Company registration number 1631429 (England and Wales)
CONFERENCE CRAFT LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
PAGES FOR FILING WITH REGISTRAR
CONFERENCE CRAFT LIMITED
CONTENTS
Page
Directors' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
CONFERENCE CRAFT LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 JUNE 2023
- 1 -
The directors present their annual report and financial statements for the year ended 30 June 2023.
Principal activities
The principal activity of the company continued to be that of providing goods and services for conferences ,exhibitions for training purposes.
Directors
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
N C Deacon
M P Flatman
Small companies exemption
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
On behalf of the board
N C Deacon
Director
15 November 2023
CONFERENCE CRAFT LIMITED
BALANCE SHEET
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
86,403
69,318
Current assets
Debtors
4
53,594
117,751
Cash at bank and in hand
148,195
7,437
201,789
125,188
Creditors: amounts falling due within one year
5
(149,525)
(207,854)
Net current assets/(liabilities)
52,264
(82,666)
Total assets less current liabilities
138,667
(13,348)
Creditors: amounts falling due after more than one year
6
(256)
(31,481)
Net assets/(liabilities)
138,411
(44,829)
Capital and reserves
Called up share capital
17,500
17,500
Share premium account
13,600
13,600
Capital redemption reserve
2,500
2,500
Profit and loss reserves
104,811
(78,429)
Total equity
138,411
(44,829)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
CONFERENCE CRAFT LIMITED
BALANCE SHEET (CONTINUED)
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 15 November 2023 and are signed on its behalf by:
N C Deacon
Director
Company Registration No. 1631429
CONFERENCE CRAFT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
- 4 -
1
Accounting policies
Company information
Conference Craft Limited is a private company limited by shares incorporated in England and Wales. The registered office is 308 Ewell Road, Surbiton, Surrey, KT6 7AL.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Leasehold land and buildings
5% on cost for impoovements
Plant and equipment
3-8 years straight Line
Fixtures and fittings
4-5 year straight line
Motor vehicles
5 years straight line
Freehold land and assets in the course of construction are not depreciated.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
CONFERENCE CRAFT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 5 -
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
1.5
Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.Those held under hire purchase contracts are depreciated over their estimated useful lives.Those held under finance leases are depreciated over their estimated useful lives or the lease term,whichever is the shorter.The interest element of these obligations is charged to profit or loss over the relevent period.The capital element of the future payments is treated as a liability.
1.6
Pension costs and other post-retirement benefits
The company operates defined contribution persion scheme for its staff.Contributions to the schemes are charged to the profit and loss account in the year in which they become payable in accordance with the rules of the schemes.
1.7
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
1.8
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
CONFERENCE CRAFT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 6 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
9
9
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 July 2022
5,190
542,972
548,162
Additions
48,013
48,013
At 30 June 2023
5,190
590,985
596,175
Depreciation and impairment
At 1 July 2022
5,190
473,654
478,844
Depreciation charged in the year
30,928
30,928
At 30 June 2023
5,190
504,582
509,772
Carrying amount
At 30 June 2023
86,403
86,403
At 30 June 2022
69,318
69,318
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
29,863
90,091
Other debtors
23,731
27,660
53,594
117,751
CONFERENCE CRAFT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 7 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
46,244
70,818
Corporation tax
36,173
11,350
Other taxation and social security
20,494
30,595
Other creditors
46,614
95,091
149,525
207,854
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
256
31,481
7
Directors' transactions
Dividends totalling £20,000 (2022 - £0) were paid in the year in respect of shares held by the company's directors.
Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
N C Deacon -
-
(24,590)
53,896
(27,514)
1,792
(24,590)
53,896
(27,514)
1,792