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Registered Number: 07233818
England and Wales

 

 

 

ASTROCROFT LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 April 2023

End date: 31 March 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Intangible fixed assets 3 1,592,070    1,639,868 
Tangible fixed assets 4 27,462    2,727 
Investments 5 175,337    175,337 
1,794,869    1,817,932 
Current assets      
Stocks 747,160    699,738 
Debtors 344,106    153,604 
Cash at bank and in hand 239,301    68,598 
1,330,567    921,940 
Creditors: amount falling due within one year (911,284)   (706,032)
Net current assets 419,283    215,908 
 
Total assets less current liabilities 2,214,152    2,033,840 
Creditors: amount falling due after more than one year (391,707)   (202,322)
Net assets 1,822,445    1,831,518 
 

Capital and reserves
     
Called up share capital 481,000    481,000 
Reserves 6 1,203,718    1,203,718 
Profit and loss account 137,727    146,800 
Shareholders' funds 1,822,445    1,831,518 
 


For the year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These 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 income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 29 January 2025 and were signed on its behalf by:


-------------------------------
Bashir Sattar
Director
1
General Information
Astrocroft Limited is a private company, limited by shares, registered in England and Wales, registration number 07233818, registration address 178 Merton High Street, Wimbledon, London, SW19 1AY.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Intangible assets
Intangible assets are amortized on a straight line basis over their estimated useful economic life of 20 years. During the year the company has carried out an independent market valuation of its domain and brand known as mychoice.co.uk & Mychoice respectively.
Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings Over 5 Years Straight Line
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 5 (2023 : 5).
3.

Intangible fixed assets

Cost Other   Total
  £   £
At 01 April 2023 1,919,083    1,919,083 
Additions  
Disposals  
At 31 March 2024 1,919,083    1,919,083 
Amortisation
At 01 April 2023 279,215    279,215 
Charge for year 47,798    47,798 
On disposals  
At 31 March 2024 327,013    327,013 
Net book values
At 31 March 2024 1,592,070    1,592,070 
At 31 March 2023 1,639,868    1,639,868 


4.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Total
  £   £
At 01 April 2023 6,974    6,974 
Additions 31,769    31,769 
Disposals  
At 31 March 2024 38,743    38,743 
Depreciation
At 01 April 2023 4,247    4,247 
Charge for year 7,034    7,034 
On disposals  
At 31 March 2024 11,281    11,281 
Net book values
Closing balance as at 31 March 2024 27,462    27,462 
Opening balance as at 01 April 2023 2,727    2,727 


5.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 April 2023 175,337    175,337 
Additions  
Transfer to/from tangible fixed assets  
Disposals  
At 31 March 2024 175,337    175,337 

2