(329,090

)

At 30 June 2025

217,060

4,579

154,407

509,434

DEPRECIATION

At 1 July 2024

188,074

4,436

142,402

704,365

Charge for year

5,796

36

2,427

26,145

Eliminated on disposal

-

-

-

(329,090

)

At 30 June 2025

193,870

4,472

144,829

401,420

NET BOOK VALUE

At 30 June 2025

23,190

107

9,578

108,014

At 30 June 2024

3,217

143

11,872

16,786

5.	FIXED ASSET INVESTMENTS

Unlisted

investments

£

COST

At 1 July 2024

and 30 June 2025

4,747

NET BOOK VALUE

At 30 June 2025

4,747

At 30 June 2024

4,747

6.

STOCKS

30.6.25

30.6.24

£

£

Finished goods

111,007

249,528

Demonstration stock

201,545

240,966

312,552

490,494

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.25

30.6.24

£

£

Trade debtors

234,375

237,690

Other debtors

11,469

39,182

245,844

276,872

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.25

30.6.24

£

£

Bank loans and overdrafts (see note 10)

10,000

10,000

Trade creditors

252,180

327,037

Taxation and social security

90,325

70,775

Other creditors

262,072

11,238

614,577

419,050

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.25

30.6.24

£

£

Bank loans (see note 10)

2,500

12,500

10.

LOANS

An analysis of the maturity of loans is given below:

30.6.25

30.6.24

£

£

Amounts falling due within one year or on demand:

Bank loans

10,000

10,000

Amounts falling due between one and two years:

Bank loans - 1-2 years

2,500

10,000

Amounts falling due between two and five years:

Bank loans - 2-5 years

-

2,500

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.25

30.6.24

value:

£

£

2,100

Ordinary

£1

2,100

2,100

12.	RELATED PARTY DISCLOSURES

During the year, the directors made total drawings of £4,031 from the company.

During the year, the directors introduced £247,565 into the company.