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Registration number: 07587240

Mark Croasdale Ltd

Annual Report and Unaudited Financial Statements

for the Period from 1 May 2021 to 31 July 2022

 

Mark Croasdale Ltd

Contents

Company Information

1

Profit and Loss Account and Statement of Retained Earnings

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 8

 

Mark Croasdale Ltd

Company Information

Director

Mr Mark Croasdale

Registered office

C/O Clever Accounts Ltd
Brookfield Court
Selby Road
Leeds
West Yorkshire
LS25 1NB

Accountants

Clever Accounts Limited
Brookfield Court
Selby Road
Leeds
LS25 1NB

 

Mark Croasdale Ltd

Profit and Loss Account and Statement of Retained Earnings for the Period from 1 May 2021 to 31 July 2022

Note

2022
£

2021
£

Turnover

 

-

83,073

Administrative expenses

 

(52,738)

(4,676)

Operating (loss)/profit

 

(52,738)

78,397

(Loss)/profit before tax

(52,738)

78,397

Taxation

 

8,369

(15,011)

(Loss)/profit for the financial period

 

(44,369)

63,386

Retained earnings brought forward

 

38,715

25,329

Dividends paid

 

-

(50,000)

Retained earnings carried forward

 

(5,654)

38,715

 

Mark Croasdale Ltd

(Registration number: 07587240)
Balance Sheet as at 31 July 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

4

824

1,236

Current assets

 

Debtors

8,909

18

Cash at bank and in hand

 

59

65,986

 

8,968

66,004

Creditors: Amounts falling due within one year

(15,346)

(28,425)

Net current (liabilities)/assets

 

(6,378)

37,579

Net (liabilities)/assets

 

(5,554)

38,815

Capital and reserves

 

Called up share capital

5

100

100

Profit and loss account

(5,654)

38,715

Shareholders' (deficit)/funds

 

(5,554)

38,815

For the financial period ending 31 July 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his 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 special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

 

Mark Croasdale Ltd

(Registration number: 07587240)
Balance Sheet as at 31 July 2022

Approved and authorised by the director on 24 August 2022
 

.........................................

Mr Mark Croasdale
Director

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

 

Mark Croasdale Ltd

Notes to the Unaudited Financial Statements for the Period from 1 May 2021 to 31 July 2022

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:
C/O Clever Accounts Ltd
Brookfield Court
Selby Road
Leeds
West Yorkshire
LS25 1NB
United Kingdom

These financial statements were authorised for issue by the director on 24 August 2022.

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Mark Croasdale Ltd

Notes to the Unaudited Financial Statements for the Period from 1 May 2021 to 31 July 2022

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

33% Reducing Balance

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.

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.

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.

 

Mark Croasdale Ltd

Notes to the Unaudited Financial Statements for the Period from 1 May 2021 to 31 July 2022

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1 (2021 - 1).

 

Mark Croasdale Ltd

Notes to the Unaudited Financial Statements for the Period from 1 May 2021 to 31 July 2022

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 May 2021

5,192

5,192

At 31 July 2022

5,192

5,192

Depreciation

At 1 May 2021

3,956

3,956

Charge for the period

412

412

At 31 July 2022

4,368

4,368

Carrying amount

At 31 July 2022

824

824

At 30 April 2021

1,236

1,236

5

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100

         

6

Loans and borrowings

2022
£

2021
£

Current loans and borrowings

Bank overdrafts

4,119

4,484