Company Registration No. 06131301 (England and Wales)
CROCODILE TRADING LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 OCTOBER 2023
31 October 2023
PAGES FOR FILING WITH REGISTRAR
PM+M Solutions for Business LLP
Chartered Accountants
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
CROCODILE TRADING LIMITED
COMPANY INFORMATION
Director
Mr N Harrison
Company number
06131301
Registered office
44 Common Lane
Culcheth
Warrington
Cheshire
WA3 4HA
Accountants
PM+M Solutions for Business LLP
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
CROCODILE TRADING LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
Detailed trading and profit and loss account
CROCODILE TRADING LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
CROCODILE TRADING LIMITED
BALANCE SHEET
AS AT
31 OCTOBER 2023
31 October 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
3,779
5,061
Current assets
Stocks
85,599
123,517
Debtors
4
7,799
16,745
Cash at bank and in hand
113,031
99,098
206,429
239,360
Creditors: amounts falling due within one year
5
(53,502)
(23,336)
Net current assets
152,927
216,024
Total assets less current liabilities
156,706
221,085
Provisions for liabilities
(944)
(1,264)
Net assets
155,762
219,821
Capital and reserves
Called up share capital
199
199
Profit and loss reserves
155,563
219,622
Total equity
155,762
219,821
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 8 March 2024
Mr N Harrison
Director
Company registration number 06131301 (England and Wales)
CROCODILE TRADING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023
- 2 -
1
Accounting policies
Company information
Crocodile Trading Limited is a private company limited by shares incorporated in England and Wales. The registered office is 44 Common Lane, Culcheth, Warrington, Cheshire, WA3 4HA.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention and the principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents net invoiced sales of goods, excluding value added tax.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
25% on reducing balance
Website
33% on cost
1.4
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
1.5
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
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.
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.
CROCODILE TRADING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
1
Accounting policies
(Continued)
- 3 -
1.6
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.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
2
2
3
Tangible fixed assets
Plant and equipment
Website
Total
£
£
£
Cost
At 1 November 2022
11,319
6,500
17,819
Additions
1,200
1,200
At 31 October 2023
12,519
6,500
19,019
Depreciation and impairment
At 1 November 2022
10,970
1,788
12,758
Depreciation charged in the year
337
2,145
2,482
At 31 October 2023
11,307
3,933
15,240
Carrying amount
At 31 October 2023
1,212
2,567
3,779
At 31 October 2022
349
4,712
5,061
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
7,799
16,745
CROCODILE TRADING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
- 4 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
450
Taxation and social security
24,505
17,363
Other creditors
28,997
5,523
53,502
23,336
6
Directors' transactions
Description
% Rate
Opening balance
Amounts repaid
Closing balance
£
£
£
N Harrison - Loan
-
15,874
(30,991)
(15,117)
15,874
(30,991)
(15,117)