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REGISTERED NUMBER: 04250850 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

CROFTCART LTD

CROFTCART LTD (REGISTERED NUMBER: 04250850)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


CROFTCART LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTOR: J Reichman





SECRETARIES: Mrs S Reichman
Mrs. M Reichman





REGISTERED OFFICE: 31 Bethune Road
London
N16 5DA





REGISTERED NUMBER: 04250850 (England and Wales)





ACCOUNTANTS: Venitt and Greaves
Chartered Accountants
115 Craven Park Road
South Tottenham
London
N15 6BL

CROFTCART LTD (REGISTERED NUMBER: 04250850)

STATEMENT OF FINANCIAL POSITION
31 JULY 2023

31.7.23 31.7.22
Notes £    £   
FIXED ASSETS
Investment property 5 1,000,000 1,000,000

CURRENT ASSETS
Debtors 6 386,539 333,677
Cash at bank 24,353 10,027
410,892 343,704
CREDITORS
Amounts falling due within one year 7 (460,205 ) (393,293 )
NET CURRENT LIABILITIES (49,313 ) (49,589 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

950,687

950,411

CREDITORS
Amounts falling due after more than one
year

8

(37,796

)

(43,518

)

PROVISIONS FOR LIABILITIES (114,000 ) (114,000 )
NET ASSETS 798,891 792,893

CAPITAL AND RESERVES
Called up share capital 10 1 1
Fair value reserve 11 486,000 486,000
Retained earnings 11 312,890 306,892
SHAREHOLDERS' FUNDS 798,891 792,893

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

CROFTCART LTD (REGISTERED NUMBER: 04250850)

STATEMENT OF FINANCIAL POSITION - continued
31 JULY 2023


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 Income Statement has not been delivered.

The financial statements were approved and authorised for issue by the director and authorised for issue on 16 April 2024 and were signed by:





J Reichman - Director


CROFTCART LTD (REGISTERED NUMBER: 04250850)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1. STATUTORY INFORMATION

Croftcart Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

4. EMPLOYEES AND DIRECTORS

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

CROFTCART LTD (REGISTERED NUMBER: 04250850)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2022
and 31 July 2023 1,000,000
NET BOOK VALUE
At 31 July 2023 1,000,000
At 31 July 2022 1,000,000

Fair value at 31 July 2023 is represented by:
£   
Valuation in 2022 600,000
Cost 400,000
1,000,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 120,039 70,327
Other debtors 266,500 263,350
386,539 333,677

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans and overdrafts (see note 9) - 9,733
Trade creditors 11,561 18,503
Taxation and social security 8,587 -
Other creditors 440,057 365,057
460,205 393,293

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.23 31.7.22
£    £   
Other creditors 37,796 43,518

Other creditor includes Bounceback loan of £37,796 [2022 - £43,518]. The loan is unsecured and guaranteed by HM Government.

CROFTCART LTD (REGISTERED NUMBER: 04250850)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

9. LOANS

An analysis of the maturity of loans is given below:

31.7.23 31.7.22
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts - 9,733
Other loans 168,822 168,822
168,822 178,555

Amounts falling due between two and five years:
Other loans - 2-5 years 37,796 43,518

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.23 31.7.22
value: £    £   
1 Ordinary £1 1 1

11. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 August 2022 306,892 486,000 792,892
Profit for the year 35,998 35,998
Dividends (30,000 ) (30,000 )
At 31 July 2023 312,890 486,000 798,890