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REGISTERED NUMBER: 04444823 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 May 2024

for

Croots Limited

Croots Limited (Registered number: 04444823)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Croots Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: A Croot
Mrs J Croot





REGISTERED OFFICE: 30 Yorkersgate
Malton
North Yorkshire
YO17 7AW





REGISTERED NUMBER: 04444823 (England and Wales)





ACCOUNTANTS: Hardcastle France
Chartered Accountants
30 Yorkersgate
Malton
North Yorkshire
YO17 7AW

Croots Limited (Registered number: 04444823)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 12,703 12,995
12,703 12,995

CURRENT ASSETS
Stocks 592,451 553,865
Debtors 6 281,516 179,990
Cash at bank and in hand 286,425 440,070
1,160,392 1,173,925
CREDITORS
Amounts falling due within one year 7 129,083 213,839
NET CURRENT ASSETS 1,031,309 960,086
TOTAL ASSETS LESS CURRENT LIABILITIES 1,044,012 973,081

CREDITORS
Amounts falling due after more than one
year

8

(10,948

)

(20,919

)

PROVISIONS FOR LIABILITIES (3,114 ) (2,461 )
NET ASSETS 1,029,950 949,701

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings 1,029,948 949,699
SHAREHOLDERS' FUNDS 1,029,950 949,701

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Croots Limited (Registered number: 04444823)

Balance Sheet - continued
31 May 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 October 2024 and were signed on its behalf by:





A Croot - Director


Croots Limited (Registered number: 04444823)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Croots Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of business in 2002, 2003 and 2007 has been written down to £Nil in previous years.

Intellectual Property, being trademark related costs, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 25% on reducing balance
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 33.33% on cost
Computer equipment - 20% on cost

Stocks
Stocks are valued at the lower end of cost or net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Croots Limited (Registered number: 04444823)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 13 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 June 2023
and 31 May 2024 135,787 5,570 141,357
AMORTISATION
At 1 June 2023
and 31 May 2024 135,787 5,570 141,357
NET BOOK VALUE
At 31 May 2024 - - -
At 31 May 2023 - - -

Croots Limited (Registered number: 04444823)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 June 2023 20,841 156,951 20,163 42,593 240,548
Additions - 3,942 - - 3,942
At 31 May 2024 20,841 160,893 20,163 42,593 244,490
DEPRECIATION
At 1 June 2023 20,543 144,254 20,163 42,593 227,553
Charge for year 74 4,160 - - 4,234
At 31 May 2024 20,617 148,414 20,163 42,593 231,787
NET BOOK VALUE
At 31 May 2024 224 12,479 - - 12,703
At 31 May 2023 298 12,697 - - 12,995

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 150,238 159,867
Other debtors 30,881 -
Directors' current accounts 89,728 -
VAT 10,669 20,123
281,516 179,990

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,648 10,648
Trade creditors 33,741 102,632
Tax 75,839 34,667
Other creditors 4,278 5,322
Directors' current accounts - 52,120
Accrued expenses 4,577 8,450
129,083 213,839

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 10,648 10,648
Bank loans - 2-5 years 300 10,271
10,948 20,919

Croots Limited (Registered number: 04444823)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary 1 2 2

10. RELATED PARTY DISCLOSURES

During the financial year the company rented premises owned jointly by the directors, Mr A and Mrs J Croot. Rent totalling £25,000 (2023: £28,250) was paid. These transactions occurred during the normal course of business at 65% of market value (2023: 65%).

Dividends paid to directors during the financial year were:

A Croot, director: £30,000 (2023: £60,000)
Mrs J Croot, director : £30,000 (2023: £60,000)

The directors have borrowed funding from the company by means of a directors' loan account which, at the year end amounted to £89,728 and is included in other debtors. Last year the company owed the directors £52,121and was included in other creditors. Interest was charged on the loan in the year at a commercial rate. There are no conditions on the loan.

11. ULTIMATE CONTROLLING PARTY

The company is controlled by Mr A and Mrs J Croot by virtue of their controlling shareholding.