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REGISTERED NUMBER: 04645509 (England and Wales)













CASTLE WELSH CRAFTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024






CASTLE WELSH CRAFTS LIMITED (REGISTERED NUMBER: 04645509)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


CASTLE WELSH CRAFTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: Mr. R W Rice
Mrs. C A Rice-Ward





REGISTERED OFFICE: 1 Castle Street
Cardiff
CF10 1BS





REGISTERED NUMBER: 04645509 (England and Wales)





ACCOUNTANTS: Carston ETL
Tudor House
16 Cathedral Road
Cardiff
CF11 9LJ

CASTLE WELSH CRAFTS LIMITED (REGISTERED NUMBER: 04645509)

STATEMENT OF FINANCIAL POSITION
31 JANUARY 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 5,565 8,337
Tangible assets 5 11,179 11,682
16,744 20,019

CURRENT ASSETS
Stocks 35,604 45,011
Cash at bank and in hand 167,939 112,209
203,543 157,220
CREDITORS
Amounts falling due within one year 6 157,068 167,812
NET CURRENT ASSETS/(LIABILITIES) 46,475 (10,592 )
TOTAL ASSETS LESS CURRENT LIABILITIES 63,219 9,427

CREDITORS
Amounts falling due after more than one year 7 - 8,296
NET ASSETS 63,219 1,131

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 63,119 1,031
SHAREHOLDERS' FUNDS 63,219 1,131

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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.

CASTLE WELSH CRAFTS LIMITED (REGISTERED NUMBER: 04645509)

STATEMENT OF FINANCIAL POSITION - continued
31 JANUARY 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 Board of Directors and authorised for issue on 24 January 2025 and were signed on its behalf by:





Mr. R W Rice - Director


CASTLE WELSH CRAFTS LIMITED (REGISTERED NUMBER: 04645509)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024


1. STATUTORY INFORMATION

Castle Welsh Crafts 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 2004, 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.

Website is being amortised evenly over its estimated useful life of four years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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 of current 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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 8 ) .

CASTLE WELSH CRAFTS LIMITED (REGISTERED NUMBER: 04645509)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


4. INTANGIBLE FIXED ASSETS
Goodwill Website Totals
£ £ £
COST
At 1 February 2023
and 31 January 2024 466,900 3,746 470,646
AMORTISATION
At 1 February 2023 458,650 3,659 462,309
Amortisation for year 2,750 22 2,772
At 31 January 2024 461,400 3,681 465,081
NET BOOK VALUE
At 31 January 2024 5,500 65 5,565
At 31 January 2023 8,250 87 8,337

5. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and
leasehold machinery fittings
£ £ £
COST
At 1 February 2023
and 31 January 2024 9,667 25,980 19,749
DEPRECIATION
At 1 February 2023 - 25,560 19,472
Charge for year - 105 69
At 31 January 2024 - 25,665 19,541
NET BOOK VALUE
At 31 January 2024 9,667 315 208
At 31 January 2023 9,667 420 277

CASTLE WELSH CRAFTS LIMITED (REGISTERED NUMBER: 04645509)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£ £ £
COST
At 1 February 2023
and 31 January 2024 13,666 55,644 124,706
DEPRECIATION
At 1 February 2023 13,621 54,371 113,024
Charge for year 11 318 503
At 31 January 2024 13,632 54,689 113,527
NET BOOK VALUE
At 31 January 2024 34 955 11,179
At 31 January 2023 45 1,273 11,682

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts - 10,000
Trade creditors 88,390 107,677
Taxation and social security 61,189 34,096
Other creditors 7,489 16,039
157,068 167,812

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£ £
Bank loans - 8,296

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 January 2024 and 31 January 2023:

2024 2023
£ £
Mr. R W Rice
Balance outstanding at start of year (11,641 ) (803 )
Amounts advanced 53,450 32,842
Amounts repaid (55,250 ) (43,680 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (13,441 ) (11,641 )

CASTLE WELSH CRAFTS LIMITED (REGISTERED NUMBER: 04645509)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Mrs. C A Rice-Ward
Balance outstanding at start of year (63 ) (288 )
Amounts advanced 39,647 23,500
Amounts repaid (29,750 ) (23,275 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 9,834 (63 )

The amounts owed by the directors to the company were repaid in full within nine months of the year end.