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REGISTERED NUMBER: 04653965 (England and Wales)


























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

BROUGHTON CRAFTS LIMITED

BROUGHTON CRAFTS LIMITED (REGISTERED NUMBER: 04653965)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BROUGHTON CRAFTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTORS: Mrs G Pugh
Mrs I F Crispin
Mr E C Crispin





SECRETARY: Mrs G Pugh





REGISTERED OFFICE: Fleming Court
Leigh Road
Eastleigh
Southampton
Hampshire
SO50 9PD





BUSINESS ADDRESS: High Street
Stockbridge
Hampshire
SO20 6HB





REGISTERED NUMBER: 04653965 (England and Wales)






BROUGHTON CRAFTS LIMITED (REGISTERED NUMBER: 04653965)

BALANCE SHEET
28 FEBRUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - 7,790
Tangible assets 6 790 740
790 8,530

CURRENT ASSETS
Stocks 98,252 82,073
Debtors 7 890 -
Cash at bank and in hand 142,917 126,673
242,059 208,746
CREDITORS
Amounts falling due within one year 8 74,645 69,366
NET CURRENT ASSETS 167,414 139,380
TOTAL ASSETS LESS CURRENT
LIABILITIES

168,204

147,910

PROVISIONS FOR LIABILITIES 150 141
NET ASSETS 168,054 147,769

CAPITAL AND RESERVES
Called up share capital 9 102 102
Retained earnings 167,952 147,667
SHAREHOLDERS' FUNDS 168,054 147,769

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 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.

BROUGHTON CRAFTS LIMITED (REGISTERED NUMBER: 04653965)

BALANCE SHEET - continued
28 FEBRUARY 2023


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 18 October 2023 and were signed on its behalf by:





Mrs I F Crispin - Director


BROUGHTON CRAFTS LIMITED (REGISTERED NUMBER: 04653965)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023


1. STATUTORY INFORMATION

Broughton Crafts 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance

All fixed assets are initially recorded at cost.

Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the accrual model.

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 balance sheet date.


BROUGHTON CRAFTS LIMITED (REGISTERED NUMBER: 04653965)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company contributes to a defined contribution pension scheme. Contributions payable to the pension scheme are charged to profit or loss in the period to which they relate.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the Income Statement in administrative expenses.

Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 7 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2022
and 28 February 2023 155,800
AMORTISATION
At 1 March 2022 148,010
Amortisation for year 7,790
At 28 February 2023 155,800
NET BOOK VALUE
At 28 February 2023 -
At 28 February 2022 7,790

BROUGHTON CRAFTS LIMITED (REGISTERED NUMBER: 04653965)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


6. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 March 2022 17,291
Additions 245
At 28 February 2023 17,536
DEPRECIATION
At 1 March 2022 16,551
Charge for year 195
At 28 February 2023 16,746
NET BOOK VALUE
At 28 February 2023 790
At 28 February 2022 740

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 890 -

Included in other debtors is £890 (2022: £Nil) in respect of prepayments and accrued income.

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 24,895 17,398
Taxation and social security 38,279 33,183
Other creditors 11,471 18,785
74,645 69,366

Included in other creditors is £4,400 (2022: £4,200) in respect of accruals and deferred income.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary A £1 100 100
2 Ordinary B £1 2 2
102 102

BROUGHTON CRAFTS LIMITED (REGISTERED NUMBER: 04653965)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 28 February 2023 and 28 February 2022:

2023 2022
£    £   
Mrs G Pugh
Balance outstanding at start of year - -
Amounts advanced - 4,071
Amounts repaid - (4,071 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

Mrs I F Crispin
Balance outstanding at start of year - -
Amounts advanced 1,383 6,708
Amounts repaid (1,383 ) (6,708 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

Mr E C Crispin
Balance outstanding at start of year - -
Amounts advanced - 2,000
Amounts repaid - (2,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

The loan was unsecured and interest free with repayment date unspecified.