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Registration number: 11968908

Crabpots UK Limited

Filleted Unaudited Financial Statements

for the Year Ended 30 April 2024

 

Crabpots UK Limited
(Registration number: 11968908)

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Crabpots UK Limited
(Registration number: 11968908)

Company Information

Director

Michael M Hill

Registered office

1 Colleton Crescent
Exeter
Devon
EX2 4DG

Accountants

Thompson Jenner LLP
Chartered Accountants
1 Colleton Crescent
Exeter
Devon
EX2 4DG

 

Crabpots UK Limited
(Registration number: 11968908)

Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

25,829

21,198

Current assets

 

Stocks

5

35,500

35,500

Debtors

6

15,510

2,512

Cash at bank and in hand

 

13,417

25,184

 

64,427

63,196

Creditors: Amounts falling due within one year

7

(140,047)

(127,936)

Net current liabilities

 

(75,620)

(64,740)

Net liabilities

 

(49,791)

(43,542)

Capital and reserves

 

Called up share capital

1

1

Profit and loss account

(49,792)

(43,543)

Total equity

 

(49,791)

(43,542)

 

Crabpots UK Limited
(Registration number: 11968908)

Balance Sheet as at 30 April 2024

For the financial 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.

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 their 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 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 19 November 2024
 

.........................................
Michael M Hill
Director

 

Crabpots UK Limited
(Registration number: 11968908)

Notes to the Unaudited Financial Statements for the Year Ended 30 April 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:
1 Colleton Crescent
Exeter
Devon
EX2 4DG

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. The director continues to support the company and considers that the business will be able to meet its financial obligations when they fall due

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 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.

 

Crabpots UK Limited
(Registration number: 11968908)

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

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

Motor Vehicles

20% straight line

Plant and machinery

10% straight line

Fixtures and Fittings

10% straight line

Office equipment

33.33% straight line

Leasehold Improvements

10% 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.

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.

Stocks

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.

 

Crabpots UK Limited
(Registration number: 11968908)

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

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.

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.

3

Staff numbers

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

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 May 2023

4,276

1,937

17,162

2,598

25,973

Additions

2,893

1,052

-

5,791

9,736

At 30 April 2024

7,169

2,989

17,162

8,389

35,709

Depreciation

At 1 May 2023

178

154

4,223

220

4,775

Charge for the year

524

372

3,432

777

5,105

At 30 April 2024

702

526

7,655

997

9,880

Carrying amount

At 30 April 2024

6,467

2,463

9,507

7,392

25,829

At 30 April 2023

4,098

1,783

12,939

2,378

21,198

Included within the net book value of land and buildings above is £6,467 (2023 - £4,098) in respect of short leasehold land and buildings.
 

 

Crabpots UK Limited
(Registration number: 11968908)

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

5

Stocks

2024
£

2023
£

Other stocks

35,500

35,500

6

Debtors

2024
£

2023
£

Trade debtors

14,677

-

Prepayments and accrued income

833

2,512

Total current trade and other debtors

15,510

2,512

7

Creditors

2024
£

2023
£

Due within one year

Trade creditors

1,450

17,524

Taxation and social security

3,374

5,568

Other creditors

132,623

102,364

Accrued expenses

2,600

2,480

140,047

127,936