Grafx Digital Technologies Ltd. - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 02431554 (England and Wales)

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2015

FOR

GRAFX DIGITAL TECHNOLOGIES LTD.

Page

Company Information

1

Chartered Certified Accountants' Report

2

Abbreviated Balance Sheet

3

to

4

Notes to the Abbreviated Accounts

5

to

7

DIRECTORS:

A J R Briscombe

L H Briscombe

SECRETARY:

L H Briscombe

REGISTERED OFFICE:

48-50 High Street

Cheltenham

Gloucestershire

GL50 1EE

REGISTERED NUMBER:

02431554 (England and Wales)

ACCOUNTANTS:

Smith Heath Limited

Brent House

382 Gloucester Road

Cheltenham

Gloucestershire

GL51 7AY

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages three to seven)

have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Grafx Digital Technologies Ltd. for the year ended 31 March 2015 which comprise the Profit and

Loss Account, the Balance Sheet, 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://rulebook.accaglobal.com.

This report is made solely to the Board of Directors of Grafx Digital Technologies Ltd., 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 Grafx Digital Technologies Ltd. and state those matters that we have agreed to state to the Board of Directors of Grafx Digital Technologies Ltd., as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Grafx Digital Technologies Ltd. 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 profit of Grafx Digital Technologies Ltd.. You consider that Grafx Digital Technologies Ltd. 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 Grafx Digital Technologies

Ltd.. 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.

Smith Heath Limited

Brent House

382 Gloucester Road

Cheltenham

Gloucestershire

GL51 7AY

Date: 8 July 2015

FIXED ASSETS

Intangible assets

2

600

2,000

Tangible assets

3

20,331

19,786

Investments

4

2

2

20,933

21,788

CURRENT ASSETS

Stocks

19,070

46,572

Debtors

99,328

128,998

Cash at bank and in hand

17,705

192

136,103

175,762

CREDITORS

Amounts falling due within one year

111,873

152,264

NET CURRENT ASSETS

24,230

23,498

TOTAL ASSETS LESS CURRENT LIABILITIES

45,163

45,286

PROVISIONS FOR LIABILITIES

3,789

3,403

NET ASSETS

41,374

41,883

CAPITAL AND RESERVES

Called up share capital

5

20,200

20,200

Profit and loss account

21,174

21,683

SHAREHOLDERS' FUNDS

41,374

41,883

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2015 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 8 July 2015 and were signed on its behalf by:

A J R Briscombe - Director

L H Briscombe - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents the total invoice value, excluding value added tax, of sales made during the year and derives

from the provision of goods and services falling within the company's ordinary activities.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

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

Short-term leasehold Improvements

-

Straight line over the life of the lease

Fixtures, fittings and equipment

-

50% on cost

Motor vehicles

-

50% on cost

Stocks

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

moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

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 the profit and loss account in the period to which they relate.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2014

and 31 March 2015

7,000

AMORTISATION

At 1 April 2014

5,000

Amortisation for year

1,400

At 31 March 2015

6,400

NET BOOK VALUE

At 31 March 2015

600

At 31 March 2014

2,000

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2014

63,518

Additions

17,539

Disposals

(2,506

)

At 31 March 2015

78,551

DEPRECIATION

At 1 April 2014

43,732

Charge for year

15,164

Eliminated on disposal

(676

)

At 31 March 2015

58,220

NET BOOK VALUE

At 31 March 2015

20,331

At 31 March 2014

19,786

4.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 April 2014

and 31 March 2015

2

NET BOOK VALUE

At 31 March 2015

2

At 31 March 2014

2

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Grafx Internet

Nature of business: Dormant

%

Class of shares:

holding

Ordinary

100.00

31/1/15

31/1/14

£

£

Aggregate capital and reserves

(27,500

)

(27,500

)

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

20,200

Ordinary

£1

20,200

20,200