Officecraft Limited
Registered number: 02526482
Balance Sheet
at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 504 514
Current assets
Debtors 4 2,620 8,880
Cash at bank and in hand 56,895 60,994
59,515 69,874
Creditors: amounts falling due within one year 5 (24,123) (49,576)
Net current assets 35,392 20,298
Net assets 35,896 20,812
Capital and reserves
Called up share capital 302 302
Profit and loss account 35,594 20,510
Shareholder's funds 35,896 20,812
The director is 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 director acknowledges his 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.
David Alexander Craggs
Director
Approved by the board on 5 March 2024
Officecraft Limited
Notes to the Financial Statements
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 – The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' ('FRS 102'), and with the Companies Act 2006. The financial statements have been prepared on the historical cost basis and are presented in Sterling (£).
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 rendering of services and is recognised by reference to the stage of completion of the contract.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is calculated to write down the cost less estimated residual value of all tangible fixed assets over their expected useful lives, using the straight-line method.
Plant and machinery 25% per year
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Taxation
Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past reporting periods using the tax rates and laws that that have been enacted or substantively enacted by the reporting date.
Deferred tax is calculated using the tax rates and laws that that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference and is recognised in respect of all timing differences at the reporting date, except as otherwise indicated. Deferred tax assets are only recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. If and when all conditions for retaining tax allowances for the cost of a fixed asset have been met, the deferred tax is reversed.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Office equipment
£
Cost
At 1 January 2023 9,022
Additions 251
At 31 December 2023 9,273
Depreciation
At 1 January 2023 8,508
Charge for the year 261
At 31 December 2023 8,769
Net book value
At 31 December 2023 504
At 31 December 2022 514
4 Debtors 2023 2022
£ £
Trade debtors - 8,880
Prepayments and accrued income 2,620 -
2,620 8,880
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 78 64
Taxation and social security costs 10,902 10,043
Other creditors 2,468 27,217
Accruals and deferred income 10,675 12,252
24,123 49,576
6 Other information
Officecraft Limited is a private company limited by shares and incorporated in England. Its registered office is:
5 Vincent Drive
Chester
Cheshire
CH4 7RQ
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