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REGISTERED NUMBER: 02803578 (England and Wales)



















CROFT PRINTING LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023






CROFT PRINTING LIMITED (REGISTERED NUMBER: 02803578)

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










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


CROFT PRINTING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTORS: Mr I Briggs
Mrs M A Briggs





SECRETARY: Mrs M A Briggs





REGISTERED OFFICE: 81 Burton Road
Derby
Derbyshire
DE1 1TJ





REGISTERED NUMBER: 02803578 (England and Wales)





ACCOUNTANTS: Johnson Tidsall Limited
Chartered Accountants
81 Burton Road
Derby
Derbyshire
DE1 1TJ

CROFT PRINTING LIMITED (REGISTERED NUMBER: 02803578)

BALANCE SHEET
28 FEBRUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 208,750 250,500
Tangible assets 5 137,878 163,315
346,628 413,815

CURRENT ASSETS
Stocks 6 26,154 20,753
Debtors 7 106,619 173,060
Cash at bank and in hand 131,753 113,405
264,526 307,218
CREDITORS
Amounts falling due within one year 8 145,834 191,334
NET CURRENT ASSETS 118,692 115,884
TOTAL ASSETS LESS CURRENT
LIABILITIES

465,320

529,699

CREDITORS
Amounts falling due after more than one year 9 (209,709 ) (239,255 )

PROVISIONS FOR LIABILITIES (24,692 ) (29,136 )
NET ASSETS 230,919 261,308

CAPITAL AND RESERVES
Called up share capital 10 2 2
Retained earnings 230,917 261,306
SHAREHOLDERS' FUNDS 230,919 261,308

CROFT PRINTING LIMITED (REGISTERED NUMBER: 02803578)

BALANCE SHEET - continued
28 FEBRUARY 2023


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.

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 Board of Directors and authorised for issue on 26 November 2023 and were signed on its behalf by:





Mr I Briggs - Director


CROFT PRINTING LIMITED (REGISTERED NUMBER: 02803578)

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


1. STATUTORY INFORMATION

Croft Printing 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.

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 2009, 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.
Improvements to property - 10% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on cost

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

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.


CROFT PRINTING LIMITED (REGISTERED NUMBER: 02803578)

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

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Grant income
Grants are recognised as income over the life of the assets to which they relate. Grants are received in relation to Plant & Machinery which is depreciated at a rate of 15% reducing balance.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2022
and 28 February 2023 835,000
AMORTISATION
At 1 March 2022 584,500
Charge for year 41,750
At 28 February 2023 626,250
NET BOOK VALUE
At 28 February 2023 208,750
At 28 February 2022 250,500

CROFT PRINTING LIMITED (REGISTERED NUMBER: 02803578)

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


5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 March 2022 71,309 285,533 18,254 18,473 393,569
Additions - 225 - - 225
At 28 February 2023 71,309 285,758 18,254 18,473 393,794
DEPRECIATION
At 1 March 2022 62,523 137,795 12,185 17,751 230,254
Charge for year 1,832 22,195 913 722 25,662
At 28 February 2023 64,355 159,990 13,098 18,473 255,916
NET BOOK VALUE
At 28 February 2023 6,954 125,768 5,156 - 137,878
At 28 February 2022 8,786 147,738 6,069 722 163,315

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

6. STOCKS
2023 2022
£    £   
Raw materials 26,154 20,753

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 30,183 129,998
Other debtors 74,000 36,000
Directors' current accounts - 4,733
Prepayments and accrued income 2,436 2,329
106,619 173,060

CROFT PRINTING LIMITED (REGISTERED NUMBER: 02803578)

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


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 31,168 22,914
Trade creditors 32,208 50,739
Corporation tax 8,478 16,787
Social security and other taxes 2,806 1,610
VAT 10,829 31,372
Other creditors 10,381 10,300
Directors' current accounts 691 -
Accruals and deferred income 49,273 57,612
145,834 191,334

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 9,941 9,992
Bank loans - 2-5 years 20,922 30,849
Bank loans >5 yr (instalments) 178,846 198,414
209,709 239,255

Amounts falling due in more than five years:

Repayable by instalments
Bank loans >5 yr (instalments) 178,846 198,414

10. CALLED UP SHARE CAPITAL

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