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REGISTERED NUMBER: 11279982 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

LEAF CRAFTS LTD

LEAF CRAFTS LTD (REGISTERED NUMBER: 11279982)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Balance Sheet 1

Notes to the Financial Statements 3


LEAF CRAFTS LTD (REGISTERED NUMBER: 11279982)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 23,311 25,649

CURRENT ASSETS
Stocks 215,080 162,662
Debtors 5 6,162 2,338
Cash at bank and in hand 139,401 161,292
360,643 326,292
CREDITORS
Amounts falling due within one year 6 96,798 90,119
NET CURRENT ASSETS 263,845 236,173
TOTAL ASSETS LESS CURRENT
LIABILITIES

287,156

261,822

CREDITORS
Amounts falling due after more than one
year

7

(16,667

)

(26,667

)

PROVISIONS FOR LIABILITIES (5,828 ) (4,873 )
NET ASSETS 264,661 230,282

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 264,660 230,281
SHAREHOLDERS' FUNDS 264,661 230,282

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

LEAF CRAFTS LTD (REGISTERED NUMBER: 11279982)

BALANCE SHEET - continued
31 MARCH 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 August 2024 and were signed by:





Mr S M Johnson - Director


LEAF CRAFTS LTD (REGISTERED NUMBER: 11279982)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Leaf Crafts Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 11279982

Registered office: Unit 1 Creek Fen Business Park
Creek Fen
March
Cambridgeshire
PE15 0BU

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the invoiced value of goods and services supplied, stated net of value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant & equipment - 15% on reducing balance
Office & computer equipment - 20% on cost and 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 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.

LEAF CRAFTS LTD (REGISTERED NUMBER: 11279982)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 7 ) .

4. TANGIBLE FIXED ASSETS
Office &
Plant & computer
equipment equipment Totals
£    £    £   
COST
At 1 April 2023 32,365 6,679 39,044
Additions 255 2,207 2,462
Disposals - (83 ) (83 )
At 31 March 2024 32,620 8,803 41,423
DEPRECIATION
At 1 April 2023 10,553 2,842 13,395
Charge for year 3,299 1,442 4,741
Eliminated on disposal - (24 ) (24 )
At 31 March 2024 13,852 4,260 18,112
NET BOOK VALUE
At 31 March 2024 18,768 4,543 23,311
At 31 March 2023 21,812 3,837 25,649

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 6,162 2,338

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 7,156 5,127
Taxation and social security 74,886 57,672
Other creditors 4,756 17,320
96,798 90,119

LEAF CRAFTS LTD (REGISTERED NUMBER: 11279982)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 16,667 26,667

8. RELATED PARTY DISCLOSURES

During the year, total dividends of £66,000 (2023 - £28,000) were paid to the director .

During the year the company rented premises from Leaf Storage Ltd, a company of which Mr S M Johnson is a director, paying a market rate rent of £15,600 for the year (2023 - £15,600).

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr S M Johnson.