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REGISTERED NUMBER: 02803578 (England and Wales)



















CROFT PRINTING LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024






CROFT PRINTING LIMITED (REGISTERED NUMBER: 02803578)

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










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


CROFT PRINTING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: Mr I Briggs
Mrs M A Briggs





SECRETARY: Mrs M A Briggs





REGISTERED OFFICE: 81 Burton Road
Derby
Derbyshire
DE1 1TJ





REGISTERED NUMBER: 02803578 (England and Wales)





ACCOUNTANTS: Johnson Tidsall Limited
Chartered Accountants
81 Burton Road
Derby
Derbyshire
DE1 1TJ

CROFT PRINTING LIMITED (REGISTERED NUMBER: 02803578)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 167,000 208,750
Tangible assets 5 116,404 137,878
283,404 346,628

CURRENT ASSETS
Stocks 6 24,047 26,154
Debtors 7 120,475 106,619
Cash at bank and in hand 41,582 131,753
186,104 264,526
CREDITORS
Amounts falling due within one year 8 133,182 145,834
NET CURRENT ASSETS 52,922 118,692
TOTAL ASSETS LESS CURRENT LIABILITIES 336,326 465,320

CREDITORS
Amounts falling due after more than one year 9 (186,639 ) (209,709 )

PROVISIONS FOR LIABILITIES (24,692 ) (24,692 )
NET ASSETS 124,995 230,919

CAPITAL AND RESERVES
Called up share capital 10 2 2
Retained earnings 124,993 230,917
SHAREHOLDERS' FUNDS 124,995 230,919

CROFT PRINTING LIMITED (REGISTERED NUMBER: 02803578)

BALANCE SHEET - continued
29 FEBRUARY 2024


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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 November 2024 and were signed on its behalf by:





Mr I Briggs - Director


CROFT PRINTING LIMITED (REGISTERED NUMBER: 02803578)

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


1. STATUTORY INFORMATION

Croft Printing 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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on cost

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
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 PRINTING LIMITED (REGISTERED NUMBER: 02803578)

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Grant income
Grants are recognised as income over the life of the assets to which they relate. Grants are received in relation to Plant & Machinery which is depreciated at a rate of 15% reducing balance.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2023
and 29 February 2024 835,000
AMORTISATION
At 1 March 2023 626,250
Charge for year 41,750
At 29 February 2024 668,000
NET BOOK VALUE
At 29 February 2024 167,000
At 28 February 2023 208,750

CROFT PRINTING LIMITED (REGISTERED NUMBER: 02803578)

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


5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 March 2023
and 29 February 2024 71,309 285,758 18,254 18,473 393,794
DEPRECIATION
At 1 March 2023 64,355 159,991 13,101 18,473 255,920
Charge for year 1,832 18,865 773 - 21,470
At 29 February 2024 66,187 178,856 13,874 18,473 277,390
NET BOOK VALUE
At 29 February 2024 5,122 106,902 4,380 - 116,404
At 28 February 2023 6,954 125,767 5,153 - 137,874

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.

6. STOCKS
2024 2023
£    £   
Raw materials 24,047 26,154

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 25,608 30,183
Other debtors 92,000 74,000
Directors' current accounts 2,305 -
Prepayments and accrued income 562 2,436
120,475 106,619

CROFT PRINTING LIMITED (REGISTERED NUMBER: 02803578)

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


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 31,168 31,168
Trade creditors 42,850 32,208
Corporation tax - 8,478
Social security and other taxes 2,696 2,806
VAT 4,180 10,829
Other creditors 10,358 10,381
Directors' current accounts - 691
Accruals and deferred income 41,930 49,273
133,182 145,834

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 9,941 9,941
Bank loans - 2-5 years 10,981 20,922
Bank loans >5 yr (instalments) 165,717 178,846
186,639 209,709

Amounts falling due in more than five years:

Repayable by instalments
Bank loans >5 yr (instalments) 165,717 178,846

10. CALLED UP SHARE CAPITAL

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