Registered number
SC613371
The Crafty Crow Ltd
Report and Accounts
31 December 2022
M A R K C O Y L E
ACCOUNTANCY SERVICES
Mark Coyle is licensed and regulated by AAT
under licence number 1001280.
The Crafty Crow Ltd
Report and accounts
Contents
Page
Company information 1
Directors' report 1
Accountants' report 2
Profit and loss account 2
Statement of comprehensive income 3
Balance sheet 3
Statement of changes in equity 4
Notes to the accounts 5
The Crafty Crow Ltd
Company Information
Directors
Kerry Orr
Accountants
Mark Coyle Accountancy Services
Burnbrae Mill
Milton
Dumfries
DG2 8QR
Registered office
Rutherford Hall
High Street
Gatehouse of Fleet
Castle Douglas
DG7 2HS
Registered number
SC613371
The Crafty Crow Ltd
Registered number: SC613371
Directors' Report
The directors present their report and accounts for the year ended 31 December 2022.
Principal activities
The company's principal activity during the year continued to be café and craft shop
Directors
The following persons served as directors during the year:
Kerry Orr
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 20 October 2023 and signed on its behalf.
Kerry Orr
Director
The Crafty Crow Ltd
Accountants' Report
Accountants' report to the directors of
The Crafty Crow Ltd
You consider that the company is exempt from an audit for the year ended 31 December 2022. You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, I have prepared the accounts which comprise the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to me.
I have not carried out an audit or any other review, and consequently I do not express any opinion on these accounts.
Mark Coyle Accountancy Services
Accountants
Burnbrae Mill
Milton
Dumfries
DG2 8QR
20 October 2023
The Crafty Crow Ltd
Profit and Loss Account
for the year ended 31 December 2022
2022 2021
£ £
Turnover 63,728 86,423
Cost of sales (21,822) (27,426)
Gross profit 41,906 58,997
Administrative expenses (64,544) (86,440)
Other operating income 5,900 40,477
Operating (loss)/profit (16,738) 13,034
Interest receivable 48 -
Interest payable (201) (123)
(Loss)/profit before taxation (16,891) 12,911
Tax on (loss)/profit 3,209 (2,453)
(Loss)/profit for the financial year (13,682) 10,458
The Crafty Crow Ltd
Statement of comprehensive income
for the year ended 31 December 2022
2022 2021
£ £
(Loss)/profit for the financial year (13,682) 10,458
Other comprehensive income
Total comprehensive income for the year (13,682) 10,458
The Crafty Crow Ltd
Registered number: SC613371
Balance Sheet
as at 31 December 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 3 8,600 9,484
Current assets
Stocks 11,582 15,134
Debtors 4 10,569 7,565
Cash at bank and in hand 3,333 13,101
25,484 35,800
Creditors: amounts falling due within one year 5 (72,305) (67,823)
Net current liabilities (46,821) (32,023)
Total assets less current liabilities (38,221) (22,539)
Creditors: amounts falling due after more than one year 6 (6,833) (8,833)
Net liabilities (45,054) (31,372)
Capital and reserves
Called up share capital 2 2
Profit and loss account (45,056) (31,374)
Shareholders' funds (45,054) (31,372)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Kerry Orr
Director
Approved by the board on 20 October 2023
The Crafty Crow Ltd
Statement of Changes in Equity
for the year ended 31 December 2022
Share Share Re- Profit Total
capital premium valuation and loss
reserve account
£ £ £ £ £
At 1 January 2021 2 - - (41,832) (41,830)
Profit for the financial year 10,458 10,458
At 31 December 2021 2 - - (31,374) (31,372)
At 1 January 2022 2 - - (31,374) (31,372)
Loss for the financial year (13,682) (13,682)
At 31 December 2022 2 - - (45,056) (45,054)
The Crafty Crow Ltd
Notes to the Accounts
for the year ended 31 December 2022
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 8 9
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2022 15,908
Additions 1,004
At 31 December 2022 16,912
Depreciation
At 1 January 2022 6,424
Charge for the year 1,888
At 31 December 2022 8,312
Net book value
At 31 December 2022 8,600
At 31 December 2021 9,484
4 Debtors 2022 2021
£ £
Deferred tax asset 10,569 7,359
Other debtors - 206
10,569 7,565
5 Creditors: amounts falling due within one year 2022 2021
£ £
Trade creditors 3,065 2,250
Taxation and social security costs 4,273 1,726
Other creditors 64,967 63,847
72,305 67,823
6 Creditors: amounts falling due after one year 2022 2021
£ £
Bank loans 6,833 8,833
7 Other information
The Crafty Crow Ltd is a private company limited by shares and incorporated in Scotland. Its registered office is:
Rutherford Hall
High Street
Gatehouse of Fleet
Castle Douglas
DG7 2HS
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