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
Croft Financial Advice Ltd
Company Information
for the year ended 31 March 2024
Directors
Mr R Croft
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
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
Croft Financial Advice Ltd
Statement of financial position
as at 31 March 2024
Tangible assets
73,717
97,405
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)
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
Croft Financial Advice Ltd
Notes to the Accounts
for the year ended 31 March 2024
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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
At 31 March 2024
6,089
112,340
118,429
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
At 31 March 2024
2,999
70,718
73,717
At 31 March 2023
3,115
94,290
97,405
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
Loans from directors
1,051
53,555
6
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
34,024
36,749
Allotted, called up and fully paid:
10 Ordinary shares of £1 each
10
10
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
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).