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Registration number: 08723836

Cranbri Web Solutions Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 March 2024

 

Cranbri Web Solutions Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Cranbri Web Solutions Ltd

Company Information

Director

Mr Thomas Burman

Registered office

74 Kenilworth Drive
Gillingham
Kent
ME8 9EJ

 

Cranbri Web Solutions Ltd

(Registration number: 08723836)
Balance Sheet as at 30 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

2,527

1,792

Other financial assets

5

684

903

 

3,211

2,695

Current assets

 

Debtors

6

15,853

12,453

Cash at bank and in hand

 

9,522

197

 

25,375

12,650

Creditors: Amounts falling due within one year

7

(16,709)

(16,308)

Net current assets/(liabilities)

 

8,666

(3,658)

Total assets less current liabilities

 

11,877

(963)

Creditors: Amounts falling due after more than one year

7

(15,491)

(16,155)

Net liabilities

 

(3,614)

(17,118)

Capital and reserves

 

Called up share capital

8

10

10

Revaluation reserve

(1,663)

(722)

Retained earnings

(1,961)

(16,406)

Shareholders' deficit

 

(3,614)

(17,118)

For the financial year ending 30 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 8 October 2024
 

 

Cranbri Web Solutions Ltd

(Registration number: 08723836)
Balance Sheet as at 30 March 2024

.........................................
Mr Thomas Burman
Director

 

Cranbri Web Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
74 Kenilworth Drive
Gillingham
Kent
ME8 9EJ

These financial statements were authorised for issue by the director on 8 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

 

Cranbri Web Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 March 2024

Judgements

Judgements The company may be required to make estimates and assumptions concerning the future. These estimates and judgements are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The resulting accounting estimates will, by definition, seldom equal the related actual results. The principal areas where judgement was exercised are as follows:

i) Recoverability of trade debtors: the directors annually assess whether a bad debt provision is required for any bad or doubtful debtor balances.

ii) Tangible fixed assets: the directors annually assess both the residual value of these assets and the expected useful life of such assets based on experience.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

33.33% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Cranbri Web Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 March 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Cranbri Web Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 March 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 31 March 2023

12,425

12,425

Additions

2,955

2,955

At 30 March 2024

15,380

15,380

Depreciation

At 31 March 2023

10,633

10,633

Charge for the year

2,220

2,220

At 30 March 2024

12,853

12,853

Carrying amount

At 30 March 2024

2,527

2,527

At 30 March 2023

1,792

1,792

 

Cranbri Web Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 March 2024

5

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

At 31 March 2023

1,025

1,025

Revaluations

(941)

(941)

Additions

600

600

At 30 March 2024

684

684

Impairment

Carrying amount

At 30 March 2024

684

684

6

Debtors

Current

2024
£

2023
£

Trade debtors

6,811

60

Other debtors

9,042

12,393

 

15,853

12,453

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

3,818

6,949

Taxation and social security

 

11,891

7,499

Accruals and deferred income

 

1,000

1,250

Other creditors

 

-

610

 

16,709

16,308

 

Cranbri Web Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 March 2024

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

15,491

16,155

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

10

10

10

10

       

9

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on revaluation of other assets

(941)

(941)

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on revaluation of other assets

(722)

(722)

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

15,491

16,155

Current loans and borrowings

2024
£

2023
£

Bank borrowings

3,793

6,924

Bank overdrafts

25

25

3,818

6,949

 

Cranbri Web Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 March 2024

11

Related party transactions

Transactions with the director

2024

At 31 March 2023
£

Repayments by director
£

At 30 March 2024
£

Mr Thomas Burman

Directors loan account

(609)

609

-

2023

At 31 March 2022
£

Repayments by director
£

At 30 March 2023
£

Mr Thomas Burman

Directors loan account

27,824

(28,433)

(609)