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REGISTERED NUMBER: 07751628 (England and Wales)















Financial Statements for the Period 1 October 2023 to 30 April 2024

for

Craft Property Limited

Craft Property Limited (Registered number: 07751628)






Contents of the Financial Statements
for the Period 1 October 2023 to 30 April 2024




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


Craft Property Limited

Company Information
for the Period 1 October 2023 to 30 April 2024







DIRECTOR: C D Woodcraft





REGISTERED OFFICE: Carrington-May Ltd
31 Walker Avenue
Wolverton Mill East
MK12 5TW





REGISTERED NUMBER: 07751628 (England and Wales)





ACCOUNTANTS: Carrington-May
Chartered Certified Accountants
31 Walker Avenue
Wolverton Mill East
Milton Keynes
Buckinghamshire
MK12 5TW

Craft Property Limited (Registered number: 07751628)

Abridged Statement of Financial Position
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,103,893 1,108,372

CURRENT ASSETS
Stocks - 3,947
Debtors 65,588 92,488
Cash at bank and in hand 14,172 9,222
79,760 105,657
CREDITORS
Amounts falling due within one year 75,381 294,009
NET CURRENT ASSETS/(LIABILITIES) 4,379 (188,352 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,108,272

920,020

CREDITORS
Amounts falling due after more than one
year

5

(1,000,165

)

(806,480

)

PROVISIONS FOR LIABILITIES (2,885 ) -
NET ASSETS 105,222 113,540

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 105,220 113,538
SHAREHOLDERS' FUNDS 105,222 113,540

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 April 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.

Craft Property Limited (Registered number: 07751628)

Abridged Statement of Financial Position - continued
30 April 2024


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

All the members have consented to the preparation of an abridged Income Statement and an abridged Statement of Financial Position for the period ended 30 April 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 3 January 2025 and were signed by:





C D Woodcraft - Director


Craft Property Limited (Registered number: 07751628)

Notes to the Financial Statements
for the Period 1 October 2023 to 30 April 2024

1. STATUTORY INFORMATION

Craft Property 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.

Based upon the trading of the business, together with the continued support of the directors and the fact that the company meets all of its liabilities as they fall due, the directors consider that the going concern basis of preparation to be appropriate.

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

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 - 25% on cost
Fixtures and fittings - 15% on cost
Computer equipment - 33% on cost

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 period 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 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 period 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.

Craft Property Limited (Registered number: 07751628)

Notes to the Financial Statements - continued
for the Period 1 October 2023 to 30 April 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 5 (2023 - 9 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 October 2023 1,405,312
Additions 14,830
Disposals (70,940 )
At 30 April 2024 1,349,202
DEPRECIATION
At 1 October 2023 296,940
Charge for period 16,656
Eliminated on disposal (68,287 )
At 30 April 2024 245,309
NET BOOK VALUE
At 30 April 2024 1,103,893
At 30 September 2023 1,108,372

The directors consider the freehold property to be valued at 'fair value'. The basis of determining the fair value is that the property was acquired for the value as disclosed in the balance sheet on 16 December 2016. On this basis the freehold land and buildings has not been depreciated.

5. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
2024 2023
£    £   
Repayable by instalments
Bank loans more 5 yr by instal 848,175 806,480

6. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 871,150 889,147
Hire purchase contracts 11,947 -
883,097 889,147

The bank loans are secured by a charge over the freehold property. The hire purchase liabilities are secured by the assets financed.

7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date the sum of £150,834 (2023 - £150,493) was owed by the company to the directors. £150,834 was the maximum amount outstanding during the period. No interest has been paid or accrued on the sum outstanding.