Registered number
07206678
Crusader Promotions Ltd
Abbreviated Accounts
28 February 2023
Crusader Promotions Ltd
Registered number: 07206678
Balance Sheet
as at 28 February 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 40,415 31,323
Current assets
Stocks 1,360 1,360
Debtors 4 344 1,770
Cash at bank and in hand 4,941 10,761
6,645 13,891
Creditors: amounts falling due within one year 5 (19,589) (23,331)
Net current liabilities (12,944) (9,440)
Total assets less current liabilities 27,471 21,883
Creditors: amounts falling due after more than one year 6 (10,790) (14,873)
Net assets 16,681 7,010
Capital and reserves
Called up share capital 2 2
Profit and loss account 16,679 7,008
Shareholder's funds 16,681 7,010
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 member has 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.
Mr D Groves
Director
Approved by the board on 13 July 2023
Crusader Promotions Ltd
Notes to the Accounts
for the year ended 28 February 2023
1 Accounting policies
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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment 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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 March 2022 21,527 12,757 4,100 38,384
Additions - 2,208 11,745 13,953
At 28 February 2023 21,527 14,965 15,845 52,337
Depreciation
At 1 March 2022 - 5,060 2,001 7,061
Charge for the year - 2,092 2,769 4,861
At 28 February 2023 - 7,152 4,770 11,922
Net book value
At 28 February 2023 21,527 7,813 11,075 40,415
At 28 February 2022 21,527 7,697 2,099 31,323
4 Debtors 2023 2022
£ £
Trade debtors 344 1,770
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 2,857 6,719
Corporation tax 4,411 2,717
Other taxes and social security costs - 240
Other creditors 12,321 13,655
19,589 23,331
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 10,790 14,873
7 Other information
Crusader Promotions Ltd is a private company limited by shares and incorporated in England. Its registered office is:
277 Stockport Road
Ashton u Lyne
Lancashire
OL7 0NT
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