Company Registration No. 02946308 (England and Wales)
Delcraven Limited
Unaudited accounts
for the year ended 30 April 2024
Delcraven Limited
Unaudited accounts
Contents
Delcraven Limited
Company Information
for the year ended 30 April 2024
Directors
Sandra Bayley
Wayne Bayley
Company Number
02946308 (England and Wales)
Registered Office
1 Bayley Paddock
Mill Lane
Littleworth
RH13 8JU
Delcraven Limited
Statement of financial position
as at 30 April 2024
Tangible assets
1,848
39,246
Inventories
137,390
373,658
Cash at bank and in hand
31,530
1,704
Creditors: amounts falling due within one year
(591,193)
(437,968)
Net current liabilities
(414,875)
(55,737)
Total assets less current liabilities
(413,027)
(16,491)
Creditors: amounts falling due after more than one year
(35,130)
(377,000)
Net liabilities
(448,157)
(393,491)
Called up share capital
2
2
Profit and loss account
(448,159)
(393,493)
Shareholders' funds
(448,157)
(393,491)
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 1 October 2024 and were signed on its behalf by
Wayne Bayley
Director
Company Registration No. 02946308
Delcraven Limited
Notes to the Accounts
for the year ended 30 April 2024
Delcraven Limited is a private company, limited by shares, registered in England and Wales, registration number 02946308. The registered office is 1 Bayley Paddock, Mill Lane, Littleworth, RH13 8JU.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Revenue, described as turnover is the 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.
Tangible fixed assets and depreciation
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent
accumulated impairment losses.
Depreciation is charged so as to write off the cost of the assets, other than land and properties under construction over their estimated useful lives, as follows:
Plant & machinery
25% reducing balance
Fixtures & fittings
25% reducing balance
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
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.
Delcraven Limited
Notes to the Accounts
for the year ended 30 April 2024
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 May 2023
49,584
3,538
53,122
Disposals
(36,783)
-
(36,783)
At 30 April 2024
12,801
3,538
16,339
At 1 May 2023
10,607
3,269
13,876
Charge for the year
548
67
615
At 30 April 2024
11,155
3,336
14,491
At 30 April 2024
1,646
202
1,848
At 30 April 2023
38,977
269
39,246
Amounts falling due within one year
Amounts due from group undertakings etc.
5,999
5,062
6
Creditors: amounts falling due within one year
2024
2023
Trade creditors
3,563
4,287
Taxes and social security
1,846
6,372
Loans from directors
584,784
426,309
7
Creditors: amounts falling due after more than one year
2024
2023
8
Transactions with related parties
Interest is not being charged on a related party loan of £584,784 (2023: £426,308) included within creditors. The balance is repayable on demand.
9
Average number of employees
During the year the average number of employees was 0 (2023: 0).