Acorah Software Products - Accounts Production 15.0.600 false true true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 11487015 Mr D P Buck Mr A Cannon iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11487015 2022-12-31 11487015 2023-12-31 11487015 2023-01-01 2023-12-31 11487015 frs-core:CurrentFinancialInstruments 2023-12-31 11487015 frs-core:Non-currentFinancialInstruments 2023-12-31 11487015 frs-core:BetweenOneFiveYears 2023-12-31 11487015 frs-core:ComputerEquipment 2023-12-31 11487015 frs-core:ComputerEquipment 2023-01-01 2023-12-31 11487015 frs-core:ComputerEquipment 2022-12-31 11487015 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-01-01 2023-12-31 11487015 frs-core:FurnitureFittings 2023-12-31 11487015 frs-core:FurnitureFittings 2023-01-01 2023-12-31 11487015 frs-core:FurnitureFittings 2022-12-31 11487015 frs-core:MotorVehicles 2023-12-31 11487015 frs-core:MotorVehicles 2023-01-01 2023-12-31 11487015 frs-core:MotorVehicles 2022-12-31 11487015 frs-core:OtherResidualIntangibleAssets 2023-12-31 11487015 frs-core:OtherResidualIntangibleAssets 2023-01-01 2023-12-31 11487015 frs-core:OtherResidualIntangibleAssets 2022-12-31 11487015 frs-core:WithinOneYear 2023-12-31 11487015 frs-core:ShareCapital 2023-12-31 11487015 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 11487015 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11487015 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 11487015 frs-bus:SmallEntities 2023-01-01 2023-12-31 11487015 frs-bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 11487015 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 11487015 frs-bus:Director1 2023-01-01 2023-12-31 11487015 frs-bus:Director2 2023-01-01 2023-12-31 11487015 frs-countries:EnglandWales 2023-01-01 2023-12-31 11487015 2021-12-31 11487015 2022-12-31 11487015 2022-01-01 2022-12-31 11487015 frs-core:CurrentFinancialInstruments 2022-12-31 11487015 frs-core:Non-currentFinancialInstruments 2022-12-31 11487015 frs-core:BetweenOneFiveYears 2022-12-31 11487015 frs-core:MotorVehicles 2022-01-01 2022-12-31 11487015 frs-core:WithinOneYear 2022-12-31 11487015 frs-core:ShareCapital 2022-12-31 11487015 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 11487015
Craftd London Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2023
Unaudited Financial Statements
Contents
Page
Company Information 1
Accountant's Report 2
Balance Sheet 3—4
Notes to the Financial Statements 5—8
Page 1
Company Information
Directors Mr D P Buck
Mr A Cannon
Company Number 11487015
Registered Office Hanover Buildings
11-13 Hanover Street
Liverpool
Merseyside
L1 3DN
Accountants ERC Accountants & Business Advisers Limited
Chartered Accountants
Hanover Buildings, 11-13 Hanover Street
Liverpool
Merseyside
L1 3DN
Page 1
Page 2
Accountant's Report
Chartered Accountant's report to the directors on the preparation of the unaudited statutory accounts of Craftd London Ltd For The Year Ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of Craftd London Ltd For The Year Ended 31 December 2023 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given to us.
As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/membership/regulations-standards-and-guidance.
This report is made solely to the directors of Craftd London Ltd , as a body, in accordance with the terms of our engagement letter dated 13 October 2023. Our work has been undertaken solely to prepare for your approval the accounts of Craftd London Ltd and state those matters that we have agreed to state to the directors of Craftd London Ltd , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Craftd London Ltd and its directors, as a body, for our work or for this report.
It is your duty to ensure that Craftd London 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 profit or loss of Craftd London Ltd . You consider that Craftd London Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of Craftd London 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 financial statements.
Signed
29 August 2024
ERC Accountants & Business Advisers Limited
Chartered Accountants
Hanover Buildings, 11-13 Hanover Street
Liverpool
Merseyside
L1 3DN
Page 2
Page 3
Balance Sheet
Registered number: 11487015
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 4,200 -
Tangible Assets 5 104,162 56,775
108,362 56,775
CURRENT ASSETS
Stocks 6 1,032,418 962,045
Debtors 7 149,781 165,465
Cash at bank and in hand 2,398,455 1,558,945
3,580,654 2,686,455
Creditors: Amounts Falling Due Within One Year 8 (3,451,645 ) (2,737,169 )
NET CURRENT ASSETS (LIABILITIES) 129,009 (50,714 )
TOTAL ASSETS LESS CURRENT LIABILITIES 237,371 6,061
Creditors: Amounts Falling Due After More Than One Year 9 (108,058 ) (41,680 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (19,791 ) (10,787 )
NET ASSETS/(LIABILITIES) 109,522 (46,406 )
CAPITAL AND RESERVES
Called up share capital 11 2 2
Profit and Loss Account 109,520 (46,408 )
SHAREHOLDERS' FUNDS 109,522 (46,406)
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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.
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.
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.
On behalf of the board
Mr D P Buck
Director
29 August 2024
The notes on pages 5 to 8 form part of these financial statements.
Page 4
Page 5
Notes to the Financial Statements
1. General Information
Craftd London Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11487015 . The registered office is Hanover Buildings, 11-13 Hanover Street, Liverpool, Merseyside, L1 3DN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
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.

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'.
2.2. Going Concern Disclosure
The director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.
2.3. 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. 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.

2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are .... It is amortised to profit and loss account over its estimated economic life of .... years.
2.5. Tangible Fixed Assets and Depreciation
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.
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:
Motor vehicles 25% Reducing balance
Fixtures and fittings 25% Reducing balance
Computer equipment 33% Straight Line
2.6. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.7. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.8. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.9. Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 8 (2022: 6)
8 6
4. Intangible Assets
Other
£
Cost
As at 1 January 2023 -
Additions 6,300
As at 31 December 2023 6,300
Amortisation
As at 1 January 2023 -
Provided during the period 2,100
As at 31 December 2023 2,100
Net Book Value
As at 31 December 2023 4,200
As at 1 January 2023 -
5. Tangible Assets
Motor vehicles Fixtures and fittings Computer equipment Total
£ £ £ £
Cost
As at 1 January 2023 112,080 3,109 19,682 134,871
Additions 116,605 12,457 4,255 133,317
Disposals (112,080 ) - - (112,080 )
As at 31 December 2023 116,605 15,566 23,937 156,108
Depreciation
As at 1 January 2023 64,796 777 12,523 78,096
Provided during the period 29,151 3,805 5,690 38,646
Disposals (64,796 ) - - (64,796 )
As at 31 December 2023 29,151 4,582 18,213 51,946
...CONTINUED
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Net Book Value
As at 31 December 2023 87,454 10,984 5,724 104,162
As at 1 January 2023 47,284 2,332 7,159 56,775
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2023 2022
£ £
Motor vehicles 87,454 47,284
87,454 47,284
6. Stocks
2023 2022
£ £
Stock 1,032,418 962,045
7. Debtors
2023 2022
£ £
Due within one year
Other debtors 149,781 165,465
149,781 165,465
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 11,587 23,350
Trade creditors 2,265,753 1,180,061
Bank loans and overdrafts 157,125 10,000
Other creditors 232,200 713,501
Taxation and social security 784,980 810,257
3,451,645 2,737,169
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 88,529 17,513
Bank loans 19,529 24,167
108,058 41,680
The hire purchase liability is secured on the asset to which it relates. 
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10. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 11,587 23,350
Later than one year and not later than five years 88,529 17,513
100,116 40,863
100,116 40,863
11. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2 2
12. Directors Advances, Credits and Guarantees
No director received advances, credits or guarantees during the current or previous accounting periods.
13. Related Party Transactions
The following related party transactions were undertaken during the year:
During the year a director of the company, introduced amounts totalling £31,949 (2022: £624) and withdrew amounts totalling £14,656 (2022: £5,674). At the balance sheet date the amount owed to the director was £17,955 (2022: £661).
During the year a director of the company, introduced amounts totalling £13,812 (2022: £624). At the balance sheet date the amount owed to the director was £17,955 (2022: £4,143). 
During the year the company made payments to a company under common control totalling £7,682. At the year end the amount owed by Craftd London Limited to the company was £Nil (2022 £7,682).
During the year, a company under common control, was issued and paid dividends of £867,750 (2022: £1,757,250), paid expenses on behalf of the company totalling £102,437 (2022: £202,682) and received repayments of £231,421 (2022: £149,910). At the year end Craftd London Limited owed to the company £86,096 (2022: £218,195).
During the year, a company under common control, was issued dividends of £867,750 (2022: £1,757,250). At the year end Craftd London Limited owed to the company £nil (2022: £nil).
During the year, a company under common control, was issued dividends of £14,500 (2022: £35,500). At the year end Craftd London Limited owed to the company £nil (2022: £nil).
During the year the company paid expenses on behalf of a connected company totalling £1,390 and received repayments totalling £Nil. The amount owed from the connected company at the year end was £1,390. 
During the year the company made payments to a connected company totalling £30,694 and received repayments totalling £15,216. The amount owed from the connected company at the year end was £15,478. 
No further transactions with related parties were undertaken such as are required to be disclosed in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
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