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REGISTERED NUMBER: 03503279 (England and Wales)








Unaudited Financial Statements

for the Year Ended

29 February 2024

for

Educational Art & Craft Supplies
Limited

Educational Art & Craft Supplies
Limited (Registered number: 03503279)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Educational Art & Craft Supplies
Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: J F Yeomans
C J Yeomans
S J Yeomans





REGISTERED OFFICE: Frederick Road
Hoo Farm Industrial Estate
Kidderminster
Worcestershire
DY11 7RA





REGISTERED NUMBER: 03503279 (England and Wales)





ACCOUNTANTS: Nicklin Accountancy Services Limited
Chartered Accountants
Church Court
Stourbridge Road
Halesowen
West Midlands
B63 3TT

Educational Art & Craft Supplies
Limited (Registered number: 03503279)

Balance Sheet
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 199,359 190,327

CURRENT ASSETS
Stocks 383,894 418,943
Debtors 5 495,358 424,251
Cash at bank and in hand 790,970 562,629
1,670,222 1,405,823
CREDITORS
Amounts falling due within one year 6 398,447 346,394
NET CURRENT ASSETS 1,271,775 1,059,429
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,471,134

1,249,756

PROVISIONS FOR LIABILITIES 37,200 36,000
NET ASSETS 1,433,934 1,213,756

CAPITAL AND RESERVES
Called up share capital 155,102 155,102
Retained earnings 1,278,832 1,058,654
SHAREHOLDERS' FUNDS 1,433,934 1,213,756

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Board of Directors and authorised for issue on 30 August 2024 and were signed on its behalf by:





J F Yeomans - Director


Educational Art & Craft Supplies
Limited (Registered number: 03503279)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Educational Art & Craft Supplies Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% 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.

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 22 (2023 - 22 ) .

Educational Art & Craft Supplies
Limited (Registered number: 03503279)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 March 2023 331,833 60,475 155,274 19,995 567,577
Additions 2,232 809 58,150 2,129 63,320
At 29 February 2024 334,065 61,284 213,424 22,124 630,897
DEPRECIATION
At 1 March 2023 248,389 53,084 57,386 18,391 377,250
Charge for year 12,851 1,177 39,009 1,251 54,288
At 29 February 2024 261,240 54,261 96,395 19,642 431,538
NET BOOK VALUE
At 29 February 2024 72,825 7,023 117,029 2,482 199,359
At 28 February 2023 83,444 7,391 97,888 1,604 190,327

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 477,660 358,515
Other debtors 17,698 65,736
495,358 424,251

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 231,918 139,552
Amounts owed to group undertakings - 100,000
Taxation and social security 156,217 98,085
Other creditors 10,312 8,757
398,447 346,394