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REGISTERED NUMBER: 04320352 (England and Wales)







Abridged Financial Statements for the Period 1st May 2023 to 31st October 2024

for

Crafted Boats Limited

Crafted Boats Limited (Registered number: 04320352)






Contents of the Financial Statements
for the Period 1st May 2023 to 31st October 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Crafted Boats Limited

Company Information
for the Period 1st May 2023 to 31st October 2024







DIRECTORS: A J Pinder
A J P Pinder





REGISTERED OFFICE: Thorneloe House
25 Barbourne Road
Worcester
Worcestershire
WR1 1RU





REGISTERED NUMBER: 04320352 (England and Wales)





ACCOUNTANTS: The Richards Sandy Partnership
Thorneloe House
25 Barbourne Road
Worcester
Worcestershire
WR1 1RU

Crafted Boats Limited (Registered number: 04320352)

Abridged Balance Sheet
31st October 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,109,794 130,699
Investment property 5 250,000 -
1,359,794 130,699

CURRENT ASSETS
Stocks 90,347 128,809
Debtors 68,886 34,589
Cash at bank and in hand 167,768 406,978
327,001 570,376
CREDITORS
Amounts falling due within one year 266,980 124,393
NET CURRENT ASSETS 60,021 445,983
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,419,815

576,682

CREDITORS
Amounts falling due after more than one
year

6

(706,693

)

(21,667

)

PROVISIONS FOR LIABILITIES (47,812 ) (32,541 )
NET ASSETS 665,310 522,474

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 665,308 522,472
SHAREHOLDERS' FUNDS 665,310 522,474

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31st October 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.

Crafted Boats Limited (Registered number: 04320352)

Abridged Balance Sheet - continued
31st October 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 Balance Sheet for the period ended 31st October 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 14th March 2025 and were signed on its behalf by:





A J Pinder - Director


Crafted Boats Limited (Registered number: 04320352)

Notes to the Financial Statements
for the Period 1st May 2023 to 31st October 2024

1. STATUTORY INFORMATION

Crafted Boats 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.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has passed to the buyer (usually when the customer receives the goods) and the amount of turnover can be measured reliably.

Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

INVESTMENT PROPERTY
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

STOCKS
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

TAXATION
Taxation for the period comprises current and deferred 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 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 balance sheet date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Crafted Boats Limited (Registered number: 04320352)

Notes to the Financial Statements - continued
for the Period 1st May 2023 to 31st October 2024

2. ACCOUNTING POLICIES - continued

OPERATING LEASES
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

PENSION COSTS
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 17 (2023 - 14 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st May 2023 279,050
Additions 1,052,563
Disposals (7,661 )
At 31st October 2024 1,323,952
DEPRECIATION
At 1st May 2023 148,351
Charge for period 71,569
Eliminated on disposal (5,762 )
At 31st October 2024 214,158
NET BOOK VALUE
At 31st October 2024 1,109,794
At 30th April 2023 130,699

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 250,000
At 31st October 2024 250,000
NET BOOK VALUE
At 31st October 2024 250,000

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS
2024 2023
£    £   
Repayable by instalments
Bank loans more 5 years 423,117 -

Crafted Boats Limited (Registered number: 04320352)

Notes to the Financial Statements - continued
for the Period 1st May 2023 to 31st October 2024

7. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loan 758,461 -

Loans included with in creditors are secured by a fixed and floating charge over the assets of the company.