1 false false false false false false false false false false true false false false false false false No description of principal activity 2023-02-01 Sage Accounts Production Advanced 2023 - FRS102_2023 26,402 24,241 216 24,457 1,945 2,161 xbrli:pure xbrli:shares iso4217:GBP 02900480 2023-02-01 2024-01-31 02900480 2024-01-31 02900480 2023-01-31 02900480 2022-02-01 2023-01-31 02900480 2023-01-31 02900480 2022-01-31 02900480 core:FurnitureFittings 2023-02-01 2024-01-31 02900480 bus:Director1 2023-02-01 2024-01-31 02900480 core:FurnitureFittings 2023-01-31 02900480 core:FurnitureFittings 2024-01-31 02900480 core:WithinOneYear 2024-01-31 02900480 core:WithinOneYear 2023-01-31 02900480 core:AfterOneYear 2024-01-31 02900480 core:AfterOneYear 2023-01-31 02900480 core:ShareCapital 2024-01-31 02900480 core:ShareCapital 2023-01-31 02900480 core:RetainedEarningsAccumulatedLosses 2024-01-31 02900480 core:RetainedEarningsAccumulatedLosses 2023-01-31 02900480 core:FurnitureFittings 2023-01-31 02900480 bus:SmallEntities 2023-02-01 2024-01-31 02900480 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 02900480 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 02900480 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 02900480 bus:FullAccounts 2023-02-01 2024-01-31 02900480 core:EntitiesControlledByKeyManagementPersonnel 2023-02-01 2024-01-31
COMPANY REGISTRATION NUMBER: 02900480
JAMES CROWTHER FABRICS LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 January 2024
JAMES CROWTHER FABRICS LIMITED
STATEMENT OF FINANCIAL POSITION
31 January 2024
2024
2023
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
1,945
2,161
CURRENT ASSETS
Stocks
36,706
96,350
Debtors
6
72,505
50,673
Cash at bank and in hand
23,095
37,451
----------
----------
132,306
184,474
CREDITORS: amounts falling due within one year
7
47,790
48,921
----------
----------
NET CURRENT ASSETS
84,516
135,553
---------
----------
TOTAL ASSETS LESS CURRENT LIABILITIES
86,461
137,714
CREDITORS: amounts falling due after more than one year
8
14,196
16,704
PROVISIONS
Taxation including deferred tax
368
411
---------
----------
NET ASSETS
71,897
120,599
---------
----------
JAMES CROWTHER FABRICS LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 January 2024
2024
2023
Note
£
£
£
£
CAPITAL AND RESERVES
Called up share capital
2,000
2,000
Profit and loss account
69,897
118,599
---------
----------
SHAREHOLDER FUNDS
71,897
120,599
---------
----------
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 statement of income and retained earnings has not been delivered.
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 member has 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 were approved by the board of directors and authorised for issue on 22 July 2024 , and are signed on behalf of the board by:
Mr J. W. Crowther
Director
Company registration number: 02900480
JAMES CROWTHER FABRICS 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 England and Wales. The address of the registered office is 36 Cross Lane, Stocksmoor, Huddersfield, West Yorkshire, HD4 6XH.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is the amount derived from ordinary activities, and stated after trade discounts, other sales taxes and net of VAT.
Current and deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and 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.
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:
Fixtures & fittings
-
10% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
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 stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. 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 .
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. TANGIBLE ASSETS
Fixtures and fittings
Total
£
£
Cost
At 1 February 2023 and 31 January 2024
26,402
26,402
---------
---------
Depreciation
At 1 February 2023
24,241
24,241
Charge for the year
216
216
---------
---------
At 31 January 2024
24,457
24,457
---------
---------
Carrying amount
At 31 January 2024
1,945
1,945
---------
---------
At 31 January 2023
2,161
2,161
---------
---------
6. DEBTORS
2024
2023
£
£
Trade debtors
61,948
48,596
Other debtors
10,557
2,077
---------
---------
72,505
50,673
---------
---------
7. CREDITORS: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
2,621
2,734
Trade creditors
39,821
30,322
Corporation tax
8,528
Social security and other taxes
114
Other creditors
5,348
7,223
---------
---------
47,790
48,921
---------
---------
8. CREDITORS: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
14,196
16,704
---------
---------
9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES
During the year the director had an unsecured interest free loan with the company. The loan account was in credit throughout the year and is repayable on demand.
10. RELATED PARTY TRANSACTIONS
The company operates from buildings owned by the director for which no rent has been paid.