Registered number
04752249
CRAFT PEGG LIMITED
Filleted Accounts
31 May 2024
CRAFT PEGG LIMITED
Registered number: 04752249
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 2 2
Current assets
Debtors 4 - 176
Creditors: amounts falling due within one year 5 (39,561) (32,874)
Net current liabilities (39,561) (32,698)
Total assets less current liabilities (39,559) (32,696)
Creditors: amounts falling due after more than one year 6 (5,500) (6,000)
Net liabilities (45,059) (38,696)
Capital and reserves
Called up share capital 2 2
Profit and loss account (45,061) (38,698)
Shareholders' funds (45,059) (38,696)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J Pegg
Director
Approved by the board on 26 February 2025
CRAFT PEGG LIMITED
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% Reducing Balance
Computer equipment 25% Straight line
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
No tax liability is recognised for the current and past periods.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Plant and machinery Computer equipment Total
£ £ £
Cost
At 1 June 2023 9,396 528 9,924
At 31 May 2024 9,396 528 9,924
Depreciation
At 1 June 2023 9,395 527 9,922
At 31 May 2024 9,395 527 9,922
Net book value
At 31 May 2024 1 1 2
At 31 May 2023 1 1 2
4 Debtors 2024 2023
£ £
VAT Repayments - 176
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bounce Back Loan 500 500
Bank loans and overdrafts 6,760 7,611
Trade creditors 2,500 2,500
Other creditors 29,801 22,263
39,561 32,874
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bounce Back Loan 5,500 6,000
7 Other information
CRAFT PEGG LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Devonshire House
582 Honeypot Lane
Stanmore
Middlesex
HA7 1JS
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