2 false false false false false false false false false true false false false false false false No description of principal activity 2022-11-01 Sage Accounts Production Advanced 2021 - FRS102_2021 13,593 1,051 14,644 5,640 751 6,391 8,253 7,953 xbrli:pure xbrli:shares iso4217:GBP 04836824 2022-11-01 2023-10-31 04836824 2023-10-31 04836824 2022-10-31 04836824 2021-11-01 2022-10-31 04836824 2022-10-31 04836824 core:PlantMachinery 2022-11-01 2023-10-31 04836824 bus:Director1 2022-11-01 2023-10-31 04836824 core:PlantMachinery 2022-10-31 04836824 core:PlantMachinery 2023-10-31 04836824 core:WithinOneYear 2023-10-31 04836824 core:WithinOneYear 2022-10-31 04836824 core:AfterOneYear 2023-10-31 04836824 core:AfterOneYear 2022-10-31 04836824 core:ShareCapital 2023-10-31 04836824 core:ShareCapital 2022-10-31 04836824 core:RetainedEarningsAccumulatedLosses 2023-10-31 04836824 core:RetainedEarningsAccumulatedLosses 2022-10-31 04836824 core:PlantMachinery 2022-10-31 04836824 bus:SmallEntities 2022-11-01 2023-10-31 04836824 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 04836824 bus:FullAccounts 2022-11-01 2023-10-31 04836824 bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 04836824 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31
COMPANY REGISTRATION NUMBER: 04836824
Crafty Cakes Limited
Filleted Unaudited Financial Statements
31 October 2023
Crafty Cakes Limited
Statement of Financial Position
31 October 2023
2023
2022
Note
£
£
£
Fixed Assets
Tangible assets
5
8,253
7,953
Current Assets
Stocks
2,596
2,885
Debtors
6
916
783
Cash at bank and in hand
13,980
12,518
--------
--------
17,492
16,186
Creditors: amounts falling due within one year
7
8,156
8,418
--------
--------
Net Current Assets
9,336
7,768
--------
--------
Total Assets Less Current Liabilities
17,589
15,721
Creditors: amounts falling due after more than one year
8
276
403
Provisions
Taxation including deferred tax
1,504
1,511
--------
--------
Net Assets
15,809
13,807
--------
--------
Capital and Reserves
Called up share capital
100
100
Profit and loss account
15,709
13,707
--------
--------
Shareholders Funds
15,809
13,807
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Crafty Cakes Limited
Statement of Financial Position (continued)
31 October 2023
These financial statements were approved by the board of directors and authorised for issue on 23 February 2024 , and are signed on behalf of the board by:
Mrs R Cuming
Director
Company registration number: 04836824
Crafty Cakes Limited
Notes to the Financial Statements
Year Ended 31 October 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 6 The Willows, Shillingford St George, Exeter, Devon, EX2 9QS, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover represents the invoiced value of sales of goods, net of value added tax.
Income tax
Deferred tax is provided in full on all material timing differences which represent a liability at the balance sheet date, at rates expected to apply when they crystallise based on current tax rates and law. Timing differences arise from the inclusion of items of income or expenditure in tax computations in periods different from those in which they are included in the financial statements. Deferred tax assets and liabilities are not discounted. No provision for deferred tax has been made since the directors are of the opinion that no liability will crystallise in the foreseeable future.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant & Machinery
-
10% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and disposal costs.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 3 ).
5. Tangible assets
Plant and machinery
Total
£
£
Cost
At 1 November 2022
13,593
13,593
Additions
1,051
1,051
--------
--------
At 31 October 2023
14,644
14,644
--------
--------
Depreciation
At 1 November 2022
5,640
5,640
Charge for the year
751
751
--------
--------
At 31 October 2023
6,391
6,391
--------
--------
Carrying amount
At 31 October 2023
8,253
8,253
--------
--------
At 31 October 2022
7,953
7,953
--------
--------
6. Debtors
2023
2022
£
£
Other debtors
916
783
----
----
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
4,301
4,277
Corporation tax
2,743
3,228
Social security and other taxes
80
Other creditors
1,032
913
-------
-------
8,156
8,418
-------
-------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
276
403
----
----
9. Related party transactions
Included in other creditors is an interest free loan from the director amounting to £276 (2022: £403). The shareholders received dividends totalling £10,000 in the year (2022: £20,000.)