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Company Registration No. 08936204 (England and Wales)
Croft Financial Advice Ltd Unaudited accounts for the year ended 31 March 2024
Croft Financial Advice Ltd Unaudited accounts Contents
Page
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Croft Financial Advice Ltd Company Information for the year ended 31 March 2024
Directors
Mr R Croft Mrs N D Croft
Secretary
Mrs N D Croft
Company Number
08936204 (England and Wales)
Registered Office
11 Bound Lane Hayling Island PO11 9HU
Accountants
TaxSense Accountants Ltd 203 West Street Fareham Hants PO16 0EN
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Croft Financial Advice Ltd Accountants' report
Accountants' report to the board of directors of Croft Financial Advice Ltd on the preparation of the unaudited statutory accounts for the year ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Croft Financial Advice Ltd for the year ended 31 March 2024 as set out on pages 5 - 7 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Croft Financial Advice Ltd, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Croft Financial Advice Ltd and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Croft Financial Advice Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Croft Financial Advice Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Croft Financial Advice Ltd. You consider that Croft Financial Advice Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Croft Financial Advice Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
TaxSense Accountants Ltd 203 West Street Fareham Hants PO16 0EN 20 June 2024
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Croft Financial Advice Ltd Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
73,717 
97,405 
Current assets
Cash at bank and in hand
6,309 
29,199 
Creditors: amounts falling due within one year
(38,524)
(68,215)
Net current liabilities
(32,215)
(39,016)
Total assets less current liabilities
41,502 
58,389 
Creditors: amounts falling due after more than one year
(34,024)
(36,749)
Net assets
7,478 
21,640 
Capital and reserves
Called up share capital
10 
10 
Profit and loss account
7,468 
21,630 
Shareholders' funds
7,478 
21,640 
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 20 June 2024 and were signed on its behalf by
Mr R Croft Director Company Registration No. 08936204
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Croft Financial Advice Ltd Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Croft Financial Advice Ltd is a private company, limited by shares, registered in England and Wales, registration number 08936204. The registered office is 11 Bound Lane, Hayling Island, PO11 9HU.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25 % reducing balance
Motor vehicles
25 % reducing balance
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 April 2023
5,398 
112,340 
117,738 
Additions
691 
- 
691 
At 31 March 2024
6,089 
112,340 
118,429 
Depreciation
At 1 April 2023
2,283 
18,050 
20,333 
Charge for the year
807 
23,572 
24,379 
At 31 March 2024
3,090 
41,622 
44,712 
Net book value
At 31 March 2024
2,999 
70,718 
73,717 
At 31 March 2023
3,115 
94,290 
97,405 
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Croft Financial Advice Ltd Notes to the Accounts for the year ended 31 March 2024
5
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Obligations under finance leases and hire purchase contracts
3,187 
3,187 
Taxes and social security
4,791 
11,473 
Other creditors
29,495 
- 
Loans from directors
1,051 
53,555 
38,524 
68,215 
6
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Obligations under finance leases and hire purchase contracts
34,024 
36,749 
7
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
10 Ordinary shares of £1 each
10 
10 
8
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Mrs N D Croft
Director Loan Account
(26,778)
(11,086)
(37,338)
(526)
Director Loan Account
(26,777)
(11,086)
(37,338)
(525)
(53,555)
(22,172)
(74,676)
(1,051)
9
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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