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REGISTERED NUMBER: 03294808 (England and Wales)















Financial Statements for the Year Ended 31 December 2023

for

Aberaeron Craft Centre Limited

Aberaeron Craft Centre Limited (Registered number: 03294808)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Aberaeron Craft Centre Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mr D A Hickman
Mr P A T Mathias





SECRETARY: Mrs E T Mathias





REGISTERED OFFICE: The Reception Office
Aberearon Craft Centre
Aberearon
Ceredigion
SA46 0DX





REGISTERED NUMBER: 03294808 (England and Wales)





ACCOUNTANTS: Haines Watts Wolverhampton Limited
Keepers Lane
The Wergs
Wolverhampton
West Midlands
WV6 8UA

Aberaeron Craft Centre Limited (Registered number: 03294808)

Statement of Financial Position
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 268,487 277,413

CURRENT ASSETS
Debtors 5 20,086 47,054
Cash at bank 23,581 16,160
43,667 63,214
CREDITORS
Amounts falling due within one year 6 115,391 115,408
NET CURRENT LIABILITIES (71,724 ) (52,194 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

196,763

225,219

PROVISIONS FOR LIABILITIES 740 732
NET ASSETS 196,023 224,487

CAPITAL AND RESERVES
Called up share capital 7 2 2
Retained earnings 196,021 224,485
SHAREHOLDERS' FUNDS 196,023 224,487

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

Aberaeron Craft Centre Limited (Registered number: 03294808)

Statement of Financial Position - continued
31 December 2023


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 September 2024 and were signed on its behalf by:





Mr P A T Mathias - Director


Aberaeron Craft Centre Limited (Registered number: 03294808)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Aberaeron Craft Centre 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.

The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. Based on these assessments, given the measures that could be undertaken to mitigate the current adverse conditions, and the current resources available, the Directors have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts.

Turnover
Turnover represents the invoiced value of rent, insurance and service charges excluding 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.
Freehold property - 2% on cost
Fixtures and fittings - 15% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Aberaeron Craft Centre Limited (Registered number: 03294808)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and
property fittings Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 429,206 22,972 452,178
DEPRECIATION
At 1 January 2023 154,076 20,689 174,765
Charge for year 8,584 342 8,926
At 31 December 2023 162,660 21,031 183,691
NET BOOK VALUE
At 31 December 2023 266,546 1,941 268,487
At 31 December 2022 275,130 2,283 277,413

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 17,458 47,054
Other debtors 2,628 -
20,086 47,054

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 5,513 5,720
Taxation and social security - 2,839
Other creditors 109,878 106,849
115,391 115,408

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary £1 2 2