IRIS Accounts Production v23.3.0.418 06186613 director 1.9.22 31.8.23 31.8.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh061866132022-08-31061866132023-08-31061866132022-09-012023-08-31061866132021-08-31061866132021-09-012022-08-31061866132022-08-3106186613ns10:Originalns15:EnglandWales2022-09-012023-08-3106186613ns14:PoundSterlingns10:Original2022-09-012023-08-3106186613ns10:Originalns10:Director12022-09-012023-08-3106186613ns10:Original2022-09-012023-08-3106186613ns10:Original2023-08-3106186613ns10:Originalns10:PrivateLimitedCompanyLtd2022-09-012023-08-3106186613ns10:Originalns10:SmallEntities2022-09-012023-08-3106186613ns10:Originalns10:AuditExempt-NoAccountantsReport2022-09-012023-08-3106186613ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-09-012023-08-3106186613ns10:SmallCompaniesRegimeForAccountsns10:Original2022-09-012023-08-3106186613ns10:Originalns10:FullAccounts2022-09-012023-08-3106186613ns10:Original12022-09-012023-08-3106186613ns10:Originalns10:RegisteredOffice2022-09-012023-08-3106186613ns10:Original2022-08-3106186613ns10:Originalns5:CurrentFinancialInstruments2023-08-3106186613ns10:Originalns5:CurrentFinancialInstruments2022-08-3106186613ns10:Originalns5:Non-currentFinancialInstruments2023-08-3106186613ns10:Originalns5:Non-currentFinancialInstruments2022-08-3106186613ns5:ShareCapitalns10:Original2023-08-3106186613ns5:ShareCapitalns10:Original2022-08-3106186613ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-08-3106186613ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-08-3106186613ns10:Originalns5:NetGoodwill2022-09-012023-08-3106186613ns5:IntangibleAssetsOtherThanGoodwillns10:Original2022-09-012023-08-3106186613ns10:Originalns5:PlantMachinery2022-09-012023-08-3106186613ns10:Original2021-09-012022-08-3106186613ns10:Originalns5:NetGoodwill2022-08-3106186613ns10:Originalns5:NetGoodwill2023-08-3106186613ns10:Originalns5:NetGoodwill2022-08-3106186613ns10:Originalns5:PlantMachinery2022-08-3106186613ns10:Originalns5:PlantMachinery2023-08-3106186613ns10:Originalns5:PlantMachinery2022-08-3106186613ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-08-3106186613ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-08-3106186613ns10:Originalns5:DeferredTaxation2022-08-3106186613ns10:Originalns5:DeferredTaxation2023-08-31
REGISTERED NUMBER: 06186613 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

FOR

CRAFTWORK CARPETS LIMITED

CRAFTWORK CARPETS LIMITED (REGISTERED NUMBER: 06186613)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CRAFTWORK CARPETS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2023







DIRECTOR: K D Martin





REGISTERED OFFICE: 1 Harbour House
Harbour Way
Shoreham by Sea
West Sussex
BN43 5HZ





REGISTERED NUMBER: 06186613 (England and Wales)





ACCOUNTANTS: Peter Jarman LLP
trading as
Peter Jarman & Company
1 Harbour House
Harbour Way
Shoreham by Sea
West Sussex
BN43 5HZ

CRAFTWORK CARPETS LIMITED (REGISTERED NUMBER: 06186613)

BALANCE SHEET
31 AUGUST 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 33,000 41,250
Tangible assets 5 6,778 7,807
39,778 49,057

CURRENT ASSETS
Stocks 5,000 5,000
Debtors 6 488,460 530,555
Cash at bank 350,954 109,135
844,414 644,690
CREDITORS
Amounts falling due within one year 7 (186,382 ) (198,058 )
NET CURRENT ASSETS 658,032 446,632
TOTAL ASSETS LESS CURRENT
LIABILITIES

697,810

495,689

CREDITORS
Amounts falling due after more than one
year

8

(17,500

)

(28,750

)

PROVISIONS FOR LIABILITIES 9 (1,695 ) (1,483 )
NET ASSETS 678,615 465,456

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 678,515 465,356
SHAREHOLDERS' FUNDS 678,615 465,456

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

CRAFTWORK CARPETS LIMITED (REGISTERED NUMBER: 06186613)

BALANCE SHEET - continued
31 AUGUST 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 14 November 2023 and were signed by:





K D Martin - Director


CRAFTWORK CARPETS LIMITED (REGISTERED NUMBER: 06186613)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1. STATUTORY INFORMATION

Craftwork Carpets 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. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. 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 2008, is being amortised evenly over its estimated useful life of twenty years.

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.

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 the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 25% on reducing balance

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.


CRAFTWORK CARPETS LIMITED (REGISTERED NUMBER: 06186613)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023

2. 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.

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 profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2022
and 31 August 2023 165,000
AMORTISATION
At 1 September 2022 123,750
Charge for year 8,250
At 31 August 2023 132,000
NET BOOK VALUE
At 31 August 2023 33,000
At 31 August 2022 41,250

CRAFTWORK CARPETS LIMITED (REGISTERED NUMBER: 06186613)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2022 76,519
Additions 1,232
At 31 August 2023 77,751
DEPRECIATION
At 1 September 2022 68,712
Charge for year 2,261
At 31 August 2023 70,973
NET BOOK VALUE
At 31 August 2023 6,778
At 31 August 2022 7,807

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 319,599 426,918
Other debtors 168,861 103,637
488,460 530,555

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 13,006
Hire purchase contracts 1,250 2,999
Trade creditors 2,752 79,641
Taxation and social security 165,733 88,156
Other creditors 6,647 14,256
186,382 198,058

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 17,500 27,500
Hire purchase contracts - 1,250
17,500 28,750

CRAFTWORK CARPETS LIMITED (REGISTERED NUMBER: 06186613)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 1,695 1,483

Deferred
tax
£   
Balance at 1 September 2022 1,483
Capital Allowances in advance 212
of depreciation
Balance at 31 August 2023 1,695

10. RELATED PARTY DISCLOSURES

Rent of £18,000 was paid to Mr K. Martin, a director and shareholder of Craftwork Carpets Limited