1 01/03/2023 28/02/2024 2024-02-28 false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2023-03-01 Sage Accounts Production 23.0 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 13209621 2023-03-01 2024-02-28 13209621 2024-02-28 13209621 2023-02-28 13209621 2022-03-01 2023-02-28 13209621 2023-02-28 13209621 2022-02-28 13209621 core:PlantMachinery 2023-03-01 2024-02-28 13209621 core:MotorVehicles 2023-03-01 2024-02-28 13209621 bus:Director1 2023-03-01 2024-02-28 13209621 core:PlantMachinery 2023-02-28 13209621 core:MotorVehicles 2023-02-28 13209621 core:PlantMachinery 2024-02-28 13209621 core:MotorVehicles 2024-02-28 13209621 core:WithinOneYear 2024-02-28 13209621 core:WithinOneYear 2023-02-28 13209621 core:ShareCapital 2024-02-28 13209621 core:ShareCapital 2023-02-28 13209621 core:RetainedEarningsAccumulatedLosses 2024-02-28 13209621 core:RetainedEarningsAccumulatedLosses 2023-02-28 13209621 core:PlantMachinery 2023-02-28 13209621 core:MotorVehicles 2023-02-28 13209621 bus:SmallEntities 2023-03-01 2024-02-28 13209621 bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-28 13209621 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-28 13209621 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-28 13209621 bus:FullAccounts 2023-03-01 2024-02-28
Company registration number: 13209621
Craven Solutions Ltd
Unaudited filleted financial statements
28 February 2024
Craven Solutions Ltd
Contents
Statement of financial position
Notes to the financial statements
Craven Solutions Ltd
Statement of financial position
28 February 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 26,943 33,815
_______ _______
26,943 33,815
Current assets
Debtors 6 3,080 2,818
Cash at bank and in hand 715 18,491
_______ _______
3,795 21,309
Creditors: amounts falling due
within one year 7 ( 1,585) ( 4,827)
_______ _______
Net current assets 2,210 16,482
_______ _______
Total assets less current liabilities 29,153 50,297
Provisions for liabilities ( 5,749) ( 6,425)
_______ _______
Net assets 23,404 43,872
_______ _______
Capital and reserves
Called up share capital 10 10
Profit and loss account 23,394 43,862
_______ _______
Shareholders funds 23,404 43,872
_______ _______
For the year ending 28 February 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 financial statements for the year 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 statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 22 October 2024 , and are signed on behalf of the board by:
Mr Jason Glover
Director
Company registration number: 13209621
Craven Solutions Ltd
Notes to the financial statements
Year ended 28 February 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 The Four Columns, Broughton Hall Business Park, Skipton, North Yorks, BD23 3AE.
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 the services rendered, net of discounts and Value Added Tax.Revenue from the provision of services is recognised in the period in which the services are provided when all of the following conditions are satisfied; the amount of revenue can be measured reliably; it is probable that the economic benefits associated with the transaction will flow to the entity; the stage of completion of the transaction at the end of the reporting period can be measured reliably and the costs incurred and costs to complete the transaction can be measured reliably.
Taxation
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.Tax deferred or accelerated is accounted for in respect of all material timing differences, in particular accelerated capital allowances and revaluation gains on investment properties. All deferred tax is charged/(credited) to the Statement of Income and Retained Earnings.
Tangible assets
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation and any accumulated 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:
Plant and machinery - 15 % reducing balance
Motor vehicles - 25 % reducing balance
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.
Provisions
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in a settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.
Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank loans and directors' loans.Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method. Directors' loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
Plant and machinery Motor vehicles Total
£ £ £
Cost
At 1 March 2023 and 28 February 2024 20,272 29,100 49,372
_______ _______ _______
Depreciation
At 1 March 2023 4,453 11,104 15,557
Charge for the year 2,373 4,499 6,872
_______ _______ _______
At 28 February 2024 6,826 15,603 22,429
_______ _______ _______
Carrying amount
At 28 February 2024 13,446 13,497 26,943
_______ _______ _______
At 28 February 2023 15,819 17,996 33,815
_______ _______ _______
6. Debtors
2024 2023
£ £
Other debtors 3,080 2,818
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Other creditors 1,585 4,827
_______ _______