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Registration number: 01392223

Crewe Saddlery Limited

Unaudited Financial Statements

for the Year Ended 31 August 2024

 

Crewe Saddlery Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Crewe Saddlery Limited

(Registration number: 01392223)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

36,198

42,884

Current assets

 

Stocks

5

195,837

190,089

Debtors

6

15,340

22,304

Cash at bank and in hand

 

12,614

9,763

 

223,791

222,156

Creditors: Amounts falling due within one year

7

(116,267)

(108,565)

Net current assets

 

107,524

113,591

Total assets less current liabilities

 

143,722

156,475

Creditors: Amounts falling due after more than one year

7

(40,750)

(59,557)

Provisions for liabilities

(9,049)

(8,148)

Net assets

 

93,923

88,770

Capital and reserves

 

Called up share capital

28,306

28,306

Retained earnings

65,617

60,464

Shareholders' funds

 

93,923

88,770

 

Crewe Saddlery Limited

(Registration number: 01392223)
Balance Sheet as at 31 August 2024

For the financial year ending 31 August 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 her 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 or Director report.

Approved and authorised by the director on 3 February 2025
 

.........................................
Miss Beatrice Amina Blakeman
Director

 

Crewe Saddlery Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 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:
Crewe Saddlery Ltd Unit 11 Cockshades Farm
Stock Lane
Wybunbury
Cheshire
CW5 7HA

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.

These financial statements are prepared in Sterling, which is the functional currency of the company. All monetary amounts are rounded to the nearest £.

Judgements and estimates

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

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 value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Crewe Saddlery Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Tax

The tax expense for the period comprises current and deferred tax.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable 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.

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

Land and buildings

20% on cost

Plant and machinery - Other tangible assets

15% on reducing balance

Fixtures and fittings - Furniture, fittings and equipment

25% on reducing balance

Computer equipment - Furniture, fittings and equipment

33% on reducing balance

Motor Vehicles

15% on reducing balance

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 comprises direct materials and, where applicable, direct labour costs.

 

Crewe Saddlery Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

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.

Defined contribution pension obligation

Contributions payable by the company to the employee's pension scheme are charged to the profit and loss account in the period to which they relate. The assets of those schemes are held separately from the business in independently administered funds.

Any amounts owing to these pension schemes are included in other creditors.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2023 - 5).

 

Crewe Saddlery Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 September 2023

1,770

6,056

50,593

34,281

92,700

Additions

-

160

-

-

160

At 31 August 2024

1,770

6,216

50,593

34,281

92,860

Depreciation

At 1 September 2023

1,770

3,768

10,277

34,001

49,816

Charge for the year

-

757

6,047

42

6,846

At 31 August 2024

1,770

4,525

16,324

34,043

56,662

Carrying amount

At 31 August 2024

-

1,691

34,269

238

36,198

At 31 August 2023

-

2,288

40,316

280

42,884

 

Crewe Saddlery Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

5

Stocks

2024
£

2023
£

Other inventories

195,837

190,089

6

Debtors

Current

2024
£

2023
£

Trade debtors

8,415

17,194

Prepayments

6,544

5,110

Other debtors

381

-

 

15,340

22,304

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

38,091

30,583

Trade creditors

 

50,632

53,449

Taxation and social security

 

19,178

19,872

Accruals and deferred income

 

476

629

Other creditors

 

7,890

4,032

 

116,267

108,565

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

40,750

59,557

8

Loans and borrowings

The bank facilities, included within loans and borrowings, have been secured by way of a fixed and floating charge against the assets of the company. Hire purchase liabilities, included within loans and borrowings, are secured upon the assets they relate to.