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Company registration number: 12479104
Stock Croc Ltd
Unaudited filleted abridged financial statements
31 August 2024
Stock Croc Ltd
Contents
Directors and other information
Accountants report
Abridged statement of financial position
Notes to the financial statements
Stock Croc Ltd
Directors and other information
Director Mr Joshua Watkins
Company number 12479104
Registered office 1 Shepperton Marina
Felix Lane
Shepperton
Middlesex
TW17 8NS
Accountants Alan James and Associates
1 Shepperton Marina
Felix Lane
Shepperton
Middlesex
TW17 8NS
Stock Croc Ltd
Chartered accountants report to the director on the preparation of the
unaudited statutory financial statements of Stock Croc Ltd
Period ended 31 August 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Stock Croc Ltd for the period ended 31 August 2024 which comprise the abridged statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the director of Stock Croc Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Stock Croc Ltd and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Stock Croc Ltd and its director as a body for our work or for this report.
It is your duty to ensure that Stock Croc Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Stock Croc Ltd. You consider that Stock Croc Ltd is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the financial statements of Stock Croc Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Alan James and Associates
Chartered Accountants
1 Shepperton Marina
Felix Lane
Shepperton
Middlesex
TW17 8NS
30 October 2024
Stock Croc Ltd
Abridged statement of financial position
31 August 2024
31/08/24 28/02/23
Note £ £ £ £
Fixed assets
Tangible assets 5 - 5,155
_______ _______
- 5,155
Current assets
Debtors - 110,995
Cash at bank and in hand 136,411 118,657
_______ _______
136,411 229,652
Creditors: amounts falling due
within one year ( 111,511) ( 164,237)
_______ _______
Net current assets 24,900 65,415
_______ _______
Total assets less current liabilities 24,900 70,570
Creditors: amounts falling due
after more than one year - ( 31,489)
_______ _______
Net assets 24,900 39,081
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 24,800 38,981
_______ _______
Shareholder funds 24,900 39,081
_______ _______
For the period ending 31 August 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 member has not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
- The director acknowledges 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 period ending 31 August 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 October 2024 , and are signed on behalf of the board by:
Mr Joshua Watkins
Director
Company registration number: 12479104
Stock Croc Ltd
Notes to the financial statements
Period ended 31 August 2024
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 1 Shepperton Marina, Felix Lane, Shepperton, Middlesex, TW17 8NS.
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.
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.
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:
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 .
Impairment
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. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company 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.
Debt instruments are subsequently measured at amortised cost.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 1 (2023: Nil).
5. Tangible assets
£
Cost
At 1 March 2023 10,584
Additions 1,249
Disposals ( 11,833)
_______
At 31 August 2024 -
_______
Depreciation
At 1 March 2023 5,429
Charge for the year 1,333
Disposals ( 6,762)
_______
At 31 August 2024 -
_______
Carrying amount
At 31 August 2024 -
_______
At 28 February 2023 5,155
_______
6. Directors advances, credits and guarantees
During the period the director entered into the following advances and credits with the company:
Period ended 31/08/24
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
Mr Joshua Watkins ( 17,768) 131,666 ( 183,986) ( 70,088)
_______ _______ _______ _______
Year ended 28/02/23
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
Mr Joshua Watkins - - - -
_______ _______ _______ _______