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Registered number: 12086873
The Modern Crafter LTD
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 July 2023
Numbercloud Limited
Chartered Certified Accountants
14 High Street
Saffron Walden
Essex
CB10 1AY
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—4
Page 1
Abridged Balance Sheet
Registered number: 12086873
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,671 858
1,671 858
CURRENT ASSETS
Debtors - 5,969
Cash at bank and in hand 652 230
652 6,199
Creditors: Amounts Falling Due Within One Year (14,158 ) (4,804 )
NET CURRENT ASSETS (LIABILITIES) (13,506 ) 1,395
TOTAL ASSETS LESS CURRENT LIABILITIES (11,835 ) 2,253
NET (LIABILITIES)/ASSETS (11,835 ) 2,253
CAPITAL AND RESERVES
Called up share capital 5 100 100
Profit and Loss Account (11,935 ) 2,153
SHAREHOLDERS' FUNDS (11,835) 2,253
Page 1
Page 2
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 31 July 2023 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Miss Rachel Lawson
Director
16 April 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
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Notes to the Abridged Financial Statements
1. General Information
The Modern Crafter LTD is a private company, limited by shares, incorporated in England & Wales, registered number 12086873 . The registered office is 14 High Street, Saffron Walden, Essex, CB10 1AY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 33% straight line
Computer Equipment 33% straight line
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
1 1
4. Tangible Assets
Total
£
Cost
As at 1 August 2022 1,287
Additions 1,357
As at 31 July 2023 2,644
Depreciation
As at 1 August 2022 429
Provided during the period 544
As at 31 July 2023 973
Net Book Value
As at 31 July 2023 1,671
As at 1 August 2022 858
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5. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
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