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REGISTERED NUMBER: 04671233 (England and Wales)















CROFTON CONSTRUCTION LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024






CROFTON CONSTRUCTION LIMITED (REGISTERED NUMBER: 04671233)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 5

Accountants' Report 6

CROFTON CONSTRUCTION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: D Evans
Mrs J Evans





SECRETARY: Mrs J Evans





REGISTERED OFFICE: 53 Pitts Road
Washingborough
Lincoln
Lincolnshire
LN4 1BH





REGISTERED NUMBER: 04671233 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
18 Northgate
Sleaford
Lincolnshire
NG34 7BJ

CROFTON CONSTRUCTION LIMITED (REGISTERED NUMBER: 04671233)

STATEMENT OF FINANCIAL POSITION
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,814 3,611

CURRENT ASSETS
Stocks 341,488 528,505
Debtors 5 598 379
Cash at bank 228,646 16,215
570,732 545,099
CREDITORS
Amounts falling due within one year 6 172,221 243,849
NET CURRENT ASSETS 398,511 301,250
TOTAL ASSETS LESS CURRENT LIABILITIES 401,325 304,861

CREDITORS
Amounts falling due after more than one year 7 9,334 16,333
NET ASSETS 391,991 288,528

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings 391,989 288,526
SHAREHOLDERS' FUNDS 391,991 288,528

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 directors acknowledge their 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.

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 Board of Directors and authorised for issue on 29 November 2024 and were signed on its behalf by:





D Evans - Director


CROFTON CONSTRUCTION LIMITED (REGISTERED NUMBER: 04671233)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Crofton Construction 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

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

Turnover is recognised on the sale of land and houses when the risks and rewards of the underlying sale have been substantially transferred to the customer, which is upon the exchange of contracts.

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 reducing balance, 25% on reducing balance and 15% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks
The valuation is prepared in accordance with FRS102 and is valued at the lower of cost and fair value less costs to complete and sell. Cost, in the case of land, includes legal fees and other expenses incurred in acquisition. Work in progress includes the cost of materials and labour to date, and a fair level of profit on long term contracts is recognised. Consideration has been given to the current housing market and, where appropriate, the net realisable values of the developments have been used rather than the cost.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

CROFTON CONSTRUCTION LIMITED (REGISTERED NUMBER: 04671233)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2023
and 29 February 2024 15,670
DEPRECIATION
At 1 March 2023 12,059
Charge for year 797
At 29 February 2024 12,856
NET BOOK VALUE
At 29 February 2024 2,814
At 28 February 2023 3,611

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 598 379

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 11,187 7,000
Trade creditors 31,485 4,253
Taxation and social security 41,403 6,136
Other creditors 88,146 226,460
172,221 243,849

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 9,334 16,333

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1 2 2

CROFTON CONSTRUCTION LIMITED (REGISTERED NUMBER: 04671233)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 29 February 2024 and 28 February 2023:

2024 2023
£    £   
D Evans and Mrs J Evans
Balance outstanding at start of year (179,270 ) (184,530 )
Amounts advanced 113,845 40,512
Amounts repaid (10,259 ) (35,252 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (75,684 ) (179,270 )

The above loans are unsecured and repayable on demand, with interest being charged at the official rate.

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
CROFTON CONSTRUCTION LIMITED

The following reproduces the text of the report prepared for the directors 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 Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors 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 Crofton Construction Limited for the year ended 29 February 2024 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Crofton Construction Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Crofton Construction Limited and state those matters that we have agreed to state to the Board of Directors of Crofton Construction Limited, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Crofton Construction 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 profit of Crofton Construction Limited. You consider that Crofton Construction 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 Crofton Construction 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.






Duncan & Toplis Limited
18 Northgate
Sleaford
Lincolnshire
NG34 7BJ


29 November 2024