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CROMER TROPHIES & ENGRAVING LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
Registered number: 04794060

 
CROMER TROPHIES & ENGRAVING LIMITED
REGISTERED NUMBER:04794060

ABRIDGED BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
24,805
30,242

Current assets
  

Stocks
  
15,000
15,000

Debtors
  
5,446
2,426

Cash at bank and in hand
  
11,502
23,442

  
31,948
40,868

Creditors: amounts falling due within one year
  
(22,554)
(30,159)

Net current assets
  
 
 
9,394
 
 
10,709

Total assets less current liabilities
  
34,199
40,951

Creditors: amounts falling due after more than one year
  
(2,400)
(4,800)

Provisions for liabilities
  
(4,713)
(5,746)

Net assets
  
£27,086
£30,405


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
26,986
30,305

  
£27,086
£30,405


Page 1

 
CROMER TROPHIES & ENGRAVING LIMITED
REGISTERED NUMBER:04794060

ABRIDGED BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The abridged financial statements were approved and authorised for issue by the board and were signed on its behalf on 13 September 2024.




S J Burbidge
Director

The notes on pages 3 to 6 form part of these abridged financial statements.

Page 2

 
CROMER TROPHIES & ENGRAVING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Cromer Trophies & Engraving Limited is a private company, limited by shares, domiciled in England and Wales, registration number 04794060. The company's registered office is 11 West Street, Cromer, Norfolk, NR27 9HZ.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover comprises revenue recognised by the company in respect of goods and services provided, exclusive of Value Added Tax.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses.

Depreciation is provided at rates calculated to write off the cost of fixed assets less their estimated residual value over their expected useful lives.

Depreciation is provided on the following basis:

Leasehold property
-
over the period of the lease
Fixtures and equipment
-
25% reducing balance

A full years depreciation charge is provided in the year of acquisition and none in the year of disposal.
Gains and losses on disposals are determined by comparing proceeds with the carrying amount and are recognised in the Statement of Comprehensive Income.

 
2.4

Stocks

Stocks have been valued by the director at the lower of cost and net realisable value.

 
2.5

Debtors

Debtors are measured at transaction price, less any impairment for bad or doubtful debts.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 3

 
CROMER TROPHIES & ENGRAVING LIMITED
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.7

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties.

 
2.8

Creditors

Creditors are measured at transaction price.

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.10

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Statement of Comprehensive Income on a straight-line basis over the lease term.

 
2.11

Interest income

Interest income is recognised in the Statement of Comprehensive Income in the year in which it is received.

 
2.12

Finance costs

Finance costs are recognised in the Statement of Comprehensive Income in the year in which they are incurred.

 
2.13

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

  
2.14

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to the Statement of Comprehensive Income in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance Sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

Page 4

 
CROMER TROPHIES & ENGRAVING LIMITED
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.15

Current and deferred taxation

The taxation expense for the year comprises current corporation tax which is recognised in the Statement of Comprehensive Income.
The current corporation tax charge is calculated on the basis of taxation rates and laws that have been enacted or substantively enacted by the balance sheet date in the United Kingdom.
The charge for taxation takes into account taxation deferred or accelerated as a result of all material timing differences between the treatment of certain items for taxation and accounting purposes. Deferred tax assets are recognised only to the extent that they are regarded as recoverable within the foreseeable future. Deferred tax assets and liabilities are not discounted.


3.


Employees

2024
2023
£
£

Wages and salaries
37,991
33,089

Cost of defined contribution scheme
748
569

£38,739
£33,658


The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 5

 
CROMER TROPHIES & ENGRAVING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


Tangible fixed assets





Leasehold property
Fixtures & equipment
Total

£
£
£



Cost or valuation


At 1 July 2023
14,787
107,590
122,377


Additions
-
2,839
2,839



At 30 June 2024

14,787
110,429
125,216



Depreciation


At 1 July 2023
14,787
77,348
92,135


Charge for the year on owned assets
-
8,276
8,276



At 30 June 2024

14,787
85,624
100,411



Net book value



At 30 June 2024
£-
£24,805
£24,805



At 30 June 2023
£-
£30,242
£30,242


Page 6