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REGISTERED NUMBER: 06823683 (England and Wales)














Unaudited Financial Statements

for the Year Ended 29 February 2024

for

Croft Group UK Limited

Croft Group UK Limited (Registered number: 06823683)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

Croft Group UK Limited

Company Information
for the Year Ended 29 February 2024







DIRECTOR: C C Martin





SECRETARY: K E Martin





REGISTERED OFFICE: 26 Hadham Road
Bishops Stortford
Hertfordshire
CM23 2QS





REGISTERED NUMBER: 06823683 (England and Wales)





ACCOUNTANTS: Lanham and Company Limited
Chartered Accountants
9 Great Chesterford Court
London Road
Great Chesterford
Essex
CB10 1PF

Croft Group UK Limited (Registered number: 06823683)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 22,798 10,715

CURRENT ASSETS
Debtors 5 699,093 259,681
Cash at bank and in hand 153,281 148,099
852,374 407,780
CREDITORS
Amounts falling due within one year 6 1,157,372 638,184
NET CURRENT LIABILITIES (304,998 ) (230,404 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(282,200

)

(219,689

)

CREDITORS
Amounts falling due after more than one
year

7

13,864

23,990
NET LIABILITIES (296,064 ) (243,679 )

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings (296,164 ) (243,779 )
SHAREHOLDERS' FUNDS (296,064 ) (243,679 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Croft Group UK Limited (Registered number: 06823683)

Balance Sheet - continued
29 February 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 director and authorised for issue on 20 November 2024 and were signed by:





C C Martin - Director


Croft Group UK Limited (Registered number: 06823683)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Croft Group UK 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.

Going concern
The company continues to rely on the support of its directors and related parties and it is expected that this support will continue for the foreseeable future. The company has now acquired new sites for development and expects to return profits over the next few years. Having taken this into consideration the directors have reached a conclusion that the company is able to manage its business risk and have therefore continued to adopt the going concern basis of accounting in preparing these financial statements.

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

Revenue from the rendering of services is only recognised when the outcome of a transaction can be estimated reliably and is then recognised according to the stage of completion of the transaction at the end of the reporting period.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost, 25% on cost and 25% on reducing balance

Financial instruments
Financial assets and liabilities are recognised when the company becomes a party to the contractual provisions of the instrument.

Trade debtors and creditors are classed as basic financial instruments and are initially measured at transaction price.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and short-term deposits with an original maturity date of three months or less.

Loans and borrowings are classified as basic financial instruments and are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a financing transaction it is measured at the present value of future payments discounted at a market rate of interest for a similar debt instrument, unless exempt from such treatment.

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.


Croft Group UK Limited (Registered number: 06823683)

Notes to the Financial Statements - continued
for the Year Ended 29 February 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.

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 NIL (2023 - 6 ).

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2023 133,616
Additions 20,218
At 29 February 2024 153,834
DEPRECIATION
At 1 March 2023 122,901
Charge for year 8,135
At 29 February 2024 131,036
NET BOOK VALUE
At 29 February 2024 22,798
At 28 February 2023 10,715

5. DEBTORS
29.2.24 28.2.23
£    £   
Amounts falling due within one year:
Trade debtors 201,399 -
Amounts recoverable on contract 193,100 -
Other debtors 239,553 206,919
634,052 206,919

Amounts falling due after more than one year:
Other debtors 65,041 52,762

Aggregate amounts 699,093 259,681

Croft Group UK Limited (Registered number: 06823683)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

5. DEBTORS - continued

Deferred tax asset
29.2.24 28.2.23
£    £   
Accelerated capital allowances 50,466 (2,036 )
Tax losses carried forward 14,575 54,798
65,041 52,762

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts 10,139 9,889
Payments on account 99,800 -
Trade creditors 28,787 1,109
Taxation and social security 8,963 1,394
Other creditors 1,009,683 625,792
1,157,372 638,184

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Bank loans 13,864 23,990

8. DEFERRED TAX
£   
Balance at 1 March 2023 (52,762 )
Credit to Statement of Income and Retained Earnings during year (12,279 )
Balance at 29 February 2024 (65,041 )

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.2.24 28.2.23
value: £    £   
100 Ordinary £1 100 100

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year advances were made to directors of £24,295 (2023: £Nil) and at the year end the balance owed to the company by the directors was £24,295 (2023: £Nil).

11. ULTIMATE CONTROLLING PARTY

The controlling party is C C Martin.

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Croft Group UK Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Croft Group UK Limited for the year ended 29 February 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Croft Group UK Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Croft Group UK Limited and state those matters that we have agreed to state to the director of Croft Group UK Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Croft Group UK Limited and its director for our work or for this report.

It is your duty to ensure that Croft Group UK Limited 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 loss of Croft Group UK Limited. You consider that Croft Group UK Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Croft Group UK Limited. 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.






Lanham and Company Limited
Chartered Accountants
9 Great Chesterford Court
London Road
Great Chesterford
Essex
CB10 1PF


20 November 2024