Company Registration No. 6109166 (England and Wales)
CRS DECORATIONS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
PAGES FOR FILING WITH REGISTRAR
CRS DECORATIONS LTD
COMPANY INFORMATION
Director
C R Skinner
Secretary
S A Skinner
Company number
6109166
Registered office
7 Lancaster Close
Stevenage
Herts
SG1 4RX
CRS DECORATIONS LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
CRS DECORATIONS LTD
BALANCE SHEET
AS AT
28 FEBRUARY 2023
28 February 2023
- 1 -
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
2
23,452
1,497
Current assets
Stock and work in progress
2,848
5,120
Debtors
3
445,534
529,205
Cash at bank and in hand
825,551
716,133
1,273,933
1,250,458
Creditors: amounts falling due within one year
4
(36,172)
(53,383)
Net current assets
1,237,761
1,197,075
Total assets less current liabilities
1,261,213
1,198,572
Capital and reserves
Called up share capital
5
2
2
Profit and loss reserves
1,261,211
1,198,570
Total equity
1,261,213
1,198,572

The director 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 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

Director's responsibilities:

 

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and signed by the director and authorised for issue on 23 November 2023
Director
Company Registration No. 6109166
CRS DECORATIONS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 2 -
1
Accounting policies
Company information

CRS Decorations Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 7 Lancaster Close, Stevenage, Herts, SG1 4RX.

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 £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

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.

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:

Plant and machinery
25% reducing balance
Fixtures and fittings
25% reducing balance

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.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

CRS DECORATIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 3 -
2
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 March 2022
24,415
Additions
29,772
At 28 February 2023
54,187
Depreciation and impairment
At 1 March 2022
22,918
Depreciation charged in the year
7,817
At 28 February 2023
30,735
Carrying amount
At 28 February 2023
23,452
At 28 February 2022
1,497
3
Debtors
2022
Amounts falling due within one year:
£
£
Trade debtors
445,534
529,205
4
Creditors: amounts falling due within one year
2022
£
£
Trade creditors
37
112
Corporation tax
29,237
49,096
Other taxation and social security
6,173
3,450
Other creditors
725
725
36,172
53,383
5
Called up share capital
2022
£
£
Ordinary share capital
Authorised
100 Ordinary shares of £1 each
100
100
Issued and fully paid
2 Ordinary shares of £1 each
2
2
CRS DECORATIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 4 -
6
Operating lease commitments
Lessee
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