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Registration number: 12327320

Craftily Bars & Events Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2024

 

Craftily Bars & Events Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Craftily Bars & Events Ltd

Company Information

Director

Mr B G Pike

Registered office

Office, 31 Cattle Market Street
Norwich
Norfolk
NR1 3DY

Accountants

Perk Accounting Ltd Office, 31 Cattle Market Street
Norwich
Norfolk
NR1 3DY

 

Craftily Bars & Events Ltd

(Registration number: 12327320)
Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

19,600

12,929

Current assets

 

Stocks

5

480

350

Debtors

33

33

Cash at bank and in hand

 

7,953

3,933

 

8,466

4,316

Creditors: Amounts falling due within one year

6

(11,980)

(10,931)

Net current liabilities

 

(3,514)

(6,615)

Total assets less current liabilities

 

16,086

6,314

Creditors: Amounts falling due after more than one year

6

(14,600)

(9,333)

Provisions for liabilities

(1,163)

(126)

Net assets/(liabilities)

 

323

(3,145)

Capital and reserves

 

Called up share capital

1

1

Capital redemption reserve

1

1

Retained earnings

321

(3,147)

Shareholders' funds/(deficit)

 

323

(3,145)

For the financial year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 2 February 2025
 

.........................................

Mr B G Pike
Director

 

Craftily Bars & Events Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Office, 31 Cattle Market Street
Norwich
Norfolk
NR1 3DY

These financial statements were authorised for issue by the director on 2 February 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Craftily Bars & Events Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

5 years straight line

Motor vehicles

4 years straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Craftily Bars & Events Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 2).

4

tangible assets

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 December 2023

2,250

21,547

23,797

Additions

15,095

335

15,430

Disposals

(2,250)

-

(2,250)

At 30 November 2024

15,095

21,882

36,977

Depreciation

At 1 December 2023

1,642

9,226

10,868

Charge for the year

4,337

4,377

8,714

Eliminated on disposal

(2,205)

-

(2,205)

At 30 November 2024

3,774

13,603

17,377

Carrying amount

At 30 November 2024

11,321

8,279

19,600

At 30 November 2023

608

12,321

12,929

5

Stocks

2024
£

2023
£

Other inventories

480

350

 

Craftily Bars & Events Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

5,760

2,333

Accruals and deferred income

 

1,890

810

Other creditors

 

4,330

7,788

 

11,980

10,931

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

14,600

9,333

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

7,350

9,333

Other borrowings

7,250

-

14,600

9,333

Current loans and borrowings

2024
£

2023
£

Bank borrowings

2,760

2,333

Other borrowings

3,000

-

5,760

2,333