12 01/02/2023 31/01/2024 2024-01-31 false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2023-02-01 Sage Accounts Production 23.0 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 13878215 2023-02-01 2024-01-31 13878215 2024-01-31 13878215 2023-01-31 13878215 2022-02-01 2023-01-31 13878215 2023-01-31 13878215 2022-01-31 13878215 core:LandBuildings core:LongLeaseholdAssets 2023-02-01 2024-01-31 13878215 core:FurnitureFittingsToolsEquipment 2023-02-01 2024-01-31 13878215 bus:OrdinaryShareClass1 2023-02-01 2024-01-31 13878215 bus:Director1 2023-02-01 2024-01-31 13878215 core:WithinOneYear 2024-01-31 13878215 core:WithinOneYear 2023-01-31 13878215 core:ShareCapital 2024-01-31 13878215 core:ShareCapital 2023-01-31 13878215 core:RetainedEarningsAccumulatedLosses 2024-01-31 13878215 core:RetainedEarningsAccumulatedLosses 2023-01-31 13878215 bus:OrdinaryShareClass1 core:ShareCapital 2024-01-31 13878215 bus:OrdinaryShareClass1 core:ShareCapital 2023-01-31 13878215 core:BetweenOneFiveYears 2024-01-31 13878215 core:BetweenOneFiveYears 2023-01-31 13878215 core:MoreThanFiveYears 2024-01-31 13878215 core:MoreThanFiveYears 2023-01-31 13878215 bus:SmallEntities 2023-02-01 2024-01-31 13878215 bus:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 13878215 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 13878215 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 13878215 bus:AbridgedAccounts 2023-02-01 2024-01-31
Company registration number: 13878215
CraftyGX Limited
Information for filing with the registrar
31 January 2024
CraftyGX Limited
Contents
Abridged statement of financial position
Notes to the financial statements
CraftyGX Limited
Abridged statement of financial position
31 January 2024
31/01/24 31/01/23
Note £ £ £ £
Fixed assets
Tangible assets 5 44,110 28,866
_______ _______
44,110 28,866
Current assets
Stocks 1,000 -
Debtors 34,157 14,285
Cash at bank and in hand 12,591 14,544
_______ _______
47,748 28,829
Creditors: amounts falling due
within one year ( 178,448) ( 77,096)
_______ _______
Net current liabilities ( 130,700) ( 48,267)
_______ _______
Total assets less current liabilities ( 86,590) ( 19,401)
_______ _______
Net liabilities ( 86,590) ( 19,401)
_______ _______
Capital and reserves
Called up share capital 6 200 200
Profit and loss account ( 86,790) ( 19,601)
_______ _______
Shareholders deficit ( 86,590) ( 19,401)
_______ _______
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of comprehensive income has not been delivered.
All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the current year ending 31 January 2024 in accordance with Section 444(2A) of the Companies Act 2006.
These financial statements were approved by the board of directors and authorised for issue on 30 September 2024 , and are signed on behalf of the board by:
Mr Peter Bridges
Director
Company registration number: 13878215
CraftyGX Limited
Notes to the financial statements
Year ended 31 January 2024
1. General information
The company is a private company limited by shares, registered in the UK. The address of the registered office is CraftyGX Limited, 5 One Pin Place Collum Green Road, Farnham Common, Slough Berkshire, United Kingdom, SL2 3AG.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
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.
Going concern
The company meets its day to day working capital requirements through the continued support of its shareholder for the foreseeable future, and at least 12 months from the date of signing these financial statements. On this basis the director considers that it is appropriate to prepare the financial statements on the going concern basis.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
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.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
tangible assets are initially recorded at cost, and are 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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Improvement to Leasehold Property - 10 % straight line
Fittings fixtures and equipment - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 12 (2023: 4 ).
5. Tangible assets
£
Cost
At 1 February 2023 32,940
Additions 25,324
_______
At 31 January 2024 58,264
_______
Depreciation
At 1 February 2023 4,074
Charge for the year 10,080
_______
At 31 January 2024 14,154
_______
Carrying amount
At 31 January 2024 44,110
_______
At 31 January 2023 28,866
_______
6. Called up share capital
Issued, called up and fully paid
31/01/24 31/01/23
No £ No £
Ordinary shares of £ 1.00 each 200 200 200 200
_______ _______ _______ _______
7. Operating leases
The company as lessee
The total future minimum lease payments under non-cancellable operating leases are as follows:
£ £
Not later than 1 year 56,400 51,400
Later than 1 year and not later than 5 years 282,000 282,000
Later than 5 years 167,600 224,000
_______ _______
506,000 557,400
_______ _______
8. Related party transactions
The directors have lent the company money to assist with the working capital requirements. As at 31 January 2024 company owes £44,974 (2023 : £34,228) to the Ms Peter Bridges, £52,250 (2023 : £16,250) to the Ms Meilute Bridges and £8,000 (2023 : £5,000) to the Mr Carl Quarterman.
9. Controlling party
The ultimate controlling parties are Mr Peter Bridges and Ms Meilute Bridges, who own majority of the issued share capital of the company.