Company registration number 04677000 (England and Wales)
CRADLEY LIMITED
Unaudited financial statements
For the year ended 29 February 2024
Pages for filing with registrar
CRADLEY LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
CRADLEY LIMITED
BALANCE SHEET
As at 29 February 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
3
1,213
400
Cash at bank and in hand
1,242
42,264
2,455
42,664
Creditors: amounts falling due within one year
4
(2,426)
(1,550)
Net current assets
29
41,114
Net assets
29
41,114
Capital and reserves
Called up share capital
5
2
2
Profit and loss reserves
27
41,112
Total equity
29
41,114

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved and signed by the director and authorised for issue on 22 November 2024
A J McIntyre
Director
Company Registration No. 04677000
CRADLEY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 29 February 2024
- 2 -
1
Accounting policies
Company information

Cradley Limited is a private company limited by shares incorporated in England and Wales. The registered office is Connect House, 133-137 Alexandra Road, Wimbledon, London, SW19 7JY.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

As a result of market conditions, the company does not currently have a contract of service. Hence, the company has temporarily ceased trading.true

 

The director still considers the company a going concern, as the company has adequate resources to continue in operational existence for the foreseeable future and, when market conditions improve, the company will recommence trading and take on new contracts.

1.3
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.4
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

CRADLEY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 29 February 2024
1
Accounting policies
(Continued)
- 3 -
Basic financial liabilities

Basic financial liabilities, including trade and other payables, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

1.5
Taxation

The tax expense represents the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 0 (2023 - 0).

3
Debtors
2024
2023
Amounts falling due within one year:
£
£
Corporation tax recoverable
-
0
400
Other debtors
1,213
-
0
1,213
400
4
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
1,213
-
0
Other creditors
1,213
1,550
2,426
1,550
5
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
2
2
2
2
CRADLEY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 29 February 2024
- 4 -
6
Directors' transactions

During the year the company advanced the director £1,213 (2023 - £nil). The £1,213 advance was still owed at the end of the year. The advance is unsecured, interest free and repayable on demand.

 

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