11 false false false false false false false false false true false false false false false false No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2021 - FRS102_2021 49,368 1,568 50,936 44,764 4,151 48,915 2,021 4,604 xbrli:pure xbrli:shares iso4217:GBP 04928596 2023-01-01 2023-12-31 04928596 2023-12-31 04928596 2022-12-31 04928596 2022-01-01 2022-12-31 04928596 2022-12-31 04928596 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 04928596 bus:Director1 2023-01-01 2023-12-31 04928596 bus:Director2 2023-01-01 2023-12-31 04928596 core:WithinOneYear 2023-12-31 04928596 core:WithinOneYear 2022-12-31 04928596 core:ShareCapital 2023-12-31 04928596 core:ShareCapital 2022-12-31 04928596 core:RetainedEarningsAccumulatedLosses 2023-12-31 04928596 core:RetainedEarningsAccumulatedLosses 2022-12-31 04928596 bus:SmallEntities 2023-01-01 2023-12-31 04928596 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 04928596 bus:FullAccounts 2023-01-01 2023-12-31 04928596 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 04928596 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04928596 bus:OrdinaryShareClass1 2023-12-31 04928596 bus:OrdinaryShareClass1 2022-12-31 04928596 core:OfficeEquipment 2023-01-01 2023-12-31 04928596 core:OfficeEquipment 2022-12-31 04928596 core:OfficeEquipment 2023-12-31
COMPANY REGISTRATION NUMBER: 04928596
CRAVEN SLATER & ASSOCIATES LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 December 2023
CRAVEN SLATER & ASSOCIATES LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
Contents
Pages
Balance sheet 1
Notes to the financial statements 2 to 5
CRAVEN SLATER & ASSOCIATES LIMITED
BALANCE SHEET
31 December 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
2,021
4,604
Current assets
Debtors
6
5,277
112,024
Cash at bank and in hand
621,024
433,625
------------
------------
626,301
545,649
Creditors: amounts falling due within one year
7
294,988
443,180
------------
------------
Net current assets
331,313
102,469
------------
------------
Total assets less current liabilities
333,334
107,073
------------
------------
Net assets
333,334
107,073
------------
------------
Capital and reserves
Called up share capital
8
100
100
Profit and loss account
333,234
106,973
------------
------------
Shareholders funds
333,334
107,073
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 13 August 2024 , and are signed on behalf of the board by:
D J Craven
R S Slater
Director
Director
Company registration number: 04928596
CRAVEN SLATER & ASSOCIATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is E Mill, Dean Clough Mills, Halifax, HX3 5AX.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover represents the value of goods sold and services provided.
Taxation
Deferred taxation is provided on the liability method at anticipated future rates of taxation on differences arising from the inclusion of income and expenditure in periods different for accounts and taxation purposes.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Office and IT equipment
-
33% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 11 (2022: 11 ).
5. Tangible assets
Equipment
Total
£
£
Cost
At 1 January 2023
49,368
49,368
Additions
1,568
1,568
------------
------------
At 31 December 2023
50,936
50,936
------------
------------
Depreciation
At 1 January 2023
44,764
44,764
Charge for the year
4,151
4,151
------------
------------
At 31 December 2023
48,915
48,915
------------
------------
Carrying amount
At 31 December 2023
2,021
2,021
------------
------------
At 31 December 2022
4,604
4,604
------------
------------
6. Debtors
2023
2022
£
£
Trade debtors
1,386
2,921
Prepayments and accrued income
3,868
109,103
Other debtors
23
------------
------------
5,277
112,024
------------
------------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
175,613
319,964
Accruals and deferred income
37,136
40,914
Corporation tax
69,194
23,576
Social security and other taxes
13,045
8,722
Director loan accounts
50,004
------------
------------
294,988
443,180
------------
------------
8. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
------------
------------
------------
------------
9. Related party transactions
The directors' loan of £Nil (2022: £50,004) as set out above is unsecured, repayable on demand and currently interest free There is no one controlling party of the company.