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REGISTERED NUMBER: 15066689 (England and Wales)

















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 12TH AUGUST 2023 TO 31ST AUGUST 2024

FOR

CRAFT AND CANVAS LTD

CRAFT AND CANVAS LTD (REGISTERED NUMBER: 15066689)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 12TH AUGUST 2023 TO 31ST AUGUST 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


CRAFT AND CANVAS LTD

COMPANY INFORMATION
FOR THE PERIOD 12TH AUGUST 2023 TO 31ST AUGUST 2024







DIRECTORS: M G Baker
M A Leith





REGISTERED OFFICE: 33 Carlton Street
Hebden Bridge
West Yorkshire
HX7 8ER





REGISTERED NUMBER: 15066689 (England and Wales)





ACCOUNTANTS: Cresswells
12 Market Street
Hebden Bridge
West Yorkshire
HX7 6AD

CRAFT AND CANVAS LTD (REGISTERED NUMBER: 15066689)

BALANCE SHEET
31ST AUGUST 2024

Notes £    £   
FIXED ASSETS
Intangible assets 4 16,000
Tangible assets 5 7,366
23,366

CURRENT ASSETS
Stocks 45,184
Debtors 6 16,956
Cash at bank and in hand 12,848
74,988
CREDITORS
Amounts falling due within one year 7 88,333
NET CURRENT LIABILITIES (13,345 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

10,021

PROVISIONS FOR LIABILITIES 1,400
NET ASSETS 8,621

CAPITAL AND RESERVES
Called up share capital 9 100
Retained earnings 8,521
SHAREHOLDERS' FUNDS 8,621

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

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

The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 27th March 2025 and were signed on its behalf by:




M G Baker - Director


CRAFT AND CANVAS LTD (REGISTERED NUMBER: 15066689)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 12TH AUGUST 2023 TO 31ST AUGUST 2024

1. STATUTORY INFORMATION

Craft And Canvas Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2023, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance

Fixed assets are initial recorded at cost.

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

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 3 .

CRAFT AND CANVAS LTD (REGISTERED NUMBER: 15066689)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 12TH AUGUST 2023 TO 31ST AUGUST 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
Additions 20,000
At 31st August 2024 20,000
AMORTISATION
Amortisation for period 4,000
At 31st August 2024 4,000
NET BOOK VALUE
At 31st August 2024 16,000

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
Additions 8,636
At 31st August 2024 8,636
DEPRECIATION
Charge for period 1,270
At 31st August 2024 1,270
NET BOOK VALUE
At 31st August 2024 7,366

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Other debtors 4,375
VAT 12,581
16,956

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade creditors 2,194
Tax 1,889
Directors' current accounts 80,317
Accrued expenses 3,933
88,333

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
£   
Within one year 17,500
Between one and five years 62,708
80,208

CRAFT AND CANVAS LTD (REGISTERED NUMBER: 15066689)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 12TH AUGUST 2023 TO 31ST AUGUST 2024

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal
value: £   
100 Ordinary £1 100

100 Ordinary shares of £1 each were allotted and fully paid for cash at par during the period.