Graham Walton Publishing Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

1. General Information

Graham Walton Publishing Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09572872 . The registered office is Unit G9, Frome Business Park , Manor Road, Marston Trading Estate, Frome, Somerset, BA11 4FN.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

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

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the profit and loss account over its estimated economic life of 5 years.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	7% Reducing balance
Motor Vehicles	20% Straight line

2.5. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

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Graham Walton Publishing Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

2.6. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 12 (2025: 13)

4. Intangible Assets

	Other
	£
Cost
As at 1 April 2025	20,900

As at 31 March 2026	20,900

Amortisation
As at 1 April 2025	20,900

As at 31 March 2026	20,900

Net Book Value
As at 31 March 2026	-

As at 1 April 2025	-

5. Tangible Assets

	Plant & Machinery	Motor Vehicles	Total
	£	£	£
Cost
As at 1 April 2025	94,533	67,418	161,951
Additions	10,650	11,995	22,645
Disposals	(6,800 )	(18,678 )	(25,478 )

As at 31 March 2026	98,383	60,735	159,118

Depreciation
As at 1 April 2025	21,071	22,990	44,061
Provided during the period	5,672	3,036	8,708
Disposals	(3,850 )	(16,160 )	(20,010 )

As at 31 March 2026	22,893	9,866	32,759

Net Book Value
As at 31 March 2026	75,490	50,869	126,359

As at 1 April 2025	73,462	44,428	117,890

6. Debtors

	2026	2025
	£	£
Due within one year
Trade debtors	25,557	26,377

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Graham Walton Publishing Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

7. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Trade creditors	8,837	360
Bank loans and overdrafts	500	3,000
Other creditors	125,570	128,929
Taxation and social security	23,859	24,590

	158,766	156,879

Included within Bank loans and overdrafts is £500 (2025 - £3,000) which is secured by the UK government under the Covid-19 Bounceback Loan Scheme.

8. Creditors: Amounts Falling Due After More Than One Year

	2026	2025
	£	£
Bank loans	-	500

Included within Bank loans and overdrafts is £nil (2025 - £500) which is secured by the UK government under the Covid-19 Bounceback Loan Scheme.

9. Share Capital

	2026	2025
	£	£
Allotted, Called up and fully paid	100	100

10. Transition to FRS 102

During the year ended 31 March 2026, the company transitioned from preparing its financial statements under FRS 105 The Financial Reporting Standard applicable to the Micro-entities Regime to FRS 102 Section 1A Small Entities.

The transition has been accounted for in accordance with the first-time adoption provisions of FRS 102. As part of the transition process, the company assessed the recognition and measurement requirements of FRS 102 and identified that a provision for deferred taxation was required in respect of timing differences existing at the date of transition.

As deferred tax is not recognised under FRS 105, no deferred tax provision was previously recorded. The recognition of deferred tax on transition resulted in a reduction in opening reserves at 1 April 2024 of £17,268, with a corresponding deferred tax liability recognised within creditors.

Retained earnings under FRS 105 at 1 April 2024 £47,623, less recognition of deferred tax liability on transition of £17,268, resulting in restated retained earnings under FRS 102 at 1 April 2024 £30,355

In addition, the comparative profit for the year ended 31 March 2025 has been restated to reflect the deferred tax charge required under FRS 102. As a result, profit after tax for the year ended 31 March 2025 decreased by £625, representing the deferred tax expense arising on timing differences. The corresponding deferred tax liability has been included within liabilites at 31 March 2025.

	31 March 2025	1 April 2024
	£	£
Profit and loss reserves previously stated under FRS105	28,513	£47,623
Provision for deferred taxation	(17,920)	(17,268)

Restated Profit and loss reserves under FRS102	10,593	30,355

The adoption of FRS 102 had no material impact on the company's profit for the year ended 31 December 2025 other than the recognition of deferred tax movements required under FRS 102.

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		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	5		126,359		117,890

			126,359		117,890
CURRENT ASSETS
Debtors	6	25,557		26,377
Cash at bank and in hand		33,580		41,725

		59,137		68,102
Creditors: Amounts Falling Due Within One Year	7	(158,766 )		(156,879 )

NET CURRENT ASSETS (LIABILITIES)			(99,629 )		(88,777 )

TOTAL ASSETS LESS CURRENT LIABILITIES			26,730		29,113

Creditors: Amounts Falling Due After More Than One Year	8		-		(500 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(19,207 )		(17,920 )

NET ASSETS			7,523		10,693

CAPITAL AND RESERVES
Called up share capital	9		100		100
Profit and Loss Account			7,423		10,593

SHAREHOLDERS' FUNDS			7,523		10,693