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COMPANY REGISTRATION NUMBER: 06933539
TABLECRAFT LIMITED
FILLETED FINANCIAL STATEMENTS
31 December 2023
TABLECRAFT LIMITED
STATEMENT OF FINANCIAL POSITION
31 December 2023
2023
2022
Note
£
£
£
FIXED ASSETS
Tangible assets
5
13,487
21,043
CURRENT ASSETS
Stocks
2,202,214
1,698,334
Debtors
6
846,235
1,074,292
Cash at bank and in hand
885,816
458,812
------------
------------
3,934,265
3,231,438
CREDITORS: amounts falling due within one year
7
4,604,661
3,463,419
------------
------------
NET CURRENT LIABILITIES
670,396
231,981
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
( 656,909)
( 210,938)
---------
---------
NET LIABILITIES
( 656,909)
( 210,938)
---------
---------
CAPITAL AND RESERVES
Called up share capital
1
1
Profit and loss account
( 656,910)
( 210,939)
---------
---------
SHAREHOLDERS DEFICIT
( 656,909)
( 210,938)
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements were approved by the board of directors and authorised for issue on 28 March 2025 , and are signed on behalf of the board by:
Mr J D Tait
Director
Company registration number: 06933539
TABLECRAFT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
1. GENERAL INFORMATION
The company is a private company limited by shares, incorporated in England and Wales with the registered number 06933539 . The address of the registered office is Headlands House, 1 Kings Court, Kettering Parkway, Kettering, Northamptonshire, NN15 6WJ, England.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The directors have given due regard to the financial position of the company at the year end, at the date of signing and for a period of twelve months following this. Based on the financial position of the company the directors are satisfied that the company has sufficient resources and flexibility to be able to meet its liabilities as they fall due. Financial support is also available from group companies if required. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
5 years straight line
Fixtures and Fittings
-
5 years straight line
Motor Vehicles
-
5 years straight line
Office Equipment
-
5 years straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 17 (2022: 17 ).
5. TANGIBLE ASSETS
Plant and machinery
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1 January 2023 and 31 December 2023
250,768
92,897
19,985
43,492
407,142
---------
--------
--------
--------
---------
Depreciation
At 1 January 2023
242,139
92,897
19,985
31,078
386,099
Charge for the year
8,629
1,403
10,032
Transfers
( 2,476)
( 2,476)
---------
--------
--------
--------
---------
At 31 December 2023
250,768
92,897
19,985
30,005
393,655
---------
--------
--------
--------
---------
Carrying amount
At 31 December 2023
13,487
13,487
---------
--------
--------
--------
---------
At 31 December 2022
8,629
12,414
21,043
---------
--------
--------
--------
---------
6. DEBTORS
2023
2022
£
£
Trade debtors
759,352
970,989
Other debtors
86,883
103,303
---------
------------
846,235
1,074,292
---------
------------
7. CREDITORS: amounts falling due within one year
2023
2022
£
£
Trade creditors
122,918
111,037
Amounts owed to group undertakings and undertakings in which the company has a participating interest
4,314,867
3,183,285
Social security and other taxes
71,544
42,849
Other creditors
95,332
126,248
------------
------------
4,604,661
3,463,419
------------
------------
8. OPERATING LEASES
The total future minimum lease payments under non-cancellable operating leases are as follows:
2023
2022
£
£
Not later than 1 year
250,000
250,000
Later than 1 year and not later than 5 years
562,500
812,500
---------
------------
812,500
1,062,500
---------
------------
9. SUMMARY AUDIT OPINION
The auditor's report dated 28 March 2025 was unqualified .
The senior statutory auditor was David Kelland FCA , for and on behalf of Meadows & Co Limited .
10. RELATED PARTY TRANSACTIONS
The company has taken advantage of the provisions available under FRS 102 Section 1A not to disclose transactions with other companies within a 100% owned group.
11. PARENT UNDERTAKING
The company is a wholly owned subsidiary of Tablecraft Products Company Inc , which is the parent company of the smallest group which prepares consolidated accounts which include the results and balances of the company. Tablecraft Products Company Inc is a company incorporated in the United States of America with a registered office address 801 Lakeside Drive, Gurnee, Illinois, 60031, USA.