Company No:
Contents
DIRECTORS | Miss T E Tubbs |
Mr N A Tubbs | |
Mr H J Tubbs |
SECRETARY | Miss T E Tubbs |
REGISTERED OFFICE | 14 Skyways Business Park |
Fair Oak Close | |
Clyst Honiton | |
Exeter | |
EX5 2UL | |
United Kingdom |
COMPANY NUMBER | 04626211 (England and Wales) |
CHARTERED ACCOUNTANTS | Francis Clark LLP |
Centenary House | |
Peninsula Park | |
Rydon Lane | |
Exeter | |
Devon EX2 7XE |
Note | 27.01.2024 | 28.01.2023 | ||
£ | £ | |||
Fixed assets | ||||
Intangible assets | 3 |
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Tangible assets | 4 |
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478,264 | 492,367 | |||
Current assets | ||||
Stocks |
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Debtors | 5 |
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Cash at bank and in hand |
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267,739 | 494,063 | |||
Creditors: amounts falling due within one year | 6 | (
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Net current assets | 143,154 | 362,477 | ||
Total assets less current liabilities | 621,418 | 854,844 | ||
Creditors: amounts falling due after more than one year | 7 | (
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Provision for liabilities | (
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Net assets |
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Capital and reserves | ||||
Called-up share capital | 8 |
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Share premium account |
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Capital redemption reserve |
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Profit and loss account |
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Total shareholders' funds |
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Directors' responsibilities:
The financial statements of The Crusty Cob (Creations) Limited (registered number:
Miss T E Tubbs
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial period, unless otherwise stated.
The Crusty Cob (Creations) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 14 Skyways Business Park, Fair Oak Close, Clyst Honiton, Exeter, EX5 2UL, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.
Goodwill |
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Land and buildings |
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Plant and machinery |
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Vehicles |
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Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.
Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.
Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.
Other basic financial liabilities are measured at amortised cost.
Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.
Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.
During the year the company received £Nil in relation to Covid related Statutory Sick Pay (2023: £328). The total grants recognised in the accounts are £Nil (2023: £328).
Period from 29.01.2023 to 27.01.2024 |
Period from 30.01.2022 to 28.01.2023 |
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Number | Number | ||
Monthly average number of persons employed by the Company during the period, including directors |
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Goodwill | Total | ||
£ | £ | ||
Cost | |||
At 29 January 2023 |
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At 27 January 2024 |
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Accumulated amortisation | |||
At 29 January 2023 |
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Charge for the financial period |
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At 27 January 2024 |
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Net book value | |||
At 27 January 2024 |
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At 28 January 2023 |
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Land and buildings | Plant and machinery | Vehicles | Total | ||||
£ | £ | £ | £ | ||||
Cost | |||||||
At 29 January 2023 |
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Additions |
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Disposals |
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At 27 January 2024 |
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Accumulated depreciation | |||||||
At 29 January 2023 |
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Charge for the financial period |
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Disposals |
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At 27 January 2024 |
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Net book value | |||||||
At 27 January 2024 |
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At 28 January 2023 |
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27.01.2024 | 28.01.2023 | ||
£ | £ | ||
Trade debtors |
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Prepayments |
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VAT recoverable |
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Corporation tax |
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Other debtors |
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27.01.2024 | 28.01.2023 | ||
£ | £ | ||
Bank loans |
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Trade creditors |
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Accruals |
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Taxation and social security |
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Other creditors |
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27.01.2024 | 28.01.2023 | ||
£ | £ | ||
Bank loans (secured) |
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A £203,000 loan was acquired on 30 October 2017 and will mature on 29 October 2027. The loan is being settled by 120 monthly instalments.
27.01.2024 | 28.01.2023 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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111,500 | 111,500 |
Preference share holders are entitled to a fixed cumulative cash dividend of 12p per share per annum. The remaining profits which the Company determines to distribute in any financial year shall be applied in distributing the balance of such profits amongst the holders of the Ordinary Shares then in issue pari passu according to the number of such shares held by them respectively.
Voting rights:
Ordinary Shares will confer on each holder thereof (in that capacity) the right to receive notice of an to attend, speak and vote at all general meetings of the Company. Preference Shares shall confer of the holder thereof no right to receive notice of or attend or speak or vote at all general meetings of the Company.
Commitments
Capital commitments are as follows:
27.01.2024 | 28.01.2023 | ||
£ | £ | ||
Contracted for but not provided for: | |||
Other | 819,121 | 1,159,803 |
Mr H Tubbs, Mrs T Tubbs and Mr N Tubbs have all provided a personal guarantee in an amount of £150,000 each on behalf of the company.