Company No:
Contents
Directors | E J Croal |
E L Croal |
Secretary | E L Croal |
Registered office | Springfield House |
Springfield Road | |
Horsham | |
RH12 2RG | |
United Kingdom |
Company number | 05947714 (England and Wales) |
Accountant | Kreston Reeves LLP |
Springfield House | |
Springfield Road | |
Horsham | |
West Sussex | |
RH12 2RG |
Note | 28.08.24 | 28.08.23 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 3 |
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29,898 | 32,006 | |||
Current assets | ||||
Debtors | 4 |
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Cash at bank and in hand |
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243,323 | 319,496 | |||
Creditors: amounts falling due within one year | 5 | (
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Net current assets | 133,641 | 187,818 | ||
Total assets less current liabilities | 163,539 | 219,824 | ||
Creditors: amounts falling due after more than one year | 6 | (
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Provision for liabilities | 7 | (
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Net assets |
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Capital and reserves | ||||
Called-up share capital |
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Profit and loss account |
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Total shareholders' funds |
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Directors' responsibilities:
These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Croal Limited (registered number:
E J Croal
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Croal Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Springfield House, Springfield Road, Horsham, RH12 2RG, United Kingdom.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £1.
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
Foreign exchange gains and losses resulting from the settlement of transactions are recognised in the profit or loss.
consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount.
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other
comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.
Deferred tax
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be
recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Plant and machinery |
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Vehicles |
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Computer equipment |
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Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at
an annual general meeting.
28.08.24 | 28.08.23 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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Plant and machinery | Vehicles | Computer equipment | Total | ||||
£ | £ | £ | £ | ||||
Cost | |||||||
At 29 August 2023 |
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Additions |
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At 28 August 2024 |
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Accumulated depreciation | |||||||
At 29 August 2023 |
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Charge for the financial year |
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At 28 August 2024 |
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Net book value | |||||||
At 28 August 2024 |
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At 28 August 2023 |
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£ | £ | ||
Trade debtors |
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Amounts owed by directors |
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Accrued income |
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VAT recoverable |
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Other debtors |
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The main conditions of the loan due from the directors were as follows:
- the loan is interest free; and
- the loan is repayable on demand.
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£ | £ | ||
Bank loans |
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Trade creditors |
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Accruals |
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Taxation and social security |
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Obligations under finance leases and hire purchase contracts |
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Other creditors |
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28.08.24 | 28.08.23 | ||
£ | £ | ||
Bank loans |
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Obligations under finance leases and hire purchase contracts |
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£ | £ | ||
At the beginning of financial year | (
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Credited/(charged) to the Statement of Income and Retained Earnings |
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At the end of financial year | (
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The deferred taxation balance is made up as follows:
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£ | £ | ||
Accelerated capital allowances | (
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